Different Sales Processes Stages for Closing More Deals
Cecily Giancaterino
May 22, 2023
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10 min read
Sales
Over 627,000 new businesses open every single year in the United States, according to the Small Business Administration. Unfortunately, many of these enterprises struggle to sell their products and services in the first few months. When customers eventually express interest in the business, salespeople might not fully understand sales processes to successfully close deals. Problems like these might explain why 20 percent of new businesses fail in their first two years.
Understanding different stages of the sales process can help your sellers close more deals. It's that simple. Telemarketing agents in your call center can visualize customer workflows, engage with leads and prospects, and then communicate with these potential customers over the phone. This guide will help sales managers navigate the basic sales process stages, allowing agents to move potential customers through their outbound marketing funnels.
Key Takeaways:
- Online and offline lead generation strategies serve different purposes and can complement each other for a well-rounded approach.
- Online lead generation utilizes digital channels like websites, social media, and email marketing to attract and capture leads.
- Offline lead generation involves traditional methods such as print advertising, trade shows, and direct mail to reach potential customers.
- Both online and offline strategies have their advantages and effectiveness depending on the target audience and industry.
- Combining online and offline lead generation tactics can create a more comprehensive and integrated marketing approach.
- Measurement and tracking are crucial for evaluating the success of lead generation efforts, both online and offline.
- CRM systems play a significant role in managing leads, tracking interactions, and nurturing relationships for effective lead generation.
- Prioritizing lead generation strategies should be based on your specific business needs, target audience, budget, and marketing objectives.
Uninterested Lead Stage
These leads are potential customers that agents that haven't shown any interest in your products and services—yet. Uninterested leads might be interested in doing business in the future but haven't reached out to you. Perhaps these leads are in the research stage and reviewing other products and services similar to yours. Or maybe these leads don't know what they want from your business at this moment in time.
Some telemarketers are reluctant to incorporate uninterested leads into their sales cycle. That's because leads who have already expressed an interest in your company's products and services are far more lucrative. However, nurturing uninterested leads could result in new customers for your business. You won't know until your business makes contact with them.
Here are some ways to make the first move with uninterested leads:
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Send an email to leads about what products and services you offer and what pain points you solve.
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Follow up an email with a phone call from one of your agents to establish a connection with an uninterested lead.
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Use social media platforms like LinkedIn to research B2B leads before contacting them over the phone. This way, you can go into a conversation knowing basic information about these potential customers and what they might require from you.
Interested Lead Stage
Interested leads are the opposite of uninterested ones. These potential clients and customers have shown interest in your products and services by contacting your business and asking questions about your offerings.
Some agents might want to close a sale immediately after communicating with interested leads, but this approach isn't always successful. That's because these leads still need to move through your sales funnels in order to increase the chances of successful conversion. Agents should convey all preliminary information about your products and services and establish a relationship with the potential customer before that customer signs on the dotted line.
Sales experts should also use proper call etiquette when dealing with uninterested leads. When communicating with a lead out of the blue, reps should ask if the potential customer has time to talk and arrange a follow-up call for the end of the day if it's a bad time for a conversation.
Active Inquiry Stage
An active inquiry happens when a potential customer considers purchasing your product, signing up for a service, or taking another action. Sales reps should address any specific concerns these potential customers have, listen to a prospect's objections, explain the benefits of working with your business, outline product features and get customers to agree to a quote.
Salespeople should never be pushy during the active inquiry stage. (Customers hate it!) The person on the other end of the phone might be receiving sales calls from other companies, and agents that engage in the 'hard close' might lose out on a lucrative deal. Reps can create a sense of urgency around a product or service but should be genuine during outbound calls and learn more about the customer's specific needs.
Quote Stage
Sales professionals should give potential customers an honest quote for your product or service. These customers need to know how much your offering will cost them, so build trust by explaining all charges and add-ons. However, it's important to note that a quote is just an estimate. If the scope of a project changes, you don't have to stick to the price you told a customer. Explain why you need to change the price of a product or service over the phone.
Invoicing Stage
After a lead has agreed to a quote, your company will need to produce a detailed invoice (depending on how your payment terms work). Include all the information a customer needs to make timely payment and any trading terms that the customer needs to agree to.
Payment Received Stage
At this stage, ensure the customer has made payment and send them a confirmation of the transaction. You can help any client struggling to send a payment by providing alternative methods.
Delivery Stage
Once the 'payment received' stage has finished, you can prepare and deliver your product or service. However, that doesn't mean the formalities are over. Post-sales communication is critical for businesses in all sectors and can increase the chances of customers using your company in the future. Follow-up calls from agents at regular intervals can strengthen the relationship between a customer and your business.
You can also ask customers to leave a review or testimonial online about your product or service. Positive internet customer feedback can increase brand awareness and result in more leads.
Evaluate Your Sales Process
Regularly review the stages of your sales process and learn what touchpoints, sales techniques, and technologies prove most effective for lead generation, conversion, and closing sales. Visualizing your sales flow lets you learn how every sale should proceed and how potential customers move through your funnels. Evaluating your sales process also gives your sales teams a solid foundation for communicating with leads over the phone.
Conclusion
FiveCRM is a CRM for telemarketing businesses that tracks leads at every stage of your sales process. You can gather information about potential customers from the uninterested lead stage to the final delivery stage and learn more about the people who engage with your business. This all-in-one platform can also improve sales processes by allowing agents to learn more about leads' interests, hobbies, pain points, and purchasing decisions.
FiveCRM has analytical tools that generate real-time insights about potential customers, helping agents close more deals. Integrated email marketing features allow these agents to identify and nurture leads for more successful outbound marketing outcomes.
Suitable for both B2C and B2B sales, here are some FiveCRM use cases that also improve sales processes and deal-closing:
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FiveCRM automates and manages workflows, callbacks, follow-ups, and automated dialing sets in your call center. Using this platform can reduce call transition times and boost sales prospecting and efficiency.
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Manage up to 999 databases and benefit from unlimited storage. That helps you grow and scale your new business when using sales closing techniques.
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Specialized performance and marketing tools optimize lead generation by tracking operational performance in your organization and capturing high-value leads.
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Customizable lead scoring tools allow agents to improve lead generation and lead management by nurturing high-value leads in the sales cycle.
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Generate and monitor department performance data and encourage growth with key metrics for more effective sales.
Contact hello@fivecrm.com for a demo, or get FiveCRM now.
FAQs
Q: What is the difference between online and offline lead generation?
A: Online lead generation refers to the process of attracting and capturing leads through digital channels, such as websites, social media, email marketing, and online advertising. Offline lead generation, on the other hand, involves traditional methods like print advertising, direct mail, trade shows, and cold calling.
Q: Which is more effective, online or offline lead generation?
A: The effectiveness of lead generation methods depends on various factors, including the target audience, industry, and specific marketing goals. Both online and offline strategies have their advantages and can be effective when used strategically. It's important to evaluate your target market and choose the most suitable approach or a combination of both.
Q: What online lead generation tactics can I use?
A: Online lead generation tactics include search engine optimization (SEO), content marketing, social media marketing, paid online advertising (such as PPC), email marketing, lead magnets (e-books, webinars), and landing page optimization. These tactics help drive traffic, engage prospects, and convert them into leads.
Q: What are some offline lead generation methods?
A: Offline lead generation methods include attending trade shows and events, hosting workshops or seminars, direct mail campaigns, print advertisements in newspapers or magazines, television or radio advertising, and cold calling. These methods focus on reaching prospects through non-digital channels.
Q: Can online and offline lead generation strategies be combined?
A: Yes, combining online and offline lead generation strategies can be a powerful approach. For example, using online advertising to drive traffic to a trade show booth, or including QR codes on print materials that lead to an online lead capture form. The key is to create a seamless and integrated experience for prospects.
Q: How can I measure the success of online and offline lead generation?
A: Online lead generation can be measured using website analytics, conversion tracking, email open and click rates, social media engagement, and lead-to-customer conversion rates. For offline lead generation, you can track metrics such as event attendance, direct mail response rates, and phone call conversions.
Q: Should I prioritize online or offline lead generation for my business?
A: The prioritization of online or offline lead generation depends on factors like your target audience, industry, budget, and marketing objectives. It's recommended to evaluate your specific business needs and conduct market research to determine the most effective mix of online and offline strategies for your goals.
Q: How can a CRM system help with lead generation?
A: A CRM system can help with lead generation by centralizing lead data, tracking interactions, and providing insights into lead behavior and engagement. It enables effective lead nurturing, personalized communication, and streamlined lead management processes, contributing to more successful lead generation efforts.
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