Sales reps want to close a deal faster.
Most sales representatives want to close a deal faster, and they are looking for ideas on how to do that.
You are excited. You’ve presented your proposal and a decision is coming this week. A week goes by, a month, now what? What happened? Your sales deal stalled.
Salespeople spend just one-third of their day actually talking to prospects. They spend 21% of their day writing emails, 17% entering data, another 17% prospecting and researching leads, 12% going to internal meetings, and 12% scheduling calls.
Salespeople don’t have time to waste. They want to reduce the sales cycles with the potential to close a deal quicker.
Lead generation a big step in the right direction for your marketing efforts, and a requirement for growth. It’s the top of any marketing-to-sales funnel.
So, how do you quickly move those leads through a process to get the sale? Let’s explore some of the ways to close a deal faster.
Identify the Personas to Help Close a Deal Quicker
If you want to maximize your campaign reach and get your content seen by the target audience, then it’s crucial to get to know your consumers beyond demographics.
You need to understand who your buyers are. They will probably require different communication styles and different responses.
Perhaps you will learn that you have competitive users, people who are scoping out all the different options and trolling through the web to compile information.An analysis of more than 2,200 American companies found those who attempted to reach leads within an hour were nearly seven times likelier to have meaningful conversations with decision makers than those who waited even 60 minutes. Click To Tweet
Or, you may have a driven, no-time-to-waste executive who needs solutions quickly. These two personas are going to need an entirely different, targeted messages and follow-ups.
Your Sales Funnel and Demand Waterfall
How are reps handling the fact that typical B2B buyer is already 57% through the purchase process before reaching out to sales.
The sales-to-marketing funnel is the process from initial contact with your company to making a sale. While there are some standard steps that are usually in the funnel, you need to identify what those steps are for your company.
Each step should have a corresponding action plan. Typical steps in a sales-to-marketing funnel can include:
These are not absolute stages for a marketing-to-sales funnel. Review your processes and determine what should be happening and when.
That will help you name all the stages in your funnel and identify the corresponding action plan.
Close the Gaps in Your Sales Process
At any point in your sales funnel, you could conceivably lose potential customers. Get smart tracking and insightful metrics on board so that you can see what is working and where people are exiting the funnel.
While still serving those customers who are firmly in the funnel, work diligently to ensure that those who exit will reconsider. Use Call to Action items or “wait… before you go” offers to pull those people back in, gathering their qualifying information during the process.65% of salespeople who use social selling fill their pipeline, compared to 47% of reps who do not. Click To Tweet
Identify when the sales team should take over and when they need to send a prospect back through the marketing portion of the funnel. The best way to know the timing on this is with lead scoring and qualified lead standards.
Do you find prospecting to be the most difficult part of your job? You’re not alone. More than 40% of salespeople say this is the most challenging part of the sales process, followed by closing (36%) and qualifying (22%).
How good is your lead and where are they in the buying process? These are core questions that are answered by lead scoring.
Creating a system for lead scoring is underpinned by software. However, you still must think carefully about what makes a good lead and work with the software to set up your parameters.
You should also take a look at the kind of information you have on your customers before diving into a lead scoring system.
If you gather contact and demographic information via your site plus site analytics to understand how your leads are interacting with your marketing, you probably have enough to get started.
If you haven’t been gathering that information, back up and revise your marketing. It’s no use scoring leads if you don’t have relevant data. Use Google Analytics, to begin with here.
T The typical B2B buyer is already 57% through the purchase process before reaching out to sales.
As sales have modernized and the pipeline stages held the same meanings but have been massaged to mirror the dynamics of the current sales landscape.
Divide and Conquer to Close a Deal Faster
Your lead scoring should reveal which leads are ready to move to sales versus which need to be targeted by marketing. The strongest leads are called marketing qualified leads, known as MQLs.
These are people who, based on their interaction with your marketing and data gathered from their interest forms, are most likely to become customers.
It’s essential that marketing and sales teams work together. They must decide what qualifies as a marketing qualified lead (MQL) and at what point they become a sales qualified lead (SQL). Create a point system to reflect the strength of the MQLs.
HubSpot uses a 100-point system, allowing a good overview of how qualified the prospect is. But so does Marketo and others.
Based on this system, you may want to put the prospect back into the pipeline for lead nurturing. This is a marketing follow-up, ideally automated, to provide more details about your product or added incentive to buy.
If the lead is strong and MQL score meets your predetermined value, it can go on to sales for their customized approach.
Automate Lead Nurturing
What’s better than being able to reduce your sales cycle and close a deal faster?
One way to start freeing up time and reducing your sales cycle is through lead nurturing with workflows.
Following up on those who are merely “poking around” can move a prospect quickly into a higher MQL score. Automated systems with effective workflow processes can deliver your messages based on lead scoring and the defined persona.Salespeople spend just one-third of their day actually talking to prospects. They spend 21% of their day writing emails, 17% entering data, another 17% prospecting and researching leads, 12% going to internal meetings, and 12% scheduling… Click To Tweet
Many companies drop the ball right here. Following up within hours in a seamless, relevant, professional way can move your potential customers on to the sales side much more quickly. Do it under 5 minutes and your chances of success go up dramatically.
One note of caution. Avoid sounding too aggressive too early. You don’t even know if you can help them yet. Being aggressive will not close most deals faster.
So, continue to frame your messaging as wanting to help your customers rather than spying on them.
And you should be doing that anyway.
Utilizing all the tips above can help you increase the rate of conversions. Take prospects from leads to sales in a much faster, efficient way with these tools and tips. Your bottom line will thank you.
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Wrap Up on How to Close a Deal Faster
You can read countless books or use closing techniques like an assumptive close for closing the sales. Sure this work, but if you focus on helping the prospect with value-added products or services, you will boost your chance of closing a deal faster.
It’s important to understand how to close a deal. It is the deal that drives money back into the organization, pays the sales reps commissions, and help provide vital resources to the business.
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