Smart Strategies to Close Deals Faster For Growing Business

Smart Strategies to Close Deals Faster

As a sales professional, the end of the month with unachieved sales quota makes you feel frustrated and lost, isn’t it? However, you can avoid such helpless situations by adapting flawless sales strategies. Having a closing mindset is necessary for creating a successful journey till the closure of your deals. But for achieving such a prowess, you must have the right start.

What you need is, few tactics up your sleeve for closing maximum deals in a lesser amount of time:

Get acquainted with your prospects’ needs

customers needs

Being a sales professional, you need to know what your prospect is looking for or else you will just end up wasting time. Only when you understand their business requirements, you will be able to provide a solution to their issue.

Only 13% of customers believe that sales professionals can understand their needs.  

Instead of offering a product and talking about its excellent features, try to present it as a beneficial solution. Pay attention to details they mention, to strike a meaningful conversation.

To understand their needs, you need to find the answers to below questions like:

  • What is their business objective?
  • What obstacles are they facing in achieving that objective?
  • What are the problems hindering their growth?  
  • What are their concerns and are they using any technology to address them?
  • How is the current issue affecting their bottom line?
  • What are their expectations if they invest in a product?

The more information you garner, the better service you will be able to provide which can positively influence their purchasing decision.

Streamline your sales process

Streamline your sales process

Complex sales processes consume more time and decrease the possibilities of conversion. Streamlining your sales process is necessary to increase your sales velocity and close more deals. This can be possible with a CRM software, that not only helps in structuring your sales process but also aid in efficiently managing it to close and convert deals quickly.

With a CRM software you can:

  • keep a track on your sales process to identify opportunities and follow up on time.

Approach the right decision maker
Approach the right decision maker

By approaching the wrong person in the company, you will not only lose a deal but even waste the time you could invest in a high potential deal. Avoid the gatekeepers and try to directly reach the decision makers for making the most of your efforts.

Wondering how to reach the decision maker?

The below points will help:

  • Leveraging network on LinkedIn- Search the company on LinkedIn to see if there are any common connections to inquire about the decision maker.
  • Check their articles and press release- Quotes in the articles and press releases are the best route to reach the decision maker of the company.
  • Company’s website- In most of the cases there is a list that displays the top management of the company.

State price before the demo
State price before the demo

Now, this is tricky, but you need to be smart in outlining the price of the product before you meet the prospect for a product demo. Most of the time sales reps lose a deal in the negotiation stage. So, bring the price up with the value of the product at the right time.

You should be expert in highlighting your USP to convince them to invest in your product. Explain how their current investment will be beneficial for the future of their business.

Develop a sense of urgency
Develop a sense of urgency

Add a discount and offer it with a deadline. The ‘limited time offer’ works as a stimulus driving action at the right time. Prospects wouldn’t like to miss a good discount with value so instead of pondering over the deal later they tend to give it a thought instantaneously.

“One tactic that works well with most products or services is to create a strong sense of urgency. This can be accomplished through a limited-time offer or a discount. If you can make the prospect feel as though they are going to miss out on something special, and they are strongly considering purchasing the product anyway, you can get them to act faster and close the deal.” – Janis Krums, Opportunity

Overcome objections

 

The main hurdle that most of the sales personnel face while closing a deal is overcoming objections. For turning objections into opportunities and closing deals quickly, you need to first understand the cause of these objections and then try to address them.

 When buyers have a few objections and you can satisfy them, your success rate is 64%.

Below are the most common objections and the solutions to overcome them:

  • Objection– High price

Solution – Price is the most common concern. As I mentioned above, emphasize on the value of your product to justify the price or use the discount strategy.

  • Objection– They are already using your competitor’s product

Solution–  Try to know if they are satisfied with the product and are there any expectations that are unfulfilled. Accordingly, try to relate your product to their needs and show them what are they missing.

  • Objection– Never heard of your company

Solution– Be optimistic and provide more information about your company as well as product. Try to gain trust by sharing case studies and success stories.

  • Objection– They are not interested

Solution– Be persistent and do not give up. Try to know why they aren’t interested. Narrate your current client’s story that how they felt the same initially but later the features of your product changed their thoughts which are expressed in their testimonials.  

Closing thoughts

To control the outcome, you just need to be prepared from the beginning with smart strategies and advanced technologies. Change your approach a little towards selling to see the difference. An intelligent  CRM can support your selling efforts and help you in closing more deals faster. This advanced software is specially designed for sales professionals to aid them in their endeavor to increase conversion for meeting their sales target.

About Author:

Coreen Menezes is an avid writer who likes to explore new fields and research about interesting subjects. She is a versatile content developer who plays with words to express her thoughts. Calm, carefree and creative are the words that describes her the best. At present she is associated with Salesmate as an experienced content crafter. Follow Coreen on LinkedIn & Twitter.

Leave a Reply

Your email address will not be published. Required fields are marked *