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How to Shorten your Sales Cycle
Written by: John BrennanArticle Overview: Does it seem like it takes forever to close new business deals? You’re running strong campaigns, generating plenty of leads, seeing a flurry of sales activity. But even though your sales reps are consistently following up, prospects just aren’t ready to buy. Your sales cycle used to be 4 weeks, but now it’s 6, 8 or even twelve. And the longer it gets, the harder it is to hit your goals.
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How to Shorten your Sales Cycle
As a marketer or executive, how can you solve this problem? Do your sales reps need some training on their closing techniques? Probably – after all, most reps can refresh & improve to some degree. But it would be a mistake to just assume the problem is their closing skills. Even the best closers can face lengthening sales cycles.
Instead, take a step back and look at the big picture. There are three areas where your company can potentially improve:
1. Quality of the leads that enter your sales process. Are they truly qualified?
2. How well you execute the steps in your sales process. How strong are the materials, messages and process you follow to guide your prospects to a decision?
3. Addressing the reasons that prospects don’t buy – your value proposition, brand and pricing.
What’s the best way to evaluate which areas are most important? Get your sales and marketing teams together to constructively identify where you can collectively improve. These types of meetings often create fireworks. Sales will typically gripe that leads aren’t qualified. Marketing will counter that sales doesn’t execute well or use the materials they create. Keep the focus on overall improvement, not on placing blame. After all, sales and marketing share a common goal – to generate profitable revenue and happy customers.
Your first mission is to understand which leads are most valuable to sales and which ones they could do without.
* Are you reaching the right organizations?
* Are certain company profiles more valuable than others? Think beyond simple demographics – can you identify companies that have stronger pain and need for your product than others?
* Are you reaching the right decision maker within your targeted organizations?
* Is your initial message strong enough?
* Are you reaching prospects at the right time?
Once your teams agree on your targets, put together a priority scale so that sales can focus on the most valuable leads while marketing continues to nurture those that are less likely to buy right now.
Easy Way to Shorten Your Sales Cycle
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Article Tags: business deals, campaigns, new business, prospects, sales cycle, sales reps
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Related Forum Posts
Online Sales and Marketing vs Traditional
- Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Re: Online Sales and Marketing vs Traditional
- [quote="ltrahan":31w9r2iz]Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
I second the request...
Hello From Marietta GA!
- Hello All!
My name is Tim Naylor and I am in Direct Sales! I am glad I have found EC's sites and I hope to learn and share a lot!
taxes in canada
- Well in Canada we only have a few provinces and the Sales tax is slightly different. Here in Ontario the Goods & Services tax has reduced to 5% from 7% in the last year due to the promises made by the government in place.
Re: Watch What you Read
- I agree. i believe more video's should be like Jeffery Gitomers video's under his Sales rant. They are typically not more than 3 minutes. His model seems to be;
1. Main Message (or Point)
2. Example
3. Next steps to put it into Action
take away the extra "blabber" and you've got viewers that will come back.
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