The Importance of Knowing Your Sales Cycle | Selling Skills Training

Many products and services have different sales cycles, from the first prospect meeting to the close of the sale. Some cycles can be several months to a few years. Some can be just a few days or a few hours.

Many salespeople believe that they are not in control of the sales cycle. They put the buying control into the hands of the prospect. Keep in mind that people buy when they are ready to buy, not when you need to sell.

First of all, remember that you do not change the prospect’s buying needs, timetable, readiness, or urgency. You discover them. If your prospect has just signed a three-year contract with a competitor, guess what? This is not a prospect for you until he begins to consider renewing or changing suppliers.

Most sales cycles are not etched in stone. They are a function of your ability to get to the real issues, needs, pain, and problems of your prospect. If you fail to identify these accurately, you will most likely never create the sense of urgency necessary to close sales sooner rather than later.

Don’t get yourself into a mental rut that insists your sales cycle always has to be eight weeks, or six months, or seven days, or whatever. I’ll bet those of you who believe that your normal buying cycle is, let’s say, six months have closed sales in less time than that as well as more. The point is that the cycle is not a predetermined period of time. It is a function of your ability to identify critical prospect issues and then show the prospect how you can satisfy in a way that is acceptable.

Turn It Around

Create a sense of buying urgency to control sales cycles.