The moment of truth – finally, you’re asking the most important question: deal or no deal? If someone has gotten this far along, the interest is definitely there. Here are a few closing tactics and techniques to help you bring it home.
1. Conduct Regular Pricing and Competitive Analysis
If you’re not consistently comparing your business’s competitive advantages and pricing strategies over your competitors, you set yourself up for a slew of lost deals.
Consumers are more informed than ever and could come to negotiations with facts about your competitors. Be prepared to defend your prices, lower your prices, speak to the quality of your service, and acknowledge where your competitors have you beat and are lacking in comparison.
2. Identify Underperforming Reps
Keep track of rep performance with a review template. If certain salespeople are consistently underperforming, invest in providing support for them, or consider putting them in a role within the company where they may better succeed.
3. Communicate With Ultimate Decision Makers
Everyone is helpful to talk to, but make sure the person you’re communicating with specifically regarding the sale is able to agree to the deal. Speaking to those who report to the decision maker is a good way to get a foot in the door, but ultimately might not be the best person to make a formal pitch too.
4. Prepare an ROI statement
Sticker shock is real, but knowing how much an investment can pay off can be enough to sway prospects in the right direction.
Collect stats from existing customers or do industry research to see how much your solution can save(or earn) a company in the long run.
5. Draft Multiple deal options
If your company has multiple tiers or packages, come prepared with an offer for every tier so that prospects know which service they get for which costs. That way, they won’t feel turned off by a deal that could be too large.