Experts say that a 10-percent reduction in your sales cycle can increase productivity by 25 percent. But there’s one way to get an even better return on your time!
When you get referrals to the Ideal Clients you really want, you increase your close rate and decrease the costs involved in making sales. These are the hard numbers and bottom-line results your boss, executives, and investors love.
More Isn’t Always Better
Many traditionalists say the key to achieving greater sales is getting as many prospects as possible into the top of the funnel. Just fill it up and let gravity take care of the rest. Activity, activity, activity!
I say filling the funnel with lots of leads that will never pan out is just a lot of busywork and wasted time. While sales velocity is important, I’m a big believer in working smarter, not harder. And I happen to know that it’s possible to generate more customers with fewer, heartier leads.
What really drives sales is getting the “right people” into the funnel, nurturing those prospects, and increasing their velocity through the sales process. These “right people” are our Ideal Clients.
Quality Trumps Quantity
Working with our Ideal Clients dramatically decreases our sales cycles and increases profits, because they:
- Spend more;
- Don’t quibble on price;
- Collaborate for results; and
- Refer us to other Ideal Clients.
Even better, working with them is actually enjoyable, because they value what we offer, communicate well, are forward thinking and reasonable, have a good sense of humor, and commit the time, money, and resources to make our projects successful.
Perhaps more importantly, we understand their businesses and the way they buy, and we can deliver exactly what they need to accelerate their sales cycles.
Why would you want to clog up your sales funnel with anyone else?
Who’s Your Ideal Client?
How do you locate these Ideal Clients? Create a clear, succinct profile of your Ideal Client so that you recognize perfect opportunities when they arise. Keep in mind that the more specific you are, the easier it will be for those in your Referral Network to send the right people your way.
More Business in Less Time
When you’re referred to your Ideal Clients, your:
- Sales funnel gets filled with only qualified prospects;
- Sales-cycle time collapses;
- Sales costs decrease; and
- Revenue and profits increase.
Plus, you only work with the kind of clients you want, and they’ll refer you to others just like them. What an irresistible proposition!
Is your sales team actively pursuing prospects who probably won’t buy or who will be terrible, resource-draining clients? Share your horror stories and/or your Ideal Client stories here.