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Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
Sales cycles101
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Sales cycles101

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Simon Jenner, CEO of Oxygen Accelerator, delivers a session on sales & business development at Launch48 Launchpad

Simon Jenner, CEO of Oxygen Accelerator, delivers a session on sales & business development at Launch48 Launchpad

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  • 1. Launch48 | WelcomeSales Cycles 101 @launch48 Choose your journey ‘People buy from People’
  • 2. Aim • Understand sales cycles • Understand sales funnels • Understand sales metrics ‘Don’t find fault, find a remedy. Anybody can complain’ Henry Ford. Founder, Ford
  • 3. Not going to learn- Sales techniques - Closing questions - NLP - Body language - Parroting - Yes questions- Sales obstacles‘If you’re building a product, you can’t be afraid of hearing criticism about it.’ Kyle Bragger. Co-Founder, Forrst
  • 4. The Sales BattlePotential Customers Target Market Target Demographic Sales Team
  • 5. Marketing TeamPotential Customers Target Market Target Demographic Sales Team
  • 6. Who is in your sales team?Everybody
  • 7. Sales Truisms People buy from peoplePeople like to buy they dont like to be sold to
  • 8. Sales cycle stage 1 • Lead sourcesProspect for Leads • Database • Scraping (web, linkedin, twitter, yellow pages etc) • Direct enquiries • Lead generation • Cold calling • Advertising • Traditional - print • Smart – digital • Campaigns
  • 9. Sales cycle stage 2Prospect for Leads Qualify Lead - Do they want what we are selling - Are they in our target demographic - Can they afford to pay
  • 10. Sales cycle stage 3Prospect for Qualify Lead 1st Meeting Leads - Further qualifying of lead - Establishing credibility
  • 11. Sales cycle stage 4Prospect for Qualify Lead 1st Meeting Proposal Leads - Continue to establish credibility - Provide a price/quote - Provide a call to action
  • 12. Sales cycle stage 5Prospect for Qualify Lead 1st Meeting Proposal 2nd Meeting Leads - Continue to establish credibility - Deal with any sales objections
  • 13. Sales cycle stage 5Prospect for Qualify Lead 1st Meeting Proposal 2nd Meeting Leads - Sign the contract - Hand customer over to operations Close Deal
  • 14. Customer sales journeyProspect for Qualify Lead 1st Meeting Proposal 2nd Meeting Leads Close Deal
  • 15. Customer sales journeyProspect for Qualify Lead 1st Meeting Proposal 2nd Meeting Leads Close Deal Lost Sale
  • 16. Customer sales journeyProspect for Qualify Lead 1st Meeting Proposal 2nd Meeting Leads Close Deal Lost Sale
  • 17. Example sales pipeline Customer Value UnitsSmith & Sons £5,600 465PartyBus LLP £25,000Champagne £12,000 1115LtdGonebakrupt £6,700 823LtdTotal £49,300 2403
  • 18. Customer Stage Value UnitsSmith & 1st Meeting £5,600 465SonsPartyBus Enquiry £25,000LLPChampagne 2nd Meeting £12,000 1115LtdGonebakru Quote Sent £6,700 823pt LtdTotal £49,300 2403
  • 19. Customer Stage Value Units ProbabilitySmith & Sons 1st Meeting £5,600 465 20%PartyBus LLP Enquiry £25,000 10%Champagne 2nd Meeting £12,000 1115 60%LtdGonebakrupt Quote Sent £6,700 823 30%LtdTotal £49,300 2403
  • 20. Customer Stage Value Units Probabil Probabil ity itySmith & 1st £5,600 465 20% Revenu £1120Sons Meeting ePartyBus Enquiry £25,000 10% £2500LLPChampagne 2nd £12,000 1115 60% £7200Ltd MeetingGonebakrupt Quote £6,700 823 30% £2010Ltd SentTotal £49,300 2403 £12,830
  • 21. Customer Stage Value Start End Length Date Date daysSmith & 1st £5,600 1/9/12Sons MeetingPartyBus Enquiry £25,000 5/9/12LLPChampag Closed £12,000 25/08/12 25/09/12 30ne LtdGonebakr Closed £6,700 3/7/12 17/08/12 45upt LtdTotal £49,300
  • 22. Sales pipeline• Tells us what stage potential customers are at in the sales cycle• Tells us the probability revenue for this month• Tells us how long it takes from start to finish (Sales cycle length). We can calculate an average• Tells us our average deal size
  • 23. What don’t we know?• How many of our qualified leads get to close?• Or how many who start the journey finish it ? Prospect for Qualify Leads Lead 1st Meeting Proposal 2nd Meeting Close Deal Lost Sale
  • 24. Sales funnel Lead Generation Qualified Leads 1st Meeting Proposal 2nd Meeting Closed Deal
  • 25. Sales funnel Lead GenerationAverage Sales Qualified LeadsCycle35 Days 1st Meeting Proposal 2nd Meeting Closed Deal
  • 26. Stage NumberQualified Lead 35 Tracked over a month1st Meeting 8 = 50 InputProposal 4 = 1 Output So 50:1 (closure ratio)2nd Meeting 2Closed 1
  • 27. Exercise - Facts- It is 25th July- Average deal size is £2,000- Average sales cycle length is 35 days- Your closure rate is 50:1- The current pipeline has a probability revenue of £10k- Your revenue target for next month is £20k
  • 28. Exercise questions• How many prospects do you need to meet your revenue target for next month?• Can you hit your target?
  • 29. sales is not luck it is a process that can be tracked and monitored
  • 30. What we have learnt• Sales needs to be supported by marketing• Sales Cycle stages• Sales Funnels• Sales Metrics • Deal closure probability • Deal revenue probability • Sales Cycle average length • Closure ratio • Average deal size
  • 31. Fin | End Danke.Grazie.Shukran. Merci.Takk.Xie xie.Toda. Thanks! @launch48 Choose your journey.‘Don’t let people tell you your ideas are stupid - if you’re really passionate about something, find a way to build it.’ Dennis Crowley. Co-Founder, Foursquare

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