21 Dec Put Your Sales in Beast Mode with the SquareDraft Flow
Sales are the exchange of a commodity for money. Many people associate sales with quotas, high-pressure tactics, negotiating, rejection, cold-calling, and many other anxiety-producing emotions. The truth is that while the great majority of people are afraid of sales, we all engage in some form of selling every single day. We may not be selling products but we are always selling our ideas, opinions, emotions, desires, beliefs, etc. Whenever we want to convince or influence another people we are selling. Granted this form of selling is unstructured and unreliable. For professional selling you need to have a structure, a strategy, and –of course– a plan. That is where SquareDraft’s Flow helps you put your sales in Beast Mode.
The SquareDraft Flow makes your sales efforts more efficient and productive. By using this method you get a clear picture of where you need to be every step of the way from start to finish in order to generate the results you need. After explaining each step we will review the conversion rates assigned to each.
This is the first step in the process. Here you have to identify and screen prospective customers you may want to contact. These prospects may come from many sources like databases, lead generation systems, networking, etc. The goal is to compile enough prospects to ensure success.
Here you should start evaluating and analyzing each prospect to determine the customer’s purchasing potential and goals. Can this be a long-term customer or is this a one-time, spot deal? This will help you determine what sales strategy to use later on.
Research and determine the customer‘s needs and requirements. Find out their current situation, where they want to go, and what role you can play in the process. If you haven’t had direct contact with the prospect, this is the moment to reach out. You should be asking any pertinent questions and setting-up a meeting.
The approach should be made only after having had previous contact with the prospect. At this stage you should have a clear understanding of the prospect’s potential, their needs, and how your product or service will benefit them. Now it’s your time to tell your story by presenting and demonstrating all the benefits you have to offer. The end result is your submitting a proposal.
After submitting a proposal, the majority of the times there will be questions, doubts, objections, changes, and more. Here you need to answer every question, address every objection, and remove all doubts. You need to make sure the prospect feels confident and satisfied enough with your proposal so as to close the deal with you. Make sure everything has been explained properly and in detail, do not leave anything to chance.
This is the part everyone likes. This is where both parties agree on a proposal and the contract, agreement, or sale is finalized. Although this may seem like the last step in the sales process, it isn’t. Up to now the prospect (now considered a customer) has placed their trust in you. Now you have to have their back and follow-up to ensure everything goes smoothly. This is the point at which you start laying the groundwork for repeat business. Remember that you can win a sale via excellent pricing but you can lose a customer via poor follow-up.
Now that you understand the process let’s start assigning values and conversion rates to each step. Let’s revisit the six steps:
For this example we are using a 10% total conversion rate so that of the 40 prospects we started with we converted 4 into customers. To obtain the greatest benefit from the SquareDraft Flow you need to adjust the percentages to reflect your actual performance. The more accurate and realistic your percentages are the stronger your projections will be. You will be able to determine which stage of the process needs improvement and which needs the greatest attention or support. For example, if you are losing prospects after your approach you may need support in addressing objections. If you see that you don’t have enough prospects to approach them maybe you need to focus more on the quality of prospects you are finding. The SquareDraft Flow is a roadmap you can follow to make your sales more organized and effective. It gives you instant feedback as to the areas you should be focusing in on in order to meet your goals.