Closing More Sales NOW!
Are you looking for ways to enhance your closing rate and sales success? If so, here are three concepts to incorporate into your sales process:
- Urgency Detection & Financial Justification: Understand, at the beginning of the sales cycle, how not making or delaying a decision to buy will ultimately cost the customer money. For example, a proposed computer system that would save a firm $35,000 per month in overtime and accounting expenses yet cost only $20,000 per month on a 3-year lease has a $15,000 monthly benefit. So, the cost to the prospect of delaying a purchase decision is about $750 per business day. Remember, if there is no urgency present, you don’t have a qualified prospect. And if there are no compelling financial benefits, you won’t have a very motivated prospect.
- Stakeholder Contact: Find out who personally loses if a buying decision is delayed or canceled, and make sure you’re in contact with that person. In the example above, the VP of Finance’s bonus may be based on net profit contribution and he or she would lose bonus dollars via a delay in installing the new computer system.
- Objection Prevention: Objections, particularly when they occur late in the sales cycle, serve to delay the sale and/or lower the probability of closing it. Successful salespeople have well-rehearsed responses to the top 20 objections they receive. Moreover, seasoned sales pros boost their closing rates by actively anticipating objections and then using specific, highly-successful sales techniques to prevent them from occurring.
