Accelerate Your Sales Cycle with Sales Automation
Every company aspires to abbreviate their sales cycle and find strategies to speed the sales cycle. Why? Because they want to raise income and achieve their objectives more quickly.
This can even help you complete business more efficiently. However, it is not always as simple as it appears. Take a look at these figures. According to Implicit study, the typical B2B sales cycle time is 84 days to turn leads into prospects.
According to a Harvard University research, at least 25% of B2B sales cycles take at least 7 months to close.
These figures imply that it is critical to speed B2B sales whenever possible. Learn what a sales cycle is, the processes involved, and numerous approaches to speed the sales cycle with this tutorial.
What exactly is the Sales Cycle?
The sales cycle describes a company’s whole selling process. It displays the customer journey from lead generation to closing at various phases. It comprises all of the operations required in converting prospects from referrals to paying customers.
However, there is no universally accepted definition of the sales cycle. It will change depending on the intricacies of the firm. A robust sales cycle benefits your sales personnel by providing a stable structure for them to operate inside.
Different Steps in a Sales Cycle
The sales cycle is divided into segments that correspond to the stages of your sales funnel. Each stage serves a purpose and defines an action that your sales person must do before moving the deal further. The following are some examples of typical stages:
Prospecting
At this point, your sales representative will utilize your buyer personas to assist them locate prospects who fit your ideal customer profiles.
Leads might be created through LinkedIn or marketing efforts such as missed call marketing. They compiled a list of prospects to call after narrowing the leads.
Contacting
The next step is to contact your leads and determine where they are in the buyer’s journey.
This will assist them in determining what the prospects will require next.
Sales representatives generally base their main inquiries at this point on BANT when speaking with prospects ( Budget, Authority, Need, and Time).
The sales representative will ascertain whether the lead is genuine about finding a solution to their issue and whether they might eventually make a purchase. Thus, time and resources are not wasted on unqualified candidates.
Nurture
It’s time to nurture the possibility now that you are aware of their issue. To keep your leads interested in your business, you may send them timely email marketing campaigns or SMS marketing with pertinent material.
Make a proposal
Look for lead behaviors like requesting quotes or signing up for a demo. Make a sales pitch at this point and end it with a suitable offer.
Your leads may require further information or have concerns about cost, timeliness, or other factors. This might prevent them from concluding the transaction.
Your sales agent should properly react to these queries so that they may remove these hurdles to closing success.
Complete the transaction
At this point, your lead is satisfied that your solution is the best fit for them, and the sale is closed.
After closing, greet the customer and answer any other questions they may have.
Role of Sales Automation
With your newfound understanding of sales cycle management, you can start formulating your next steps and ideas for quickening the sales cycle.
Automated Lead Qualification
One of the most crucial aspects of a salesperson’s daily tasks is lead qualifying. It can raise your team’s success rate if done properly. However, if it is assumed, your sales staff will produce poor results since they will be wasting their time on non-buyers.
You should select sales automation tools like Office24by7 that can automatically qualify leads if you want to improve sales performance. Your sales staff will be able to devote more time to more potential customers by automating lead qualifying.
This is accomplished through the use of lead scoring and lead grading. Lead grading determines if a lead meets the desired lead profile based on factors such as company size, geography, and so on. Lead score, on the other hand, assesses the prospect’s interest by monitoring their activity levels.
Lead Nurturing
According to the poll, 76% of consumers require different material at various points of their purchase process.
To nurture leads, you must give varied content at various phases of the sales process. By sending them regular updates and information via email, your leads will be sales-ready when you reach out to them, requiring less time to convert.
Automate the Followups
Although they may appear tedious, follow-ups give your clients a sense of importance. And a sales automation software like Office24by7 with automated capabilities is the finest tool for the job.
Send follow-ups to your prospects with drip email marketing at critical points in their sales cycle. The salesperson’s job is diminished as a result, but it also increases their effectiveness. Additionally, the possibility of sales funnel leaks will decrease.
Lead Tracking
You can fully utilize the tracking and analytics aspects of your CRM by using an integrated sales and marketing solution like Office24by7.
Your prospect’s exact position in the sales funnel will be known to you. You may also learn a lot of information about your website’s visitors, including who visited, who downloaded, and what activities they took there.
How Office24by7 can Help You?
With sales automation tools, such as Office24by7, you have access to tools that allow you to enhance your sales cycle and ensure that you are operating at peak productivity.
It provides the finest insight into the lead’s stage and when it could be a suitable opportunity to follow up later along the cycle.
You may configure the dashboard with categories or reminders of the sales stage. This will improve your visual comprehension and familiarity. Office24by7 allows you to qualify leads for sales. Additionally, this system has integration for customization, analysis, and productivity.
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