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Deal Cycle
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FAQs online signature
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What is the sales cycle?
The sales cycle is the process of selling a product to a customer. This cycle comprises several parts, including obtaining leads, qualifying buyers and closing the sale.
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How do you calculate deal cycle?
To calculate your sales length cycle, you add up the total number of days it took to close every sale, then, divide that sum by the total number of deals.
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What are the 7 stages of sales cycle?
This article will cover the typical seven steps or stages in that process, but remember that not every sale or customer interaction will follow the same path. Prospect for leads. ... Contact potential customers. ... Qualify the customers. ... Present your product. ... Overcome customer objections. ... Close the sale. ... Generate referrals.
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What are the steps in the selling cycle?
In a sales cycle, there seven steps you take to complete a sale with new customers—from first contact to signing the contract: Find leads. Connect with leads. Qualify leads. Present to prospects. Overcome objections. Close the deal. Nurture new customers.
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What are 7 steps of sales strategy?
The 7-step sales process Prospecting. Preparation. Approach. Presentation. Handling objections. Closing. Follow-up.
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What are the 9 steps in sales process?
How to build a sales workflow in 9 simple steps Develop product expertise. Conduct target market research. Get started with Prospecting. Move to lead generation. Start filtering and qualifying leads. Conduct a customer requirement analysis. Make a sales call. Follow up and seal the sale.
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What is a deal cycle?
A sales cycle is a process used by companies to successfully convert leads into customers. It outlines the key steps that should be taken in order to nurture a lead and close the deal, offering a road map for all salespeople in the company.
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What are the 7 stages of the sales cycle process?
There are seven common steps to the selling process: prospecting, preparation, approach, presentation, handling objections, closing and follow-up.
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- Why do you want to stop selling and start closing? You see, most people, they don't know how to communicate. Fewer people know how to sell and almost no one knows how to close. There's a very big difference between selling and closing. You see in any sales conversation, in any sales environment, in any sales meeting, you do not get paid by selling. How many of you know people who just sell sell sell sell and they don't get paid? Or they turn off their prospects. You only get paid when you close a sale. I want you to think about the difference between a sales person versus a closer. You see a sales person, they would push. They would use aggressive tactics. When you think of a traditional sales person, what comes to mind? Comment below. It's snake oil, it's scammy, it's slimy, it's pushy. Versus a closer. How do you know when you are a good closer? After you've done a sale, after you've closed a prospect, when your prospect says, "Thank you." "Thank you for helping me make this decision." "Thank you for helping me move forward." That's when you know you are a good closer. There's a big difference, sales person and a closer. You see today I want to teach you something very very critical. Why you should stop selling and start closing, and what is the most powerful way that I know of to close, and it's not what you think. Today I'm going to teach you what I call "Value in advance" Write it down. The formula is called "Value in advance." Now, you can see on my social media I have millions and millions of followers, and every single time when I make an offer, when I sell, when I try to close a sale, instead of waiting for the phone call or waiting for the meeting, face to face to do all your closing, that is very difficult, because you only have a very short period of time to persuade, convince a prospect to say yes. Instead I believe what you need to do, you need to do a lot of work, before you even open up your mouth. A lot of work needs to be done before you even say a single word. In one of my previous videos, I talk about this. The best way to sell a box of chocolate is what? Is to give people a taste. One piece of chocolate, if they like that they'll want to buy the whole box. It's exactly the same in closing. I don't want to count on closing, that closing part, that conversion part, that face to face, on the phone part, to do all the heavy lifting. I want to start closing way in advance, and the best way to do that is "Value in advance." How can I provide value to someone in advance? For someone who is consuming my materials, watching my video, consuming my content. When I release something, when I make an offer, the trust is already there. That it's easy for them to say "Yes." Let me give you a perfect example. Let's say you are a martial artist, and you are teaching someone how to be a black belt, and of course you're not going to be a black belt over night. There are a series of steps you need to go through in order to attain your black belt. Lets say the very first step is you need to learn how to do a proper stance. Okay, that the first step, and then you need to have some basic flexibility. How to do stretching, stretching exercise, and then basic punching technique, and then basic kicking technique. Lets say and then you learn some jumping kicking technique. Then later on you also have power and speed, endurance. Lets say it takes you seven steps to get from point A to point B, you with me? The best way I could convince someone to say, hey I'm the guy that can teach you how to be a powerful human weapon, how to be that confident black belt. Instead of telling you how good I am, I know it takes you seven steps to get to your goal. All I need to do is provide value in advance. Let me teach you through my content how to do a proper stance. Let me get you to that first step. I'm not going to get you to the end goal, but I'm going to get you to the first step. I might even teach you some basic stretching exercise that you can do from the comfort of your own home. To help you become more flexible, to get you to almost step two. Now what happens is this. That if I am the person that gets you from point A and then point B. Not to the end goal yet, but you're already getting value from the free information, the free value I'm providing, and what the prospect is thinking is this, "Wow, If I'm getting so much value from the free stuff, if the free stuff is this good, I wonder what the pay stuff is going to be like" and that's exactly how the "Value in advance" formula works. You don't wait till when the money takes place, the transaction takes place to start closing. You started closing from the beginning. When you're delivering value to the marketplace. You provide so much value in advance when you make an offer your prospect is like this is a no brainer. Of course I want to buy. I'm already getting so much value. You've helped me solve the first two step problem. I know I have five more steps to go. Of course you are the man, you're the woman, you're the company I want to go with. Instead of trying to convince them, you don't know me, you don't like me, you don't trust me, give me some money. No! Give them some value upfront. Help them solve some problems upfront. When you do that through social media, through video, through education, through content, that's a smart way to do it. You can do this on a massive scale. You're impacting so many peoples lives, and you're adding so much value to people's lives. When you make an offer, it's easy. When you do make an offer, then it is just a moment when you realize all the hard work you've done in he beginning. You're not selling selling selling, trying to use some gimmicks or techniques or whatever tricks trying to close people, and there's a time and place for that, but you don't need that. I bet I have so many students, if you're watching this comment below. You've gotten so much value from my free content, and then by the time I make an offer you're like Dan is the guy, of course I want to learn from him. I want him to be my mentor. Why? Because, I've done so much. I combine and I strive to combine my branding, my education, my marketing and closing all as one thing. Instead of isolated components, I treat them as one. I strive to get to a point where it's automatic closing. Where the closing is natural. Where it's not forceful. That people are happy to be closed. That's exactly why you need to stop selling and start closing. I'll teach you one more thing before we go, and that is this, every single time you offer something, every single time you make an offer, you want to strive to deliver 10x more value. Meaning this, this is what I truly believe, it is my mode in business. If you sell something for $100, what can you do to strive to deliver 10x more value? That's $1000 worth of value, when you charge $100. When you can do that it's easy. It's easy to close. because people can see the value. It's a no brainer that they want to buy. They are happy to buy from you, because they can see how much value you are delivering. I want you to think about this. How can you implement "Value in advance" in your business? How can you deliver 10x more value? What can you do? I want to leave you with one thought, and that is this, closing is not something that you do for somebody. Closing is something that you do for somebody.
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