The Basic 7 Steps Of A B2B Sales Cycle : A Newbies Guide
“It’s all a patience game”
Starting a career in sales can be overwhelming or sound hard, but not if you do it the right way. This article is a guide for beginners to understand the sales cycles.
Let’s first take a look at the definition of a B2B sales cycle: The term sales cycle stands for all the steps of a sales process, starting from the first prospect contact to closing the deal and follow-ups. Simply put, it’s a potential client’s journey from recognizing their need for a product or a service to making a purchase. And since the sales process is a journey for a prospect it’s a roadmap for a salesperson.
Now we will explain each stage. Keep in mind that these stages can be adjusted depending on several factors such as the needs and the nature of the business itself, the client’s needs, and the market’s fluctuations and changes.
Main phases:
1 — Prospecting:
In other words, generating leads. Check this article in which we explained this topic thoroughly.
2 — Researching / Preparation:
Know more about your leads, do your research, and prepare well for your pitch. You can do simulations with your team and brainstorm possible questions the prospect might ask.
3 — Connecting / Approaching:
It’s the phase in which you reach out to your potential customers. You can use different communication channels such as email (we invite you to read the tips we suggested for writing an effective cold email in this article) and phone calls. Remember, you aren’t giving our full sales pitch during this stage. You’re just establishing contact with your prospect and looking to set a meeting with him or her in which you will discuss the offer in detail. Make your message clear and brief. From this first contact, you can start qualifying your lead.
4 — Presenting your product:
The product is a pain reveler. Sell the solution you use to solve the problem, not the product, it’s just a means. Create a visual image of the future of their business after using your product. Listen to your customer and ask questions to better understand their needs. And keep in mind that you are also selling yourself during the presentation, thus your body language for example can influence the sale.
5 — Addressing objections:
Here comes the phase in which you should overcome and manage any objections from your prospect. Try to be a good listener, let them know that their concerns are valid and that you understand them, and show them how your product is a perfect match and how you would solve these objections.
It’s not restricted to unqualified leads even the most enthusiastic prospects will have objections or hesitations, for example, the price is too high, the terms aren’t right…
Don’t be afraid, listen carefully, and give them the reassurance they need.
6 — Closing the deal:
The most wanted step, but not the last one. Your closing style depends on the prospect’s attitude and mode. It is your sole goal. So, if the meeting went well, and it’s all good, there is no need to have another one just to clarify things or close the deal. On the other hand, remember that just because a sale isn’t closed during the first meeting doesn’t mean the sale is over. The sales cycle is still in motion until either a sale is done or a prospect declines to proceed any further.
7 — Asking for referrals / Follow-up:
Congratulations! You made it to the last step. Now that you closed a deal, you have a new customer and your relationship with him/her is growing. Hopefully, they are excited about your services and would recommend you to others. You can ask them for referrals as well, but don’t do it right after closing the deal. Give yourself and give them time.
So, now you got your basic learnings on the sales cycle. Keep building these learnings. You can check our previous articles on different areas in sales. And don’t hesitate to contact us if you need help in pursuing a sales career.
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This article was written by Ghaya khamassi — Skills21 alumna.
