When it comes to sales cycles in the technology industry they tend to be a great deal longer than other industries due to the larger financial and time commitment expected from the buyer. Simply getting all parties involved in the decision to agree can consume a great deal of your sales person’s time.
But in order for your company to continue to grow, it is important to work towards shortening your technology sales cycle. Here are a few tips to get you started:
Target the Right Companies
Choosing quality companies that have a need that fits your company’s products and services is one of the simplest ways you can reduce your technology sales cycle. This means finding out information about a company’s size, budget, need, and any other factors that are important to your business.
While this may mean your sales team needs to do more research upfront about a company, this step can allow your team rule out companies that aren’t a good fit early on and focus in on those that are.
Talk to the Right Person
In sales, a lot of time can be wasted talking to the wrong person. Skipping the middle-man can be a powerful way to save time and get a decision made. But this also means you have to understand how the company you are targeting is structured. Learning who is in charge of decisions, and who are influencers that need to be on your side can help you focus your efforts where they are needed most.
Understand What the Prospects Struggles Are
You will never be able to sell effectively, much less more quickly, if you don’t understand exactly what your prospects are struggling with, and how your products or services address those problems.
Knowing your prospect's pain points allow you to more effectively sell your services in a way that speaks to those needs. Without that knowledge, it is nearly impossible to speak about your company’s offerings in a way that will actually make them attractive, and even necessary, to your audience.
Address Objections Early On
Another way to speed up the technology sales cycle is to address sales objections as early on as possible. This means addressing common objections as early as possible, and also asking the prospect, when the time is right, if they have other concerns that you could address. This gives you a chance to address these issues before the prospect dismisses you entirely.
Invest in the Right Technology
Using a CRM is a definite must. Using a CRM that integrates with your marketing automation may be a way to take your sales and marketing to the next level. Integrating these two can allow you to shorten the sales cycle by only passing off sales qualified leads from marketing to sales.
Competition in the technology industry is stiff, so following these tips can make a huge difference for your business. Overall, shortening your technology sales cycle is key to growing your business and using your sales team’s time wisely.