How to Better Manage Your Sales Process


When managing your business, there are a lot of things involved in finding and retaining clients. It's not uncommon for businesses to excel at one aspect (i.e advertising and finding customers) but flounder at another. One part of the business-client relationship that many business owners often neglect or fail to fully grasp is the sales process – the set of steps that encompasses the entire transaction with the customer, from initial introductions to closing the deal. Without a well-organized sales process, you might find yourself losing out on a lot of clients, who will no doubt find another business that can tend to their specific needs in a timely and professional manner.

If you find it difficult to retain customers once you have located them and piqued their interest in your product or service, it likely means that there are parts of your sales process that could be improved. The following three steps are parts of the sales process where businesses commonly make mistakes, causing them to lose out on business and customer satisfaction. Applying these principles will help you better manage your own sales process. In doing so, you'll find that your customers will leave happier and more satisfied, increasing the chance that they will become repeat customers.

1. Understand what your customer's goals are and provide a solution
    Everybody wants to be heard and listened to. But in the business world, this isn't just a matter of one's feelings. Nobody goes to a business wanting to chat – they go there because they have a need to fill, and they think that you might be the one to fill it.  

    For instance, if you have ever visited a car dealership looking for something modest, how often did the salespeople actually listen to what you were asking of them? How often did they try to get you to buy something more expensive irrespective of your stated needs? Did they actually listen to you when you described what it was that you were looking for? Car dealerships have a slimy reputation partially because their salespeople are not motivated by a desire to find a solution to your problems, but rather a desire to make that sale and get their commission.  

    While this practice is widespread enough not to impact any one location, customers will notice if you're trying to sell them something without considering what their unique needs were in the first place. When you meet with them, get to understand exactly what they are looking for. Once you understand their needs, then you can work towards providing a solution that solves their problem and proves to them why you are the right person for the job.

    2. Understand your customer's budget and try to stay in that range
      Ideally, you could charge a higher price for your products and not see any corresponding drop in business. That's not how things work out in reality – the competitive nature of capitalism thrives on the idea that customers make rational decisions with their money – they seek to maximize their gains while minimizing their losses. Economists refer to this as the elasticity in prices. This is why your potential customers will often come to you with a budget – they want you to provide a solution to their problem without spending more than they have to. Make sure you respect their given budget and try to work around it, rather than trying to get the customer to spend more than what they want.  

      3. Simplify the purchase process by offering electronic signatures and easy way to accept payments
        The last part of the sales process is the completion of the job and collection of the payments owed to you. Just as a first impression can be incredibly important, the last impression is even more so   - it's the last thing your customer will remember in their dealings with you, and if the final authorization of payments is a difficult and drawn-out affair, that will stick in their minds the next time they think about purchasing your goods or services. 

        Electronic signatures and online payments are excellent ways of reducing the wait time involved – you cut out a lot of paperwork and middle entities involved in finalizing payments. Simplifying this process will leave the customer with a sweet aftertaste, and this will do a long ways towards making them repeat customers.

        Source: How to Better Manage Your Sales Process

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