Would You Like to Reduce No Decision Sales Cycles?
Solution selling experts estimate that a good 1/3rd of forecasted sales end up with “no decision.” What if you could reduce no decision sales cycles and re-energize those sales opportunities and bring them new life?
What Frustrates Sales Reps
When we talk to sales reps, they tell us one of their greatest frustrations isn’t losing to their competition; it’s losing a deal because their buyer decides to make “no decision.”
What Frustrates Customers
When we speak with customers, many are afraid of making a bad decision. So much so that it is better to not make a decision in order to reduce their risk of failure.
What About No Decisions?
Sometimes a “no decision” takes the shape of a stalled sales cycle. Sometimes a “no decision” provides real-time feedback that your proposed solution is considered more of a “nice-to-have” than a “must-have” for your target buyer.
4 Steps to Increase Your Close Rate
Regardless of the reason, try these four steps from solution selling training experts to close more sales opportunities:
1. Review Your Buyers
Compare your prospects to your ideal client profile to determine if you are talking to the right people, in the right companies, with the right problems. Do not fall into the trap of chasing every lead. Focus on qualifying to ensure that you can truly help them to succeed in a way that makes sense to them.
2. Review Your Sales Process
Start from the beginning to analyze whether you have been dealing with the decision-maker/buyer, established trust, uncovered all the issues, differentiated your product/service, and have been working together toward a written agreement that has a realistic and acceptable timeline.We know, it sounds like a lot.
But if you follow a proven sales methodology you will have better results. In fact, a report published by CSO Insights found that sales organizations that adopt and implement a defined sales process where adoption is actively managed have a 15.2% higher win-rate.
3. Then Consider How Thoroughly You Know Your Prospect
Be certain you understand what is at stake personally and professionally for your buyer. What specifically will success look like, what will they gain, and what will they risk? How is their success measured? Until you truly know your buyer, it is difficult to help them to succeed.
4. Probe More Deeply For These Personal Motivators by Asking Consequence Questions
Try to get your buyer to think about what would happen if they took no action. Imagining a future without your product/service might get them back in the game…or at least help you adjust your solution to fit what really matters most.
The Bottom Line
Following these solution selling steps can reduce no decision sales cycles and help resurrect the right opportunities and drop the wrong opportunities.
To learn more about about effectively selling solutions to your target clients, download How to Identify and Target Your Best Clients to Accelerate Growth
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