Investments made in a vacuum only increase the risks associated with them and reduce asset potential. Sales planning and cost calculation are the basis for any successfully executed plan and intended profit.
In order for any business to be able to do this well, it`s extremely important that it accurately forecast financial information and take the necessarily-appropriate decisions. To do this with greater confidence, a systematic sales pipeline is used because it not only helps in accumulating vital financial data but it also defines an entire sales process. A well-constructed sales pipeline is a step-by-step guide for salespersons to use from the opening sales pitch to a prospective customer to the final deal closing. It provides profit estimations for the future and enhances the overall sales outlook for the company. The more efficiently the sales pipeline is managed, the more likely you are to gain from increased revenue and improved client relations.
A well-planned and managed sales pipeline can help a business control its sales figures. With the advent of technology, its application in the techno-age business revolution is clearly visible. Organizations are operating more efficiently over the virtual platform and are utilizing all possible tools to the best of their abilities. One such tool is the live chat. It is a chat window that is provided on the website of all businesses where sales experts help potential customers by answering their questions and following-up on their queries. On the surface, it can seem to be just a normal conversation but if viewed from the perspective of sales and business estimation, then it is a game changer.
The points mentioned below highlight the importance of the live chat in building a great sales pipeline.
Customer Support: The purpose of customer support is to help customers with their queries, questions, and doubts. This is a confidence-building activity that helps in establishing a defining image of the business in the customer’s mind. It psychologically helps the customer because he is now satisfied that he is talking to the right person to make his voice heard and that his needs will be fulfilled. It gives the customer a sense of faith in talking to an organization where there is the help when it’s needed.
Customer Tapping and Stop Diversion: Live chats can help the sales team understand the needs of the customer and guide him accordingly. This provides conclusive evidence as to whether the customer has the potential to purchase or not. Live chats also help with effectively tapping the opportunity. This also gives an edge to the organization by protecting the lead from diverting. Once this is controlled, the organization is able to stop the lead from transferring to the competition.
Time Calculation: The live chat can contain a formatted set of questions which can be used to measure the lead’s potential and to calculate the time in which it may be converted. A successful business is all about having the right timing. The answers can then be used to solve the jigsaw puzzle, which then further strengthens the sales portfolio and planning as well as the level of aggression it can be pursued with. This also helps with managing resources in order to know what might and might not be available to the customer and when.
Risk Calculation: The set of questions can also be used to determine the overall financial health of the lead and the spending capacity of the customer. This is essentially important for organizations needing to finance their core business like banks and lending companies. This calculation is breathtaking because it is the sole measure of judgment as to whether the lead is good business or not. No organization would ever like to get its money stuck with non-performing assets. This calculation safeguards the sales team from venturing into bad terrain, saving them significant time and effort.
Post-Sales Services: A successfully completed sale does not end upon delivery. There are many other factors to consider and the most important ones arise after delivery. A customer may need post-sales assistance. This is the litmus test for the organization’s good will and the live chat feature can be of great help when such situations arise because it is one of the easiest, most convenient and economical means of supporting the customer.
Future Business Calculation: Sometimes a lead is simply an inquiry that has the potential of being converted in the future. The sales team needs to be ready for these kinds of opportunities. Live chats help in determining the prospective timeframe from when the inquiry can convert into business. Grabbing the customer and pitching at the right time can only be done if the information is available prior to planning; therefore, live chats are perfect for the task. The bonus is that content can be re-analyzed repeatedly and the customer’s pattern of doing business can be judged. Live chat also helps in understanding whether or not the lead is singular or has the potential of repetition, which helps the sales team plan accordingly.
Relationship Building: Because the live chat feature is available 24/7, the customer can be confident that he can go online at any time and the solution will be available. This helps in establishing trust, which is perhaps the basis of any successful business. The trust also helps with word-of-mouth marketing when the sales team can derive additional contacts or connections that have the ability of being converted.
The important points to note are that while forming a live chat, the representative should be responsible and have all relevant sales. The questions to be asked should be well-practiced and the representative should have sound judgment so as to know what to ask and when and how to ask it. Time is also important because the representative must also be calculative in getting the maximum answers in the least amount of time.
Sawaram Suthar