In an increasingly connected world with much easier access to information, the challenge for sales professionals is growing. This challenge is even more acute in sales of high value-added goods and services, whether B2B or B2C.
This type of sale usually involves products or services that require a high investment and long negotiations, with a sales cycle made up of many variables and stages that can take years to complete. For this reason, they require a much more consultative approach , with a sales team that is prepared and qualified for this.
Therefore, it is necessary to have knowledge of the type of market served, training of the Sales team , strategic management and other elements that we will see throughout this article.
Shall we read?
What are complex sales?
A complex sale is one that involves a high-value commercial contract, in which several decision-makers participate.
These are generally time-consuming processes and, although it is a common type of sale in B2B negotiations, it can also occur in B2C transactions, such as real estate sales, which require time, approval from multiple decision-makers and involve a certain degree of complexity.
Unlike simple transactions, where the sales professional only assists the buyer in quick decisions on lower-value purchases, in complex sales the risks are greater.
Main characteristics of a complex sale
A complex sale, whether B2B or B2C, encompasses some elements that distinguish it from traditional sales. We have separated the main ones so that you can understand a little more about each of them:
And this happens precisely because it involves high investments, both on the part of those who sell, considering the Customer Acquisition Cost (CAC), and on the part of those who buy. Therefore, to be successful, the commercial process needs robust strategic planning.
Complex or customized solutions
Both the development and marketing of some products or services can be more complex than others.
New software for a company, for example, will probably involve projects, studies, the possibility of integration with other solutions, implementation, cost-benefit ecuador whatsapp data analysis… In short, a series of processes that end up lengthening negotiations and giving rise to objections.
Continuous monitoring and in-depth knowledge of the solution are required, with a certain degree of autonomy given to the sales executive to negotiate discounts and offer advantages, if necessary.
More than one decision maker involved in the purchase
This is one of the main characteristics of a complex sale and one of the biggest challenges for sales professionals.
A software company selling accounting solutions, for example, will likely need to get approval from the company’s accounting manager, chief financial officer (CFO), and even chief technology officer (CTO). The more decision-makers involved in the purchasing process, the longer the sales cycle will be .
Considering that the number of stakeholders and their positions within the company may vary, the sales team responsible for conducting the negotiation the importance, in the press as in marketing, of offering quality content needs to be prepared and aligned with the various types of approaches. This is where the need for consultancy and support from a specialized company comes in .
In our day-to-day work at DNA de Vendas, we see companies in the market with teams that are completely unprepared to deal with corporate clients and that end up losing big deals because they think it is unnecessary to invest in training professionals. A Complex Sale requires a different approach, considering precisely the contact with the various decision-makers that will have to interact throughout the process.
Longer average sales cycles
With more decision makers involved, complex sales end up having longer average cycles, which can take anywhere from six months to over a year, depending on the type of deal.
This is a type of sale that does not close with the approval of a decision-maker. Finance and IT may need to approve it as well. Another point: if there is a lot of andorra business directory competition in your market, the sales cycle may be longer as companies compare solutions and look for the best deal.
High average ticket
The average ticket in complex sales is usually high, precisely because the solutions offered are also more complex, whether they are products or services. In addition, the marketing and sales activities themselves need to be more elaborate, with different preparation than that provided in simple sales.
Customer risk perception
Since complex sales involve high contracting values, doubts about the purchase end up being a bottleneck in negotiations. No company wants to make the wrong decision and commit to a long, multi-year contract for something that does not meet its needs.
Therefore, it is up to sales reps to reduce hesitation about risk by ensuring transparency, adding value and educating buyers throughout the sales process.
High Customer Acquisition Cost (CAC)
In complex sales, the Cost of Acquisition (CAC) is usually higher compared to simple sales, as it requires greater commitment from the marketing and sales teams.
Whether it’s qualifying and educating the lead, or interacting with this customer throughout their purchasing journey, understanding their real needs and answering their questions regarding the solution, all of this has a cost.
The 6 Stages of a Complex Sales Cycle
Managing a complex sale can be challenging, even for the most experienced professionals, considering the set of factors that make up this negotiation environment. However, even with these peculiarities, the cycle of a complex sale follows the same steps as traditional sales cycles, which are:
0. Discovery,
1. Prospecting,
2. Qualification,
3. Diagnosis
4. Proposal,
5. Closing,
6. Delivery.
Let’s look at each of these steps to understand how your sales team can be successful with high-risk deals, developing strategies that bring greater fluidity to the process and lower risks of objections.
0. Discovery
Despite being a stage prior to the actual sale (which is why it is defined here as stage zero), this is an important phase in a complex negotiation, as it is the starting point.
At this stage the focus is on identifying potential customers who are interested in or have a need for your solution.
To do this, a market analysis is carried out , gathering company names and lists of possible decision-makers, influencers, solutions that this potential client already uses, in addition to a series of additional information depending on what your company sells.
LinkedIn has proven to be a great research tool, facilitating the discovery process. Premium Insights, for example, allows you to collect information such as:
- Number of employees – this data informs the size of the company, how much it has grown, the educational institutions where people are trained, among other analyses;
- Positions – this information helps to carry out more assertive approaches;
- Total job vacancies – this data shows whether the company is in the process of expansion.
In addition to LinkedIn, there are other channels and research methods that can enrich your knowledge about the clients you intend to prospect. Some good examples are:
- Cortex
- Econodata
- Intexfy
Extra: If you want to find out what tools your potential client uses on their website, you can type their domain into this tool: https://builtwith.com/ . This information can bring you great insights!
In addition, there are dozens of tools capable of bringing information from public data, which are very useful for your prospecting.
1. Prospecting
Once you have identified your potential customers, it is time to prospect them. This is where the sales process actually begins. The main objective of prospecting is to spark the interest and attention of prospects in order to present your company’s value proposition.
Prospecting is one of the main challenges for most companies that make complex sales. This is because both decision-makers and influencers are busy people who do not respond easily to automated approaches.
In other words, this type of client requires customized and intelligent prospecting, requiring the Sales professional to prepare in advance, with quality information about the prospect .
This first stage is where the contact survey takes place, obtained through research and analysis (previous stage). This survey, with all the useful information for correctly identifying the contact within the company that will be approached, is of utmost importance for the next stages.
Prospecting can be done by an Inside Sales team or by the sales executive himself, with a pre-qualification script, with the aim of knowing who is who in the organization and, if possible, who has the decision-making and purchasing power.
2. Qualification
Qualification is a stage in which the professional determines whether the client has a need that can be met by your company’s product and/or solution. However, there is a point of care and attention here, because often the prospect himself does not know that he has that need.
Therefore, a good prospecting professional not only validates the need, but makes it explicit to the potential client, showing a reality that they had not yet seen.
At this stage, you need to show the prospect that they have a need/pain and that this pain is urgent. Qualification is where you define whether a potential customer is suitable for your solutions. This qualification can be structured with BANT , an acronym imported from the English words:
- Budget: Does your prospect have the budget to purchase your solution?
- Authority: Who has the final decision-making power to authorize the purchase?
- Needs: What company pain points does your solution solve?
- Timeline: When does your prospect want to buy?
A prospect is considered qualified when they meet at least three of these criteria.
Find out more: BANT: what it is, how to use it and how to sell more with this technique
The qualification process can be done by an SDR , which will require the Sales Executive to expand knowledge about the customer’s scenario and everything that influences the purchase of their value proposition (product/service).
When the qualification process is carried out by the executive himself, he usually leaves this qualification with a diagnosis of the client’s scenario. However, when the sale is very complex, it will require a more in-depth diagnosis.
3. Diagnosis
The diagnostic stage serves to validate qualification information and deepen and/or expand the Sales professional’s knowledge about the scenario and challenges that the prospect faces.
For DNA, this is the big secret of the best salespeople: they know how to make in-depth diagnoses, without it seeming like a big “interrogation”.
This requirements survey for building a proposal requires a more technical phase, which often requires:
- More than one meeting;
- A technical visit;
- Presence of a technical professional to gather information, in order to have greater precision in the construction of the proposal.
But what is the biggest challenge at this stage? A good diagnosis requires in-depth knowledge of the client’s business, especially their area of expertise. As a sales professional, you need to understand the client’s business, niche, and variables that influence their operations. Otherwise, you won’t be able to gain depth in your diagnosis.
4. Proposal
The proposal stage is where you present your offering and describe how it will help your prospects address their biggest challenges. The key at this stage is to have a good diagnosis and get the scope right.
And this is where most sales executives make mistakes: in scope. They present proposals that add no value when considering the client’s scope. So, pay attention to this point!
Focus on value-based topics, show how your solution can positively impact business, and present success stories. These value-based approaches are what guide the customer to the next steps.
Since this is a complex sale, with multiple decision-makers involved, tailor your proposal based on these contacts, showing how your solution can solve their problems and give you an edge over your competitors.
The potential risks that may be pointed out by the client must also be considered. Therefore, it is important to complement your proposal with case studies and detailed examples of how your solution has helped other companies reduce these risks.
5. Closing
The closing stage is the moment just before the finish line. So, you can’t relax at this stage and call it a done deal. There’s a deal to be closed and a contract to be signed.
It is important that, before this stage, the value of your solution has been clearly communicated and that there are no doubts. If this has been done, the closing should happen naturally.
But it may also be that customers need an extra push to keep business moving.
There are some sales closing questions that can be asked correctly to maintain business momentum, such as:
- Until when can we execute the agreement?
- Do you have any questions regarding the proposal?
- Has there been any change since we last spoke?
If customers ask more questions, that’s a good sign, especially if they’re related to implementation, pricing, and contract details.
6. Delivery
The way you guide your customer to this final stage will depend on the type of sale made and what both parties have agreed upon.
In most cases, an account manager will take over the deal and provide appropriate after-sales support, ensuring the customer gets added value from their solution.
What to do to optimize a complex sales cycle?
As we have seen, complex sales involve more expensive solutions and higher CAC. Therefore, since it is a high investment for both parties, it needs to be worth it, optimizing the sales cycle.
The entire sales process needs to be handled with care, from end to end. Your sales strategy should plan every stage of the sales cycle, before, during and after, with time as a key factor, until the deal is closed.
To avoid bottlenecks in the process of a complex sale, we present some tips on how your company can optimize this cycle:
Learn more: Sales cycle: how to reduce it with strategy and close deals faster
Understand your prospect’s challenges
Suppliers must understand the customer’s problem or need. Study, ask questions, listen to the customer, and be able to answer their questions. The customer must feel that you see them as someone you want to help solve a problem.
Analyze the needs that your solution will meet
Demonstrate knowledge about the solution and how it can meet the customer’s needs. This is done by:
- Knowing the reality of the client’s company;
- Learning about your client’s business and its main challenges;
- Knowing exactly how your solution(s) can solve your problem
Define the opportunity
Establish what you are going to sell and who your buyers will be, knowing as much as possible about them. The more you learn about your potential customers, the more resources you will have to create business opportunities.
This definition will help you craft messages that will have the greatest impact on this customer and the ways in which they can reach them:
- In Market events with the appropriate focus;
- Through Field Marketing actions;
- Through Inbound Marketing actions, providing valuable content.
Selling complex products and services can be challenging for even the most experienced salespeople. That’s why it’s essential to understand how complex sales work to be successful in this area.
Examples of complex sales in challenging markets
These are cases where, for the most part, there are many variables at play and the commercial process can be time-consuming and complicated. We highlight three industrial segments that fit this situation:
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- Pharmaceuticals : The sale of pharmaceutical products is generally subject to strict regulation and can involve lengthy negotiations between buyers and sellers, with many requirements, specifications and guarantees in the contract.
- Construction: In the construction industry, projects can be large and expensive, and the sales process generally involves robust coordination between multiple parties.
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>Enterprise software: Enterprise software is often very expensive, making it difficult to sell, and is also rich in complex features, making it difficult to de
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- monstrate and exp
lain to customers. In addition, the enterprise software market is often highly competitive, making it difficult to stand out.
- Complex solutions : Some examples of complex sales
- are: sale of gases for various applications in industry and/or hospitals; energy solutions for cities or factory plants.
The greater the challenge, the greater the team’s efforts and preparation must be.