A Typical Sales Cycle Research Assignment Paper

A typical sales cycle
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The running of a business requires among others, a robust and well-managed sales cycle to ensure a business’ health. A sale cycle is a predictable, systematic approach that enterprises undertake in selling their products and services Businesses apply the below sales cycle.
The first step is prospecting whereby a business searches for new customers that become the target of a sale. It focuses on determining the type of prospective clients a sales team requires, where to find them and the method of approach to use to attract them. A business then develops their profile that resonates with the potential client and generates a marketing plan. The second step is initiating contact. A business utilizes the information obtained during prospecting to institute communication and build relationships with potential clients. The approach a sales team use predicate their success thus; methods such as telephone calls, email, social media, and face-to-face meetings are used.
The third step of identifying needs allows a sales team to determine whether they understand and can confidently meet the needs of a client. A sales representative, therefore, seeks to understand whom the client is by asking numerous questions as a way of building confidence and develop measures to solve the problems while allowing the client to think of all their needs. The fourth step of presenting an offer is the core of the cycle. Sales representatives present demonstrations that offer a specific solution to a client’s problems reached upon through the information collected from the previous steps. The sales representative also gets to bring in the role their business is to play in resolving the client’s problems.
The next step is on managing objections. In the process of selling to a client, a business receives various objections some of which, repeatedly. Here, a comp...