Insights from the field of Selling
Since this is a blog post I’ll get right to it. Not enough emphasis is being placed on closing. The reasons we typically hear range from a fear of being too salesy to the reluctance to confront the mortality of a deal. Flashbacks to Alec Baldwin’s famous “A-B-C” sales office scene in Glengarry Glen Ross also add to the pall. But to understand how to improve this, it’s important to understand some of the success factors that drive high close ratios:
1. Prospect fits criteria of past success and aligns with core competencies.
2. Initial contact came via credible outreach or respected referral.
3. Rapport was built and an authentic connection made.
4. Dialog revealed a true need or aspiration not yet met consistent with success factor #1.
5. Other influencers in the sales process were identified.
6. Several solution ideas were exchanged and feedback provided.
It's at Next where all the trouble starts. Is the client supposed to ask for the order? Does the client know that they are at the end of your process?
What we recommend is a meeting among parties that acts as a collective gathering of where everyone is in the relationship. We call this meeting The Relationship Review™. It’s an agenda as much as it is a conversation designed to do one thing: get the client to realize that it’s time to decide. Together you’ve left no stone unturned and it’s time to act. Here’s the flow:
Bottom Line: The goal of this conversation is to continue to engage the prospect. More important - you want the prospect to see the full extent of your effort. This meeting should demonstrate the depth of agreement on key points, the uniqueness of the needs uncovered and the pragmatism in your recommendation. You want to create the impression that you've both been diligent. The ask then, is very simple. You have demonstrated your/your firms’ commitment – now you are simply asking for theirs.
Need to improve the closing skills on your team? Check out our program Taking the Stress Out of Asking for the Business. Delivered online or at a location of your choice! Click here to learn more: www.billwaltonsalestraining.com/uploads/2/6/7/2/26723831/wmfactsheetpack-04-07-18_1.pdf
Bill Walton Sales Training has over 60 years of collective Fortune 500 company experience in Sales, Sales Training and Field Sales Management. Our specialty is preparing individuals and organizations to present their value propositions in a way that results in higher close ratios. Our team are un-blurring the lines of differentiation between their client's fiercest competitors.