A sales cycle is the length of time it takes a consumer to go from awareness (of a product or service or seller) to purchase.
A sales cycle is measured in two ways. We can measure a sales cycle individually (it took me three months to buy a coat). And we can measure a sales cycle as an average (it takes the average person four years to buy a hot tub).
Measuring sales cycles is always an inexact science because for most businesses, it’s hard to put the date of awareness on a calendar. But it’s good to have a basic idea of how sales cycles work – both on the individual level and on the average level – so you can manage expectations in your business.
So today, I’m going to teach you a little bit about sales cycles, give you 5 real-life examples from my coaching practice this week, and give you a few things to watch out for moving forward.
I will also show you pictures of kittens, because visual aids assist in information retention. We’ll start with this one.