While the biggest deals can oftentimes make up for a large percentage of your business, don’t waste time trying to sell your way to a large sale for every potential client.
Make Meaningful Connections
Even before initiating any business, you must consider who your clients may be. Closing deals is still largely about who your prospects are, knowing where to go and the best people to contact. Having good referrals can determine the difficulty of your job when it comes time to closing a deal.
It’s important to focus on building a relationship with your network, and not on forcing a sale on anyone who could be a potential client. This can make your connection seem disingenuous and your time trying to convert a client much harder. Valuing the strength or quality of a relationship can gain you more meaningful introductions and hopefully more worthwhile sales.
Once you make a connection with a prospect and go through the sales process, no step is more vital than the close. Every salesperson’s objective at the end of the day, is to close the deal. While this may be the most important phase of any sales process, it is commonly overlooked. Big or small, a sale is not a sale without a closed deal. Many salespeople work long and hard to get a handshake agreement from a potential client, and then tend to relax at the most important phase of on-boarding. What they don’t realize is that many deals are lost at this stage.
Don’t Waste Any Time
In the sales process, letting too much time elapse between connecting with a potential client and closing a deal with them can be a real deal killer. Regardless of how effective your sales strategies may be, you have to be actionable when the time is ready to make a sale. If any time is wasted, the risk of losing a potential client increases.
When it’s time to close, it can be common for salespeople to accidentally blurt out a question like, “Would you like some time to think it over?” This is the ultimate kryptonite of any deal and should be avoided at all cost. If the salesperson recommends thinking about it first, prospects will think it’s not something worth agreeing to without some considerable deliberation.
How you close a sale depends on the situation and the prospect, of course. If the sales process has gone fairly smoothly and the prospect is ready to sign, closing can oftentimes be a simple matter of asking. If you haven’t done the best job of convincing the prospect to become a buyer, the close is your chance to make up for it. Nevertheless, it’s best not to waste time.
Asking for More
When it comes time to finalizing a deal, you may be tempted to negotiate for more. Don’t give in to this temptation. Closing the deal means a budget has been approved, and it’s much easier to ask for more later, than it is to ask for more upfront.
You still must have the confidence to ask for more after they’ve committed to use you. After all, a salesperson’s job isn’t over once the sale is made. A simple ask can open the possibility to a customer buying a little bit more – or even a lot more.
Learn How Blue Street Capital Can Boost Your Company’s Success
Not every deal will close, but you can increase your chances of successful transactions by changing your mindset and predicting what your partners and clients may want before they ever say it.
At Blue Street Capital, we know that trying to close deals can be stressful and can require a lot of nuance and energy on your part. We’re here to help with aspects of your business that you can put on auto-pilot while you focus on major decisions. We help companies find the technology solutions that work for them, and continue to do so. Contact us online to discuss our solutions today.