Sales:
It's all in the Timing
Recently one of my coaching clients was sharing
her frustration with contacting potential
clients in an industry new to her.
She
knew they'd have a need for what she offered.
And, she'd done enough work in the industry
to know she was a good fit. And, their season
was fast approaching.
With
enthusiasm, she started making calls to
her prospect list. Each of the people she
spoke with was pleased to hear from her.
But, they all had the same response when
she asked for the sale.
"We've
already scheduled someone else months ago.
Call us again for next year."
The
responses were good news and bad news.
First
the good news: in one call she'd introduced
herself and found lots of prospects who
were excited about using her services. And,
they wanted to hear from her again.
Now
for the bad news: she'd missed the buying
time in the sales cycle.
When
we talk about sales cycle, we mean that
time from when we first contact a prospect
until the sale is finalized. For some products
and services, it may take upwards of eight
to ten months. Others can be sold within
days or weeks.
Whatever
the cycle is, you need to know how long
it is. And, you need to keep your selling
activities moving your prospect towards
buying during the cycle.
This
client knew that, and knew it would take
more than one phone call to close the amount
of business she wanted.
She
didn't realize she was off pace with the
buying cycle.
Buying
cycles happen when a prospect has a targeted
date by which the products or services must
be ordered, scheduled for delivery and payment.
Like
a selling cycle, the prospect needs time
to gather possible products or service providers,
choose which will best fit their needs,
and negotiate the sale.
All
by their target date.
Unfortunately,
my client got a late start. She was approaching
new prospects just before they needed her.
Too late in their buying cycle.
The
best time to approach a prospect? At the
beginning of their buying cycle.
How
do you know when that is?
Look
at the activity pattern of your prospects.
For
convention speaking, about a month after
the convention. For consulting...avoid suggesting
major projects that involve lots of employees
during the late summer or holiday time.
(Employees take vacations then.) Avoid offering
training to canning plants during harvest,
accountants during tax time.
Otherwise,
your 8 month selling cycle can stretch to
14 months.
A
good lesson to learn from OPE.
Reprinting and
Reposting
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