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Articles > 10
Ways to Shorten Your Sales Cycle
by Monica Calzolari
- Ask your best
customers why they chose to do
business with you and learn the "real"
reasons that attracted them. Their answers
may surprise you. What is your "special
no risk offer"? Or your "satisfaction
guarantee"? Was it chemistry with the
sales person? Was it quick response time?
Was it the product? The price? Or a combination
of these influences? Use this feedback
to modify your approach to future prospects.
- Find out what
your best sales people do to win
the order. Teach the rest of your sales
force these principles. Invest in sales
training. Cassette tapes by master such
as Brian Tracy and Jeffrey Gitomer are
an inexpensive way to reinforce sales
tips during drive time.
- Make sure every
communication you have with prospects
highlights what’s in it for them.
Customers and prospects care about benefits.
Audit your letters, email and marketing
materials to see how loudly and clearly
the benefits of your products or services
are stated.
- Audit your sales
process. How involved is marketing?
Are the two functions closely integrated?
They should be. Your customer service
employees and sales force have a lot of
contact with prospects and customers and
therefore have valuable input for any
marketing materials being prepared. Before
you spend a lot of money on a fancy brochure
or web site, find out if the key benefits
you are featuring are the same ones the
customers feel are important.
- Segment your
key prospects and speak about benefits
that relate to them specifically. Generic
benefits are not compelling. For example,
business people, nurses and engineers
have very distinct needs and characteristics.
You must tap into their preferences.
- Prospects also
have preferred methods of communication.
Engineers generally prefer e-mail
communication. Others may prefer the telephone.
Still others prefer face-to-face appointments.
By learning these preferences and honoring
them, you will personalize the selling
process and distinguish yourself from
competitors.
- The purpose
of marketing is to increase sales. Marketing
precedes sales. Before you can close a
sale, you must create awareness and generate
leads among a well-defined target audience.
Marketing can help you identify the prospects
who are interested, ready and able to
purchase your product or service. Having
a steady stream of pre-qualified leads
will free your sales force up to spend
more time with prospects and less time
chasing suspects.
- The easiest
way to shorten your sales cycle
is to clearly define your ideal customer
very carefully and then invest in a list
of exactly these types of prospects. It
will take some testing and experimentation
to establish who is ideal and what lists
are available in a price range you can
afford.
- Networking is
highly overrated. It is difficult
to be targeted. Many businesses say most
of their customers come from referrals.
Referrals are a viable way to increase
business; however, in my experience, it
is a slow process. It takes years to build
brand recognition and years for word of
mouth to spread about your product or
service. If you want business quickly,
invest in marketing to a targeted group
of prospects on a consistent basis.
- Keep your pipeline
full by generating leads year-round
with a very deliberate and strategic marketing
plan of action. A Stanford University
study coined the term "Nurture Marketing"
and recommends 12 exposures per year to
break through the clutter. Prospects buy
when the timing is right for them, not
when it is convenient for the sales person.
Therefore, to be on their mind when the
time is right, you must be marketing to
them year round. Prospects have many choices
and many sales people competing for their
attention. Your message must be relevant
to their needs. As you get to know your
prospects, your message will change to
fit their needs.
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