10 simple ways to close more business deals
Closing sales calls or presentations look pretty easy on paper. Find someone or a business that needs what you have to offer, show them how it can help, cash your check. Right?
Anyone who has been in sales for more than 30 seconds knows better. Closing the deal is about more than just being prepared, giving a stellar pitch and overcoming objections.
Although there’s no “magic formula” that will get you the deal every time, the simple steps in this guide can have a serious impact on your numbers if you commit to putting them into action on a daily basis.
1. Focus not Only on What But “Who” Matters
All too often sales reps and deal closers focus too much on the wrong prospects. Sure, every “lead” technically has the potential to turn into a paying customer, but at what cost?
Those that close more deals know that their time is better spent getting in front of the “right” prospects as much as possible. In order to do this, a strong disqualification process needs to be in place.
Your time is valuable and it’s the one asset you can’t make more of.
Before you Schedule that Hour Long Meeting Make sure the Prospect:
● Fits your ideal customer avatar
● Has a budget allotted for the solution you offer
● Knows or has a good idea of the price range of your product/service
● Has a designated timeline to “pull the trigger” and implement
Ensuring the above checkboxes are ticked off prior to your meetings will (largely) eliminate the “tire kickers” and time wasters, allowing you to focus on those with the highest probability of closing.
2. Agree on a Clear Agenda
Making sure both you and the prospect know what to expect and what the meeting/call is about, as well as the next step will help you head off any objections before spending too much time on someone who isn’t ready to pull the trigger.
Before every meeting let them know you’re going to send a quick bulleted list of what will be covered and the next steps (i.e. closing the deal). Ask them to confirm this itinerary and if they have any questions to let you know in advance so that you can be respectful of their limited time.
3. Get on the Same Page and Confirm Everything
Confirm, then confirm again. Meetings, pitches, proposals and sales presentations take time to plan and execute. The last thing you need is a “no show” on the calendar. Make sure to confirm the date and time of the appointment and ask probing questions about the agenda to make sure it resonates with what they hope to accomplish during that time slot.
4. Get a Commitment on a Budget Early On
This simple, yet effective step can help filter out the tire kickers. You don’t need them to commit to a specific price at this stage, but what you want to know is that they HAVE a budget allotted to a solution (be it yours or your competitors).
5. Establish a Timetable
Qualifying prospects based on their desired timeframe to have a solution in place will help you prioritize your own sales activities and objectives. This will allow you to focus on those prospects ready and willing to pull the trigger now so you don’t risk losing any deals that have immediacy.
6. Turn up the Heat
There’s an old saying in sales, “push the pain”. This is an opportunity for you to really hit home, empathise, and reiterate the prospect’s current (undesirable) situation. Use this strategy to paint a picture of how your solution will tackle the challenges they are experiencing to help them accomplish their goals. You can also take a stroll down the path of inaction, taking a deeper look at what waiting to implement a solution will look like for them.
7. You Have an Idea Customer Avatar for a Reason
You have (or should have) a custom avatar that represents what your ideal customer looks like. Any deviation from this avatar will represent a decreased probability that your efforts, no matter how well planned or executed, will result in a sale.
Narrow your focus to those prospects that most accurately represent your ideal client and you’ll both have a much better time.
8. The Ladder Approach
Also known as “soft closing”, this tactic utilizes a series of “no brainer” value-based, solution-oriented questions that encourage your prospect to agree with you and make small commitments throughout the sales process.
For example, “Would you say that adding 15% to your bottom line would have a solid impact on Q2’s performance numbers?”. Of course, it would! You already know this. When tied to your product/service value proposition these small “wins” can help the deal move towards the inevitable conclusion you’re after: a closed deal.
9. Make Sure You’re Dealing with the Decision Maker
Don’t assume that the “head of XYZ” has the authority to make the final decision.
Ask who is in charge of:
● Vetting vendors
● Choosing a solution provider
● Signing off on payment
Once you know who is in charge and the process for getting a deal signed, work with that information to ensure that all decision-makers are present or included on all communications including proposals and presentations.
10. You Miss 100% of the Shots you Don’t Take
Ok, this one is a “no brainer”. Yet research shows that 64% of sales professionals DON’T ask for the close on every sales call/presentation. Crazy right? Don’t be that guy or gal. Be confident in the value you provide and in the solutions you have to help your prospect reach their goals. Ask for the close on every interaction where it makes sense.
And with that, we’ll let you get back to “smiling and dialing” or preparing your next proposal for that big whale you have on the line. Happy hunting!
