The 7 stages of selling: the commercial guide

Understanding the commercial sales process

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A sales cycle is a predetermined and defined sequence of steps followed to transform a potential prospect into a customer, from the first contact to the conclusion of the deal.

Any organization that sells something can benefit from defining its commercial exchange stages. The cycle can be short or long according to several factors specific to each structure: average basket, sector of activity, etc. For example on the Akimbo Bootcamp, the Akimbers discover the skills specific to each stage.

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The commercial sales cycle is similar to developing a relationship with a new person. During your initial meeting, you get to know each other, know what she likes, and determine her goals. Along the way, you decide if you can work together and if you are compatible. If that's the case, the relationship can continue and grow.

That said, it can be difficult to create a standardized sales cycle with well-defined steps, as salespeople may have Insights different and there can be a multitude of data to take into account and customer behaviors to integrate. In addition, a commercial sales cycle should be reviewed periodically in order to maintaining its relevance and effectiveness.

A 7-step sales cycle

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Setting up a sales process will not only improve the results of a business, but it will also help salespeople succeed individually by following specific steps. Several advantages can be noted:

• Optimizing the structure of a sales team to identify the main challenges that arise during the various stages of trade;
• Facilitate integration new potential customers;
• Help identify short and long term goals and how each stage supports the next;
• Highlight wastes of time and resources. This makes it possible to eliminate activities with a low return on investment and to focus efforts on activities with more positive returns;
• It identifies steps that need to be improved. This allows for investments in training and practice to improve areas where weaknesses are felt, which will contribute to success in other parts of the sales cycle.

Sales plan: prepare for your sales interview

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Before embarking on prospecting and making contacts with potential customers, it is necessary toestablish several preparatory steps beforehand. Indeed, these will allow you to identify the targets relevant to your sector of activity and to what you market. They are essential To properly conduct a sales interview. Concretely:

• Create an ideal customer profile (PCI) or Ideal Customer Profile (ICP)

The aim is to identify and understand your ideal customers. This helps you figure out who to contact and why to contact them as potential customers. ICP uses real data to create a fictional characterization of a customer who can bring value to a business (revenue, influence, etc.) or the other way around, the business that brings value to the customer (return on investment, savings, etc.).

• Identify potentials Leads

PCIs are useful for creating a list of potential customers who fit this profile. Using multiple sources (such as social networks such as LinkedIn) is a common practice for compiling a list of people or businesses. Then, create a list of potential buyers that a sales force can contact and qualify.

• Complete the initial qualification

First of all, to pre-qualify a potential buyer, research is done to see if the buyer meets the criteria that matter to you (size of the company, sector of activity, fundraising, etc.). Then you can determine its correct Fit of the prospect, i.e. if the latter has a need for what is marketed, the budget necessary to buy it, the authority to make the purchase decision and the time required to make it.

Having these different elements will facilitate the understanding of your interlocutor and will therefore allow you to adapt your approach and the stages of the commercial process. This is where the importance of building one according to the particularities of a business lies.

Step 1 - Getting in touch

Once you've identified the ideal buyer, try to contact them. There are two parts to this stage: The means of contact and Making contact.

First, determine the best way to contact the prospect (by phone, email, LinkedIn, etc.). Then, make sure you are prepared (script, introduction, questions,...) before contacting him. Be careful not to try to sell on the first call, the sales cycle is multi-stage and be careful not to rush. Rather, break in and build trust, not to close a sale.

In fact, the first impression plays a considerable influence on the continuation of sales exchanges. We're talking about the Halo effect. From this moment on, your interlocutor forms an opinion that will have its place throughout the exchanges.

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In addition, 80% of the result of the sale is conditioned through your verbal and non-verbal communication. This plays a key role in making contact and requires special attention in order to form a good first impression.

Step 2 - Analysis of customer needs

It is the discovery stage. Although you have already done your research to qualify the potential buyer before establishing contact, you still need to Determine if he makes an ideal customer. A simple method is to follow that of the QQOQCPC to collect relevant data, seen during training at Akimbo.

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To qualify your prospects, learn more about them. Ask questions about their goals, budget, challenges, and other points that will help you make your decision. Make sure you are in contact with someone who has the authority to make the decision to do business with you for each company. When you talk to your prospects, identify opportunities to add value to them.

Qualifying the person consists of checking if they meet the criteria of a good customer. If not, tell him why. If he's still interested, figure out why.

Step 3 - Argumentation

Once you've qualified the lead, demonstrate the relevance of your solution for him. That is the argument. This typically involves answering questions about your unique value proposition, the benefits you offer, and the problems you solve.

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When you answer the decision-maker's questions and get to know their needs, you shouldsupport throughout the decision-making process. This involves:

Make the person evolve along the stages of awareness:

• Absence of conscience : the person does not know that they have a problem.
• Awareness of the problem/awareness of pain : the person knows that they have a problem but does not know a solution.
• Awareness of the solution : the person knows that there is a solution but does not know your product.
• Product awareness : The person knows your product but doesn't know if it can solve their problem.
• Strong conscience : the person is familiar with your product but needs to know its benefits.

• Inform the prospect about the product, service or sector of activity;
• Personalize your communications;
• Respond to current problems;
• Build your reputation with the prospect as a useful, responsible and reliable person in your field of expertise.

Some prospects may be both interested in your proposal and qualified, but may not be ready to take action right now. To maintain this type of profile, stay in touch with them and show them your ability to help them: It is the role of Nurturing often taken care of by the Marketing department. That way, you'll stay in the forefront when they're ready to close.

Step 4 - Handling objections

A sales objection should not be seen as an obstacle, but it should be seen as a interest of the potential buyer. The answers to these few questions will allow your potential buyer to make a decision, which is a pretty good sign.

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To deal with objections in an optimal way, do not hesitate to ask questions or ask your interlocutor to rephrase them. This will allow you To clearly identify the blocking areas.

Here are a few examples:

• the tariff (for example, too expensive for the value provided);
• the risk (for example, it is too “dangerous” to switch to a new solution);
• The contract terms (for example, the duration of the contract is too long).

Ideally, you answered common objections during the argumentation phase or when creating the business proposal. However, you can't always respond to every objection until the prospect makes them.

To overcome or treat them, here are some Best practices :

• Be patient and measured in your response. Listen objectively to the concerns of the potential buyer. Don't rush him or push him to move forward either.

• Deal with objections that are related to each other. For example, if the prospect questions the value and price of your business proposal, review everything you've included in it to show the full value of your proposal.

• Once you've explained your reasoning, ask the person you're talking to If you answered his objection correctly.

• Read between the lines generic objections (for example, “We are not interested”).

• Ask more questions for determine the real reasons for each objection. Listen carefully to the answers before replying.

In some cases, the buyer's reluctance is motivated by fears or fears that hinder the purchase decision. Reviewing elements of the argument can be effective and reassuring, but that's not always the case. Several closing strategies exist and are taught in our Bootcamp courses.

At the end of this stage, Two exit doors are available to potential buyers : either everything is back to normal and the signature can be done, or one or more sticking points persist. In this case, we may end up in the case of a negotiation rather than a response to an objection.

Step 5 - Commercial Negotiation Phase

It is during this stage that The characteristics of your proposal will be discussed, namely the price, the risk, the contractual conditions or the specificities of your product or service.

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A commercial negotiation consists of identify common ground, where each party shows concessions or rewards.

The best known negotiation strategy is that of the BATNA methodology.”Best Alternative to a Negotiated Agreement” or MEASURE”Best alternative/fallback”.

Step 6 - Closing: conclusion of the sale

Once you've reassured the buyer, you can close the deal, that is, make the sale.

Several closing techniques exist and the challenge is to choose the one that will be the most effective. The objective is to confirm the commitment of the potential buyer and to prepare the next steps. The key is to make it easier for him to say yes to the deal. Start by reminding them how they are going to achieve a specific goal by buying your product or service. To close the deal:

• Ask a direct question or make a direct statement (for example, “Do you want to sign the contract now?”).
• Ask an indirect question (for example, “Are you happy with what's included in the offer?”)
• Offer an incentive to close the deal (for example, add a sign-up bonus).
• Offer a free trial period (for example, “Try it for a week”).
• Emphasize the urgency or rarity of the offer (for example, “This is a limited-time offer”).
• Ask the potential buyer what they need to make their decision.

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Once the prospect has committed to buying, answer any additional questions they have and give them details about what's next. Provide a written agreement and a summary of the conversation so that their manager or other stakeholders can verify the accuracy of the conversation.

If the potential buyer still answers with “not yet” or “not now” for reasons beyond your control (or theirs), send them back to the argumentation stage. Stay in touch and follow up prospects who are not ready to buy.

Step 7 - Taking time off

The main concern for a new customer, after closing the deal, is whether they made the right decision.

Each sale is a commitment and the trust that has been built up throughout the sales process must continue even after the deal is signed. The idea is to let the buyer “breathe”.

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The process of taking leave consists of reassure, thank, Accompany and Revoir the client to establish a long-term relationship and support him if questions persist.

Maintaining customer relationships

The mistake would be to think that a commercial relationship ends when a sale is made. To avoid falling in this situation, it is essential to have a customer relationship management, in the Loyalty And in optimising his portfolio or customer account (through the renewal of sales, by Upsell or Cross-sell).

The ultimate step is to maintain the customer relationship, by staying in contact with him, by performing a regular follow-up And so Increase your satisfaction.
You should know that he is 6 to 7 times less expensive To keep customers Closés than acquiring new ones, which is why it is important to take this step into consideration.

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