3 Proven Steps to Reduce Your Prospect’s Buying Cycle

Reduce Your Prospects Buying Cycle

While beginning a morning training session, I posed a simple question to get the juices flowing:

What can you do to reduce your prospect’s buying cycle?

Hands shot up across the conference room immediately. After writing their responses on the white board, the number one answer was ‘better prospect qualification’. That was simple enough. My next question was ‘how’? This is where the fun began. I say fun, because what they offered was real life experience that is working. I would like to pass this along to you.

Let’s refer to these as 3 Proven Steps to Reduce Your Prospects Buying Cycle

  1. Qualify ruthlessly – why are they looking to change suppliers, when are they looking to change, what are their requirements and expectations, what are they looking to improve upon?
  2. Refuse to become a vending machine – the explanation here is often buyers will feed you their time, press your button, and expect a full compliment of your solutions. Provide information only if a strong reason is provided.
  3. Measure progress, document results, share frequently – in completing this step you will know what they are trying to accomplish. Create a matrix that measures each objective, and share it in acceptable intervals throughout the buying cycle.

So as you can see, the reduction of the buying cycle is done on the front end and also throughout the buying process.

Your qualified prospects often lead to solid customer relationships. In no way should a buying experience become a competition between you and your prospect. However, your time and resources are valuable. Using the above criteria will place you in a position of strength in developing your pipeline of qualified prospects.

To your success,
Andy

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