This is a continuation of this post.

The successful implementation of a sales process requires all sales reps to understand each step so they can properly engage prospects through the whole process and convert them into customers. 

We discussed the first two steps in a standard 8-step B2B sales process (though the number of steps is really up to your business model and goals) in the previous post. We break down the next steps right here.  

Understanding Each Step of the Sales Process

What It Is: This is your very first meeting with a client. It could involve you pitching a presentation, doing a demo, or simply conducting initial exploratory talks with the prospect. In organizations following an inside sales process, this could be a video conference call where you get to talk to the prospect at length. Ideally, you are meeting with the decision maker, and this is something you need to establish in the qualifying stage.

If you’ve gone through a series of phone calls and email exchanges with the prospect prior to this meeting, and have touched on key topics normally discussed at this stage (e.g. your product’s features), then this meeting could just be a formality or another means to build a rapport with the client. Whichever the case, you must nail this first meeting.

What You Need at this Stage:

• A convincing sales pitch. The goal is to convert the prospect into an actual customer. To do this, you have to remember the 5 important Cs in a sales pitch: clear, concise yet comprehensive, convincing, and customized for the prospect.
• A clear understanding of your prospect’s needs. At the end of the day, you’re there to solve a problem or address a need. So you need to understand what your prospect needs exactly. Again, this is where research plays an important role. The previous qualifying call(s) or email(s) will also help you. It’s also possible to get this information via online and lead magnet forms.

What You Need to Do at this Stage:
Whatever the format or circumstances of the initial meeting, at this stage, you’re expected to:

• Explain the value your product offers. Yes, you’re expected to outline your product’s features, but your emphasis should be on the benefits the prospect will receive from these features. What problems are you solving? What needs are you fulfilling?
• Answer all questions—about the product, your company, even you—that prospect may have. So best to prepare for the frequently asked questions and then some.
• Offer something of value. Perhaps you can offer a free demo or a free trial period for the client. Value may also come in the form of content: e-books, case studies, and similar that demonstrate your expertise yet also provide your prospect with relevant information.
• Ask all the pertinent questions. Your research may not give you all the information you need. You can ask your prospect and other members of his team questions that will help you prepare for what’s next: submitting a formal proposal.

4. Proposal Submission

What It Is: You are expected to send the prospect a formal proposal that outlines what you offer, the estimated costs for your product and/or service, and the projected timeline for completion. This has to be a proposal that is customized specifically for what the prospect needs, and what he wants to achieve.

What You Need at this Stage:

• A custom proposal. It should address the prospect’s needs, outlines your specific deliverables, highlights the value you offer, and defines estimated costs and projected timetable.
• Case studies, testimonials, white papers, etc. that demonstrate previous and current clients’ success. These are social proof that should help you convert a prospect early on. You would want to quantify these success stories with key performance indicators (KPIs) or metrics, like “10% increase in revenue” for example.

What You Need to Do at this Stage:
So you can up your chances of closing the deal following the submission of the proposal, at this stage, you should:

• Listen and respond to prospect feedback. Everything the prospect says at this point will help you close the deal, so listen well.
• Anticipate objections. This is one strategy a lot of seasoned sales reps employ. Anticipating objections involves identifying all possible objections that a prospect will raise in response to your proposal AND planning the correct response and strategy for each.
• Prepare for lead nurturing. If a prospect doesn’t convert immediately after this stage, the lead may need to be nurtured. Depending on your organization’s structure, sales team and/or marketing will perform the lead nurturing.

What It Is: This is the part where prospect comes back with feedback on your proposal—and they’re not all positive. Some will object to certain parts of the proposal, like pricing. Some will accept the proposal but will not green-light the purchase yet. Some will not respond at all and just go cold. And some will flat-out say no to your proposal.

Many sales reps usually have two strategies when dealing with objections: anticipate and prepare for them, as mentioned above, or surface them. Surfacing objections means uncovering possible objections early on in the process. A sales rep may ask, “Do you see any reason why this product won’t work for what you need?” Either way, you will still need to listen to the objections and deal with them.

After handling objections, you may need to negotiate and find your “middle ground.”

What You Need at this Stage:

• Objection handling and negotiation strategy. You have to turn that “no” or “maybe” into a “yes.” This may take a couple rounds of discussions. Below is an infographic on some really successful strategies:

What You Need to Do at this Stage:
Remember that objections are part of the sales process. At this stage, you should:

• Document all objections, questions, and concerns. It pays to have everything listed down so you are sure to address every issue.
• Address all objections and negotiate like a pro. Use your available strategy and work had to close the deal.
• Finalize paperwork. You have to agree on pricing and terms of the agreement and finalize all the legal documents and contracts.
• Follow up. You may need to follow up several times to keep the discussion ongoing, especially after objections have been raised.

6. Closing the Deal

What It Is: Once all objections have been handled and negotiated and you’ve agreed on the final terms and conditions, it’s time to close the deal. This stage involves signing off on all the legal paperwork. Depending on your business, a closed deal could also just mean a purchase of and payment for your product or service, on your site or elsewhere.

What You Need at this Stage:

• A prepared contract, agreement, or purchase order. You must be ready with a contract and/or agreement. In fact, having a prepared contract is one strategy pros use to ask for a sale.

What You Need to Do at this Stage:
Tie all loose ends at this point and do the following:

• Set a schedule for contract signing. Make sure to get the appropriate signatories from the client’s end.
• Set a date for purchase and/or implementation. Set a clear date on when the project or implementation will commence.
• Finalize the purchase order and payment term(s). For businesses that don’t require formal contracts, make sure you finalize details of the order in a purchase order or any form of an agreement.

7. Deal Won

What It Is: Congratulations! You’ve won the deal. The prospect is now an actual customer. Now is the time to deliver the contract and have the customers sign on the dotted line. Payment for the purchase, based on agreed-upon payment terms, should also be accomplished at this stage.

What You Need at this Stage:

• A signed contract, purchase order, or agreement. This should be acquired at this stage—signed, sealed, and delivered.
• Payment. Depending on the payment terms agreed upon, make sure that they are enforced and that initial or full payment has been made.

What You Need to Do at this Stage:
You may have won the deal, but work doesn't end here. At this stage, you're expected to:

• Deliver the promised product or service. Set a schedule for delivering the product or for customer to gain access to the product or service.
• Arrange for onboarding. This may be done one-on-one or virtually, depending on your product or service. But it’s very important that appropriate time and resources are available for the customer to fully acquaint himself with his recent purchase.
• Cover all bases for successful implementation. Ask customer for anything else he may need to successfully use and/or implement the purchase.

8. Post-Sale Support

What It Is: Most companies will probably end it at “deal won.” But if you really want to ensure high customer retention, which directly and positively impacts your bottom line, then this step is very important. In fact, CEO Amit Sharma proposes that this post-purchase moment—or the Actual Moment of Truth—is the perfect opportunity to engage a customer and turn him from a one-time buyer to a lifetime advocate.

What You Need at this Stage:

• Post-sale customer support and service strategy. This strategy should answer the question: "What are you doing for your customers to keep them loyal to your brand?" For one, you must always aim to meet—even exceed—your customers' needs.

What You Need to Do at this Stage:
At this stage, you must work doubly hard to retain your customer. You should:

• Create new “experiences” for a buyer. Post-purchase, you can send them links (video or content) on how to use the product or service. Or you can send them a thank you note and/or token for the purchase,
• Make the client feel taken care of. Call them to get feedback or updates on their use of the product or service; or simply send them messages to get in touch if there are problems. There are so many things you can do post-purchase that can make the buyer feel valued and taken care of.
• Respond promptly. Address all feedback—positive and especially the negative.
• Consider upselling. After a first purchase, an upsell is a smart move. If you do it correctly, upselling can help improve customer satisfaction, which eventually positively affects your customer retention rate and customer lifetime value (CLV).

Now that you have everything your sales reps need to know about your sales process, its successful implementation needs to be closely monitored. A CRM like Lucrativ will give you the pipeline visibility you need. Also, sales is such a dynamic process in itself. So don’t think that your sales process today is set in stone. Continually assess and review it to see which areas can be improved on—and how.

Photos from Pexels