Between the time you start prospecting a new client and the time they close the deal, there are a few steps that make up your sales cycle. With some variations depending on your business, the steps are generally these:
Prospecting >> Opportunities >> Proposals >> Probable Deals >> Closed
In other words, you prospect new clients, identify business opportunities , prepare proposals to sell your products or services, follow up on deals until they become likely and close them .
If you analyze your potential current customers and identify which of these stages they are in, you will be able to generate a picture more or less similar to this.
Ex:
In the blue squares, you fill in the number of possible deals that are in each stage. Then, you fill in in green the percentage of deals that have advanced from the previous stage to the next.
With this data, you will be able to monitor your entire sales process, measure results and, most importantly, identify where the problems are.
In the case of the image above, the biggest problem is between the Probable and Closed Business stages, which have 37.5%, but this varies according to each company. After setting up your funnel and identifying where the lowest percentage is, see below the list with possible solutions to the problem in each stage:
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From Prospects to Opportunities
– Study your customer profile better and don’t waste time with those who don’t buy your service or product – Investigate better to identify business possibilities that you are not noticing
From Opportunities to Proposals
– Set aside time to prepare proposals – Consider hiring someone canadian cfo email list to prepare proposals – Focus on the proposals that are a priority
From Proposals to Probable Business
– Set aside time to make calls and follow up on proposals – Make sure you are not issuing proposals to clients with a low chance of being closed
From Probable Deals to Closed
– Practice taking the client to closing – Don’t be afraid to close deals – Set aside time to follow up on deals
It may seem difficult at first, but make tracking your funnel a habit and see how your results will improve dramatically.