Have you noticed the sales cycle had gotten so much longer in today’s marketplace? They say (not sure who they are) that in tough economic times it can take eight to ten touches to close a sale. In a healthy economy only two to three. However, in an uncertain economy – which is the economy we are in right now – it can take as many as 15 to 16 touches to close a sale.
If you have to interact, touch a customer 15 to 16 times to get a deal to close, well you are going to go out of business. To succeed in today’s marketplace, you need to shorten the sales cycle – get those interactions and those touches down to reasonable amounts – so that it is still cost-effective to gain new customers.
So how do you shorten the sales cycle? You begin by understanding that not everyone wants to do business with you. Yes, it’s true. Guess what – you don’t want to do business with everyone. You know what I mean. You have clients, customers right now that drive you crazy. They haggle with you on price, they constantly call with issues and complaints, and they are just tough to deal with. So why do you – deal with them that is?
Success today is about understanding who your type of customer is, whom you fit best with. Everyone has a type; someone they love doing business with. Customers who love your products, pay your prices and want to do more business with you.
The more you do understand who your best customers is, the more you will quickly identify your best prospects. And when you choose better candidates, you not only enjoy the sales process more, but you also shorten the sales cycle.
4 Effective Tactics to Shorten Your Sales Cycle and Improve Your Close
- Niche To Expand – first write down your top ten customers. Those top ten, meaning these customers who bring a smile to your face. You enjoy working with them, and they enjoy working with you. They have or should have more of your products. They are growing and expanding, and most importantly they pay you!
- Catch the Themes – once you have your list made. Step back and look at it. Take a long-extended look at it. You will begin to notice themes, things they have in common. Maybe they work in the same industry, or perhaps they sell similar products, maybe they are the same age, or the company is in the same growth stage. Whatever it is, write down as many themes as you see. This list, these themes, become the description of your ideal client.
- Use Your Ideal Client To Choose Your Ideal Prospect – now with your ideal client-defined; you have the list, the description you should use to choose your prospects. The more your prospects look like your ideal client, the easier the sale will go, the faster it will move to close.
- Reach Back Out –To your clients, your referral sources, your friends and family. Tell everyone whom you are looking for, and whom you want to do business with. Then they’ll know exactly who to send to you. Again, the more you are in front of your ideal prospect the faster the sale will go.
Sales today is a challenge, but if you understand the marketplace, use these strategies effectively, you will not only shorten the sales cycle you will put yourself in the position to succeed no matter what this economy does.
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