7 stages of the sales funnel: start with prospecting and end with loyalty
You’ve certainly heard of a sales funnel and know how important representation is for business. After all, it simply illustrates how a customer’s journey works, helping to develop strategies. There are numerous ways to present it, each with a more specific focus. And, in this article, we’re going to cover the 7 stages of the sales funnel, with an eye on what’s most modern in business strategy. Over the years, the sales process, the customer journey and the way marketing relates to our daily lives have changed a lot. Philip Kotler – about whom we will talk at the end of this text – is a pope on the subject and adamant: the time when the idea was to sell to the masses is gone. Businesses today need to be customizable, and the 7 stages of the sales funnel that we are going to cover are exactly about that. How are sales made today? Until recently, companies sought to sell in the same way to as many customers as possible. It happens, however, that there was a great diversification of players in the market, specific niches were created and, today, small ones are able to compete with the big ones many times under similar conditions. Thus, the way of negotiating had to evolve, and nowadays one of the most accepted strategies is what is conventionally calledconsultative sales. The term emerged about half a century ago, but it has only recently become common practice in business. The central idea behind consultative sales is to make the seller become, in fact, a business partner. When working with consultative sales, the consultant analyzes the difficulties faced by the company with which he is negotiating, and what are the alternatives to overcome them. It is only from there that he draws a sales proposal. By doing this, sellers tend to make more assertive proposals for customers. Thus, the chances of the solutions being effective are greater, the customer experience improves and the chance of doing future business also increases. Consultative sales usually bring a series of advantages, and in corporate businesses the most obvious one is the increase in the average ticket. After all, sales in B2B environments naturally tend to involve larger sums, and companies that feel secure in negotiating with others tend to spend more. It so happens that, although in consultative sales the way of acting is different from that seen as traditional in the past, many things are similar. One is that all negotiations go through stages. And do you know the stages of the sales process? 7 stages of the sales funnel In this model, the journey has seven steps. And the 7 stages of the sales process are divided in very different ways, with the intention of seeking the best leads from the beginning. Therefore, the first of the sales stages (prospecting and qualification) is of paramount importance for the smooth running of the entire journey. After all, a bad choice about who to negotiate with can mean unnecessary expenditure of resources, as well as an effective loss of time. It is clear, however, that all stages deserve the utmost attention. Knowing how to prepare a presentation that fits the potential customer, choosing the best way to approach them and presenting a proposal that fits their needs is the first part of a successful sales process. The final part, in turn, is about being as consultative as possible. That said, these are the 7 stages of the sales funnel: Prospecting and qualification; Preparation; Approach; Presentation; Dealing with objections; Closure; Follow-up and loyalty. 1. Prospecting and qualification Let’s start at the beginning. The first step in an effective sales process is prospecting. In it, you make widemarket research after potential customers – which in marketing and sales are conventionally called leads. There are several ways to do this prospecting, both through inbound marketing,how much per active search. In case of corporate business, the intention behind the prospecting process is to have a broad base of potential customers. These are companies that are in a branch of economic activity similar to yours or capable of being interested in your product or service. This initial search should be broad. Any and all companies that seem to benefit from the products or services you have to offer need to get on your radar. It happens, however, that not all of them will actually become customers. Therefore, to reduce the chance of error by investing in negotiations that have no chance of occurring – at least at that moment – ​​it is necessary to qualify the leads. A lead qualification it is the sales stage in which you analyze whether that company can, in fact, move forward in a negotiation. At that moment, you need to find out if that lead is ready, willing and, above all, able to buy from you. After all, there is no point in spending weeks or even months negotiating – something quite common in the stages of thecomplex sales process, for example – if that company does not have effective conditions to make a purchase. Qualification is very important because it is also a statistical issue. Studies have already shown that, in modern sales, in general, a typical purchase happens after approaching seven potential customers. Thus, it is essential to find the leads that best fit theideal customer profile before moving on to the next stage of the sales funnel. Do you want to grow your business with the help of B2B experts? Protagnst can help! Get in touch and find out about our solutions. 2. Preparation The second of the 7 stages of the sales process also precedes the approach itself. In other words, you have to do your homework. You have already identified a company that could be a potential customer. You’ve already warmed up that lead, identifying that he has a real chance of being interested in your product or service. The business is indeed promising. That way, you can’t afford not to
What does a sales consultant do?
The sales area is one of the most important for any business. After all, it is responsible for guaranteeing a good part or even all of the companies’ revenues. Thus, having qualified professionals who know the market and who are capable of prospecting new customers is essential. And that’s exactly what a sales consultant does. The world has a strictly commercial society. Buying and selling products and services is what drives the economy. Even those who produce need inputs, machinery and, of course, having someone to negotiate with. Despite this, the sales sector is often neglected or, at least, does not have the attention it should have. Although many companies consider hiring a sales professional to be an additional cost, if they have the right profile, it will be an investment. After all, what a sales consultant does is attract revenue, not push it away. Another option is to hire companies that specialize in sales consulting, such as Protagnst. These companies have the advantage of having an entire team devoted to prospecting and business analysis. Thus, the return is usually faster and more assertive. In this article, we’ll show you how hiring a sales consultant or consulting firm can be the turning point for your business. Whether on a permanent basis or through a service contract, a good sales consultant is able to improve your way of negotiating or even offer you new opportunities. Next, learn all about sales consulting and why you should consider hiring yours too. But what does a sales consultant do anyway? A sales consultant is a professional whose job it is to find and implement solutions that improve a company’s sales process from end to end. This is a professional who needs to be aware of market changes, in order to identify and plan the best sales strategies. Sales consultants are professionals hired by companies to provide sales training, sales consulting, and other sales-related services. He is the right professional to improve the conversion of leads for your company, since he applies all his knowledge and analytical capacity to influence people, improve the average ticket and the total number of customers. Prospecting for customers, presenting the company and its products and services, discovering customer needs and formatting solutions based on them, as well as negotiating business terms, is also a summary of what a sales consultant does. If you are already familiar with the sales funnel, the consultant is the person who is responsible for taking the customer to the top of it and ensuring, in the sequence, that they reach the conversion. The sales consultant conducts the sale as if he were consulting with the customer. He applies consultative sales techniques, making the lead receive added value during the sales process. What does the sales consultant do exactly? It helps the customer to make a better purchasing decision. He can offer his services, or sometimes even recommend a competitor, if this client is not his ideal client profile. The commercial consultant makes recommendations, and gives suggestions and advice during the sales process. More than selling, it starts a relationship with the customer. This type of professional is increasingly important for the company, especially in times of crisis – such as the one triggered by the pandemic. After all, with the downturn in business, those who consume and those who offer need to be accurate in their choices. There is little room for betting, and that is precisely why having a professional capable of enhancing results can make all the difference. In times of crisis, decisions are taken collectively. This means that normally the option that prevails is not the one with the lowest cost, but the one with the lowest risk. The lower risk usually costs more. Therefore, to sell more in a crisis: offer security. Offer and commit to delivery. If you want to hire a company committed to your sales, consider Protagnst’s sales consultancy. Fill out the form to schedule a chat. The Sales Consultant can be represented both by the seller, who makes the consultative and complex sale, and can be an external commercial consultant, who identifies the needs of the company, and proposes improvements, based on the needs of each company. Sales consultants are often called on to help a company with a specific problem or objective. They can be hired for anything from providing customer service to improving the company’s marketing campaigns. Sales consultants can work on a contract basis or they can be hired as full-time employees. Either way, they will typically work closely with the company’s management team and executives to develop solutions that will help the company achieve its goals. What is the difference between a sales consultant and a seller? What about the closer or commercial consultant? In many cases, mainly in consultative sales and inside sales, we use the term sales consultant, commercial consultant or even the term closer to represent the same thing: the seller. Commercial consultancies like Protagnst have teams of sales consultants or commercial consultants, who are responsible for delivering sales consultancy projects. In these cases, we make a diagnosis to understand the needs of each company, and based on that, offer solutions that adhere to the needs of each company. In addition to these names mentioned, we also have the position of account executives or Key Account Executive, who are also responsible for the commercial sector of the company. As we mentioned, the sales consultant makes a consultative sale and during the process of serving the potential client, he understands the client’s needs, making a diagnosis to verify what the client needs, to then make the relationship with his solutions of sales and see whether or not it makes sense to continue the sale. The sales consultant gives commercial advice during this service process. And this process is seen during every moment of the sale. During the proposal presentation, lead qualification, or even during the sales closing process, it is important for the sales consultant to understand the customer’s