Harvard Business School: What MBAs Don’t Know about Sales Timing

As managers who are systematically trained in business management, MBAs frequently have little or no experience with working or managing a sales process. One of the most important issues in working a sales process is the notion of timing. Selecting the proper timing can make or break success in the stages of any sales process. Consider these brief but timeless rules of thumb for timing the sales process (McCormack, 1984):

• Present again to a potential customer who once rejected your offer, even if you have to wait five years.
• Use common sense about timing the sales cycle—a buyer who is unfamiliar with your product will require time and attention to initiate the sales process.
• Listen to the buyer to understand timing cues—control the sale by structuring it around natural timing events perceived by the customer.
• Don’t skip steps in a well-understood sales process—take your time and avoid the temptation for instant gratification.
• Be patient and allow people to move through the steps of the sales process.
• Be persistent in presenting your product and offer to high quality prospects instead of a large number of prospects.
• Renew the contract when the buyer is happiest—ask for money when times are the best as possible for the client.
• Consider multiple futures that might be better or worse relative to the deal you offer the client.
• Impending doom or the setting of the sun are motivating factors in any sales process—there is no better time to close the deal than when the client has to make a decision.
• Seasonal and cyclical events external to the sales process can be a motivating factor—tempus fugit (i.e., time flies) and externalities affecting the client are often timed with the calendar.
• Best decision makers are often someone who is coming into or going out of the decision making position.
• Claim credit for considerate timing of sales process—let the client know you are intentionally being considerate of their schedule.
• Use inconsiderate timing judiciously—contact the client at inconvenient times if the matter is very important by letting them know why it is important.
• Avoid giving the buyer deadlines that are later subject to revision—contrived deadlines such as special pricing can backfire if the deadline is extended.
• Explain deadlines that seem threatening—inform the buyer of why the deadline is important to their interests.
• Get to the point quickly in sales presentations and conversations, especially when dealing with busy buyers.
• Convey important points early in your presentation in case you run out of time.
• Always use less time in presentations than you ask for—ask for more than you need because brevity is the better part of valor.

Reference

McCormack, M.H. (1984). What they don’t teach you at Harvard Business School: Notes from a street-smart executive. New York: Bantam Books.