When studying the basics of marketing, we were always taught the stages a person goes through when a company tries to turn that potential client into a customer and then all the way to the end of the relationship. Many companies realize the different stages but are ineffective at acting on them properly enough to go through the stages at an appropriate rate for the revenue to come in. Setster understands that such misunderstandings are a major cause to throwing your sales cycles into a sand trap and are here to give you 3 very simple steps to boost sales.
- Get Back To Basics With The “AIDA” Model
Although the AIDA model is old, it is still relevant in identifying the major emotional phases a buyer is faced with when they want to make a purchase. They are Attention, Interest, Desire and Action – and following these steps will help you boost sales.
If for example you are using a website to attract customers and make sales, the first thing you have to notice is whether your website and its content is attractive enough to grab the ATTENTION of the potential customer. Once that is achieved, the message your marketing team communicates must be designed to make the listeners and viewers INTERESTED in your product so that it takes up some more of the customer’s mind share.
Once you have captured their interest in their minds, it is time to go a step further and build a DESIRE in their hearts. You must notice what steps you are taking to build a want or a need in the customers by for example, sharing the positive reviews of others who have purchased your product or service.
And finally, does your sales process have a segment where the customers themselves can take an ACTION and become physically engaged. Such as can they customize the different aspects of your product through an interactive 3D imager or have free physical trials at home. These steps might seem basic but are generally overlooked as companies go through the years.
- Get Focused on Closing Out Sales Instead of the Objectives
Salespeople usually set the obvious highlights of their actions as sales cycles themselves. Even though, this is partially correct it is in fact deceptive. First of all, these stages are set by the salesperson themselves and their actions but not on the actions of the customer. For example, not many customers will decline a proposal to meet with a salesperson and see what he has to offer, but simply meeting with him will not mean the confirmation of a sale.
What this means is that it is better to incentivize salespeople who can take a customer through all the stages of the sales cycle all the way to its closure instead of rewarding those who only meet a lot of clients but in the end bring in nothing. The actions of the sales representative count for very little to get the sales cycle going as opposed to the actions of the client.
- Gauge Your Activity And Your Conversion Rates
Now that you have a proper sales cycle going on with a couple of stages, all of which have the ideals of the AIDA model at its core, and have also connected each of those stages to a definite customer based event, you can finally see how well you have done by measuring the results. Sales pipelines can only be efficiently managed through 2 methods – concentrate on the number of isolated activities that occur at every stage, or you can calculate the time it takes for one stage to convert to another.
A clear example of this would be an organization that is interested in strengthening the early stages of the pipeline, concentrating on the activities on the back end of the pipeline, such as searching for prospective clients by setting targets for their sales teams to achieve on how many clients to be contacted and procured each month. The company could also see the proportion of calls that have to be made before a meeting with a client is confirmed and then to work on that they could train their sales team with some new age marketing techniques that help with communication of the offers and reduce the number of calls that need to be made.
A successful sales executive needs to keep their mind on only three metrics – the activities they are performing, the conversion rate and the velocity of that conversion. The simplest and healthiest way to achieve the proper results on each metric is to communicate your expectations to each and every sales representative as well as the management so they know what level they have to reach.
Image by: Alden Jewell