Great Sales Article from Inc. Magazine

Posted March 26, 2007 by Margie Zable Fisher

I just read a great article in the April, 2007 issue of Inc. Magazine. The article title is “The Need for Speed: How to Rev Up Your Sales Cycle,” by Susan Greco.

Here are the key points:

Find different buyers - Example: a manufacturer of robes had a long sales cycle selling to established hotels; she changed her target to working with interior designers of hotels still under construction, which offered a much shorter selling cycle.
Target clients earlier - Example: a company that manages the logistics of corporate training events started asking prospects about the next season’s schedule - events that were six to nine months away - and invited them to take a tour of the logistics company’s facilities. This led to a shorter selling cycle.
Team up with friendly rivals - Example: an insurance company teamed up with rival brokers to gain access to top accounts; commissions and fees were split, and everyone got more business and made more money.
Screen your leads - Example: a software company spent a great deal of time talking to people who weren’t qualified to buy the high-end software. Now one employee does nothing but prequalify leads on the phone, which shortens the sales cycle.

There are many ways to apply these ideas to your business. All are great examples of how innovative thinking leads to business growth.