Sales cycle steps for conquering your sales targets(published)
1. M. NINO MAYVI DIAN
HEAD OF SALES & MARKETING
PT DIHEN BERSAMA
2. Understanding of Buying Cycle
What’s the purpose of understand buying cycle for sales
person? Why is it important?
To closed the sales effectively and efficiently, first, sales
persons MUST know the buying cycle which applied on their
customers/prospect customers.
Crucial stages to make closing sales effectively, sales person
should penetrates within the buying cycle at :
Need identification/clarification stage
Explore options/sourcing the marketplace stage
At those two stages, sales persons MUST be able to represent
and expose their company interests to serve and cooperate,
which it will make them easier at the negotiation and closing
stages.
3. Understanding Sales Cycle
What’s the purpose of knowing and understanding
sales cycle for sales persons? Why is it important?
To make structured and standardized sales activities,
which it can be measured, traceable, and of course,
easier to achieve the sales objectives
To create sales persons with professional attitudes and
behavior, because of standardized and structured sales
activities.
Increased corporate image through corporate’s sales
forces
5. Understanding Sales Cycle
8 stages of cycle :
Plan/identify the prospects, at this stage the activity percentage is 0%
Connect with prospects/gain acceptance, at this stage the activity
percentages are 10%
Fact finding/probing for needs identification, at this stage the activity
percentages are 20%
Deliver solution propositions/send quotations, at this stage the activity
percentages are 30%
Propositions/quotations evaluation, at this stage the activity
percentages are 40%
Buying terms (price, delivery, payment, etc) negotiation, at this stage
the activity percentages are 75%
Buying terms agreement/purchase order released, at this stage the
activity percentages are 99.9%
Get referenced for other prospects, at this the activity percentages are
100%
6. Understanding Sales Cycle
8 stages of sales cycle:
Plan/identify the prospects:
This activity requires sales person to gather all the sales lead
sources to create the prospects list
Sales lead sources could be from existing customer
database, business directory, yellowpages, websites, etc.
Identify the qualify prospects based on :
Prospects MUST be our target market, ex: fabricators who
fabricates steel/stainless steel, etc
Doing small research on the prospects company profile and
find out the potentials
7. Understanding Sales Cycle
8 stages of sales cycle:
Connect with prospects/gain acceptance:
After the prospects identification process finished, and list of
potential prospects has been made, sales person MUST get
connected with these prospects and gain their acceptance on your
presence.
At this stage, probably sales persons will be having trouble to
connect/gain acceptance due to barriers that created by the
prospects. These barriers could be broken if the sales persons are
used the right openings,
example: don’t do hard selling on your first call attempt to make
an appointment, such as “We’re from PT Dihen Bersama, and we
want to do business with you”. Instead of that statement, you
could just say, “We’re from PT Dihen Bersama, and would you
mind if I want to know more about your company profiles? So we
could know about the potentials of future business relationship
with your company”.
8. Understanding Sales Cycle
8 stages of sales cycle:
Fact finding/probing for needs identification:
This activity requires sales person to make good sales call,
which the sales call objective is to identify the needs trough
fact finding and probing.
Mostly sales people failed at this stage due to oftenly jumped
into conclusion, which they just offering the products without
conduct proper fact finding/probing.
You’ll see the video example of bad sales call on the next slide
10. Understanding Sales Cycle
8 stages of sales cycle:
Deliver solution propositions/send quotations:
At this stage, sales persons MUST make their
propositions/quotations based on their fact finding/probing
results.
This stage could be call as the crucial stage for the whole sales
cycle, because mostly sales persons only send their
propositions/quotations without proper presentation and lack
of information collected during probing stage
11. Understanding Sales Cycle
8 stages of sales cycle:
Propositions/quotations evaluation:
At this stage, major activity is on the customer’s side, because
this is the time when customers internally discussed our
propositions.
But, sales person could do more on the influencing the
decision, through the contact person they know. That’s why
sales persons MUST have more than one contact person on
the prospect’s company, and one of them MUST be the
decision maker.
12. Understanding Sales Cycle
8 stages of sales cycle:
Buying terms (price, payment, delivery, etc)
negotiations:
This stage requires sales persons to have good negotiation
skill, because prospects will negotiate all the terms based on
their comforts and expectations, such as SOP, business
culture, etc, while our company also has its own expectations
and comforts. Sales person with good negotiation skill will be
able to make sales deal by elaborating customer’s and our
company’s terms.
13. Understanding Sales Cycle
8 stages of sales cycle:
Buying terms agreement/purchase order released:
At this stage, sales cycle stages are actually almost
completed, because prospect is finally closed the deal.
Thus, sales person should be fully in charge to ensure that
purchase order won’t be cancelled by prospect.
14. Understanding Sales Cycle
8 stages of sales cycle:
Get referenced for other prospects:
At this stage, sales persons mostly forgot to ask for referrals
after they closed the deal with customers.
If sales persons have good relationships with customers, they
could ask to their customers to give good recommendations
for given referrals.
15. There’s endless time of learning, as long as
you’re still breathing...
And you’ll kill the joy of living, if you decide to
end your journey of trying...
THANK YOU