The Seven-steps to a Successful Sales Process

The seven steps of the sales paradigm were first mentioned in a 1920s training book by The System Company entitled "How to Increase Your Sales".  Over the past 100 years there have been many attempts to put a modern twist on selling, but the same seven-step selling process still applies today whether a business is selling a product or a service. These include:

Step 1: Prospecting
Any potential buyer can be considered a lead. Researching and qualifying the lead can help to determine which are true prospects. A prospect is someone who may see value in your offering and is more likely to buy. Prospects can be ranked for importance based on criteria such as the deal size or the immediacy of their purchase. A salesperson must then prioritize their time and focus on those prospects that are most likely to purchase.

Step 2: Preparation
The next step is preparing for the initial contact with a potential customer. Every prospect is unique and a great salesperson will take the time to thoroughly research every prospect in an effort to understand their background, interests, needs, and preferences. Fortunately, this process has become relatively straightforward with the adoption of the Internet. Today, it is easy to gather information by searching the person online or by reviewing a company’s website. Develop a sales presentation that is tailored specifically to the potential client’s needs.

Step 3: Approach
The approach stage of selling occurs when the salesperson makes the first contact with the prospect.  This may include a cold call, an email, over the phone or through a pre-arranged, face-to-face meeting. The goal is to interact with the prospect to build both rapport and customer trust. 

Step 4: Presentation
The salesperson will be ready to present a solution to the prospect when there is a solid understanding of the customer. The presentation will address the specific needs of the prospect and will explain how the solution fits that need. The focus will be on the benefits of the product or service rather than the features. The presentation may entail a PowerPoint presentation, a review of printed sales materials or a hands-on demonstration of the product.

Step 5: Overcoming Objections
Rarely will a prospect agree to purchase immediately upon completion of the presentation. They will have questions, concerns, or objections. View these objections as an opportunity to learn more about the prospect. There are three steps to overcoming an objection. First, repeat the objection to confirm that you were listening and clearly understand the exact concern. Next, solve the problem. If the objection is regarding price, break down the numbers and either justify the price point or offer a more cost-effective solution. If the objection is regarding the product itself, highlight the features of the product which address the concern. Lastly, confirm that you have alleviated the concern.

Step 6:  Closing the Sale
Sometimes the most important and challenging of all the steps of selling is closing the sale. This is where you ask your customer if they’re ready to make the purchase and start processing the transaction. If your work in the other steps of the selling process have been successful, the customer should now be convinced to buy from you.

Step 7: Follow-up
Following up with the customer after the sale has been completed is an important part of assuring customer satisfaction and retention. Maintaining customer relationships can lead to repeat business, testimonials, and referrals. A follow-up may be as simple as calling the customer to ensure that the product or service was delivered on time or that the product was received in good condition. A thank you card or a small token of appreciation could also be sent to thank the customer for placing their trust in you. Retaining existing customers is six to seven times less costly than acquiring new ones.  

Once you understand the basic seven steps of the sale process you can tailor them to your own product and customer base. Whatever is being sold, the steps must be adhered to in the proper sequence.  Identify the target customer by comparing your offering to the pain point that they are experiencing.  Learn about the buyer’s specific goals and needs. Make contact with the prospect and explain how your offering is truly a solution for the given problem. Demonstrate how the product makes their life easier.  Be prepared to handle any objections presented by clarifying the concern and identifying the specific benefits that will result in a solution to the customer. Then, ask for the order. And don’t forget to follow up with the customer after the transaction is complete.