- Sales & Marketing
Every entrepreneur or brand is constantly in a bid to increase the sales of their products. If you are creating a product keeping in mind the needs, tastes, and preferences of your target audience, you want to ensure that your sales are sky-soaring. But take a minute to think whether making a sale is as easy as it sounds. Your answer will certainly be no. The journey of identifying a prospective customer to sell your product to the point of making it available to the client is huge. So let us break this entire process into seven steps that mark various stages of sales. Take a quick read.
Walking through the sales journey in seven stages
Below are the seven stages in the process of making a sale. While some of them may overlap one another, it is easier to understand each stage individually. Take a look.
You don’t just go about creating a product directly without any research. Prospecting is a stage where you need to identify the potential customers or your target audience. You should try to assess their needs and preferences and whether the product you are thinking of launching caters to their expectations. The utility of the product and its affordability will play a major role in deciding whether the product is really going to be a success.
Once you are somewhat convinced and sure of your product, you want to prepare yourself before you present it to your client. Develop your plan and specify your product details. Mention all the product descriptions, prices, and other factors in your plan. Do thorough research before you finalize your product.
This is the first point of getting in touch with your customer. It can be a meeting in person or a phone call. Often, companies adopt persuasive campaigns to convince clients to try their products. For example, you can offer free samples or gifts to prompt your client to buy your product.
This is the stage where you give a complete demonstration of your product in front of your client. By now, you are aware of your client’s needs and expectations. You should be able to convince him/her about how the product serves his/her various requirements. It could be a PowerPoint presentation or a live hands-on demonstration about the use of the product.
5. Handling objections
After your client has seen how your product functions, it is no doubt that he/she will ask you different questions expecting you to answer them without hesitation. You have to be prepared to answer such questions with confidence. The key to handling objections successfully is doing extensive research about the product.
You have come a long way and your client finally wants to close a deal with you. This is the stage where your negotiation skills will be of importance. Ask the client whether he/she will pay the lump sum amount or will go for installment payments. Make sure that the party understands all the terms of the sale contract.
Don’t think that once you have signed a deal with a party, the process is over. You constantly need to follow up with your client in case he/she wants to make a repeat purchase. Ask the client about any improvements he/she would like in your product.
In the end
We have divided the process of sales into seven different pieces for you to understand the subject better. This is something every salesperson should be aware of. So incorporate these steps the next time you try to make a sale.