DETAILED REPORT ON SALES PROCESS

Introduction

A sales process is a repeatable sequence of stages, each including a set of actions that sales reps
perform to convert a potential customer from a lead to a paying customer. It acts as a roadmap to
keep the team members on track.

This process may include anywhere from three to ten steps, depending on your product or service
and who you’re selling to. And, it should mirror the process that the customers actually use when
buying.

Some steps in sales process;

 Prospecting and Initial Contact

Prospecting and Initial Contact

Every sale starts with a lead. Leads are found through prospecting, also known as lead
generation. There are various ways for the company to prospect such as through marketing
methods, networking at live events or trade shows as well as on social media, purchased lists,
cold calling and referrals. The prospecting process helps identify potential buyers who have
expressed interest in your product or service or who might be interested based on their
demographics, industry or other characteristics.

Qualifying

Regardless of how the acquire leads, sales reps will need to make initial contact with them. This
may be via a phone call, email or through social media. During this first interaction the goal is
for the team member to gather key information to determine if leads are a good match for the
product or service. Qualifying questions are typically related to budget, authority, need and
timeline. When the lead is a qualified prospect, rep may proceed with a needs assessment.
Depending on the product or service, this may be conducted during a separate interaction, by
phone or in person, and scheduled at the close of the qualifying call.

Needs Assessment

At this stage, reps need to have a series of standard questions prepared to ask prospects. This will
prevent them from forgetting to enquire about any important details while guiding the
conversation. Plus, this makes them look more professional to potential customers. These
questions should be open-ended to encourage the prospect to talk. Reps need to be sure to listen
more than they speak at this point in the sales process. Although they may be tempted, they
should not start discussing product at this point. The goal is to thoroughly understand the
prospect’s situation, challenges and motivations to potentially make a change by purchasing your
product or service. This information makes it easier for the team members to tailor the sales pitch
or demo to each specific prospect. Plus it allows them to anticipate any objections by
understanding what might prevent the potential customer from moving forward with the
solution. 

Sales Pitch or Product Demo

At this point in the sales process it’s time to clearly communicate the value of the solution in
terms of the prospects needs, challenges and desired end state. This is effectively accomplished
by connecting the potential customer’s needs and wants with the corresponding features and
benefits of the product offering. This is why it is critical that reps gain a clear understanding of
what is discussed during the needs assessment stage. Plus, additional information to have a good
grasp of during this stage is based on any further details about the prospect’s company and
industry. This will provide additional context and facilitate an even better quality pitch or demo.
Be sure that your reps make note of any specific benefits in which the prospect is most
enthusiastic about. At the end of this stage a proposal, if appropriate to the product or service, is
typically scheduled for a mutually agreed upon date.
Proposal and Handling Objections

Not all products and services require a separate proposal. If it does, it should be customized for
the prospect based on all the sales rep has learned about the needs, challenges and motivations so
far. They’ll want to focus on the aspects that are of greatest value to the potential customer and
highlight how it will help them reach their desired outcome. Once the proposal has been
presented, the prospect often expresses questions or concerns. These are also known as
objections. There are usually a limited number of recurring objections for any given
offering. Keep a record of these and what responses are best to address these. Sharing this
information across the sales team will ensure that reps won’t be caught off guard by an objection
and will always be prepared with the most effective responses to remove any roadblocks to
closing the sale.

Closing

This is where prospects commit to purchase or to stop the process. It is just one step in what may
be a very long sales cycle. While this may seem like the most important step, it is only successful
when all the previous steps have been completed properly and in order. There are hundreds of
different closing techniques, tips and tricks, but the most important thing to remember is that it is
not a standalone event. When the sale is made, prospects agree on the terms and price or
negotiate for mutually beneficial ones. All objections have been addressed and all details are
finalized for delivery, fulfillment or related actions. This may also involve introductions to others
in the company who will be handling these next steps.

Following Up, Repeat Business & Referrals

Happy customers make excellent candidates for the other services. By nurturing an ongoing
relationship with them, they’re often receptive to purchasing additional products or services and
repeat business. Plus, they are terrific source of referrals. A great way to continue these
relationships is through marketing communications such as updates about new offerings,
industry news, an e-newsletter or some sort of interactive rewards program.  This way, customers
will always think of company first when they have a related requirement or a friend who has one.
Sales process in Human resources services

Direct mail

Direct mail is a powerful way to drum up new business because it’s targeted to exactly the
audience to reach. To create or rent a targeted prospect list, then send prospective clients a sales
letter, brochure, flier or "lumpy envelope" with a gift enclosed, all describing the consulting
services you offer.

Here is some information for creating attention-getting direct mail:

 Personalize the sales message. Use a mail merge program and address each envelope to
the recipient by name. In the same way, the sales letter inside the envelope should be
directed to that recipient by name. 
 Put a compelling message on the outside of the envelope. "Free," "Limited time offer,"
and "Act now" are all powerful attention-getters that can induce the recipient to open the
envelope. 
 Stress the benefits of the offer, and give all the pertinent details in the sales letter. Then
make it easy to respond or request information. Give the phone number, e-mail address
and website URL--and include a postage-paid postcard or envelope, too, so it's
impossible not to get back to the company if the interest is there.

Cold calls

Another way to reach out to prospective clients is through cold calling, which is the process of
contacting prospects who weren't expecting a sales call and trying to sell them the services. Most
people absolutely abhor cold calling, but when you're starting a new business, it's a good idea to
try a mix of techniques to land new business, which means you should give it a shot.

There are some ground rules for successful cold calling. First, be prepared to be rejected. To get
at least one prospect to say yes, it may have to make between 20 and 30 contacts with people
who have the authority to hire. Next, try phoning between the hours of 7 and 9:30 a.m. -- it can
be a great time to catch someone when they might be more receptive to the sales pitch. Second,
practice the pitch, both out loud and in front of a supportive business colleague or friend. Ask for
feedback on the effectiveness and sincerity of your delivery, and make adjustments as necessary.

Advertising

Because traditional advertising can be expensive, it's important to spend the advertising money
wisely. Depending on the type of services offer, it may be necessary to advertise in specialized
trade journals or magazines. In addition to placing ads in the full print run of a publication, it also
should consider advertising in any specialty sections that might include a "Consultants
Directory" or "Directory of Consulting Services."

Another useful though expensive advertising tool is the local Yellow Pages. It automatically
receive a line ad in the Yellow Pages when install a business phone line, but it might want to
consider taking a larger ad in the book--people often assume that since spent extra money on that
display ad, you may be more established and even more professional than those consultants who
didn't advertise.

Newsletters 

Newsletters can be an effective tool when it comes to rounding up clients for the consulting
business. Through newsletters, will present news of interest to potential clients and remind
former clients that you're still alive and kicking--and available if they need help again.

A typical newsletter published by a consultant will include:

 News of importance to the industry. Can collect information from a variety of sources,
including magazines, newspapers, professional journals, websites, etc. Just make sure it
credits the source of each news item you use.
 Editorials and opinions. Here's the chance to sound off on a particular subject related to
the consulting field.
 Tips for success. Tell your readers how they can do their jobs better.
Referrals

 This often-overlooked method of finding new clients is an easy marketing activity. All that have
to do is waiting until finished the consulting assignment, confirm that the client is completely
satisfied, and then ask for a referral. Rather than putting client on the spot, send a note or a short
letter thanking them for their business and asking for the names of any colleagues, friends or
business associates who might be good prospects for your services.

Conclusion

A good sales process is never set in stone. It needs to be revised and adapted regularly; making
sure it reflects the current state of the market, customers’ changing needs, team skills, and the
business specifics. It should always remain a work in progress.