Managing Major Sales - 7 Steps That Could Change Your Business

In: Business and Management

Submitted By axiavalue
Words 1610
Pages 7
Managing your Major Sales - 7 Steps that could change your Business

Mike Wilkinson of Axia Value Solutions looks at ways of improving performance, lowering costs and building profitability
Ever lost a sale you thought was in the bag? Not an unfamiliar feeling for many businesses large and small. No matter how good you think your product or service is, everything finally boils down to your ability to convince others that it is good for them. It is all about getting the decision makers who matter to say "Yes". In major sales the whole approach is fundamentally different to small scale selling and requires a very different set of skills and techniques. Being competent in the small, simple sale is no guarantee of success in larger scale selling. The traditional techniques and "tricks of the trade" such as closing don't seem to work in quite the same way in the more complex large scale sale. They are replaced by precise planning, information gathering and behavioural skills that build trust in the minds of the decision makers. Fundamental to this is the development of a detailed understanding of how decisions are made in your target customer and who the key players are. So what constitutes a major sale? For most businesses they have a number of characteristics: 1. A lengthy sales cycle. This can vary from a few days to a few months or more depending on the industry. 2. Multiple decision makers. Any decision becomes complex as soon as more than one person is involved in making it. Understanding who these people are and their role in the process is vital if you are to improve your chances of success. 3. High potential value/importance. This varies from business to business. If your turnover is £250k an opportunity worth £10k might be considered very important. If your turnover is £50m it might not. 4. Time consuming and costly to pursue. If the business is worth winning…...

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