4 Effective Ways To Minimise Sales Cycle Process With Marketing Automation
September 16, 2019
What is sales cycle process? How can marketing automation help you to shorten your cycle of sales? Other businesses dislike using automated help for their companies because they have this belief that it will make them lazy. This article is here to help you figure it all out.
The cycle of sale is the process all enterprises experience when selling something to a prospective customer, from the first contact to the closing sale.
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All businesses, big or small, dreamed of having a faster return of investments. A short sales cycle process can help with that dream. Having rapid cycles is better for all businesses because studies show more than 35% of transactions fail because the longer time to make a sale, the chance of the sale failing is also high.
Each cycle has its stages. The sales cycle process for one also has its stages. Here are the steps in the cycle;
You need to find the right prospects to sell your products or services to. You need to highlight what problem your product can solve. You need to show the connection between your products or services to your prospective clients.
After identifying possible clients, contact initiation will be next on your list. Researching well about your prospective client is the best thing to do. After researching well, you need to contact your possible clients on the platform they are most comfortable with communicating. Listening to your client’s problem and suggesting solutions with regards to the problem can help you leave a good impression for that client.
You need to tell your prospective clients the solutions you offer and every single detail of it. You need to make sure that the prospect needs your products or services. You may include asking for their budget and requirement frequency as to further solidify your transaction.
The pitch is the most important thing to put in mind when it comes to presenting your products. This is the process of selling your product to prospective clients. Let them feel that the product or services you’re offering are built explicitly for them.
Products presenting is an art that also needs mastery. Knowing full well the details of your products is a significant boon into selling it.
This stage of the cycle focuses on solving any concerns of prospective clients such as pricing, features of your products or services, etc. Patiently addressing solutions to these concerns can help you further improve your selling style and come up with a better one next time.
The success of the previous stage is directly proportional to the success of this stage. There would be a high chance of success if the product were pitched nicely and fully transforming prospective clients to official clients.
The final stage of the cycle is about generating referrals. Once you closed sale, you are supposed to request a reference for your products or services to the client’s friends or other business partners. Referrals are one of the things you should try to acquire whether you struck short-term or long-term cooperation with your client.
Every sales cycle process different for every industry. Not all industries have different durations for their cycles. Some enterprises may only take minutes to finish while some may take hours, days, or maybe even weeks to complete a period.
Having a slow completion of the cycle of sales is a huge problem for other enterprises in the industry, trying to increase their return of investments further. It is also one of the reasons why they find ways to shorten this cycle. The only downwind of these tasks is that it will take a considerable workload for enterprises, not to mention small start-up businesses.
Marketing automation can help you lighten the burden of having a massive workload for the cycle shortening. These are the things that Marketing Automation can do on the shortening process if you use one;
As a business owner, you need to know what kinds of prospective clients you need to focus on and what other ways that could help you determine this problem. With Marketing Automation you can sleep with no worries. It can quickly classify the worthiness of the leads based on Recency, Frequency, and Monetary or RFM parameters.
RFM parameters is a method that will help you target specific customers in need of your products. By doing this, it will help the management of any particular company to know, which leads to focus their efforts entirely and which leads to put on their low urgency.
This feature of Marketing Automation is very beneficial because this will help companies and clients alike not to have any miscommunication whatsoever. A lot of business relationships fail because of the lack of communication and marketing automation can help you avoid that situation through algorithms.
Customer Relationship Management is the process of interacting with prospective and current clients. CRM covers tasks like generating, nurturing, and acquiring leads. It also does segmentation and re-engagement of customers to improve relationships with clients and increase sales growth. With Marketing Automation, all of these tasks will be efficient and systematic.
Marketing automation do all follow-up interaction you need to get a faster response from leads. It can be like an overseer and manage which clients aren’t right and which are promising. Automation can help you convert prospects to customers in a more efficient way.
In shortening your sales cycle process, marketing automation is beneficial. It’ll save you some time to do other essential things for your business. Marketing Automation tool can also be personalised so you may adapt if ever specific changes may come.
See for yourself the wonder of marketing automation and be amazed at the help it can give to you and your business. Get one for yourself today.