2.01 Understand sales activities and show command of their nature and scope Performance Indicator: Explain the impact of sales cycles

Definition Sales cycle - The course of time between the initial contact being made with a customer, the identification of services or goods to be procured, the acceptance of the intended purchase, and the transaction that completes the sale.

Factors that affect the length of sales cycles See smallb3.html smallb3.html See – Ss&feature=related Ss&feature=related – – – See sales-cycle-affects-sales-strategy-part-4-of-5/ sales-cycle-affects-sales-strategy-part-4-of-5/

Short sales cycles Advantages Customer takes fewer steps before deciding to purchase Example: selling clothing Disadvantages Fast-paced travel Frequent presentations

Long sales cycles Advantages Marketing is targeted, short, and to the point Customers have no issues with purchasing Disadvantages Customer takes more steps before purchasing More complex contacts to keep organized More paperwork & correspondence Time management is key Example: selling a company

Actions salespeople can take to shorten the sales cycle Use testimonials Use case studies Use examples of the work you’ve done

Actions salespeople take that lengthen the sales cycle Identify key points and sell to those Prospecting – Selling = getting an appointment to discuss – Get the small wins to ensure a BIGGER win later on Be informative and detail-driven Ensure ease of potential clients ability to obtain information