Dealing with a drop in closing rates can be quite a testy experience for managers and no joy for reps who have otherwise seen a great deal of success. Consider a scenario in which your probability of closing a sale hovered around 70% in the past, yet not a single new contract has closed in the past two months.
Drops in closing success are often caused by common mistakes that even the most seasoned sales reps may not recognize in the push to close. Here are two you can avoid.
1. Selling Below Yourself
Some salespeople simply don’t feel comfortable working with business owners, executives or high-level managers. Instead, they continue calling on mid-level managers and staff people, relying on them to sell their proposal. If you find that you’re getting the run around with no decision in sight, it may be time to rethink who you’re working with. Reassess the issue the company is trying to solve from an executive’s perspective, then use it push to upward to present your proposal.
2. Discount anyone?
Too many sales reps jump to offer a discount at the first objection. Unfortunately the moment you do that, your prospects sense fear and that’s when they negotiate even harder. Before you offer a discount, step back and reassess why you believe your solution is best and prove it. Whether it’s a cost justification, an assessment, or a more extensive review of their situation, state the business case and close the sale.
There aren’t any tricks to closing the sales – just strategies all through the sales process that will get you to Yes! faster – if you know what they are, please let us know
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