Thoughtful Thursdays – A sales process to consider – Recap of Target, Confirm Potential and Gain Approval
Today I will recap the first three steps of a sales process to consider and talk about obstacles and solutions I have encountered.
Step 1: Target
Building a prospect list sounds simple enough but is things are often not a simple as they seem. It is not only building a list, but a list of prospects. These are the people/businesses that are most likely to want to do business with you. They must be in your target market or the list loses value and ultimately will cause you to waste time.
My most unproductive prospect lists came as a direct result of under-researching the target market, not taking into consideration all relevant factors. This goes beyond the basics of the service or product offering and might include prospect characteristics such as:
- Core values
- Sales revenues
- Company history
- Industry standing
- Business psychographics
Key learnings: Know exactly who you are targeting before building your list of prospects. Do they meet your ideal customer profile?
Before you go looking know who you are looking for or you will end up finding someone else.
Step 2: Confirm Potential
Now that your prospect list has been scrubbed and you have made your ‘A’ and ‘B; lists, we can go to confirming potential.
I was most successful confirming potential when I was prepared fully prepared. I knew what I was going to say, in what order and had a set clear objectives for the call. In addition there was always an action plan in place for the next call regardless of confirmed potential or not.
Yup, it goes back to preparation. Avoid the temptation to short cut the process, over the long term it will not yield the results you are looking for in spite of what time you think you are saving.
One more time, set your objectives first. Then begin creating your scripts. Put thought into how you will establish rapport before asking questions. Speaking of questions, will the answers provide you the information you need to hear rather than what you want to hear?
Key learnings: Know your script and follow it. Be absolutely sure of your value proposition and anticipate objections. Above all pay attention to establishing rapport and build a relationship.
Step 3: Gain Approval
Once potential is confirmed I am of the thought that it is only a matter of time before the sale is going to be made. The approval step of a sales process to consider can be the the most lengthy of all the steps.
My successes in minimizing the length of the sales cycle came as a result of a well planned and executed third step. This involves a significant amount of asking, listening and communicating with clarity and confirmation. All parties played an important role in the process and were accountable for their commitments. It is always beneficial to appoint a champion to keep everyone on time.
Key learnings: Always have a plan and execution strategy. Know what you need to find out and do not be afraid to ask why. Do not leave anything to chance, and make a habit of confirming commitments.
To Recap
The common solution to many of the issues is planning.
Next week – the 4th step of a sales process to consider – Make Recommendations
Good selling,
Richard
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