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The Modern B2B Sales Process

The 8-Step Sales Process that Leads to Higher Productivity, Sales, and Customer Satisfaction

AI-enhanced sales tools prioritize leads based on where contacts are in their sales journey, but they go a step further than just handing out lists of calls. AI can tell you what part of the day is the best time to reach out to each person as well as which channel will find them fastest. Another major time drain is pitching the wrong product or service. AI can uncover which product is most likely to work for each account. Now we arrive at that point when everything either comes together or falls apart: the actual sales conversation.

Using conversation analytics, AI has enabled reps to fine-tune their approach in the following ways:. In this application, AI can examine the outcomes for every single rep in the company and find out what approaches are the most effective. This is great when it comes time for coaching and training sessions. Prior to joining Eight Roads in , Mr.

Dugar held positions with with The Carlyle Group where he was a senior member of the Asia buy-out group and was co-founder of WestBridge Capital Partners. Earlier in his career he held positions at Booz Allen and Goldman Sachs. Amandeep is Vice President of Operations at Absolutdata, where he leads the global services delivery and business consulting teams.

A seasoned leader with over 16 years of experience, his areas of expertise encompass marketing and risk analytics, loyalty program design and management, CRM, customer management, supply chain management, and campaign management. With a focus on a performance-driven lead generation and sales execution model, he leads our best of class sales organization. As a startup veteran with both operating and investor experience, George has been an active investor in seed-stage and round A startups, with three IPOs and two exits.

Sandra is Vice President of Marketing at Absolutdata. Instead, learn more about the lead, especially by asking useful questions. Here's where the guidelines in the previous topic Understanding Types of Clients and How to Engage Them are especially useful because you'll need to really understand more about the lead in order to discern if they are a prospect, if they are likely to buy from you.

Understanding the Modern B2B Sales Process - SnapApp

What are the Secrets of Question Based Selling? Also consider Skills in Questioning. Often, the person you first contact is not the person who ultimately will decide whether to buy from you. So even if the first person really likes your product or service, it's as important that you influence the real decision maker. Many times, that person is a very busy upper manager who does not want to be bothered by someone trying to sell something to him or her. Effective follow-up shows you are thorough in your work and are sincerely committed to working with the prospect.

Also, your follow-up often reminds the prospect of your initial contact-- a contact that they might have forgotten in their busy work lives.

The Perfect 3-Step Sales Process

Also consider Presenting. Also consider Power and Influence. If you have been successful in prospecting the lead and the prospect indeed is interested in your product or service, then you might be asked to provide a proposal that provides more information about your organization, its products and services, and how you would work with the potential client. The client also might be asking several vendors to provide proposals, so that the client can have more choices from which to choose.

Often, your proposal or sales letter is the first time that the client really absorbs the details of the opportunity that you're bring to him or her.

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It's not uncommon that the client wants to modify certain terms or pricing. Thus, it's useful for you to have at least some basic skills in negotiating. Also consider Conflicts Interpersonal Negotiating.

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The closing process is getting the commitment of the prospect to buy your product or service. The close is when the client has committed. It represents the close, or ending, of the sale process. However, many would assert that the sales process really doesn't end there, rather the sales process continues to ensure a strong, successful relationship with the client even after a contrast has been signed. Also consider Business Contracts.

Account Options

Also consider Management. One of the main responsibilities in this phase of the sales process is responding to the needs and questions from customers. This phase also is where you can learn a lot about how well your product or service is meeting the needs of customers, and about any changes that you might want to make to those products and services.

The following link is to many other links about customer service. Customer Service. The ultimate goals of a sales process should be customer satisfaction. Without that, the revenue won't follow.

Sections in This Topic Include

The necessary learning won't follow about how to continue to improve products and services, about how to innovate to produce new products and services. The following link is to many other links about customer satisfaction. There are plenty of frameworks available to help you understand whether or not a lead is likely to buy.

Once a prospect has been qualified, then go back and do more research about their company so you can tailor your pitch. Setting up a product demo gives you the chance to show off your solution.

Sales Training

Even after you deliver a killer sales pitch, your prospect will likely have a few things they need cleared up before committing to a purchase. At this step of the sales process, you should try to identify and address any concerns that arise after the demo. Reiterate the cost of not purchasing your product i. But first, you must create a proposal, negotiate the details, and get buy-in from decision-makers on both sides. Only then can you move on to signing the deal and officially landing your newest customer.

This creates a sense of continuity and builds on their already-developed relationship. Onboarding can include delivering the product, getting the client set up with your solution, and providing any necessary support. Shift your focus to finding out what it will take to keep your customer happy and for them to stay on as a long-term client. The final and often-overlooked stage is following up. One of the biggest mistakes salespeople make is not following up enough. This is true not only in closing sales the average deal takes five follow-ups to close!

Nurturing a new customer involves supporting them after the sale, answering questions, and keeping them happy with their purchase.

Stay in contact, maintain open lines of communication, and look for opportunities to upsell or cross-sell certain solutions. After the product is delivered or the customer has been using it for a while, follow-up to find out if they are still satisfied with their experience. This is also the perfect opportunity to ask for referrals.