As a sales rep, one of the biggest challenges is to bring deals in on time. You’re always trying to hit monthly or quarterly sales goals based on a very specific timeframe. But how do you get those deals to close to hit your target? There are a few ways you can try to speed up deals and set specific dates to close by.
1. Set a discount with a timeframe – Discounts are obviously a big strategy to speed up sales cycles, but reps often forget one important part: tying that discount to a timeframe. Letting the prospect know you are willing to provide a significant discount, but only if you can get a specific timeframe like the end of week or end of month to close the deal by. This highlights a key tactic in sales, never give something away (in this case, a discount) without asking for something in return (a specific close date).
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2. Use a date to hold them accountable – This may be for a free trial end date, or a contract expiration date, or any other date associated with the product or service. Leverage this date to explain that if this date passes without an executed deal then it could result in a disruption of service or create some other problem. As long as this ‘ask’ is reasonable and you’ve done a good job of creating repore with your prospect, they should be open to working with you to get the deal wrapped up.
3. Schedule a specific call to confirm the deal is on track – Instead of sending the quote and just waiting and hoping they close on the expiration date, schedule a specific call to discuss it with them. On this call you can talk about the upcoming contract expiration date and the progress on their end to close the deal by that date.
This does a couple things: It creates accountability for the prospect that there is a call scheduled on the calendar where they will need to update you on their companies internal process. It also gives you insight as to where the deal is and where to put it on your priority list. Last, it allows you to schedule the call and not have to worry about it again until that date. Just make sure to get it on the calendar and then end of the meeting where the quote or proposal is discussed, so you are not chasing them around trying to get it scheduled after the fact.
These are a few ways sales reps can accelerate their sales cycles and be confident deals can close on the timeframes they need to hit numbers at the end of the month, quarter or year. We are also working on some interesting tools at LinkSquares that help sales teams accelerate the contract negotiation process with prospects and keep deals from getting stuck in legal.
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