Below are the final pieces of advice on closing bigger deals. If you are interested in a form to help you with these, click here and we will send it to you.
13. Check LinkedIn, Facebook, Phinkit, Twitter or any source for connections. These connections might be able to coach you or influence the buyer.
Bigger deals take longer and there are going to be a multitude of changes or events that occur during that time that could help or hurt you. For example, a new person can come into the company you are selling that likes your services. Or an event can happen to the prospect’s business that your service can have a great value for. So make sure you are updated by these sources on a frequent enough basis to stay on top of anything that could help or hinder your sale
14. Develop a coach ASAP if it is a big deal.
Every sales strategy discusses how important having a coach is. For those of you who don’t know, a coach is somebody who wants you to win and will give you insights and advice you cannot get otherwise. It is always best for the coach to be of influence or the decision maker, but the most important thing is they have insight into the decision process and are telling you things they “shouldn’t” and are not telling anyone else. If they are telling others, they are not a coach.
15. If you are smaller than your competitors, show your depth by having more people involved in the deal.
I believe I have mentioned this before, but people often buy bigger companies because they are better known and are safer to buy from. If you are a smaller competitor, it is critical that you bring in the people who will service and support the client. That way, they know they will be taken care of, and potentially dilute or diffuse the apparent advantage of the bigger company. In addition, these other people from your company may get information that you can’t get and help you with the sale.
16. Create a no lose policy for certain strategic key accounts.
Some accounts are so critical and influential they can impact an entire industry or marketing initiative. Many companies will use this “no lose policy” even if the first deal is not profitable or goes outside the norm. Find out who these accounts are for you and sell to them aggressively so you can use them as a reference for other key accounts.
17. If you are in a very advantageous position, push the close ASAP. The longer the deal goes on, the more bad things can happen.
Nothing good happens if you are in a strong position and the deal takes longer to close. The key people who favor you can change, financials can go awry, other priorities arise, etc. Do what ever you need to do to close the deal, even if it means starting smaller, or being a bit more lenient with your T&C’s so the approval process can happen quicker.
18. If it very competitive, have a tiebreaker to help the customer decide in your favor.
A prospect who is fair minded an doing their due diligence will often have a difficult time making a decision since they will like different aspects of your offer and your competitor’s offer. If you save something that has high relevance, is unique to you and addresses the DM’s personal or professional goals or interests, you will have something that can tilt the deal to your favor. Click to Download the Form.