Sales cycle stages

1. Sales Cycle Stages SalesBabu CRM For Small/Medium Size Business & Startups M: +91 9611 171 345 Email: sales@salesbabu.com

2. What is sales cycle? Identification of services or goods to be procured, the acceptance of the intended purchase, and the transaction that completes the sale. Basically in a sales cycle, the main agenda of sales person is to rely on the stages which promotes close of deals. During the sales cycle there are series of phases which occur during the selling of product or service. M: +91 9611 171 345 Email: sales@salesbabu.com

3. Seven sales stages of sales cycle • Prospect To sell your product or service you will require prospective customers. In the prospective stage you need to keep a check on how you are different from others in the market. Prospecting your customers can lead to lead generation. Once you are confirmed with prospects, you can reach out and connect as well. 2. Connect with the prospect You can reach your customers out through cold calls, emails or by using social media like Linkedin or twitter etc. You may use any method to set appointments and get connected. 3. Qualify the prospect • Know which services are required by them and if your services are there in their budget etc etc. • Make sure if they will need the service again. • Lastly if its a big Yes, you get the green signal to qualify the prospect and label them as a qualified client. If no, he/she is not a qualified client. M: +91 9611 171 345 Email: sales@salesbabu.com

4. 4. Make the presentation Presentation of the product is the core stage of the cycle for sales. You must always remember that you are not just selling your product but you are also selling yourself as a person to trust. You must let them know how your product or service stands out from the others in the market and can also improve your customer’s operations due to its usage. 5. Overcome the prospect’s objections As it at least means that your prospect is considering to buy. Or else he/she would not even bother to work out the potential problems. Their objections in the cycle for sale stage may be about the price, terms or past interactions. Be patient to listen to them and try to overcome the objections. M: +91 9611 171 345 Email: sales@salesbabu.com

5. 7. Generate referrals Right after the cycle for sales, you can go along with generating referrals. You can ask your customers to refer any of their friends, family members or colleagues who can be benefited with the product or service. Or you can also ask referrals once your business relationship grows also. 6. Close If the prospect has agreed you can get him/her along with the further paperwork. But if it's a “No”, try to circle back to the main points on why the prospect was fine with the product when it was pitched. And if it's still a No, you will have to walk away from their business for the time being. Which means if a sale isn't closed, that doesn't mean it's the end of sale forever. M: +91 9611 171 345 Email: sales@salesbabu.com

6. CRM sales process Prospect customers do not act in the same way as qualified customers. You need to rightly define the sales stages in the CRM. Knowing which sales stages you require in your sales CRM pipeline is the initial step to move your customers through the sales funnel stages. Your business may be of any size or you might be from any industry. The seven sales stages of the sales funnel stages will help the sales team to move the customers from one sales stage to the other sales stage in order to achieve success in the sales process. M: +91 9611 171 345 Email: sales@salesbabu.com

7. Sales funnel management The sales funnel stages is a visual picture of the number game in the form of a funnel. If you analyze the number of leads that has been entered in your sales funnel stages and the number of leads converted to customers, you may probably find that there is a large dip. Sometimes the prospects tend to quit the sides of your funnel when their needs don’t match the services that you are willing to provide them. Moreover, it’s almost impossible to retain every prospect who has entered your funnel. It is important for your sales team to make efforts to retain the ones who are ready to buy your product or services. But, when the number of leads are given, that fill your funnel, sales teams will have a tough time converting those leads into customers. As they cannot predict it. This results in un-qualified hot leads in the top of the funnel that either drop out due to slow response times, or remain stuck in the middle of the funnel, eventually becoming cold leads. For a business, it means missing out on an important opportunity. Though there are more ways you lose leads in this sales funnel stages. M: +91 9611 171 345 Email: sales@salesbabu.com

8. Sales cycle in CRM The sales cycle stages has a series of seven phases which occur during the selling of product or service. An effective CRM software enables you to sort the qualifying leads. It also registers the enquires and conversations with details of the client. It helps to capture the maximum information of the customer’s requirement. The best CRM software will bring in the chain of benefits. M: +91 9611 171 345 Email: sales@salesbabu.com

9. Many Businesses trust Salesbabu, including M: +91 9611 171 345 Email: sales@salesbabu.com

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