What to Do About Longer Sales Cycles

By Ingage. 

Buyers are becoming more uncertain, slowing down the sales process. How can salespeople overcome this? 

There are many potential factors that disrupt the sales process. Customers have differing biases, personalities, resources and capacities. Depending on customers’ brand loyalty, the sales cycle could easily be interrupted. External factors even play a role in slowing down the sales cycle, like a country experiencing economic downturn.  

In modern times, salespeople are noticing that sales are taking longer to land. This means that companies are losing money. However, recognizing what causes these disruptions will help salespeople brainstorm new tactics. Listed below are some reasons why customers hesitate and methods you can take to speed up your sales process. 

Key disruptors of the sales cycle 

Experts have pinpointed buyers’ indecisiveness as the root cause of halted sales cycles. Here are the main reasons buyers are taking longer to purchase. 

1 - Buyers are afraid of making the wrong decision. 

Being informed is crucial, especially when it comes to spending your hard-earned cash on products and services. Knowing more about your potential purchase helps you decide whether its benefits outweigh its cost. Understandably, buyers are hesitant to pull the trigger on a product that may prove to be a waste of money, so they’re taking longer to properly mull over their investments. 

2 - Budgets are tight. 

Many people felt the effects of the pandemic financially as well. It’s no secret that households, industries and even entire economies suffered at the hands of sporadic, indefinite lockdowns. Many companies had to perform budget cuts as well as take stock of their resources. While recovery is well underway for many, funds are still being distributed with great caution. 

3 - Too many decision-makers are involved. 

Business expenditures being more closely scrutinized means more people are now involved in the decision-making process. These pitstops are drawing out the decision-making process longer than usual. Buyers can no longer purchase on the spot because they need to get the go-ahead from their company leaders. 

4 - Salespeople are finding it hard to focus. 

Salespeople are struggling to focus because they now must balance several potential customers at once. Budget constraints often result in salespeople handling more clients than they can manage. This lengthens the sales process on the company’s end. Spreading your sales force too thin will result in them struggling to build meaningful relationships and close deals. 

5 - Buyers spend too much time talking to several sellers. 

It’s good practice to consider all available options. And this is exactly what consumers have been doing. Many buyers often look around to find the best deals for what they need, which usually entails talking to different sellers. This is great for them, but not so great for you. That’s because buyers exploring their options halts the buying process, delaying dollars from reaching your pocket. 

When it comes to getting customers to trust you, you need to get them on the same page as your sales representatives. The deeper the trust they have in your brand, the more likely they are to be driven to purchase. Using an engaging presentation tool like Ingage highlights the value you bring to the table by building credibility. 

What salespeople can do 

Fortunately, a prepared salesforce can help clear the pipeline and move your sales cycles forward. When it comes to customers, it’s all about building relationships and providing value. Here are a few things your sales representatives can do to secure customers. 

1 - Know your prospective buyers in-depth. 

It helps to know what makes your target customers tick. To do this, you need to conduct market research to understand how your strategies are resonating with prospective buyers. Get familiar with your prospect's pain points and show them how you can alleviate them. 

2 - Know your product by heart. 

The best way to sell your product is by knowing it like the back of your hand. Prospective customers are bound to have questions before making a purchase. Being able to thoroughly answer their questions sparks confidence and builds trust. Trust propels the sales cycle forward. 

3 - Re-organize your strategy. 

Sometimes, your internal strategy needs to be revamped to fit your business goals. You need to identify bottlenecks within your sales cycle and develop solutions to correct them. By reorganizing and restructuring your sales cycle, you can forge one to better serve your target audience. A more fine-tuned sales cycle means more money in your pocket. 

4 - Perfect your sales pitch. 

Your sales pitch is everything. You need to persuade prospective customers to purchase your product. This can be done using research and a stellar sales presentation. You can shorten the sales cycle by creating an engaging sales presentation that provides your target audiences with everything they need to make an informed purchasing decision. Working with tools like Ingage can help you present data in an easy-to-digest format.

Reel them in with a powerful presentation

You can shorten your sales cycle and capture your prospects’ interest through a compelling sales pitch that’s empowered by an engaging presentation. With Ingage, you can scan a wide variety of presentation templates to find one that’ll best resonate with your target audience. 

With intuitive, user-friendly tools and interactive features, Ingage can help you build deeper connections with your customers. Get a demo today to see how you can leverage Ingage and elevate your business.

Learn more about Ingage in their RoofersCoffeeShop® Directory or visit ingage.io.

Original article source: Ingage