Why You Can't Close the Deal and How to Fix It
It’s frustrating, right? You do all the heavy lifting. You make the calls, get to the decision maker, have the conversation, put together the proposal, and even with all that effort, you just can’t seem to close the deal.
Getting the deal to close is one of the biggest challenges for sales reps today. In fact, 48% of sales calls end without even attempting to close, and the majority of sales organizations only close about 20% of their sales.
That's a lot of effort and expense for very little payoff.
So, Why Can't You Close the Deal?
There are a number of reasons that salespeople struggle to get sales to close, but the biggest, in my opinion, is they make closing the sale their goal and priority.
If your primary aim is to close the deal, you have sales all wrong. Getting the deal to close is not the goal; it is the natural outcome of a sales process executed flawlessly.
When your goal is to close the sale, customers can feel that your priorities are above theirs. This shift negatively impacts your ability to close the deal, especially in today’s competitive marketplace.
Why Customers Aren't Closing the Deal with You
Because customers have choices — and more choices than ever before. They can find the products and services they need from various competitors. If, at any moment, they feel you do not have their best interests at heart, they will move on, and your deal will not close.
DISCOVER MORE: Sales Logic Podcast: Closing Strategies to Seal the Deal
Shifting Your Focus to Close the Deal
To increase your close ratio and achieve more successful sales, you need to shift how you think about sales and closing the deal.
Focus on helping customers make the best decisions for their companies and their goals. Trust that the more customers you help, the more deals you will close. Trust your process.
When you, as the salesperson, focus on helping prospects achieve their goals, they feel that you are more interested in their success than your own. This leads to more closed sales, repeat business, referrals, and a stronger reputation.
5 Strategies to Get the Prospect to Say Yes and Close the Deal
Here are five strategies you can use to create a strong process, one you can have confidence in, and one that will position you to increase your sales ratio and get more prospects to say yes and close the deal.
Choose The Right Prospect
To close more sales, you need to start the sales call right. Focus on the right prospect, the avatar that fits your ideal customer.
Make the Connection
Slow down the sales process and work on building relationships first. Remember, prospects can buy the product or service from anyone. If you want your prospects to invest in you, invest in them first.
Know the Industry
A CEO once told me he didn’t need another salesperson asking what kept him up at night; he needed someone who could tell him why he couldn’t sleep and offer a solution. Be the expert, know more about the industry than your prospects and customers, and become a resource they want to work with repeatedly.
Solve the Right Problem
Listen to figure out the urgent need, what they are most worried or concerned about, and solve that problem. The right problem for a prospect is the one that is most top of mind for them. Solve their biggest need first.
Follow Up, Follow Up, Follow Up
Closing sales is about follow-up. The sale happens in the follow-up. It's not unusual for a deal to go dark or cold. Customers and prospects are busy. Nurture leads, stay in touch, build the relationship, and add value. When they are ready to buy, you want to be the one standing there ready to close the deal.
Common Mistakes When Trying to Close a Deal
Salespeople often fall into common traps that prevent them from closing deals. Understanding and avoiding these mistakes can significantly improve your success rate. Here are some of the most prevalent errors and how to avoid them:
Not Addressing the Prospect's Pain Points
One of the biggest mistakes is failing to understand and address what truly matters to the client. Sales reps often focus on the features and benefits of their product or service without connecting them to the client’s specific needs.
Solution:
- Conduct Thorough Research: Before your sales call, research your client’s business, industry, and specific challenges they might be facing.
- Ask Probing Questions: During the conversation, ask open-ended questions to uncover their pain points. For example, “What are the biggest challenges your team is facing right now?”
- Tailor Your Solution: Connect your product’s features directly to their needs. Show them how your solution can alleviate their specific pain points.
Poor Follow-Up
Lack of consistent follow-up can cause potential deals to slip through the cracks. Many sales reps give up too soon after the initial conversation when trying to close the deal, assuming the prospect is not interested if they don’t respond immediately.
Solution:
- Create a Follow-Up Schedule: Develop a follow-up plan with multiple touchpoints. Use a CRM tool to set reminders for follow-up actions.
- Provide Value in Each Follow-Up: Don’t just check in; offer something of value each time, such as a case study, a whitepaper, or a solution to a problem they mentioned.
- Be Persistent but Respectful: Follow up regularly without being pushy. Respect their time and be patient.
Lack of Preparation
Going into a sales meeting unprepared can significantly diminish your credibility when trying to close the deal. Prospects can tell when a salesperson is winging it, which can lead to a lack of trust and confidence in your abilities.
Solution:
- Prepare Thoroughly: Know your product inside and out. Be ready to answer any questions and address any objections that might come up.
- Research the Prospect: Understand their business, industry trends, and recent news that might affect them. This shows that you are knowledgeable and genuinely interested in their success.
- Practice Your Pitch: Rehearse your presentation and anticipate possible questions or concerns the prospect might have.
By avoiding these common mistakes and implementing these solutions, you can increase your chances of closing more deals and building stronger relationships with your clients. Remember, the goal is to help your clients make the best decision for their needs, which ultimately leads to more successful sales.
Final Thoughts on Closing the Deal
Closing the deal is not hard; it is the natural outcome of a well-executed sales process. Sales is about having conversations with people to see how you can help them. When you understand their problems and provide the solutions they need, they will choose you over the competition every single time.
