THE TEN COMMANDMENTS FOR SHORTENING YOUR SALES CYCLE OVER TIME
THE TEN COMMANDMENTS FOR SHORTENING YOUR SALES CYCLE OVER TIME
It usually takes a long time to find a shorter way. ~Anonymous
I spend a good percentage of my time selling. I also teach selling to professional service providers. And one issue that comes up time after time is, "How do I get prospects to buy faster? Why don't people respond to my proposals, my calls, my emails, or me? How do I shorten the sales cycle?"
My flip answer, "Have more in the pipeline at all times, so the sales cycle just seems shorter."
Of course, that rarely makes anyone feel better. So based on our research and experience, here are my Ten Commandments to Making the Sales Process Move More Quickly.
I. Thou Shalt Create A Crisp, Clear Value Proposition
In the course of my work, with all manner of professional service firms, I hear a very common lament. "We are becoming a commodity. The prospects just seem to buy on price. We are really good. How can I possibly separate myself from the crowd?" If you don't know how you are distinct, how will the prospect know? Ask your clients, your colleagues, your network – how do I provide value in what I do. Once you get an answer, refine the message, practice it, and refine it again.
II. Thou Shalt Talk To The Right Person
Why do so many of us end up wasting our time (and stretching out the sales cycle) by talking to prospects who have neither the budget nor authority to buy our services? Is it lack of confidence in our abilities to deliver, to sell, or both?
Whatever the reason, the shortest distance to a faster sale is the one to the decision maker. Go into a prospect company at the highest level possible. If you can't start high, find out as quickly as possible who controls the purse strings and who makes the decisions.
III. Thou Shalt Uncover The Prospect's Needs
How directly are you connecting what you are offering with the needs of the buyer and those of her company? Too often, we talk to the prospect, rather than with the prospect. Ask questions that will allow you to find the most pressing and compelling needs that your services can address. You can then draw a straight and direct line from their needs to your services. As the saying goes, "The shortest distance..."
IV. Thou Shalt Engender Trust And Confidence In Your Company
Unless you have the good fortune to have been introduced through a referral, your buyer has a long list of reasons not to buy. As you are selling, he is asking himself, "Can you do what you say you can?" "Do you really understand my company and what I am facing?" "Will I get the return on my investment in your fees?"
Provide stories, case studies, and demonstrable examples of how you have helped similar companies. Don't talk about how good you are, show it. The sooner you can reduce the trust barrier, the faster you can move your prospect along to making a decision.
V. Thou Shalt Deal With Objections Early On
Contrary to popular belief, objections are helpful to the buying process. In fact, I have a client who insists that objections are buying signals. When a prospect tells you that there is an obstacle to her buying your services, she is engaging you in the selling process.
The earlier objections come up, the earlier you have the opportunity to fully explore what is getting in the way, dealing with it, and moving on. The worst possible scenario is for the prospect to nod in agreement and then disappear once you are out of sight (no phone calls, no emails, and no answers) because you never had the opportunity to hear what was standing in the way of the sale.
VI. Thou Shalt Plan Each Conversation
What do you want to have happen during (and after) the first conversation? The second? The third? The sales cycle gets stalled more often than not because the service provider (or seller) doesn't have a plan. Prepare for each conversation by asking yourself:
• What is my goal for this prospect?
• What is my goal for this conversation?
• What are my strengths going in?
• What are my vulnerabilities?
• Based on the answers, what can you expect and what is your planned next step?
Improv may be fine for comedy, but nothing will derail the sales express faster.
VII. Thou Shalt Advance The Sale (And Avoid Continuances)
An outcome of good planning will be your ability to advance the sale to a next step. How often do you or your colleagues call to follow-up with a client and say those uninspiring words, "I was just checking to see how things were going?" "Fine," the prospect replies. (Pause.) "Thanks for calling." (Really long pause.) End of conversation.
Supply answers to questions, new information, a reason to have a new discussion about how you can and will meet their needs. How can you help the prospect see the value you will provide?
VIII. Thou Shalt Make It Easy For The Prospect To Buy
Even after you have refined your value proposition, engendered trust, uncovered needs, planned, etc., the prospect still might have a hard time buying that $300,000 assignment as a first engagement. How can she try out your services to feel comfortable with a larger project?
The best way is to have an entry-level service that shows what you can do in a more manageable fashion. This can take the form of a pilot program, an upfront assessment, or a day of strategy development.
IX. Thou Shalt Provide Value In Your Marketing
When you sit down at the table with a prospective client for the first time, you might encounter one of two possibilities:
• Possibility #1: "I've never heard of you. I don't know what you offer. I don't know why you're here. Now what did you want to sell me?"
• Possibility #2: "I've read two of your white papers, saw you speak, and regularly read your newsletter. I love your website and your ABC Methodology. I've been looking forward to speaking with you for years now."
Of course, Possibility #2 is what you want to hear. You can accomplish this through your marketing activities, if you create and leverage value-based offers and experiences in your marketing efforts. If you do, the sales cycle will have already started before you even have that first exchange.
X. Thou Shalt Be Persistent
The average complex sale takes five conversations to close. How often do we drop out of the running, because we lose interest and quit the cycle half-way through? In the end, slow and steady wins the sale.
In Sum
By now, you may be wondering if all this effort is going to be worth it. Where's the shorter path in this sales cycle? I can assure you it is well worth it for you. But take heed of our friend Anonymous' admonition, there really are no shortcuts. Sales success in professional services takes a consistent and value based approach that works over time.
And maybe, just maybe, the flip answer was the right (and short) one.
THE TEN COMMANDMENTS FOR SHORTENING YOUR SALES CYCLE OVER TIME - To learn more about this author, visit Laurie Stafinski's Website.
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By John Doerr
It usually takes a long time to find a shorter way. ~Anonymous
I spend a good percentage of my time selling. I also teach selling to professional service providers. And one issue that comes up time after time is, "How do I get prospects to buy faster? Why don't people respond to my proposals, my calls, my emails, or me? How do I shorten the sales cycle?"
My flip answer, "Have more in the pipeline at all times, so the sales cycle just seems shorter."
Of course, that rarely makes anyone feel better. So based on our research and experience, here are my Ten Commandments to Making the Sales Process Move More Quickly.
I. Thou Shalt Create A Crisp, Clear Value Proposition
In the course of my work, with all manner of professional service firms, I hear a very common lament. "We are becoming a commodity. The prospects just seem to buy on price. We are really good. How can I possibly separate myself from the crowd?" If you don't know how you are distinct, how will the prospect know? Ask your clients, your colleagues, your network – how do I provide value in what I do. Once you get an answer, refine the message, practice it, and refine it again.
II. Thou Shalt Talk To The Right Person
Why do so many of us end up wasting our time (and stretching out the sales cycle) by talking to prospects who have neither the budget nor authority to buy our services? Is it lack of confidence in our abilities to deliver, to sell, or both?
Whatever the reason, the shortest distance to a faster sale is the one to the decision maker. Go into a prospect company at the highest level possible. If you can't start high, find out as quickly as possible who controls the purse strings and who makes the decisions.
III. Thou Shalt Uncover The Prospect's Needs
How directly are you connecting what you are offering with the needs of the buyer and those of her company? Too often, we talk to the prospect, rather than with the prospect. Ask questions that will allow you to find the most pressing and compelling needs that your services can address. You can then draw a straight and direct line from their needs to your services. As the saying goes, "The shortest distance..."
IV. Thou Shalt Engender Trust And Confidence In Your Company
Unless you have the good fortune to have been introduced through a referral, your buyer has a long list of reasons not to buy. As you are selling, he is asking himself, "Can you do what you say you can?" "Do you really understand my company and what I am facing?" "Will I get the return on my investment in your fees?"
Provide stories, case studies, and demonstrable examples of how you have helped similar companies. Don't talk about how good you are, show it. The sooner you can reduce the trust barrier, the faster you can move your prospect along to making a decision.
V. Thou Shalt Deal With Objections Early On
Contrary to popular belief, objections are helpful to the buying process. In fact, I have a client who insists that objections are buying signals. When a prospect tells you that there is an obstacle to her buying your services, she is engaging you in the selling process.
The earlier objections come up, the earlier you have the opportunity to fully explore what is getting in the way, dealing with it, and moving on. The worst possible scenario is for the prospect to nod in agreement and then disappear once you are out of sight (no phone calls, no emails, and no answers) because you never had the opportunity to hear what was standing in the way of the sale.
VI. Thou Shalt Plan Each Conversation
What do you want to have happen during (and after) the first conversation? The second? The third? The sales cycle gets stalled more often than not because the service provider (or seller) doesn't have a plan. Prepare for each conversation by asking yourself:
• What is my goal for this prospect?
• What is my goal for this conversation?
• What are my strengths going in?
• What are my vulnerabilities?
• Based on the answers, what can you expect and what is your planned next step?
Improv may be fine for comedy, but nothing will derail the sales express faster.
VII. Thou Shalt Advance The Sale (And Avoid Continuances)
An outcome of good planning will be your ability to advance the sale to a next step. How often do you or your colleagues call to follow-up with a client and say those uninspiring words, "I was just checking to see how things were going?" "Fine," the prospect replies. (Pause.) "Thanks for calling." (Really long pause.) End of conversation.
Supply answers to questions, new information, a reason to have a new discussion about how you can and will meet their needs. How can you help the prospect see the value you will provide?
VIII. Thou Shalt Make It Easy For The Prospect To Buy
Even after you have refined your value proposition, engendered trust, uncovered needs, planned, etc., the prospect still might have a hard time buying that $300,000 assignment as a first engagement. How can she try out your services to feel comfortable with a larger project?
The best way is to have an entry-level service that shows what you can do in a more manageable fashion. This can take the form of a pilot program, an upfront assessment, or a day of strategy development.
IX. Thou Shalt Provide Value In Your Marketing
When you sit down at the table with a prospective client for the first time, you might encounter one of two possibilities:
• Possibility #1: "I've never heard of you. I don't know what you offer. I don't know why you're here. Now what did you want to sell me?"
• Possibility #2: "I've read two of your white papers, saw you speak, and regularly read your newsletter. I love your website and your ABC Methodology. I've been looking forward to speaking with you for years now."
Of course, Possibility #2 is what you want to hear. You can accomplish this through your marketing activities, if you create and leverage value-based offers and experiences in your marketing efforts. If you do, the sales cycle will have already started before you even have that first exchange.
X. Thou Shalt Be Persistent
The average complex sale takes five conversations to close. How often do we drop out of the running, because we lose interest and quit the cycle half-way through? In the end, slow and steady wins the sale.
In Sum
By now, you may be wondering if all this effort is going to be worth it. Where's the shorter path in this sales cycle? I can assure you it is well worth it for you. But take heed of our friend Anonymous' admonition, there really are no shortcuts. Sales success in professional services takes a consistent and value based approach that works over time.
And maybe, just maybe, the flip answer was the right (and short) one.
THE TEN COMMANDMENTS FOR SHORTENING YOUR SALES CYCLE OVER TIME - To learn more about this author, visit Laurie Stafinski's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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