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The 7 Steps of the Sales Process
1. Product Knowledge
This step is fairly straight forward, but it is also the great undoing of many a technical expert turned sales person. When one is extremely well versed in a particular product especially a technical one, it is easy to get caught up in a monologue of all the great features it provides.
The technical expert turned sales person is so eager to explain how the product works or why it’s unique that the benefits to the customer are left out of the discussion. Never assume that a prospect will easily link a feature to a benefit. That relationship must be stated clearly (something done in the presentation step 4, after the needs assessment step 5). The acquiring of product knowledge for a “technician” therefore, is less about the features of the product itself, and more about how the customer will benefit from those features. When discussing product, the technicians mantra should be; “So what?” Consider those two words to be what the prospect thinks every time a feature is mentioned, and re-learn your product from that perspective.
2. ProspectingProspecting, just as the word implies, is about searching for new customers. Like product knowledge, this step may seem fairly straight forward but upon closer examination it becomes more complex. The key to prospecting effectively is knowing where to dig and what to look for. It’s also important to distinguish between a lead, a prospect, and a qualified prospect. The most important element in this step is to create a profile of existing customers. This may have been done at your company, but have approach tactics (step3) been tailored to match each profile. For instance, you may have identified the following major market segments: State Governments, County Governments, Consulting Firms, Federal Agencies, Utilities, Universities, but have you fully profiled each of these in order to adjust marketing tactics appropriately? A direct mail, seminar invitation might work well to generate State Government leads, but will it be effective in developing Consulting Firm leads? For each market segment do you really know what the ideal customer looks like? These questions should be answered fully in the “Tactics” portion of a marketing plan.
In the broadest sense, prospecting is an ongoing process that everyone in the company (particularly the sales force) should be involved in. This simply means everyone should have their “prospecting radar” up when they are out and about in the world. Very often, a great lead turned customer was first discovered after being heard or seen in the news at a party, or event, etc.
3. The ApproachThis is where the rubber meets the road in the sales process. For our present purposes lets consider the approach in the context of a sales call rather than lead generation (i.e. the difference between a mass mailing and a telephone call). This is the step where you begin to build a relationship and the intelligence gathering continues (it started with prospecting). A good approach is crucial to sales success because it will either identify you as a bothersome salesperson and cause a prospect’s guard to go up, or it will identify you as an obliging salesperson with something of value to offer. (There is probably a middle road too, but you get the idea.). Consider the example of tele-marketers selling a seminar:
Their product is a seminar, about which they presumably have sufficient knowledge. They prospect by scanning the house lists for appropriately titled leads, (generated by earlier prospecting efforts). They approach by saying “I’m Jay from XYZ and I’m calling to follow up on an invitation to a seminar that we mailed to you last week. Do you recall receiving it?” Then the dialog begins, often it’s perfunctory, other times however it can be extremely informative. The difference more often than not depends on how astute and articulate the caller is. What do you think is good about this approach? What do you think is bad?”
Quite often the type of call one makes is a follow up to some action i.e. seminar attendance, brochure mailed, etc. Technically these calls are part of follow up step 7, but let us address them in the context of a sales approach. What would be a good approach for each of the above follow up actions? Think about eliciting information and advancing the sale (closing, step 6). What would be a good approach for a cold call?
Additional Note on recording information: Regardless of the type of call or the results, it is important to take detailed call notes and schedule a subsequent action item, no matter what it is be it a week, a month, or a year down the road. (One can invent a system of abbreviations to make this easier i.e. LVM = left voice mail.) History notes are important for a variety of reasons, not the least of which is tracking where a prospect is in the sales process, including what follow up is necessary and when. Noting that “packet was mailed” or “attended seminar” or “inquired about model” is only half the information and not the most important. Why?
4. The Needs AssessmentThis is arguably the most important step of the sales process because it allows you to determine how you can truly be of service. To be a highly effective salesperson, that is to sell to the prospect’s needs, you first have to understand what those needs are. This means you must think in terms of solving a prospects problem. The only way to do that is by asking lots of questions. Does a health practitioner prescribe remedies before a thorough exam? Asking good questions will not only help you determine what will best suit the prospects needs, but it builds confidence, trust, and will very often help the prospect consider issues they may never have thought of. This last point is powerful because it provides an opportunity to showcase features, which the prospects answers led you to. What questions would you ask to illustrate how your product is different/better than a competitor’s. Although intelligence gathering occurs throughout the sales process, it is at step four where it happens in earnest. What other information would be important to gather at this stage? (hint: who’s who, referrals).
5. The PresentationRemember the discussion in step one, focus on benefits rather than features? If you consider your product/service in terms of how it benefits the customer, your presentation will be a focused and relevant dialogue rather than a self aggrandizing monologue. Nothing is worse than a sales presentation which proceeds from the sellers perspective. This is why the needs assessment is so important and why it will ideally flow in and out of this step. A good needs assessment allows you to tailor your presentation to your audience, and keep it interactive.
6. The CloseEighty percent of sales are lost because a salesperson fails to close. Closing is about advancing the sales process to ultimately get an order. What you are trying to sell at each stage may be different. For example, a close early in the sales process may be to get an appointment to discuss your product/service, in that case you are selling an appointment not a widget. In a later stage you might need to meet with a committee, in that case what you are selling is a meeting. Seeing the sale process in this light takes a little pressure off of each encounter and makes things a bit more manageable. But don’t be lulled into complacency, you must ultimately ask for the order and no sales conversation should ever end without an agreement to some next step. Do not be satisfied with “we’ll get back to you”, where is the agreement in that? What could you say in response to such a remark in order to advance the sale?
In large part, closing is about discovering obstacles. Have you heard these before: “I’ll need to think about it.”, “It’s too expensive.”, “Let me run it buy some other people.” “Sounds good but I’ve already got one.” What could you say to overcome these objections?
There are lots of ways to close, indeed closing a sale has become a science unto itself. Books have been written on this topic alone. But there is one elemental truth – if you don’t ask you don’t get. Just for fun, following is a sampling of a few closing techniques from among the many:
— The Ask For It Close. “What do we need to do to get this model into your organization?”— The If-Then Close. “If I could demonstrate how an XYZ model provides you with, (things you know are important based on the prospect needs assessment) then would you be willing to… demo, rent, buy, switch, etc.”— The Process Of Elimination Close. “So you like the model, you have use for it, it’s not too expensive!”— The Either Or Close. “Will that be cash or charge?”— The Lost Puppy Close. “I guess I didn’t do my job very well.”
Additional note: The question “How much does it cost?” Is a great buying signal yet it is a question you want to avoid early in the sales process. What could you say to defer that question politely? When you do mention price, don’t be afraid that they are too high, say it with pride. Don’t forget to ask for the referral.
7. Follow-upGood follow up will double your closing ratio. When a sales person makes contact with a prospect a relationship has been built, and follow up is how it is nurtured. Staying at the forefront of a prospect’s mind requires persistence and should not be confused with being bothersome. This is why it’s important to get agreement on some next step each time there is contact. Follow up therefore should never end. The pace may slow but it will never end. When a sale is made, then a new type of follow up begins.
Follow up conversations are best handled by the salesperson who started the relationship. Who else can better gauge a prospect’s “willingness to buy”, or pick up where “we last left off”. This means that detailed notes must be kept on each prospect with particular emphasis on their “state of mind”. It is unwise and ineffective to keep track of this information anywhere other than a centralized database.
Additional note: It’s important to hold some follow up ammunition in reserve. Overwhelming your prospects with every piece of information you possess on their first request hampers your ability to stay in touch. Having a stable of collateral materials gives you reason to follow up.
Sales will happen based on building new relationship , need to build a strong relationships in market & Good Product knowledge is most important , etc
1. Product Knowledge
2. Prospecting
3. The Approach/ Connecting
4. The Needs Assessment/ Qualifying
5. The Presentation/ Demonstrating Value
6. The Close
7. Follow-up
Step 1: Prospecting
Before you can sell anything, you need someone to sell to. That’s why you should start with lead generation, also known as prospecting.
This step involves creating a list of potential leads and conducting preliminary research to find out their contact information. Sales reps often leverage social media, their existing network, and customer referrals to find qualified leads. You can use a free tool like Hunter to verify the accuracy of your list.
If you already have a solid customer base, spend some time creating an ideal customer profile. This will allow you to identify your audience segments and help your sales team target each of them more effectively. After all, different types of outreach work better for different types of prospects.
Step 2: Connecting
Every cold email or phone call is the start of a new relationship with a potential client. This step is your only chance to make a good first impression, which is critical if you want the chance to demonstrate the benefits of your product or service.
So, how can you make sure you’re making a great impression? Be as relevant and personable as possible. Use your background knowledge of the company and lead to build rapport.
Remember, the goal here is to get the lead to see you as someone who can provide value – not just as a salesperson trying to make quota. If you’d like more detailed advice on doing effective cold outreach, check out our comprehensive guide to running a cold email campaign.
Step 3: Qualifying
During your initial phone call or early in your email conversation, it’s important to ask qualifying questions. After all, you want to make sure you’re pitching to the right person (that is, are you in direct contact with the decision-maker?), ask about their needs, and assess their pain points.
Ask questions that help you determine how they will benefit from your product or service. Are they an ideal customer? Are they ready to make a purchase ASAP – or do they need to wait for the new budget to get approved?
There are plenty of frameworks available to help you understand whether or not a lead is likely to buy. For example, the BANT framework looks at a prospect’s budget, authority to make a decision, need for your solution, and timing.
Your aim is to see if there’s a mutual fit. Once a prospect has been qualified, thengo back and do more research about their company so you can tailor your pitch.
Step 4: Demonstrating Value
Setting up a product demo gives you the chance to show off your solution. Whether it’s an in-person meeting or you’re using a video conferencing platform, research and preparation is key to delivering a winning product demo.
The more you can personalize the demo to fit the prospect’s immediate needs, the better you’ll be able to sell them on the benefits. Frame the product as a solution to a problem facing the prospect or their business – and help them understand what they’ll miss out on if they don’t buy.
Step 5: Addressing Objections
Even after you deliver a killer sales pitch, your prospect will likely have a few things they need cleared up before committing to a purchase. But that’s not a bad thing! Listening to your prospect’s sales objections gives you an opportunity to understand their perspective and reframe your sales pitch accordingly.
At this step of the sales process, you should try to identify and address any concerns that arise after the demo. Reiterate the cost of not purchasing your product (i.e. leverage the fear of missing out on a good deal) and answer whatever questions the prospect has about your solution, brand, and prices.
If you need specific tips on addressing common sales objections, we’ve written about that, too.
Step 6: Closing the Deal
Now that you’ve addressed the prospect’s main concerns, the finish line is in sight! You’re almost ready to ask them to sign on the dotted line.
But first, you must create a proposal, negotiate the details, and get buy-in from decision-makers on both sides. Only then can you move on to signing the deal and officially landing your newest customer.
Tips for bumping up your closed-won rate include:
Step 7: Onboarding
The sales team’s role doesn’t end after closing the deal. Depending on the size of your company, it’s often beneficial if the same sales rep who landed the deal continues to work with the customer during onboarding. This creates a sense of continuity and builds on their already-developed relationship.
Onboarding can include delivering the product, getting the client set up with your solution, and providing any necessary support. Not only should your sales team help set new customers up for success during onboarding, but it’s also time to start thinking about customer retention. Shift your focus to finding out what it will take to keep your customer happy and for them to stay on as a long-term client.
Step 8: Following Up
The final (and often-overlooked) stage is following up. One of the biggest mistakes salespeople make is not following up enough. This is true not only in closing sales (the average deal takes five follow-ups to close!), but also in nurturing a long-term customer relationship and repeat buyer.
Nurturing a new customer involves supporting them after the sale, answering questions, and keeping them happy with their purchase. Stay in contact, maintain open lines of communication, and look for opportunities to upsell or cross-sell certain solutions.
After the product is delivered or the customer has been using it for a while, follow-up to find out if they are still satisfied with their experience. This is also the perfect opportunity to ask for referrals.
Step 1: Prospecting
Before you can sell anything, you need someone to sell to. That’s why you should start with lead generation, also known as prospecting.
This step involves creating a list of potential leads and conducting preliminary research to find out their contact information. Sales reps often leverage social media, their existing network, and customer referrals to find qualified leads. You can use a free tool like Hunter to verify the accuracy of your list.
If you already have a solid customer base, spend some time creating an ideal customer profile. This will allow you to identify your audience segments and help your sales team target each of them more effectively. After all, different types of outreach work better for different types of prospects.
Step 2: Connecting
Every cold email or phone call is the start of a new relationship with a potential client. This step is your only chance to make a good first impression, which is critical if you want the chance to demonstrate the benefits of your product or service.
So, how can you make sure you’re making a great impression? Be as relevant and personable as possible. Use your background knowledge of the company and lead to build rapport.
Remember, the goal here is to get the lead to see you as someone who can provide value – not just as a salesperson trying to make quota. If you’d like more detailed advice on doing effective cold outreach, check out our comprehensive guide to running a cold email campaign.
Step 3: Qualifying
During your initial phone call or early in your email conversation, it’s important to ask qualifying questions. After all, you want to make sure you’re pitching to the right person (that is, are you in direct contact with the decision-maker?), ask about their needs, and assess their pain points.
Ask questions that help you determine how they will benefit from your product or service. Are they an ideal customer? Are they ready to make a purchase ASAP – or do they need to wait for the new budget to get approved?
There are plenty of frameworks available to help you understand whether or not a lead is likely to buy. For example, the BANT framework looks at a prospect’s budget, authority to make a decision, need for your solution, and timing.
Your aim is to see if there’s a mutual fit. Once a prospect has been qualified, thengo back and do more research about their company so you can tailor your pitch.
Step 4: Demonstrating Value
Setting up a product demo gives you the chance to show off your solution. Whether it’s an in-person meeting or you’re using a video conferencing platform, research and preparation is key to delivering a winning product demo.
The more you can personalize the demo to fit the prospect’s immediate needs, the better you’ll be able to sell them on the benefits. Frame the product as a solution to a problem facing the prospect or their business – and help them understand what they’ll miss out on if they don’t buy.
Step 5: Addressing Objections
Even after you deliver a killer sales pitch, your prospect will likely have a few things they need cleared up before committing to a purchase. But that’s not a bad thing! Listening to your prospect’s sales objections gives you an opportunity to understand their perspective and reframe your sales pitch accordingly.
At this step of the sales process, you should try to identify and address any concerns that arise after the demo. Reiterate the cost of not purchasing your product (i.e. leverage the fear of missing out on a good deal) and answer whatever questions the prospect has about your solution, brand, and prices.
If you need specific tips on addressing common sales objections, we’ve written about that, too.
Step 6: Closing the Deal
Now that you’ve addressed the prospect’s main concerns, the finish line is in sight! You’re almost ready to ask them to sign on the dotted line.
But first, you must create a proposal, negotiate the details, and get buy-in from decision-makers on both sides. Only then can you move on to signing the deal and officially landing your newest customer.
Tips for bumping up your closed-won rate include:
Step 7: Onboarding
The sales team’s role doesn’t end after closing the deal. Depending on the size of your company, it’s often beneficial if the same sales rep who landed the deal continues to work with the customer during onboarding. This creates a sense of continuity and builds on their already-developed relationship.
Onboarding can include delivering the product, getting the client set up with your solution, and providing any necessary support. Not only should your sales team help set new customers up for success during onboarding, but it’s also time to start thinking about customer retention. Shift your focus to finding out what it will take to keep your customer happy and for them to stay on as a long-term client.
Step 8: Following Up
The final (and often-overlooked) stage is following up. One of the biggest mistakes salespeople make is not following up enough. This is true not only in closing sales (the average deal takes five follow-ups to close!), but also in nurturing a long-term customer relationship and repeat buyer.
Nurturing a new customer involves supporting them after the sale, answering questions, and keeping them happy with their purchase. Stay in contact, maintain open lines of communication, and look for opportunities to upsell or cross-sell certain solutions.
After the product is delivered or the customer has been using it for a while, follow-up to find out if they are still satisfied with their experience. This is also the perfect opportunity to ask for referrals.
Go down a bit for the client
As sales Manager I would do analysis what would be the condition of crucial.
Because in sales factors one reason of crucial sales is season (seasonal month)..To be able to proceed we need to plan accordingly for the solution ..We need to make plan for the next move,
1)I need to have full knowledge in the product -in order to increase sales, I need to catch the attention of customer, to be able to do that I will request of proposal of promotion.this I'd during lean season.
-In regards to peak season-this is the time where in" customer will bu"..being marketer this is the time to dispose all old stocks items.
Build and motivate a strong team
Make a brilliant strategy every week
Knowing customers needs very well
Achieve our goals
Greeting,
Probing,
Demonstrating,
FABIng,
Cross Selling&Upselling.
Fedback Collection
Closing the Sale
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