In the digital age of sales world, when a simple touch can explore thousands of sales and marketing mediums, it is critical that you leverage your sales capabilities to identify and communicate simple insights into valuable information that make your prospective customers believe that you are ahead in the competition and are eager to learn more.
Let me share the inside sales story of an entrepreneur to reveal secrets of cracking more deals in lesser time.
“We all must be familiar with the ABCs of sales i.e. Always Be Closing, that is derived from the famous Alec Baldwin’s speech in “Glengarry Glen Ross”. But have you ever dig a thought process behind the metaphor? As a novice salesperson early in my career, I had heard this ABC statement millions of times from my manager and put my head, heart & soul to be an edge ahead of “closing”. However, my product quoted a straight $50,000 and after spending like hours on demos, calls and meetings, nearly 90% were significantly termed as closed deals, while some of the hook-upsend up as a total waste of time and resource. Being an entrepreneur, I would suggest that “Always Be Closing” should not always be closing the deal but opening new relationship with the prospect and closing the next sales stage by leaving a memorable impact on them.
How Do I Streamline My Sales Closing
Now that you have bits of understanding aboutmy sales experience, let’s have a look at my sales mantra that I’d like to call as A.C.T. that assisted for structuring my deal closure and even recommended to my sales bandits. ACT stands for:
- Advice: To your prospects regarding the product summary, ready to use facts & figures and how your product has an edge to solve their business and personal need.
- Continue – Your follow-up emails, calls, and informal greetings to bind the prospects’ interest in your product/services.
- Transform – Them into profitable relationship wherein the lead may,or may not get a deal closure but will remember you in the long run, whenever the need arise.
Like filtering out not-so-used edibles from the pantry, most sales pipeline benefit from the backlog and it is recommended to double check the feasibility of converting them into a fresh recipe/or lead.After analyzing the dead accounts, you will realize there are number of stagnant deals which have either lost the momentum, or were never real in the first place. In case you still wish to continue your 2019 sales pipeline with such omen deals, you will restrain yourself from lining up the sales funnel with qualified new opportunities and end up repeating the same sales cycle with no or less hope of recovery.
To make your sales calculations easier, you must ask:
Are those leads real and will I get any benefit from them?
With increasedcompetition, what is the USP of my product?
Should I follow any sales strategy, or are my prospects anyway interested in becoming my client?
It’s great to know that you are aspired to achieve your target, but if you are clueless about your sales stage, it will be difficult for you to prevent the counter attacks. Researchers revealed that 40% salespeople believe that finding the prospect is the most challenging area, followed by identifying the qualified leads and then comes the pain area of closing. However, if a lead is taking a lot more time in the sales cycle and not likely to progress toward the stated goal, it’s better to involve your seniors and escalate the issue internally. Honestly, if you follow to ACT as per my time-tested sales experiences and suggestions – you’ll rapidly accelerate your professional growth.”
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