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If your sales are complex and your sales process is basic, something needs to be fixed with that equation.
Determining the complexity of your sales is the first step in defining the right sales process for your company. But first, it would be best to start by addressing the concept of “complex sales”. What are complex sales and what are they based on?
Complex sales are characterized by having 1) a high level of involvement and risk perception, a consequence of the high cost of acquisition, 2) a long sales cycle, exceeding 2 months and 3) several participants in the decision-making process.
If you have a product or service with a high cost, you certainly recognize these 3 characteristics. I am talking, for example, about software development companies, advanced technological products, industrial machinery, business intelligence services, or other companies whose offer represents a large investment with long-lasting effects for the customer.
These sales become complex for logical reasons. First, the public for these solutions is necessarily companies of a significant size – the only ones capable of bearing the cost and in need of making a large investment.
As the investment is significant, the perception of risk is more excellent. Making a wrong decision at this level can cost a company thousands of euros. Therefore, it is understandable that the client wants to study your proposal in depth, know in depth the benefits of your solution, and compare it with that of other companies. This negotiation process can take months.
Another thing that lengthens the sales cycle is the number of stakeholders involved. These companies have several stakeholders with decision-making power and it is unlikely that it will go through a single manager or the CEO.
Instead, you have to deal with the financial decision-makers who assess the conditions for the investment, the technicians who give the endorsement on the adequacy of the solution, and other internal influencers capable of derailing or moving the negotiation.
Altogether, they are a handful of people your sales reps have to communicate with and convince, sometimes indirectly, so it’s no wonder that your sales reps take several months to close the sale.
It has already become clear that complex sales are the opposite of those low-involvement sales in the B2C market, where a consumer makes a purchase decision, alone, within the space of 30 minutes. Incidentally, even in B2B, there are sales with little implication, for example, when a startup decides to try social media management software for a few months.
What does this knowledge bring back to your company? We have to refer back to the importance of creating a sales process. In complex B2B sales, you must establish a sales process that helps sales reps motivate different decision-makers by highlighting the benefits to the pain points right. In addition, a good sales process allows you to replicate good practices that improve the approach and help to reduce the risks of a bad decision, both for you and your client… which is the last thing you want after months of investing in this business.