6 Proven Ways to Speed Up Your Sales Cycle
Salespeople and marketers are continuously trying out new techniques to speed up their sales cycles and get their prospects over the line faster. Of course, some sales cycles are significantly longer than others. For example, consumers don’t typically don’t wake up one morning and think they’d like a new car and instantly go and purchase one. They do their research, they compare their options, they might change our mind once or twice and finally, they make their final decision. This can be a long process but there are techniques that can be implemented to help us to shorten our sales cycles. Here are 6 proven ways to speed up your sales cycle:
Disqualify Prospects as Soon as Possible
The first of 6 ways to speed up your sales cycle is to disqualify your lead as early as you can. The quicker you can eliminate prospects that are currently unlikely to become customers, the less time and resources you waste on them.
To do this, you must ask the right questions. Here are 5 questions that will help you to disqualify leads that may not be ready to convert:
- Who is the decision maker?
- When are you looking to purchase the product?
- Have you been in contact with any of our competitors?
- What is your budget?
- What are your reasons for purchasing the product?
Differentiate Yourself from your Competitors
With so many similar products and services available, unless your product is completely unique and innovative, you’re going to have some competition. Differentiating your company from your competitors is therefore one of the most vital ways to speed up your sales cycle and win more deals.
Think about the reasons that your long term customers are with you, what positive feedback have you had from your customers? What do they appreciate about your product or service?
Use this in your communications with your qualified prospects to eliminate the competition from their mind.
Send Targeted Content
Segmenting your email list and sending targeted, relevant and valuable content to your prospects is another way to speed up your sales cycle. Use this content to educate your prospect about your product or service and keep your company at the forefront of your prospect’s mind. Ensure that you are not always trying to sell to your prospect but nurture them through your sales cycle to become a customer.
Using marketing automation is another really effective way to speed up your sales cycle. Systems like InTouchCRM will nurture your leads for you, whilst you concentrate on getting the really hot leads over the line. Using automation, you can also set yourself tasks and reminders to follow up with prospects, meaning that you will never forget and therefore you avoid any delays on your part.
Define the Goal of Every Call You Have With Your Prospect
By defining the goal of every call you have, you’ll be able to speed up your sales cycle because you’ll stay on track and no time will be wasted on unnecessary conversations.
At the start of the call, set out how long the call will take; this will not only ensure you don’t waste your time but it will also show to your prospect that you respect their time.
Next, reiterate what the aim of the call or meeting is (this should have been previously decided when you booked the call in). Whether it’s too discuss pricing or to answer your prospect’s questions about your product’s features, define the aim and bear it in mind throughout your call.
Finally, before you hang up the phone, decide what the next step will be. This is absolutely vital in order to speed up your sales cycle. Leaving your next meeting or call unarranged could cause unnecessary delays!
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