Business Development Training Resources to Upskill Your Team

Sales Process Arthur Li Sales Process Arthur Li

Use Micro-Commitments to Move Stalled Sales Pipeline

Stalled pipelines can be a common problem in sales. To overcome this, sales teams can use the technique of micro-commitment, which involves getting prospects to make small commitments along the sales journey. This builds trust and momentum, making it easier for the prospect to eventually make a larger commitment, such as a purchase.

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Sales Process Arthur Li Sales Process Arthur Li

Know Your Sales Numbers

Sales metrics can provide valuable insights into how changes to products and business models affect the market's reaction. Tracking metrics such as conversion rate, time spent from contacts to closing, contract size, and upselling opportunities. By analyzing these metrics, startups can pinpoint areas that need improvement and optimize their sales process.

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Sales Process Arthur Li Sales Process Arthur Li

BANT Framework: Build a High-Quality Pipeline

Several decades ago, IBM's top salespeople developed a system called BANT for gauging a lead's potential for conversion. Only leads that satisfy at least three of the following four conditions of Budget, Authority, Need, and Timeline should be considered a qualified-lead. BANT's strength lies in the fact that it provides salespeople with a uniform scorecard, as well as a framework within which to ask qualifying questions and collect relevant data.

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