- Blog post
The Selling Essentials Minute, Ep. 30: Shorter Sales Cycles: The List
Welcome to the new episode of the Selling Essentials Minute!
For those unfamiliar, The Selling Essentials Minute is a series of videos that offers one sales idea in about sixty seconds. You can use the Minute to kick off a sales meeting, push an idea out to your team, start a discussion or reinforce your training.
On today’s episode: Every sales pro knows that the less time it takes to close a deal, the sooner you can move on to the next one. So how can you close deals more quickly? Watch and find out.
In sales, time is money, the less time it takes to close the deal, the sooner you get paid, the sooner you can move to the next deal and the sooner you can make even more money.
So, how can you close deals more quickly? Well, you don’t need a sword, you don’t need a club, and you don’t need a cannon. What you need is the list. Why? Well, the number one reason sales cycle drag out, isn’t because of the buyer, it’s because sales people aren’t armed with enough information to keep the sale moving.
In fact, research suggests in about 80% of cases where buyers make a purchase decision, at least one critical information is missing, which is enough to bring your cycle to a screeching halt.
Which is where the list comes in. You know how you go to the store and forget one thing and then have to go all the way back and get it and how much time that takes. The solution is simple, make a list before you go.
The same as customers, when you with them, you’re shopping for information. Before you meet, make a list of everything you need to learn to move the sale to the next step. Not just the big stuff like, who has to sign off on the deal, but also little details like, who creates the purchase order. That way you keep the sales cycle rolling along, no surprises, no “I have to get back to you”, no “Gee, I forgot about that”.
Does it take discipline? Sure, but it’s worth it, because you’ll get your sale and your money sooner. Besides, it’s better to make that list than to explain to your boss why you missed.