Discuss in brief the steps of sales process.

1. Prospecting

The first of the seven steps in the sales process is prospecting. In this stage, you find potential customers and determine whether they have a need for your product or service-and whether they can afford what you offer. Evaluating whether the customers need your product or service and can afford it is known as qualifying.

Keep in mind that, in modern sales, it’s not enough to find one prospect at a company: There are an average of 6.8 customer stakeholders involved in a typical purchase, so you’ll want to practice multithreading, or connecting with multiple decision-makers on the purchasing side. Account maps are an effective way of identifying these buyers.

2. Preparation : The second stage has you in preparation for initial contact with a potential customer, researching the market and collecting all relevant information regarding your product or service. At this point, you develop your sales presentation and tailor it to your potential client’s particular needs.

3. Approach : In the approach stage, you make first contact with your client. Sometimes this is a face-to-face meeting, sometimes it’s over the phone.

There are three common approach methods.

Premium approach: Presenting your potential client with a gift at the beginning of your interaction

Question approach: Asking a question to get the prospect interested

Product approach: Giving the prospect a sample or a free trial to review and evaluate your service. Dive deeper into the various sales approaches you can use to start a relationship off on the right foot.

4.Presentation: In the presentation phase, you actively demonstrate how your product or service meets the needs of your potential customer. The word presentation implies using Power Point and giving a salesy spiel, but it doesn’t always have to be that way-you should actively listen to your customer’s needs and then act and react accordingly.

5. Handling objections: Perhaps the most underrated of the seven steps of a sales process is handling objections. This is where you listen to your prospect’s concerns and address them

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