Closing deals isn’t a matter of luck, it’s a matter of planning and execution. Here’s how.
Summary: 4-months ago, my client was struggling to schedule prospect meetings. Last week we closed a deal in 24 hours. It wasn’t luck – it was the culmination of understanding, effort, and execution…and there’s no reason why a company you care about can’t increase the likelihood of closing a deal and doing so faster or at least with more predictability.
Detail: Several elements existed to dramatically reduce the sales cycle length in this instance. While I don’t expect all deals to close within 24 hours (wouldn’t THAT be nice!), the foundation for winning deals can be built to increase the likelihood vastly. See the elements below:
√ Problem – The prospects’ problem was acute. We could articulate the connection between the problem and our product offering a solution.
√ Partnership – we cultivated an existing partnership and made it easy for them to share content with their customers (we spoon-fed our messaging and unique selling proposition)
√ Product – the product addressed challenges for multiple prospect organizational functions and individual personas. Existing solutions had insufficiently addressed these challenges/problems
√ Personas – we understood what key personas were accountable for and the problems they faced and got them on the call (credit the video sent in advance to drive curiosity and participation)
√ Messaging – our unique selling proposition was made clear and could be articulated in the context of a competitor, an existing solution, or the needs of an individual persona
√ Pricing – the pricing model and structure made a clear case for our value based on potential impact and de-risked the proposition for the prospect
Solutions: Below are some potential solutions to improve your current state
⇒ Make the most of your sales conversations by sending videos in advance – focus the live meeting time understanding and exploring the prospect’s “whys” and “when”
⇒ Understand primary and secondary issues caused by the problem you solve and present solutions in the context of all impacted stakeholders.
⇒ Identify existing trade associations, LinkedIn groups, and Slack communities (brand or personas-centric) and start building relationships through curiosity – engage to understand – seek to be understood later and you will win.
⇒ Access a strong UX designer and pair them with a developer – rapidly moving from concept to initial prototype demonstrating where you’ll be adding next
⇒ Connect with an industry thought leader with industry credibility and relationships who can serve as an advisor to accelerate insights, open POC doors, and secure speaking engagements
⇒ Start treating the CEO like a brand
OK, that’s all for now…let me know if I can clarify anything for you or help.
Best,
Mike
