MANAGING THE LONG SELLING CYCLE

Congratulations! You have reached the exciting level in your sales career where you are selling to The Big Boys. Until now the needs of your clients have been relatively easy to fulfil, especially if they are stock items. Quick turnover.

Well here’s a hefty dose of REALITY.

Gone is the short, profitable sales cycle. You want the big sales! Take a deep breath…..and prepare for the long haul….

Accept that what worked in the past is no longer relevant.

B2B sales cycles have changed and so must your approach.
Prepare yourself mentally for the ‘long haul’. If you are a runner, consider this as training for a marathon as against a sprint. Research suggests that it takes 7 months or more to complete the sales cycle to large organisations.

Building relationships is vital.

Your enterprise sales cycle will involve multiple meetings with decision-makers and you may have to present your products or services multiple times. Building a positive rapport is therefore of prime importance. You are going to see a lot of each other!
Getting to know your prospective buyer/s means more than discussing the organisation’s needs and problems. Study behaviour and personality patterns. Fit your approach and your strategy to appeal to the buyer’s personality.
On the flip side, your prospect is getting to know you Your potential buyer will be judging you – and therefore your company – on every action you take. Promote the service values you offer in addition to the benefits of your products. Your prospect must be made aware of your professionalism when it comes to after-sales service, delivery turnaround times, and your ability to follow up timeously. It’s an important trust issue in the relationship.

Become a super-sleuth

The more information you have on the organisation the better. As the sales cycle turns you will get an idea of the real structure of the company. You can drive your sales process by getting to understand who the supporting people are, what roles they play – and you can build relationships at that level that will prove highly advantageous even after the sale has been signed off.
Keep an eye on your competition. There is no guarantee that your company is the only bidder for the business. Research competing products, identify areas where you feel you have an edge and exploit them.

Keep up the momentum.

As in any marathon, there are times when the going gets tough and fatigue sets in. This is when you need that energy boost!
Your initial strategy should cover regular communication touch-points using various channels of communication. Keep the content – whether written or verbal – lively and informative. Remind the prospect of the benefits of using your company to fulfil their needs. Keep an eye the behaviour of competitors (this is where your relationship with support staff is valuable) and ensure you are always one step ahead. Keeping yourself front-of-mind is vital.

Crossing the finishing line.

The training, the patience, the energy and – most of all – the in-depth preparation will see you reach your goal.
Your regular communication with your prospect, the building of trust and your conviction that you have the right solutions for their problems will guarantee future sales.