The Complete Guide to Closing a Deal

A in THE PARETO EFFECT Share this infographic The Complete Guide to Closing a Deal Sealing new business is the central goal of sales. A team can be responsive, efficient and creative, but if they don't get people to sign on the line they are failing. There are seven vital steps in the process of turning an unknown prospect into a new customer. Failing at even one of these will likely cost a sale. START YOUR JOURNEY GO00 Lead Generation Learn how to get the best ROI from your lead generation: The first stage of any sales journey is recognising and capitalising on potential customers. While many of the techniques involved in generating leads have been in use for as long as sales has been a concept, professionals are now able to do more. Performance can be monitored and improvements can be made with supporting evidence. Identify source quality Locate decision makers Control lead volume Exploiting any available information is crucial to maintaining an efficient lead generation process. Everything from the people you contact and channels you use, to determining the quantity and quality of your leads should be analysed and improved. Business Targeting Utilise media & social Locations targeting Use the information available to you to make your lead generation more effective. LEARN MORE Cold Calling All lead generation efforts build up to a first conversation and more often than Pareto SOUNDCLOUD not a cold call is the first point of genuine contact. First impressions matter, so Cold Call Example any sales person conducting these calls needs to be suitably prepared. That means knowing the right questions to ask, the important details to note and the important people to speak to. PARETO Cold calling takes a considerable amount of time and work. By giving sales professionals the support they require, it can become a much more efficient process. Establishing a structure and going into calls prepared, will result in a much better success rate. Cookie policy Remember the goal of a cold call - to book a further meeting. Don't try to do too much too soon. LEARN MORE Meeting Preparation Once a meeting is arranged, the need for an interest in your product has already been identified. This is the point where business is won or lost, so it's important to be prepared. The time before a meeting should be used to learn as much about Set the date in your diary and get to your prospective client as possible. The fine details on needs and objectives, even industry news, can be used to inform the execution work of your meeting and shape up your delivery. By combining this organising yourself. Build a knowledge with an agenda and other supporting materials, each meeting can be approached with confidence. check-list of key points. The objectives and requirements of a client are just as important as your own. LEARN MORE Meeting Execution 84%) Regardless of prior research and any scripted lines, on the day of a meeting it comes down to a one time performance. It's not just a case of taking along your materials and walking through them, slowly breaking any ice that wasn't broken during the cold call. A client meeting needs to determine what comes next and ensure each party leaves with a clear picture. of decisions are based on emotion including likes, dislikes and wants. Are you targeting this during your sales meetings? The execution of a sales meeting should be slick and well-rehearsed, but also open to discussion. The goal may be different each time, but these initial meetings and your performance in them are inherent to sealing new business. The best meetings are discussions. Be organised but open to debate. LEARN MORE The Proposal When invited to send a proposal, you have already secured a place among the THE PARETO EFFECT final contenders. It's time to position yourself as the only option. As proposals can be used to demonstrate the full extent of your understanding and expertise, they should be used to their full effect. You're asking for commitment, for attention and time, so put some in yourself. Effective proposals don't just disclose proposed terms, they educate and persuade potential customers. Discover how to meet expectations and get the most from your proposals. Answer %3D A proposal is your chance to turn questions and nods into handshakes. LEARN MORE The Pitch Despite every communication that has occurred up to this point, a pitch is a new meeting with a new, clear purpose sealing new business. Without self-assurance, presenting your brand, your product and your personalised solution can be daunting. It doesn't need to be. The information you have acquired and your skillset gives you all the tools you need. Discover how to build the structure and mind-set to make each pitch a winning one. Move away from the connotations of a pitch, or at least throw with more accuracy. LEARN MORE Closing Test your knowledge 1. Which of the below is a common nonverbal buying signal? 2. Which of the following is an example of a trial close? V When a prospect maintains eye contact. "So, will you be taking the standard or premium version?" When a prospect touches their elbow. 9 "If I could put this together, would that interest you?" v CORRECT X INCORRECT Many approaches have been mooted and plenty of techniques attempted, but whether a sale moves quickly or is drawn out, it has to be closed. Being an effective closer is the single most valuable skill that a sales professional can have. Knowing the buying signs to look for and the correct moments to pounce can determine whether a deal is struck. There are many logical, effective methods to approach the endgame of a sale, are you using them? Know when to close or you risk talking yourself out of a deal. 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