As a business coach I am often asked, “How can I increase sales?”
I am always surprised to find out most small businesses don’t have a full understanding of their sales cycle or sales process. They merely think of it as just the way they do things.
The best way a company can increase their sales is to fully understand and write down your entire sales process. Without understanding all the steps that go into making a sale you will just be shooting darts in the dark.
So the first step is to write down each step in the sales process. Right from your initial contact point to the money being transferred to you. This process can be long or short depending on the type of sale it is.
For larger ticket items you will usually have a longer sales process. (although that’s not always the case) As a general rule of thumb I always tell people the more expensive your product or service the longer your sales cycle will likely be.
Increase sales by understanding each step
By understanding and writing down each step you can do two things. First you can start to track your sales and the progress that is made for each prospect. Second you can start to see and understand where sales break down or fall off completely. This is key.
More than likely, most of the people you have doing sales for you are very good in a few areas but may lack in others. So to give them the best chance at increasing sales you need to first understand what parts of the sale you are good at and what parts you struggle with.
A typical example I see often is sales people who are great at making new connections and initially demonstrating value but are poor at closing or asking for the sale. Once you know that is the case then you can begin working on closing. Each person will have different strengths and weaknesses, your job is to find out what they are and help them work on the weakness while highlighting the strengths.
Here are a few links to sites that I have used in the past to understand my sales cycle and identify where I need work:
Pipedrive (one of my favourites)
Steady sales (not a favourite but it has worked for a number of clients)
If you need any further work on this please do reach out. The sales cycle can be so different from company to company that you may need some one on one attention.