How to close sales and what makes buyers buy? This is a common question many startups or smaller companies usually ask while trying to sell their product or services. It’s a long process and the seller should think from the perspective of buyer rather than their own selling process. Here we discuss the major steps involved from finding the right buyer to closing the deal.
The First step in a buyer’s journey is to identify the Right Buyer of your product or service.
BUILD THE BUYER PROFILE
You need to know who your buyers are or whom you are targeting to sell your products or services. To increase your sales, you also need to know what motivates your buyers in their purchase decision. Usually people buy something on emotions. Though they buy on emotion, they justify it with statistics and logic. Keep in mind, you are selling to real people, with feelings and emotions and impulses. Appeal to those and they will be more successful and close more deals.
Once you identified your real buyer, find out what your buyer care about.
DETERMINE YOUR BUYERS CONCERNS
The common mistake many companies does while selling their product is, immediately they go into their pitch, describing the whole myriad of their features. But this can adversely affect the selling process as the buyer will think, let me look someone specific to solve one or two issues that I have. So when you fix a meeting with your prospect, start asking questions right away. You ask enough questions, get them talking long enough, they’ll tell you how to sell to them.
CUSTOMISE YOUR PITCH
Once you identified their problem and requirement you can pitch and customise what is important to them. Be intuitive about the buyer behaviour. Give efficient context and support to convince the prospect how your service can be the best to them. A confident and savy attitude puts people at ease.
Next step is to focus on how they want to engage and buy.
You need to find out how the buyers want to be engaged. Once it is identified, you can choose the right distribution channel. (online, offline, mobile, social media etc)
If you are dealing with large corporate, important step to keep in mind is to identify who all involved in the purchase decision
FIND OUT THE DECISION MAKERS
In a corporate sale, ask that question upfront when you meet the buyer for the first time. Not only ask if they have budget, but who’s involved in the purchase decision, so you can start cultivating the other people that are going to be involved early on. If you can do that successfully, you can reduce your sales cycle, and close more sales.
ANOTHER THING, SMALL BUSINESS OWNERS SHOULD KEEP IN MIND WHILE INITIATING A SALES PROCESS IS TO GET YOUR MINIMUM VIABLE PRODUCT OUT THERE AND COLLECT SOME PRECIOUS CUSTOMER FEEDBACK!
It is a wrong idea to over design the product, and it may take long time to get into the market.
If you’re dealing with corporations, pick your first 10 customers to go after. Don’t start marketing worldwide right away. Choose 10 customers, go after them, start getting some feedback, and start getting some traction, because nobody likes to be first, and you should get your reference accounts.
SELL TO PEOPLE NOT TO COMPANIES!
Insight Consultants (Stylus Systems) is an Information Technology / Service Company offering solutions to clients by delivering it ethically. We engage our clients through Radical Rooting Technology. Radical Rooting is a 4-step process that enable us to approach a client’s business in a methodical manner that eventually gives both, us and the client a clear view of what is required, what needs to be done and how it can be measured for success. Contact Us to see how we can help maximise value from your technology investments.