A sale is a process that takes one closer to the next step until you cross the line marked red. And that is when you complete a sale. Until then it is a dance between the prospect and the Sales Professional. So what are the steps involved in making the final sale? How does Sales Professional figure when to move on to the next step? Here we give you some commonly required steps that would ensure that you get a reasonably good chance of making the final sale.
Qualify your prospects
In sales, it is essential to moderate the customers because it can save you an enormous amount of time. Qualifying the prospects is best explained using the acronym ADD where A stands for Affordability, the first D stands for Desire, and the second D stands for Decision-maker. Regarding affordability, the question we need to ask is can this prospect afford our product. Secondly, does this prospect have enough desire and be motivated to buy our product. And finally, are we talking to the decision-maker or does somebody else make the decisions for the candidate on their behalf in which case we need to ensure that the concerned decision-maker attends the sales meeting.
Entice through convincing
Once you have recognized the decision-maker and had an opportunity to lay down the basics, it is time to entice them with perks. These perks would make their decision-making that much easier. They are a free offering to go along with the final sale that is complementary to the product, absolutely easy payment terms, and a test sampling of the product. It may look like hand-holding the prospects, but that is precisely the objective. The onus is on the Professionals to convince them enough to make the sale.
Commitment in Action
Having made the prospects sample the product, the next thing to do is get them to take some action. The act serves as psychological commitment and is a clear indication that they are willing to possess the product. Willingness to own the product helps accelerate the sales process to a great extent. Without writing down the desire to own the product, it is just a dream. When they have put it in black and white, in this case filling out and signing a form, it triggers off a chain of events that make the dream come to fruition.
Follow-up for payments
Payments are a crucial part of sales. People have a tendency to delay payments. Sales have a role to play in pushing the prospects to make payments as fast as possible. One way is to ask them to make a partial deposit to secure the booking. The other way is to make it easy for them to make the payments. Payment follow-up is like conveying a message. And for a message sent to be effective, it has to be transmitted at least three times in different formats – Conversation, Email, and Reminder.
Eliminate buyers remorse
The sale is not complete until the refund period expires. After the sale, there is a certain grace period within which time the customer is entitled to claim for a refund. It is because once the product is in the hands of the client, buyers’ remorse kicks in and they start doubting as to whether the purchase was necessary or not. Sales people should try and understand the reason behind the guilt and try to alleviate it. Invite them for cocktails, having a conversation or simply asking for referrals can do the trick.