Things That Can Lengthen Your Sales Cycle - Failure to understand the buying process.
The process of scoping out a sales opportunity can take a few minutes or come as a result of several meetings with your prospect. A detailed understanding of your target's buying process will help you with your tactical plan.
Here are a few pieces of information that are on my list of what I like to know about my prospects' buying process:
- Are there other people that need to be involved?
- Are there alternate contacts?
- What are the time lines - is there any urgency?
- What is the product/service approval process?
- What is the supplier approval process?
- Are there any unique approvals or certifications required?
What you are seeking to know are the steps your prospect takes that result in making a purchasing decision.
The more you know, the better positioned you will be to minimize the time it takes to make the sale.
Happy New Year everyone!
Good selling,
Richard
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