Over the years sales deals have been closing at a lower and lower rate, and what is worse is that a higher percentage of these are seeing the prospect make no decision at all.  Losing a deal to a competitor is something that businesses can get over because it is all part of the game, you win some and you lose some.  However, losing a deal because the prospect could not make a decision reflects poorly on your sales team, and it should bother you because it means your time and resources were wasted dramatically.  The best solution to these “no decisions” is a broken sales cycle.  A good sales cycle should know the prospect’s buying cycle and it should be able to figure out if their solutions fit the prospect’s needs or not.  You should ideally know early on if the prospect is worth the time, you shouldn’t be finding out at the end of the cycle.  Here are some steps that will help eliminate the “no decisions” and find “no’s and yes’s” easier:

  • Interview Prospects – Get to know your prospects, and ask questions that will help you figure out what they are looking for and what they need.  Ask them what their business challenges are and their buying decisions.
  • Examine Sales Processes – It is important that sales tactics align with customer perceptions.  If customers don’t understand, then it is harder for them to make a decision.
  • Analyze – Pay attention to wins and losses.  You should analyze your results to see which sales tactics worked the best so that you can repeat those tactics.

Author: Michael Whartnaby, Prospectr Marketing