5 Steps to understanding the sales cycle

by | Jan 30, 2013 | Education, Uncategorized

As most sales professionals know; at the heart of every sales endeavor and at the heart of most businesses is the sales cycle. This is the process or cycle that takes place that results in sales and success for your company. The thing to keep in mind is that understanding this sales cycle is extremely important and that those who truly understand the sales cycle actually won’t have to work that hard on the actual sales process as understanding the sales cycle is understanding the science behind sales today. Here are the five basic steps involved in the sales cycle. Keep in mind that these steps are progressive and moving from one step to the next may take some time depending on the readiness of your client.

Step One: Forming The Relationship

A great deal of the sales process relies on being able to give your customer what they need or want; but before you can do that you need to figure out what those needs and wants are. The first step in the sales cycle involves getting the attention of your customer and getting them to listen to you. As you start to form this relationship make sure that you ask a number of questions so that you know whether they qualify as a potential client.

Step Two: Developing Interest

Once you have the attention of your client and have developed this basic relationship; you will want to start identifying what their specific needs and wants really are. By asking questions and engaging in two way conversation you will be able to determine their needs so you know what to sell to them and how to sell to them. During this stage you will talk about your product or service, explain how it benefits the customer and determine if they are still interested.

Step Three: Providing a Solution to The Problem

This step, also known as the conviction stage involves two things. First, you must make sure that the customer knowns they have a problem. Second, you must convince them that your product or service will help them solve that problem and that your company can provide them with the solution you are looking for.

Step Four: Developing Desire

During this stage of the sales cycle; emotions come into play and the customer should begin to emotionally buy into your company’s product or service. During this time your customer should feel as though your solution really will resolve their problem and they will form a desire for your company’s solution. However, just because they want your product or service it doesn’t necessarily mean they will buy; things like price may still get in the way.

Step Five: Placing the Order

The final stage in the sales cycle is when the customer decides to move forward with your business and place an order for a product or a service.

To find out more information on the sales cycle and the five steps involved with this cycle, meet the professionals at The Sales Coaching Institute. They provide professional sales skills training.

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