UNDERSTANDING YOUR CLIENTS BUYING CYCLES
June, in Australia, is a flurry or budget planning, spending and is one of the busiest months; not the best time for me to take 4 weeks off in my first year in sales; I didn’t understand my clients' buying cycles.
As I reflect on my journey in tech sales, particularly during my time in Australia, one standout experience comes to mind: the end of the financial year. With June fast approaching, I find myself thinking about the valuable lessons I learned and the challenges I faced during this period.
When I first arrived in Australia over nine years ago, I was eager to expand my network and leverage relationships to drive sales. Cold calling and LinkedIn became my allies as I dived into the tech sales scene, building a strong pipeline and establishing connections with clients across various industries.
It wasn't long before I encountered an obstacle: the end of the financial year. In Australia, the financial year concludes at the end of June, coinciding with a flurry of budget planning and spending. It was a lesson I learned the hard way when I decided to take a holiday to America in the middle of this period.
Unknown to me, June was the peak time for many of my clients, particularly those in the education sector, to allocate their budgets and make purchasing decisions. My absence meant that I was out of sync with their timelines, causing unnecessary stress and missed opportunities.
The experience taught me a valuable lesson: understanding my clients buying cycles and budgeting processes is important to success in sales. Whether it's planning for the end of the financial year or accommodating holiday periods, aligning with clients' needs and timelines is essential.
One of the key strategies I adopted was proactively engaging clients to learn about their financial year schedules and budget priorities. By asking targeted questions and listening, I gained insights that allowed me to tailor my approach and provide timely support.
I realised the importance of transparency and communication in managing expectations, especially during critical periods like the Chinese New Year and Christmas closures. Educating clients about potential delays or constraints enabled me to maintain trust and stay ahead of the curve.
As I look ahead to the upcoming end of the financial year, I encourage you to embrace a client focused approach, take the time to understand your client's needs, anticipate their challenges, and offer solutions that align with their goals.
Whether it's navigating budget constraints, planning for the future, or simply providing guidance, positioning yourself as a trusted advisor is key; success in sales isn't just about hitting targets—it's about building lasting relationships and delivering value every step of the way.
For more on this topic dive into the episode on the Sell Like You podcast. Click HERE to listen.