There are more reasons than ever for your prospects drag their feet when it is time for them to close a sale with you. The economy is in shambles, people have a tighter hold on their purse strings, and many businesses are struggling to stay afloat. Here are a few things you can do to speed up the sales cycle, according to Claire Murdough, writing for HubSpot.
3 Easy Ways to Speed Up the Sales Cycle
Be More Efficient at Scheduling Sales Meetings
All too often, scheduling a sales meeting with a prospective customer turns into a never-ending game of email or phone tag. Instead of asking your prospect what day and time will work for them, suggest a day and time for you to meet up or talk. Include in your message to them that it is fine if the time you have picked out does not work for them. But, if that is the case, they should suggest a day and time that works for them in its stead. Or, you can use a scheduling tool that lets the prospect pick from your available dates and times. If you can reduce the back and forth of scheduling a sales meeting, you can speed up the sales cycle.
Utilize Current Your Client Recommendations
Your prospective customers want proof that the purchases they plan to make are worth their investment. That is why many of your prospects will turn to the online reviews made about your product and services. You can speed up the sales cycle by making sure your product's or service's reviews are easy for future prospects to find. You can also show off your satisfied client's reviews during your sales meetings. More likely than not, your prospect will do their research on you before your first full sales meeting. Even so, it is good to have recommendations from current clients handy to showcase during the meeting, especially if that client experienced a pre-buying concern that is common among your prospects.
Expose Objections ASAP
Objections are an inevitable time eater during the sales process. To speed up the sales cycle, you need to ask your prospects the dreaded question, “Are there any reasons you see this product or service not working for you?” as soon as you have educated your prospect on your product or service.
Remember that objections won't only come from the person you've been speaking with. As soon as you can, find out who else is involved in the purchase process. Decision-makers can range from the head of finance to the end user. They may not all have equal authority to stall the purchase, but they know the internal politics and they know which questions to ask to stall your momentum.
“The exact points at which to ask varies based on your sales cycle,” says Murdough, “however, most salespeople should start seriously hunting for objections after the discovery call.” If you can get the prospect's objections out of the way in a timely manner, you will get to the close faster.