Back when I was new to sales, I was given a verbal order by a customer that was substantial. Boy was I excited and I got together with several friends that night to toast to the large commission check Iâd soon be receiving. Except the commission check never came because the sale never happened. The day after the celebration, my customer called to say theyâd decided to âgo in a different directionâ and that, as they say, was the end of that.
If youâre in sales, itâs happened to you. You work hard with a customer to get an order, it comes through and then, just as quickly, it goes away. And, youâve spent so much time on that sale, youâve neglected your pipeline and prospecting. Itâs frustrating, maddening, and discouraging.
A recent study by Hubspot shows the average B2B sales close rate is 21%, which means about 80% of the quotes and proposals you present will never close. Sometimes those quotes that seem like a layup fall flat, while a quote you had no hopes of getting comes through. It also means you need about five prospective deals in the works to close just one and depending on the size of the sale, close times are getting longer and longer.
There is no way to guarantee a sale, even if the customer tells you itâs yours. Until an order has been delivered and paid for, things can and do go wonky! And while there are no assurances a deal will close, there are a few things you can do to ensure you get as many deals as possible across the finish line.
- Qualify Your Prospects: Ensure the people you call on are in need of the products/services you sell, have the buying authority, and the budget to move forward. I canât tell you how many times I met with clients, put together proposals, made a presentation and spent hours fine-tuning the details only to have them tell me, after the fact, they werenât the decision maker. Avoid this frustration by asking qualifying questions upfront to make sure your efforts are directed towards the people most likely to purchase. One way to do this is toâŠ
- Use Consultative Selling: This approach focuses on understanding your customersâ challenges and needs by asking qualifying questions and listening more than you speak. It also means researching your prospect, their company, and industry to better understand their business needs. One priority of consultative selling is to determine and present the value your proposal gives to your prospects, which often helps negate pricing objections. Consultative selling requires research, active listening, asking impactful questions, and presentations that make it easy for prospects to say âyesâ. To make the process easier, be sure toâŠ
- Use Technology: Given the technology available today, itâs imperative hustlers integrate the use of tech into their everyday sales tasks. From CRM (customer relationship management) software and email automation tools to analytics and reporting dashboards along with AI assistants and chatbots. These tools can be used as standalone products or in conjunction with each other to totally revamp how you connect with and interact with your prospects and customers. In addition to saving time, these tech tools will help you keep things organized, track whatâs workingâŠand whatâs not, and help close more deals. But remember, a personal touch still matters in sales so donât let the technology stand in the way ofâŠ
- Building Relationships: Amongst the good friends I have today, many started off as customers. The old saying: âPeople buy from people they trustâ has never been more true. Building rapport with prospects and customers gives you an advantage, but itâs one that must be nurtured and never taken for granted. This happens when you are open and transparent, respond to inquiries promptly, show them youâre a reliable source, and listen more than you talk. Just as with personal relationships, sales relationships take time and effort, but the upside is building long-lasting partnerships that lead to sales andâŠ
- Referrals: The great thing about referrals is theyâre usually pre-qualified leads who already have a need for what youâre offering. The best way to get referrals is to ask your current customers who they know that might be in the need for your products/services. The best time to ask is right after a sale has gone well and your customer is happy. Referrals are one of the most effective ways to provide quality leads and grow your book of sales. The only caveat is, you have to remember to ask for them and thank the person who gave you the referral.
Crossing the finish line in sales starts way before the first meeting with a prospect even begins and it continues until the customer has paid the invoice. Sales strategist and author Jill Konrath noted, âSales is an outcome, not a goal. Itâs a function of doing numerous things right, starting from the moment you target a potential prospect until you finalize the deal.â
The only thing standing between you and the finish line with your customer is your ability to manage your time wisely, your determination to bring more value than expected, and your desire to always treat your customers as you would a friend. Always remember, if youâre not taking care of your customer, your competitor will!
Steve Woodburn started hustling early in life, landing his first on-air radio gig when he was just 20 and spending the next 20 years as a DJ, news anchor, talk show host and traffic reporter. He found the promotional products business totally by accident (as do most) working 29 years on the distributor side and five as a supplier. Steve won multiple sales awards along the way and volunteered his time with his local association, the Regional Association Council (RAC) and served on the PPAI Board of Directors. He's currently the Chief Adventurer of Marvelous Moosey Adventures, a company he and his wife created, and pursues acting, writing and voice-over work. Connect with Steve on Linkedin or via email at successnow09@gmail.com