An experienced salesperson will tell you that the length of their sales cycle is a critical factor to success.
So how do you shorten the sales cycle? There are many factors to consider, but we outline some of the most effective methods. So read on if you want to close deals faster!
How to Shorten The Sales Cycle
How to Shorten The Sales Cycle
An experienced salesperson will tell you that the length of their sales cycle is a critical factor to success.
So how do you shorten the sales cycle? There are many factors to consider, but we outline some of the most effective methods. So read on if you want to close deals faster!
How to Shorten the Sales Cycle
1. Self-assess your prospect or deal on a scale of 1 to 7, but you can’t say 5.
If you assess as a four or less, you are likely wasting your time. A six or seven indicates you have a better than average chance of shaping a value proposition and competing for a deal. Pro Tip: Conduct the self-assessment before investing time and resources to provide a proposal. If you’re thinking, “what have I got to lose?” – you’ll lose valuable time!
2. Expand Engagement To More Than One Person
There are plenty of situations where one person makes all the decisions and does not need to involve anyone else. However, if your solution affects or impacts multiple people or departments to deploy or implement, the sooner you talk to the other individuals, the better.
Relying on one person may seem more comfortable, but it increases the risk of encountering unmet needs or objections later in the sales cycle. The longer you wait to involve others, the more work involved in getting others on board with your value proposition. Pro Tip: Remember, EVERY organization has a process to build an internal business case, formal or informal. Rely on one individual at your peril.
3. Talk About The Risk of Change Early As Possible
There is always a risk of change if an organization switches providers or implements a new solution. Many organizations don’t contemplate the risk of change until they evaluate proposals – that’s not good for sellers. Pro Tip: To help a customer or prospect build the internal business case for change, salespeople must ask questions regarding the risk of change.
Will the customer need to change processes, conduct training, potentially impact suppliers, require different customer service terms, or build IT systems? For some organizations, the risk of change can be so expensive that they might not make a change even if you gave your product away for free!
4. Use Calendaring Tools to book meetings faster and reduce email back-and-forth
There are many tools to assist contacts in scheduling calendar time with you in less than a minute. You’ll never again draft an email with “let me know what day and time work for you.” If you aren’t using a tool such as Calendly, ScheduleOnce, or Chili Piper, you are not only wasting your time and contacts but demonstrating that you’re “old school.” Pro Tip: Don’t be cheap. Get the paid version which has more functionality and support.