A cornerstone of my consulting and training is a 5-step consultative sales process I crafted during my 25+ years of outside sales. I identified 5 key stages which when followed sequentially and completely will equip you with a process to build and sustain an opportunity pipeline; maintain sales momentum; and close deals. They are:
1. Research and Rapport
When you’re relationship centric in selling, you take time to learn about the person you'll be approaching. Check out their Linkedin page, the company website, and the latest press to gather some intel that will equip you to open a comfortable and engaging conversation. Be patient – the sales stuff will happen soon enough.
2. Needs and Challenges
This is a critical stage. It’s important that you gather a complete scenario of the needs and challenges of your prospect – making sure to gather the perspective of not only those who will influence the sale but those who will be impacted by it.
3. Budget and Decision
Budget and decision conversations are often entwined. It’s important that you understand not only how and why budget and decision are related in your prospects’ company, but also what the associated timeframes are and how they impact your and their implementation or product delivery. Timeframes for decision making (and contract execution) may affect those timeframes. Make sure you have the full picture.
4. Propose and Close
Your proposal should never hold surprises – especially when it comes to cost. When writing and delivering a proposal, recap what you’ve learned about the company and its needs and show how your solution makes a contribution. Demonstrate how pricing will deliver a return on their investment.
5. Post-Sell and Upsell
Pay as much attention and effort to delivering customer service that ensures your new client’s success as you did to win the account. Realize that your greatest source of new business is your current clients. Remember that the cost and effort of regain a lost client or replace one is significant.
In five more upcoming weekly blogs – released each week – I’ll delve into greater detail on each of the five stages – offering insights to consider in your effort to sell more consultatively, confidently, productively, and effectively. To your success.
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