Prepare for changes to the buying cycle

The buying cycle follows the journey that new and existing customers go through before they purchase. It can be extended to after they have purchased - this is when they should become advocates for your products or services.

The traditional cycle includes:

• Raising awareness
• Recognising possible solutions to a real or perceived problems
• Research of possible solutions
• Identification of possible suppliers
• Final shortlist
• Initial contact
• Request for solution costing
• Negotiation and specification analysis
• Purchase
• Post purchase research to confirm purchase decision

The biggest and most significant change to this cycle is the decision to purchase. 

When customers decide to buy - you have to be ready

The following changes need to be appreciated and changes made to how sales are made and managed:

1. Purchase decisions are being left to the last possible moment
2. There is an expectation that everything is negotiable
3. Estimates have to be within minutes
4. Delivery times have to be very quick
5. Price has to include everything
6. Terms have to be flexible
7. Sales staff have to knowledgable and have the ability to negotiate price
8. Credit checking has to be fast
9. Customer expectations have to exceeded at all times

Ask yourself the question - "Can the staff I employ to take and make sales deliver all of these?

If the answer is no then get training because this is an area where sales are won or lost.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net