You’ve successfully moved a deal up to the proposal stage of the sales pipeline. The lead is qualified, and interested in your product. All you need to do now is get them to sign on and buy – this is not always a simple process.
1. Don’t be desperate
To close a deal, you need to handle objections and convince your prospect of the value of what you are selling. To this end, the salesperson must remain fully confident in the high value of the product or service. Coming across as desperate to close a sale implies that you are having trouble closing deals – whether this is the case or not, once a salesperson shows signs of desperation, their chances of closing plummet.
2. Be persistent but not repetitive
Some salespeople are afraid of repelling customers by being overly persistent – and there is some truth in this. Don’t repeat the same sales pitch multiple times to someone that shows they are not interested. Instead, be persistent in a smart way, and find alternative ways of presenting the benefits of your product: show that you are more sold on the value of your product than the prospect’s objections. When you close deals, you can then mark them as ‘won’ in your CRM. If you lose a deal, you can log the reasons why in your CRM, for future reference of what not to do during the next sales cycle. For example, you may find you were not persistent enough and did not push hard enough for a deal to go forward.
3. Stand your ground
There will always be potential customers negotiate hard for a reduction in the price – however, being persistent and refusing to go below a certain level emphasizes your confidence that your product will be of benefit to them. Furthermore, a lower price can actually make your product less attractive, as it may make people think it is low in quality. Let your leads know that you have offered them the best deal possible, and that there is no more room to change it. Saying ‘no’ can be very important, to show the potential lead they cannot just demand whatever deal they like, showing the value of the product. Also, being told ‘no’ to a certain deal proposal can make the lead want the product even more, since people often want what they can’t have, and continue negotiating.
4. Turn the tables
You need to shift the dynamic and make the prospect see that they need you. A smart way to show how your prospect that your product is valuable and beneficial is to mention other customers. If you are on a call with a prospect that is reluctant to close, objecting to certain features and pricing, let them know you have other customers willing and ready to move forward. With this information, you introduce a sense of competition, and make the lead more eager to get ahead of other buyers.
5. Create a sense of urgency
In order to get a prospect to make a decision faster, create a sense of urgency. Refer back to the problem the lead is experiencing and the need they have for a product like yours, and ask emphasize how this issue must be resolved sooner rather than later. You may also implement a temporary discount or offer to encourage prospects to move forward right away.