The Sales Business Cycle - Part 2 by:Daryl Cowie
In part 1 we talked about the importance of getting leads to a successful sales cycle
. But a lead that never reaches a decision to buy is ultimately just a liability. It's not enough to find a lot of interested people. At some point you need to get those people to decide to purchase something from you if you want to stay in business.
Conversion - Convincing People We Have What They Need
Conversion is the process of getting the customer, or lead, to a state of mind where they have decided they are going to get what you are offering. Let's be very clear on this because it's important. It is not the process of actually getting the customer to buy. It is the process of getting them to decide in their minds that they are going to buy; to get them to say "okay let's do it" in their minds and begin to picture themselves already owning it rather than continuing to debate with themselves about whether or not they really want it.
We are going to consider two critical aspects of conversion:
1. identifying the best solution for the customer, and
2. the fact that people buy from people
Remember that business is about helping ourselves by helping others. The best sales person (or conversion expert) is someone who is always genuinely trying to get the best for their customers. They do this by taking the time to understand what their customers want and then helping them identify ways to meet their needs and wants. As with all problem solving it is important to understand the question before offering solutions. Conversion through identifying the best solution for the customer follows these steps:
1. Identify the Initial Want or Need
2. Identify the Customer Motivation (refer back to the section on Why People Buy)
3. Isolate the Key Requirements
4. Offer Solutions (Focus on the Key Requirements and Customer Motivation)
5. Discuss the Benefits (Focus on the Key Requirements and Customer Motivation)
6. Overcome the Objections (Focus on the Key Requirements and Customer Motivation)
7. Reach a Commitment to Buy
Conversion is the process of getting through all these stages. It may happen in few minutes or over several months depending on the nature of the sale.
People buy from People. There are many sales courses out there that focus on the "Identify the problem, offer the solution" approach to sales. They cover the items listed above in one way or another and give valuable instruction on how to progress through each stage. People take these courses and get a lot out of them, but they are often still missing a crucial piece of the puzzle. People buy from people.
Remember the last time you went to the mall looking for something? You browsed through three stores. In one store the sales person was more interested in going on their break than helping you. In another you got no help at all. In the last store you were greeted with a smile and "Hi, what brings you in today?" Who did you buy from? The company you liked the best? The store with the best products based on your personal research? No, you bought from the nice person. We all do it. Unless there is some other very compelling differentiator we buy from the people that we like. This is true in consumer and business to business transactions.
In the people-buy-from-people school of sales conversion there are three steps:
1. Sell yourself
2. Sell your company
3. Sell your product or service
Establishing a personal relationship whether it is just learning a name, or spending months getting to know someone, is the first step to creating successful long-term sales relationships. If people don't like you it usually doesn't matter about your product or your company. If they don't trust the company, they won't believe what you tell them about the product or service. Sell yourself, sell your company, and then sell your product or service.
The most effective sales people use these two approaches together to convince you to reach a decision to buy something you want, from someone you like and trust.
About the author
Daryl Cowie has shared management tips with 1000s of people in over 30 countries around the world. His mission is to help you and your company turn business opportunities into business realities. Sign up for his free business management home study course at
http://FreeManagementTips.comhttp://www.articlecity.com/articles/business_and_finance/article_9622.shtml
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