Selling Process - Meaning, Importance, Steps & Example
What is Selling Process?
The selling process is the series of steps followed by a salesperson while selling a product. Selling Process is a complete cycle which starts from identifying the customers to closing the deal with them. It is more relevant is B2B business sales where the sales cycle is not short and might take a longer duration to close. In B2C the selling process may be transient and shorter.
Importance of Selling Process
A business needs to follow and observe the selling process as customers would follow this regardless of the product or service. It may be shorter or quite elaborate but selling process would be followed. The 7 steps of selling process are listed below. It becomes very important to understand each step where the customer might be at during a sales process. In B2B it becomes more important as each step would take its own time, inputs, deliverables and data to move on to the next step. The sales person should be prepared for the next step so that they can help customer go through the process smoothly to reach the closing stage. If there is a lag or issue at any of the initial steps e.g. presentation or approach, customer might lose interest or move on to a competitor. In large deals and proposal, each and every step is like a win to ensure that the deal is converted. in B2C scenario, each step may be smaller and happen at the same moment. e.g. while buying a mobile, a customer might check the different options, see the demo, ask some queries and finally buy the product in the same session.
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7 Selling Process Steps
The process of selling a product covers various steps like prospecting, pre-approach, approach, presentation, handling objections, closing & follow-up with customers. The 7 steps of selling process are explained below in detail:
1. Prospecting
The first step in selling process in which potential customers are identified by the salesperson is called prospecting.
2. Pre-approach
The stage where the salesperson collects information about the potential customers and understands them before making the sales call is called pre-approach.
3. Approach
Approach is the step where the salesperson actually meets the customer for the first time.
4. Presentation
The step wherein the salesperson talks about how the product will satisfy the customer’s needs and add value to his/her life is called presentation.
This step in selling process can include a demonstration of the product features as well.
5. Handling Objections
In this step, the salesperson clarifies all the doubts and questions that the customer has and eliminates all his objections to buying the product.
6. Closing
The step in which the customer is asked to place and order for the product is called closing.
7. Follow-Up
This is the final step in the selling process where the salesperson follows up with the customers to ensure satisfaction and builds the relationship in order to repeat business with them.
Example of Selling Process
Let us assume a newly open gym in a posh locality to understand the selling process steps. The gym owners will first search for prospects who can afford the gym fees and are in need of accessing a gym with facilities. The pre-approach & approach stages would be when the owners of the gym would market the brand through leaflets, brochures etc. This would entice the people to give a call and arrange for a visit to the gym. Here the gym amenities, facilities, instructors etc. would be shown, which would be a part of the presentation and demonstration. The queries regarding fees, trainers, equipment etc. would be handling the objections of the prospect. Once a person is satisfied, they would be willing to join the gym by paying the fees & hence that would be closing the deal in the selling process. Follow-up would ensure that the customer keeps on attending the gym in the future as well.
Hence, this concludes the definition of Selling Process along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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