Why Your Sales Cycle is So Long (Hint: It’s Not About Your Solution).
Do you know why it takes so long for a buyer to buy? If the buyer knows they have a need, and they like you and your solution, shouldn’t it be easy?
Yes. It is easy. But not with the sales model alone.
THE JOB OF THE SALES MODEL: LIMITING THE PURCHASE CHOICE AND BUYING DECISIONS
The sales model is meant to place a solution. It was designed for a simpler time in history, when there were fewer solutions, precious few ways of marketing them, no internet or FEDEx to get solutions from China delivered to your front door in two days. It was not designed:
- to bring together disparate players on a Buying Decision Team,
- to circumvent many creative solutions that can address a problem besides yours,
- for a bad global economy.
Sales places solutions. But if it were that easy you would have closed more.
You know those sales where the buyer shows up and buys almost immediately? What’s the difference between them and others who take forever? The difference is they are one of the 80% who will buy a solution within 2 years of working with a solution provider (and left behind a trail of dead sales people) and NOW is their 2 year mark: they have finally discovered and gotten agreement on a route to move forward and all of their ducks are in a row. Their need is defined; the new job descriptions are described, the users are ready, the new material will fit comfortably with the old so as to avoid disruption.
The last thing the buyer does is find a solution. Sales enters at the wrong time, offering the wrong data, to the wrong people. If you do the exact same thing you’re doing now, but after you use Buying Facilitation® to help them navigate through their behind-the-scenes decision path, then you’ll close quickly.
MUCH SHORTER SALES CYCLES USING BUYING FACILITATION® AND SALES
Here are some numbers that my clients (using Buying Facilitation® AND sales) tracked against their control groups:
- A large insurance company went from 110 visits and 18 closed sales to 27 visits and 25 closed sales.
- A large tech company selling a small piece of software ($10,000) went from a 6 month sales cycle to a 3 call close.
- One of the Big 3, with a $50,000,000 solution went from a 3 year sales cycle to a 4 month sales cycle.
- One of the world’s largest banks went from closing 2% with an 11 month sales cycle , to closing 37.5% in 2 months.
- One of the well known boutique brokerage houses when from $400 Million to $1.2 Billion in revenue in 4 years.
They did this by become true Trusted Advisors; they used Buying Facilitation® to facilitate the buying decision, and then they sold.
Your sales cycle is long because buyers have to figure out how to get the right people and policies aboard before they can buy. It’s not about your solution. Do you want to sell? Or have someone buy? They are two different activities. Which do you want to focus on? And how will you know if it’s worth adding something new to what you are doing?
Get a hold of Dirty Little Secrets: why buyers can’t buy and sellers can’t sell and what you can do about it and read it. Then contact us so we can train you.
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