Wholesale is an important sales channel for continued growth. If you’ve been selling wholesale or considered selling more wholesale you know that the sales cycle, the time it takes to close a sale, can take a long time. Sometimes too long. Let’s say you’ve got prospects in your pipeline, but they need to close for you to make your sales targets by the end of the month. How do you accelerate the wholesale pipeline?
In order to close the sales faster, you need to speed up the sales process by doing a better job in lead scoring, knowing your target customers’ interests and pain points, and building a relationship through lead nurturing.
Here are the 4 ways to speed up wholesale sales :
1. Lead Qualifying: Spend Less Time Chasing Doubtful Deals
Generate leads and evaluate them as they come in. Scoring is based on researched viability, level of interest, need for your product or service, as well as the authority to make a decision and allocate the budget. Putting qualified leads that are actually expected to move through the process will also increase your forecasting accuracy. With only quality opportunities in the pipeline you will spend less time chasing doubtful deals and more time actually working on real deals.
2. Lead Nurturing: Keep Warm Prospects Interested
Most marketers send all leads directly to sales. This practice slows down the sales process because sales pipeline tracking is difficult when unqualified leads are entered into the mix. Create a separate list of those who don’t expect to purchase in the foreseeable future. These are the clients that should be seen as leads that need to be nurtured. This speeds up the pipeline sales because it allows reps to focus on the well-qualified leads.
3. Drip Marketing: Send Warm Prospects Useful Information
When automating lead nurturing activities such as email campaigns and follow-ups, users have shown a significant increase in sales productivity. Now sales reps can spend more time concentrating on well-qualified leads. Marketing can now strategize channel email campaigns, create winning email content, and make the best use of email marketing metrics.
4. Sales Process Improvement: Customized Sales Process Closes More Deals Faster
Each step in the sales process should show incremental commitment. To define an effective sales process and gain incremental commitment, sales managers should define a customized sales process and how to discuss the process in relation to the pipeline with their front lines.
Specialty Coffee Industry Business Development Marketing