Selling in today’s market place
How to Shorten Your Sales Cycle
To sell in today’s market a fantastic value proposition is necessary. You want to be able to paint a financial picture of what you can deliver.
Why does it take longer to close certain projects? One reason is most sales people leave out the urgency to buy in their presentations. They do a great job of describing their company, the current clients, and an overview of their product or service. Most stop short of tying it all together into one nice offer. Instead they expect the client to do that by building a business case and cost justification for the purchase on their own. Sellers today believe in “following procurement guidelines”. This leaves them short from painting a full financial picture. There is a better way to sell today.
Prospective clients don’t begin building a business case for upper management until they have researched vendors and solutions, short listing a few, and narrowing their finalist list. Then they turn their attention to creating a business case that includes a financial picture. Maybe it doesn’t work exactly this way in your industry, but it is common practice in most market verticals.
If you first presentation secured your value proposition and included a financial picture, do you think you would shorten your sales cycle? Typically, it Is the business case that is necessary for a decision. A lot of salespeople lose it here and provide their same corporate presentation without providing the financial picture……” Why us and why our solution/product/service”? This is awful because it creates work for the buyer.
Your team will need to discuss what metrics will be in your financial picture you will paint. The Painting needs to be why us and our company. This will set the hook and create more urgency than usual. When the prospect asks how you can verify your statements, you have an excellent opportunity to shorten your selling cycle. Your presentation needs to be a mini business case.
Salespeople should propose a short financial analysis at the front end of the sales cycle. Another benefit of proposing some form of mini business case is that it helps smoke out a prospect’s level of interest.
Companies that use this approach like the fact they are presenting the net-net of their offer early in the sales cycle. This helps them gauge whether the opportunity is worth further time, attention, and resources. This is an open, direct, and honest way to prospect. A sophisticated buyer will respect and appreciate this approach.
This approach helps you weed out those who are just browsing. It will also assist you in staying connected to the top of your client’s organization. Senior level executives review financial and quantitative pictures that usually creates the urgency and cost justification to move forward.
Painting the picture as much as humanly possible is your primary way to shorten the sales cycle. This approach has been proven to be effective for many organizations.
I have been working with Joe for about five years. He has helped a great deal of my team open doors that would have otherwise remained closed. He is amazing using a step by step approach that has assisted Dell in achieving our goals.
CEO, Dell Inc.
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We have had the pleasure of working with the best speakers and trainers in the world. Joe brought our audience alive with insights and ideas that will change the way we approach business forever.
VP Sales Operations, North America Sales and Service. Unisys Corporation
Cincinnati, OH 45249.
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