Tired of the slow sales dance?
In the wild world of business, slow sales cycles are like that annoying traffic jam when you're already late. It's not just a buzzkill. It's a revenue roadblock.
After all, time is money, and a prolonged sales process not only keeps you from driving revenue, but it also diminishes the chances of converting leads into loyal customers. There are a number of ways sluggish sales cycles manifest in businesses, but the question is what do you need to do to expedite your sales journey?
Insight: Lack of sales can kill a business when its underlying issues are not addressed.
Data: Most companies (95.4%) face annual revenue losses from operational issues related to poor lead lifecycle management. (Tray.io)
Key Action Point: Speed up your sales cycle with these four tactics and pair them with a reliable Proposal Scoping Tool.
What's Slowing Your Sales Down?
Let's break it down. First, picture this — missed chances, endless decision-making, and an overall lack of urgency and ownership when dealing with potential clients.
That’s what a sluggish sales cycle can look like. They usually mean there is a lot to manage. In most cases, clients often forget what we tell them. The longer it goes on, the more cost is involved.
It happens when our communication game is off, touchpoints are generic and vanilla, and the value pitch is MIA. Understanding the causes is the first step toward revamping your approach and reinvigorating your sales cycle.
Speed Up Your Sales Cycle With These 4 Tactics
Now that you know why sales are slow, let's peel back the layers and figure out how to turn things around.
1. Use marketing automation tools
Frequency is one of the biggest weapons any salesperson can have.
By the time a new client makes a decision, they should have had up to 15 touchpoints with you. While this is 5 times higher than the average B2B conversion process, this is guaranteed to get you top of mind.
But with daily operations, existing clients, and current projects — who has the time and headspace? We don’t have the luxury of time to spend on making sure we’ve emailed clients or spoken with them.
This is where marketing automation can help speed up the sales process.
With automation workflows, you get to streamline communication and provide relevant content at crucial stages according to their needs. This keeps you top of mind and enriches your client relationships — making them feel prioritised and understood.
2. Focus on delivering value vs simply following up
Let’s say you’ve set up your automation, touchpoints, and workflows. Great job! But have you considered the content that’s going to be in them?
Sure, frequency is great, but you must ensure you have new news every time you reach out. When you see or speak to a client, you will want to take something to them.
Whether it's new insights, industry news, or tailored research findings, consistently offer something of worth. This positions you as a valuable resource and keeps your clients engaged and feeling heard throughout the sales cycle.
3. Highlight the cost of inaction
So, you’re pencilled in for a meeting, and you've thought about what to share with clients. You’ve laid out all the specs, defined all the features, and even run through the available tiers and plans.
But do your clients understand the cost of doing nothing?
No one likes the idea of losing, so make sure your clients understand the impact of delaying a decision. Frequency paired with emotional impact is what gets people to action. You can do this by emphasising the tangible costs. Highlight how they lose a certain amount of money for every month they don’t make a decision. Show them how much they spend on band-aid solutions or ignoring the problem — when they could have overcome it altogether.
This approach serves as a powerful motivator, compelling clients to recognise the value of making a timely purchase decision.
4. Present a strong business case
You have your automated workflows and know your product and service inside and out. But do you understand your client's needs? What issues are they trying to solve?
You need a strong business case to shorten the sales cycle. Quantify the client's problem in dollar amounts, but don’t stop there.
Highlight the pain and stress, but make sure to ask your client how it would feel to have all that removed. You'll need a reliable proposal scoping tool to get that insight and develop that case in your business proposal.
A well-crafted business case, coupled with a robust proposal scoping tool, positions you as a solution provider and significantly increases your chances of closing the deal.
Tying It Together
Here's the consensus — nobody's a fan of a sales process that feels like it's stuck in slow motion. Marketers dread it, and clients avoid it. Now, picture a world where deals flow seamlessly, sans the unnecessary drama. Quicker deals mean less stress, more victories, and a more effortless journey to success. So, why not trade the sales traffic for a smoother ride?
These tactics go beyond merely closing deals. They're crafted to enhance both your team's and your client's overall experience. The first step is embracing a Proposal Scoping Tool designed for conversion. When your scoping tool performs, so does your entire sales cycle. It's the key to unlocking a faster and more efficient journey for all involved.
Join us for How To Write Proposals that Convert Like Crazy with Ashton Bishop and discover how to build your own winning proposal and close deals like a pro!
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PS: Check out our other blog posts in this series and learn how to supercharge your sales game.