Master the Sales Cycle

The sales cycle covers the entire process from the moment you first contact a prospect to after-sales service. Simply put, it’s the journey a potential customer takes from identifying a product they need to making a purchase. You can think of the sales cycle as a roadmap for salespeople. The sales cycle is therefore an essential part of sales training.

Understanding the cycle step by step:

After preparing for initial contact, here are the basic steps you should follow for an effective sales cycle.

1. Making contact

Once you’ve identified your potential customers, you need to reach out to them. The communication channel you choose depends on your Business or the type of prospect. It’s up to you to decide if the first contact should be a phone call, a traditional email, or a business letter. The goal is to reach out to potential clients in hopes of arranging a more formal meeting.

2. Qualifying the prospect

At this stage of the sales cycle, verify your potential clients as much as possible. This process may start at the contact stage, but most qualification happens during the first meeting. This step saves you time and resources by focusing only on qualified prospects. You want to know if they’re genuinely interested in buying your product or service. If your prospect can’t make a decision or purchase, ask your manager or supervisor to join the meeting.

3. Presenting your product with a pitch (the sales argument)

After identifying, contacting, and qualifying new prospects, it’s time to show what you have to offer. This is the most important phase of the sales cycle and requires the most preparation. You need to present your product or service in a way that solves the client’s problem. Show the client how your product can improve their daily life and how your Business stands out from the crowd.

optimize your sales

4. Handling objections

At this stage, your job is to manage and overcome objections. Don’t be afraid to challenge the context of their objections. Listen patiently and let them know you understand their concerns. Then restructure your pitch to acknowledge and overcome the client’s fears.

5. Negotiating

Once the client is reassured, it’s time to negotiate. Here, you look for common ground between your interests to reach a deal that works for both parties.

6. Closing the sale

This is the crucial moment! There are many different approaches to closing a sale, and it all depends on how the previous steps went. As a salesperson, your job is to read the mood and attitude of a prospect and adapt your closing style accordingly. If your prospect is listening closely to your story, you might be more direct with your delivery. Less enthusiastic or hesitant prospects require a gentler, more subtle approach. Go back to basics and remind your prospect why they agreed to meet with you in the first place. Remember, not closing a sale in the first meeting doesn’t mean the sale is lost. Some products, like large machinery or complex software, can take weeks or months to sell. The sales cycle continues until the sale is made or the prospect decides not to proceed.

7. Building a relationship

The best time for this is right after the sale. Your new clients will (hopefully) be happy with their purchase and may refer other clients. Their network can also benefit from the products and services you offer. So, ask your clients if they have colleagues or others who might be interested in your solution. You can also ask this later as the Business relationship develops.

Good to know

It’s important to remember that every sales process is unique, and no two sales cycles are the same. The steps can last from a few minutes to several months. But generally, each sales cycle follows some form of the seven phases above, whether in B2C or B2B. Learn, practice, and perfect your cycle to boost your sales and grow your Business.

Also, if you’re struggling to improve your sales cycle, there are several alternatives. For example, you can launch a sales game system to re-motivate tired teams by letting them train in a fun way. If sales games aren’t the answer, don’t hesitate to look into sales training. Many sales schools offer training and refresher courses in sales.