Sales Life Cycle - Sales Steps

Opportunities

Opportunities can come from many sources;
web leads, phone leads, referrals, cold calls, in-field upgrades, telemarketing etc.

Aim:	When an opportunity becomes available, this stage of Sales Life Cycle Management is used to create the best first impressions that you can.
Outcome:	When done correctly, the opportunity has already started developing an idea of your credibility, professionalism and knowledge so that when you move through to the next stage of the sales process, you should already have an advantage over the competition.

Example Process

Email with John Doe
Professional Profile

Call with John Doe
Initial phone call

Email with John Doe
Confirm meeting

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day 0

day 1

day 2

day 3

day 4

This may include details on:

Experience
Qualifications
Examples of current clients
A testimonial
Company Profile

This may include organising a future time to meet:

Phone
Skype
Face-to-Face

If a meeting is required:

Venue
Time

"Looking forward to meeting you"

Qualify

Qualifying opportunities is an important step in all sales processes. It is the stage where you can identify how much time, effort and resources you should spend based on your ability to provide a solution. This process may take seconds or months depending on your industry, but by managing this process well, your professionalism and questioning techniques will have put you ahead of the competition if they become a qualified opportunity (or deal).

Aim:	During this phase, Sales Life Cycle Management is used to provide as many hints, tips and questions that help assess your ability to provide a solution for the opportunity. Depending on your industry, it can also be used to promote the customers’ thinking beyond their initial enquiry.
Outcome:	When done correctly and the opportunity becomes a qualified lead, you will be best placed to guide the customer through the sales process that results in your greatest chance of success.

Example Process

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Phone with John Doe

Refer Qualification Topics

Email with John Doe
'Solution Requirements'

Email with John Doe
'Thanks for time'

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day 5

day 6

day 7

day 8

day 9

This may include prompters that helps salespeople cover all possible avenues and/or promotes a particular sales questioning process

This may be used to help an opportunity expand their thinking outside their initial enquiry into areas where you can demonstrate experience

When qualified, this may be a simple email thanking them for their time and looking forward to working with them on their solution

Sales Process

At this point, we should clarify the difference between salesmanship and sales process (refer blog). Sales Life Cycle Management is specifically about process, whereas Salesmanship refers to the questioning, uncovering, analysing and elaboration that is done in front of a customer. As a result, there is still a best-practice procedure that a business can take a customer through in order to maximise the chance of a sale. This process would include topics such as demonstrating credibility, knowledge and value in dealing specifically with you.

Aim:	To demonstrate you have the appropriate solution, at the appropriate value, with the credibility and reliability to deliver the solution. There is a variety of collateral and material that can help achieve this.
Outcome:	In the perfect scenario, you achieve the sale as close to your preferred terms as possible.

Example Process

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Dev Proposal

Recommendation

Email
'Product Reviews'

Phone

Review Status

Phone

Trial Close

Email
'Our Reliability'

Email
'Demo Invitation'

Follow-up

Make Appointment

Email
'Case Studies'

Phone

Trial Close

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day 12

day 14

day 16

day 18

day 20

During this process, customers are often assessing various solution from various vendors, looking at how to alleviate the possible risks with each, and then making their decision. Sales Life Cycle Management can help this process by keeping you top-of-mind and by providing appropriate value-added communications in a timely manner, you won’t be considered as ‘pestering’ the customer.

Transaction - Won

show lost

The Deal is WON! You have made a successful sale and have obtained the customers’ business. There maybe various paperwork requirements, introductions to other departments, solution delivery details, further information required etc.

Aim:	To make the customer feel positive about their decision and help facilitate the solution implementation/delivery in the most professional manner possible.
Outcome:	The customer is positive about their decision and is looking forward to implementing the solution. They should also become an early advocate.

Example Process

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Email with John Doe
'Thankyou'

Email with John Doe
'Delivery Confirmation'

Phone with John Doe

Implementation

Email with John Doe
'Implementation Survey'

Email with John Doe
'Referral Request'

»

week 3

week 4

week 6

This may include:

Thankyou Message
Looking forward to working together
Outline future steps

Hope to hear good news however provides the opportunity to rectify any outstanding issues

This provides a chance to gather feedback on various components of the implementation and work toward continuous improvement

When obtained, a testimonial or referral enables you to build your marketing material and “Raving Fans”

Transaction - Lost

show won

The Deal is LOST. It is still beneficial to acknowledge the result and lose gracefully, hopefully allowing a future opportunity with the same customer.

Aim:	To lose gracefully and professionally and keep the door open for any future possibilities in this account.
Outcome:	You will still be on the shopping list for future purchases the customer may make and even still have the opportunity to sell other products and services that may have been outside the scope of this particular deal.

Example Process

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Email with John Doe
'Thanks for Opportunity'

Email with John Doe
'Loss Survey'

Phone with John Doe

Did Vendor deliver on promise?

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week 3

week 4

week 6

This may include:

Thankyou Message
Looking forward to possible
future opportunities
"Good Luck"

This can provide a chance to gather feedback on various components of the sales process, perceived product & support value etc. Info received can be important for future sales strategies.

There may be circumstances where other vendors haven’t delivered on their ‘promise’ and there may be opportunity to re-engage with the customer.

Management - Won

show lost

Customers evaluate your value as a service provider in a number of ways throughout the life of the product/service you provided. If you have delivered on your promise, the customer should become a “Raving Fan” of all aspects of your business.

Through implementation of best-practice methodologies, Sales Life Cycle Management will help you maintain their business, open other sales opportunities and make it harder for competitive vendors to penetrate the account. The ultimate aim is that when the customer wants to purchase something else, they will come straight to you.

Using best-practice methodologies, Saleslifecycle.com provides the appropriately timed content and material to communicate with your clients with the aim to build value and increase customer loyalty.

Aim:	To develop the customers' loyalty and trust in your business, seek other sales opportunities with other products & services you may have to offer, and ultimately upgrade their original purchase with minimal or no influence from competitive vendors.
Outcome:	When done correctly, you will increase sales revenue from that account and when it is time to upgrade their original purchase, there should be minimal objection and competition.

Example Process

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Cross Marketing

Other products & services
Account review offers

Customers’ Perspective

Surveys
Service metrics

Anniversary Notifications

Stay in touch with
newsletters
&/or birthdays

Technology Updates

Reviews
White Papers
Industry Trends

Customer Monitoring

Surveys
Account Reviews

Productivity Improvements

Assessments
Cost reduction examinations
Possible recommendations

Upgrade Opportunities

Trade-In offers
Service extensions

New Capabilities

Demonstration offers

Due to the wide variety of material that is possible to help achieve the outcome of this stage, above refers to general topics that could be covered.
Some of these may be repeated periodically if required.

Management - Lost

show won

When a customer purchases a product or service from a competitor, there will be some time in the future when they either wish to purchase other goods and/or services or even upgrade the original item/service they purchased. The challenge is to get on the shopping list next time with as much credibility as possible. As a result, this stage is about continuing to build your perceived credibility so that when a new purchase is required, you will be on the shopping list.

Using best-practice methodologies, Sales Life Cycle Management will help you maintain contact by prompting you to deliver appropriately timed content and material in order to achieve this. It is highly likely that you may even be monitoring and managing their Life Cycle better than the incumbent vendor.

Aim:	To promote your business as a credible alternative so that when they are looking to purchase future goods and services, you will be on their shopping list.
Outcome:	When done correctly, you should receive little resistance when trying to re-enter the account or should even receive their enquiry when they are looking to purchase other goods & services you offer.

Example Process

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»

Cross Marketing

Other products & services
Account review offers

Competitive Assessment

Performance survey
Challenge service metrics

Anniversary Notifications

Stay in touch with
newsletters
&/or birthdays

Technology Updates

Reviews
White Papers
Industry Trends

Productivity Improvements

Assessments
Cost reduction examinations
Possible recommendations

Upgrade Opportunities

Trade-In offers
Service extensions

New Capabilities

Demonstration offers

Due to the wide variety of material that is possible to help achieve the outcome of this stage, above refers to general topics that could be covered.
Some of these may be repeated periodically if required.

Upgrade

Many products and services, or even contracts have a predictable timeframe. Whether a current client or competitive account, the challenge is to upgrade them prior to the completion of their term and hopefully before it has become a competitive situation.

Using best-practice methodologies, Sales Life Cycle Management will help you challenge their current state and promote possible benefits in upgrading to newer technology. If achieved, this becomes a new Sales Opportunity and you begin the qualification process.

Aim:	To get the customer to agree they should be looking to upgrade their current product/service to a newer technology or process before other vendors are aware.
Outcome:	When done correctly, you should be in the qualification, sales process or even with a new sale before it has become a competitive situation.

Example Process

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Current State

Offer Assessments
& Evaluations

Upgrade Opportunity

Buy-backs & Buy-outs
Trade-In offers

Current Technology

ROI benefits
Cost Reduction opportunities
Efficiency & Productivity opportunities

New Capabilities

Demonstration Offers

Due to the wide variety of material that is possible to help achieve the outcome of this stage, above refers to general topics that could be covered.
Some of these may be repeated periodically if required.

Sales Life Cycle Management

1. Opportunity

2. Qualify

3. Sales Process

4. Transaction

5. Management

6. Upgrade

Opportunities

Aim:

Outcome:

Example Process

Qualify

Aim:

Outcome:

Example Process

Sales Process

Aim:

Outcome:

Example Process

Transaction - Won

Aim:

Outcome:

Example Process

Transaction - Lost

Aim:

Outcome:

Example Process

Management - Won

Aim:

Outcome:

Example Process

Management - Lost

Aim:

Outcome:

Example Process

Upgrade

Aim:

Outcome:

Example Process