06th Jun, 2022
, , Designation
- Closing deals is the most challenging task in the entire B2B lead generation process and needs to be continuously optimized for faster results
- Sales reps need a mixed bag of tips and tricks to expedite their deal closure time and exceed sales goals every quarter
Closing the deals is arguably the most essential and the hardest part of the entire B2B sales generation process. It is what converts casual observers and interested parties into actual paying customers. It is the ultimate KPI to determine the success parameters of any organization. Sales is an ever-evolving landscape and should be continuously re-evaluated to keep pace with the changing purchase decisions of the consumers.
It is vital to find the right balance between being an influencer and an aggressor while selling any product or service. Sales is a meticulous, multidimensional job that requires a solid strategy to stay consistent and streamline the sales journey from lead generation to conversion. Let’s look at some of the effective strategies that can help expedite the sales closure process:
Map out the decision-makers
Account management is a crucial tactic that gives sales reps a deeper understanding of both target accounts and their decision-making team. It is crucial to get past the gatekeepers and connect with the right decision-makers across every account. Before engaging with a client, sales reps must take deep dive into the goals, pain points, and preferences of key decision-makers.
Often enough, the decision-makers send someone else for the preliminary meetings to glean all the necessary information about the company. In this case, sales representatives must not customize their sales pitch and should keep the messaging focused on the decision maker’s interests, even if they aren’t there.
Close with solutions, not the product
The deal-closure communication must be concentrated on the client and not the product or service. Every B2B salesperson should focus on they can be a solution to their client’s challenges. Their B2B sales generation pitch should revolve around the goals and challenges and how they can provide practical help to resolve those challenges.
If a sales representative pushes a product that doesn’t seem to have a clear value for the prospects, they are more likely to lose their attention and respect.
Create a sense of urgency
An easy-to-implement tactic to close deals faster is creating a sense of urgency. Put a deadline on the deal, offer limited-time discounts, and offers to give the client an incentive to commit. However, it is crucial not to rush the clients and end up pushing the sale away. Instead, a salesperson must simply present an extra reason why their product or service is the best choice right now.
Respond quickly to quote requests
One of the components that often take too much time in the buyer’s journey is when a lead requests a quote. A long wait time at this juncture in the sales cycle can significantly impact the potential for closing the deals. Therefore, B2B sales leaders need to automate their quote creation and respond quickly to expedite the sales process. Providing easy-to-understand quotes customized to each potential client will allow clients to hasten their decision-making process and close the deals more effectively.
Click Here to know more about appointment fixing services by Denave
Preparing a sales presentation that addresses and overcomes any potential objections of the clients can speed up any deal. It is important that sales representatives have a ‘landmine map’ to prepare for anticipated problems, do a thoughtful analysis of the risks, and reduce the conversation resistance with clients.
A sound sales pitch needs to have solutions for every anticipated objection that a potential client may raise.
The modern business landscape is hyper-competitive, with businesses vying for the same set of customers. Knowing the key areas in which a company is better than its competition can help them stand out in the market. Researching competitors goes hand-in-hand with identifying the target addressable market that starts even before lead generation.
The sales and marketing team should collaborate and take note of key differentiators that they are doing and their competition is not. This could be the unique selling point, and no business would want to miss it.
Businesses cannot afford to engage clients through traditional channels. Sales transformation has been accelerated by advanced AI/ML-led tools. Enterprises must make incremental changes in process, technology, and manual resources to reap full benefits of automation.
Automation tools like CRM are a fundamental requirement to keep track of leads, schedule B2B calls, record customer information, and map out the entire buyer’s journey. CRM also automates repetitive tasks and helps sales teams to track sales metrics with custom reports and dashboards. They can even predict sales patterns using CRM and set more realistic goals.
Companies can also leverage automated data management processes to regularly clean, update, and refresh their corporate data. Having an in-depth understanding of customers will allow the sales team to do better sales prospecting. Automating B2B database services with the help of third-party B2B data vendors can bolster the entire sales journey from ICP identification to B2B lead generation and ultimately finalizing the deal.
The higher the sales closure ratio, the higher will be the ROI for an enterprise. While it is challenging to make that deal-closing pitch, it gets easier with practice. As long as sales teams do their homework, provide a solution to the prospects and make their needs the chief concern, they are on the path to success in closing deals. Using technology to understand and optimize the sales cycle is a great first step in minimizing the sales closure time. Sales representatives should be genuine in their conversation and don’t oversell.
Click Here to know more about demand generation services offered by Denave