Is it taking you more time than you’d like to close business? Is your sales cycle so long that it feels like you’re pushing a big rock up a huge hill to get a deal closed? Reducing the amount of time it takes to close business will benefit you in many ways. You’ll sell more, have a bigger sales pipeline, and not waste your time pursuing opportunities that have no chance of panning out.
A key element of reducing the sales process is to insure your customer is fully aware of the value that your product or service will provide them. If you’ve established a return-on-investment, it provides more motivation for your customer to buy. Adding incentives to “buy now,” such as discounting the fees or providing additional services can also motivate your customer to make a decision sooner.
One of the real threats in stretching out the sales cycle is not knowing who the decision maker is. Often times you may be interacting with someone who is not capable of making a decision. They may be an evaluator or user of your product or service, but they don’t have the authority to sign the order. The key to this is to establish relationships with those individuals who will either influence the decision or actually make it. Spend your time with those who can make a decision!
Anticipating potential objections to your customer buying is also a way to facilitate closing business faster. If you have well-thought-out answers to questions that may prevent a decision to be made, this will remove obstacles. Closing business quicker is a mainstay in increasing revenue in your small business.