The Learning Management System (LMS) sales cycle can take anywhere from a couple of weeks, to months, to years. According to the sales specialists we meet in the market, eight months is the standard cycle length we hear. According to a current report by Demand Gen, sales cycles have actually gotten longer as the number of decision-makers in the B2B buying process has grown. Additionally, buyers are spending more time doing their own research before buying, which means less time talking with salespeople, but the same length of the sales cycle.
Here are some great strategies for reducing the Learning Management System sales cycle:
Your potential customers go through various phases of the Buyer’s Journey. Because of this, you need to make sure that your sales content is lined up with their corresponding phase. This will make it easier to inform them, move them to the next phase, and convert them into satisfied customers.
Awareness Phase: At the start of the sales process, your leads don’t know exactly what they need. This is called the “Awareness Phase” of the buyer’s journey where potential customers try to identify their troubles that need to be resolved and figure out what they need. As a result, before you schedule a sales meeting, make sure to supply them with informational content that solves their issues. This could be anything from a blog, infographic, whitepaper, or even ebook. As you help them determine their troubles, you could also determine whether you Learning Management System product or service will best meet their needs. Doing so will help you concentrate on the leads who will actually benefit from your product.
Consideration Phase: In this phase, potential customers recognize their obstacle and have made the decision to solve it. They are thinking about various alternatives to fix their issues. You need to have content that places you as an authority in your market and outlines various services for your prospect. Whitepapers, webinars, case studies, and overviews are useful for persuading potential customers to purchase from you and not your competition. Make sure to not talk about any of your Learning Management System company’s remedies yet. Your content should instead concentrate on informing your potential customers and helping them address their needs. An example of Consideration Phase content is BuzzSumo’s specialist webinar collection where potential customers can get suggestions, methods, and ideas from content marketing masters.
Decision Phase: Now, your leads have identified which way they want to go to meet their needs. They are currently comparing the pros and cons of various offers from different Learning Management System companies and trying to determine which will work best for them. Content like video demos, comparison charts, trial offers, and item summaries will help at this phase. You can also leverage content using industry-specific case studies, blog write-ups that show how your Learning Management Systems solutions beat those of your competition, and calculators showing the return on investment of your services.
According to the Salesforce State of Marketing report (2017 ), 67% of marketing and sales leaders use automation software applications. It also found that over the next two years, an additional 21% will start using this type of software. You could reduce your sales cycle considerably by automating your initiatives. For example, instead of manually posting social media messages and Lead Nurturing Emails, you could use automation software to do it for you. The content included in your automated emails and social media posts will help you nurture your potential customers over time and will make it easier to convert them into clients. Automating your sales process will not just reduce the sales cycle but will also reduce your cost per leads. Additionally, automation will help free up some time to let you focus on other parts of your job as a busy sales rep.
Prospects will definitely want to know the cost of your service or product. If your Learning Management System software application is competitively priced, you could include a “Request a Quote” button on your website. This could help you start the conversation to find out the prospect’s needs before you give them the cost, and then show them the value of your offer. This helps you be receptive to their needs and engaged with those in the Decision phase of the Buyer’s Journey. It will also shorten the sales cycle.
Blogs, social media posts, whitepapers, case studies, and reports are great ways to get in touch with your potential customers throughout the sales process. However, as an active salesperson, you want to shorten the sales cycle, and calling your leads to offer help can do just that. Calls allow you to create a more personal connection with your potential customer. They also allow you the chance to answer any questions or concerns. The Marketing Donut found that 80% of sales need at least five subsequent phone calls to satisfy the prospect. Make sure the objective of your call is not just to make the sale. Instead, use them to inform the prospect of your value. Because of this, a call can be effective in any phase of the Buyer’s Journey.
Learning Management System (LMS) sales cycles can be very long, and it’s important to reduce the cycle for every prospect on your list. The ideas laid out above are part of the Inbound Sales Methodology, and can help you plan your strategy throughout the sales process in a way that will make both you and your leads feel great and meet their needs through the whole journey.
But, this is a lot of work to do alone. We at Responsify work with Learning Management System (LMS) sales and business development pros to offer strategy, support, and help in applying these tasks. By collaborating, we help marketing and salespeople tactically draw in brand-new website visitors, convert them to qualified leads, and speed up the closing process.
We’ve helped many gifted salespeople weave the Inbound Methodology right into their detailed sales process. Don’t hesitate to schedule your complimentary strategy session to help you assess your processes and reduce your sales cycle!