6 Ways to Shorten the B2B Sales Cycle with Proven Strategies

The average B2B sales cycle today is approximately 4 months. The longer this cycle, the higher the chances of businesses losing a prospect. But what if you could accelerate your sales process and in turn reduce costs and maximize profits?

In this post, you will find actionable tips to help you reduce your sales cycle as much as possible without putting in extra hours. 

6 Tried-and-Tested Ways To Shorten The Sales Cycle 

Every interaction with your prospect counts when it comes to sales cycle lengths and deal closures. 

Implementing effective strategies to shorten the sales cycle can significantly impact your conversion rates and overall sales success. 

Let’s take a look at 6 tried-and-tested strategies to shorten your sales cycles with minimal effort.

1. Make Use of AI-Driven Sales Enablement Solutions

Advancements in AI have altered the manner in which sales are done. According to a report, 79% of the sales teams in the research use AI in their daily operations or intend to. There is a paradigm shift in the sales practices of companies in that particular industry.

Tools like Docket are helping boost sales productivity. Docket is a AI Sales Engineer and assistant that learns from tribal knowledge by integrating with your disparate knowledge sources. It uses multiple AI models to retrieve, verify, and deliver answers to help sales reps close deals faster.

Docket integrates with an approved Slack channel, a meeting assistant like Zoom, or a web browser. Your sales, GTM, or support agent can ping a customer/prospect query to Docket within the channel and get a verified response in 5 to 10 seconds 24/7, like so:

There are several ways Docket, an AI sales enablement tool, can help you improve the overall sales environment:

• Instant, accurate responses: Docket retrieves answers to client questions in 5-10 seconds which can be done at any time of the day, and offers competent information. This response time enables them to keep the prospects and even hastens the closing of the deals.
• Advanced knowledge: Docket can learn from many data sources such as Slack, Google Drive documents, recorded meetings, PDFs, and CRMs. This saves time and ensures that correct information is conveyed at all points of the customer journey.
• RFP and RFI response: Traditionally it takes up to six weeks to respond to RFPs (Requests for Proposal) or RFIs (Request for Information). Docket streamlines this process by instantly reading these documents and drafting responses based on past references and input from subject matter experts.
• Analytics: Docket's dashboard allows you to track the most frequently asked questions, identify knowledge gaps, and recognize top contributors. These insights help refine your sales strategy and improve team performance.
• Identification of trends: Docket analyzes the feedback of many of its new clients in search of common prospect objections, discussion topics, deal blockers, and recurring pain points. This information is crucial for prioritizing support efforts and training sales teams.

Read more about How Docket AI Can Transform Your Sales Process: The Virtual Sales Engineer.

2. Explore Prospect Objections Proactively

Generic responses to objections rarely move deals forward. Instead, skilled sales reps dig deeper to uncover the root causes behind prospect concerns.

For instance, if a prospect says they do not have enough time for your solution, do not rush and explain how easy and quick it is to set up your solution. Ask first:

• “What takes most of your time during the day?”
• “How is your current way of working assisting your team?”

These questions may show that a prospect is time-stressed not due to lack of time, but because there is not enough staff, for instance.

Through addressing objections lodged in this manner, you:

1. Understand the obstacles the prospect is facing with their business
2. Avoid addressing irrelevant concerns
3. Tailor your pitch to their specific needs
4. Build trust by showing genuine interest in their situation

This info will give you the ability to propose a solution that will be a targeted remedy to their actual pain points, rather than a generic fix. It shows your dedication to their business and makes you not only a salesman with a target but a partner who is solving the challenges.

3. Facilitate Hassle-Free Signing Of Contracts On Any Device With Ease

In the United States alone, 63% of all online traffic came from smartphones and tablet devices (“Mobile vs. desktop usage," n.d.)

Today’s digital world is all about the user’s convenience. The vast majority of people are never without their smartphones or tablets. Smart sales teams take advantage of this fact to speed up the signing of contracts.

But why is it important to have mobile contracts for clients in the first place:

1. Reachability: Potential clients can check documents and sign them at any time and from any place.
2. Convenience: Matches modern buyers' expectations for quick, digital interactions.
3. Lower barrier to purchase: Helps more prospects agree to something at that moment in time.

Implement these strategies:

• Use tools that provide flexible e-signatures reasonably usable with different operating systems and devices.
• Make sure the content of the contracts is easy to skim through and read even on smaller devices.
• Include several signing methods (touch, type, draw) as means of signing.

Remember, the more steps there are in the signing process, the more chances the prospect will have to rethink or postpone things. By embracing mobile-friendly contracts, you're not just keeping up with buyer behavior – you're actively shortening your sales cycle and increasing the likelihood of closing deals quickly.

4. Implement Incremental Closes

Incremental closes are a powerful technique to accelerate the buying process and prime prospects for the final purchase. This strategy involves securing a series of small commitments throughout the sales journey.

Benefits of incremental closes:

1. Deepens buyer investment in the deal
2. Establishes a pattern of positive responses
3. Gathers valuable information along the way
4. Builds momentum toward the final close

How to use incremental closes effectively:

1. The first step is to plan: In every step, think of the small things that you can request for
2. Ensure this is a win-win: As much as you are asking, there should be some value added on each part. So focus on the prospects’ benefits too.
3. Escalate gradually: Increase the significance of requests as trust grows

Examples of incremental closes:

• After initial contact: Ask them to provide their cell phone number so that communication is easier
• Post-demo: Ask to be connected to the individuals who can provide the budget to support the given initiative
• Mid-cycle: Propose a meeting with their procurement team

Collectively obtaining such ‘yeses’ is a guarantee of a pipeline towards the final ‘yes’. This approach encourages experts to think from the perspective of its target at every stage of the process making it easier to help in the last step.

Keep in mind that all such incremental closes must be very natural and correspond to the given sales stage. Used properly, this technique can significantly reduce your sales cycle as it develops a well structured and well reasoned case towards the closing of the sale.

5. Better Sales and Marketing Collaboration

First of all, sales and marketing alignment is a vital factor for shortening sales cycles. When these teams work in silos, the entire company suffers. 

Did you know sales and marketing misalignment costs businesses $1 trillion each year in decreased sales productivity and wasted marketing efforts? Research shows that sales and marketing alignment can help companies become 67% better at closing deals.

Steps that will assist in achieving better close consistency are:

1. Work together to develop buyer personas and map the journey.
2. Produce content that is appropriate for each step of the sales funnel.
3. Set common goals and targets.

When dealing with marketing and sales collaboration, finding a balance between education and promotion is very important:

1. Begin with thought leadership: Create brand awareness and credibility using educational content.
2. Tailor offerings to buyer readiness: Avoid pushing too hard, too soon
3. Provide content across the funnel: Give useful and appropriate content in each stage within the funnel.

To execute this, you need to generate content. The most beneficial content strategy should be:

1. Create content that informs and puts your solution in the limelight.
2. Manage your content to the stage of the sales cycle the prospects are at
3. As the leads advance, increase the amount of product-related content gradually.

Marketing and selling are like two pieces of machinery that can easily go wrong if they are not synchronized, yet when they are, it makes the journey of the buyer as smooth as possible. 

6. Be Transparent About Pricing Early

Win rates are highest when sellers discuss pricing on the first call — 10% higher.

‍

Clarity on pricing is important in reducing the sales cycle. Withholding costs or disclosing charges at later stages usually backfires, prolonging and frustrating the deals instead.

Key benefits of early pricing disclosure:

1. Gains credibility: Prospective customers appreciate it when they are told the truth from the very beginning
2. Reduces the chances of lost sales: Allows clients to easily decide if your solution is within their financial range
3. Alleviates concerns: Avoids shocks that may arise due to pricing that was not agreed upon with the customer at the last minute
4. Reduces frustration: Saves time that may be spent to explain the pricing at a later stage of the negotiation process

Pricing transparency tips:

1. Include all pricing at the beginning: State all charges as well as extras that may be charged
2. Explain value clearly: Convince of the cost by stating the advantages that will be derived
3. Give them choices: If it is relevant use one or more pricing structures
4. Be prepared: Anticipate and address common pricing objections early

Remember, people dislike unexpected costs.  When there’s upfront pricing, you:

• Provide better outcomes
• Instil faith in your product
• Reduce time taken for lead conversion

Avoid the temptation to soften the initial impact by hiding fees. Instead, focus on clearly communicating what prospects will get for their investment. This type of selling not only reduces the amount needed in the selling process but also builds trust in the relationship of the client and the seller.

Tip: If you know why your pricing is high, it may be best to develop simple pricing guides or pricing calculators where clients are likely to agree to the money as fast as possible.

Conclusion 

Accelerating your sales journey isn't just about closing deals faster—it's about gaining a competitive edge. In today's fast-paced markets, the ability to shorten your sales cycle can be the difference between leading the pack and falling behind.

By implementing the strategies outlined in this post, you can streamline your sales process and close deals more efficiently. But why stop there?

Take your sales acceleration to the next level with Docket, an AI-powered sales enablement tool. Docket acts as your AI Sales Engineer, providing instant, accurate responses to customer queries, automating RFP processes, and uncovering valuable sales insights.

Book a demo today!

‍