Why do deals “get stuck or stalled” and what should you do to get them moving?

 The real question is: Where in the process do they get “stuck” and “why” do the get stuck or stalled?

 

  • Do we understand their issues, who’s involved, their “conditions and compelling reasons” for changing?
  • Do we know their buying and decision-making processes?
  • Do we understand where they are in their process?
  • Did we “rush” through the sales process, missing critical steps or milestones?

It seems customers procrastinate for a few predictable reasons:

  • They may be unfamiliar with you, your company PLUS they may have no urgency to change because we didn’t ask good questions, or enough questions to determine their compelling reason(s) to change.
  • They are unfamiliar with your solution OR they are not an expert, like you. They feel like they could “make a mistake” or lose if they buy the wrong thing.
  • Money: Without having done a good qualifying process to determine their compelling reasons to change, almost everything looks expensive, since there is no “value” established. This leads to indecision, procrastination and stalls.

Here are a few critical considerations and tactics to help avoid this and actions to take to keep them moving.

  1. At the end of each call, you must “Recap & Review what happened, what was discussed and what was agreed to-using your Active Listening skills.
  • You mentioned that you need to…
  • Your current supplier is not doing …
  • You have a deadline of…
  • You need ____ to make the final decision
  1. After doing a “Recap & Review” of the meeting…ask one more simple question: Did I miss anything? This helps gain further input and gives the prospect the opportunity to enhance your statements and add any final understandings.
  2. Next summarize the next step to MOVE FORWARD: (date/time/invite others/commitments/etc.)
  3. If prospect is “non-committal” about a next step: You need to acknowledge this and nurture them and slowly and softly ask:

“(name) What is your biggest FEAR or CONCERN about moving forward with us?”  OR: “What hurdles or risks do you see in moving forward? (pause…don’t react…just listen.) Let them speak. Acknowledge their concern(s.) 

Ask them what they’d like you to do to address them. Have a conversation with the goal of creating a better & clear understanding to relieve their concerns.

  1. If No Next Step: Ask why not?
  2. Let them tell you…don’t interrupt; don’t make excuses; don’t start “re-selling.” Just listen. You may find out that it is something you can address…to keep the process moving; or else it is over, and you can save time and move on to another account.
  3. Never leave a meeting/sales call without an “agreed to next step.” If we leave a meeting without an agreed to “next step” with the prospect, we have just lost control of the process…and the “chase” (unfortunately) will begin.

 

Conclusion: Identifying where & why deals get “stuck” is a critical exercise to categorize what you must do to move forward. Improving this one area can have a huge impact on your sales success and results.

Want a no risk, objective perspective on your company’s sales and business development processes, call us @ 630-560-3614 or just contact us 

And tell us what you’d like to discuss.

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Solutions…. “Approval Removal”

  • Remember:  “It’s natural to be liked.”  If your need to be liked gets in the way of executing your sales plan and activities, it will have a negative impact on your sales and success. The strongest impact is usually in the beginning of the process…the cold call. Will you worry about if you are interrupting a busy person, or if they might get flustered with another sales call?
  • Replace your need for approval with a need for respect!  Gaining respect from others is the key. You need to know that they respect you for your experience, your knowledge, your skills (listening & questioning), your uniqueness, your integrity and your difference. Seeking respect will get you to act and perform differently than seeking approval.
  • Understand the consequences of your need for approval. If you get a high number  of “TIO’S” , call backs, “no decisions”, put-offs and stalls…it is usually because we don’t want to appear to be aggressive or pushy….and we would rather be liked or approved by the prospect. If the prospect has a problem, the way to gain their respect is to be persistent, polite and professional…ask for the appointment or decision. They will ultimately “like” you if you help solve their problem…not if you accept their stalls…because you will not have helped them with their problem(s).
  • Seek approval in you personal life, not at work in your sales life. Have someone special in your life who gives you all the approval and caring so you won’t need it from prospects. If you don’t have someone today…find them!
  • Overcome Rejection…quickly! Don’t dwell on the rejection…it is a waste of time and it puts you farther away from reaching your personal goals. Realize that they are not rejecting YOU as a person; they are rejecting any of the following:
    1. The call
    2. The interruption
    3. The offer
    4. The message or your approach
    5. The request…for a meeting

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Kash Sales Brief: The “AS WE AGREED TO LETTER”

Problem: good intentions, incomplete communications and missed expectations typically create delays, misunderstandings, misinterpretations and closing opportunities.

 So, what do we do to be better in our communication to get agreements & commitments?

We must adopt a clearly written letter/email that spells out the “expectations” for “Both Parties” regarding:  What is needed and expected, as a next step!

Solution: It is the: AS WE AGREED TO LETTER.”

(This avoids the “I think I know what is going to happen; OR…You think you know what we are going to do or, have to do next” …mindreading or assumptions- don’t count.

The AS WE AGREED TO LETTER”

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2024 4th Quarter: Time to Close Business!

2024 4th Quarter: Time to Close Business!

As a sales professional, you must ask yourself: What have I accomplished Year to Date in 2024 and what is required in Q4. It is critical to have a realistic, actionable, defined plan for the remainder of 2024 to ensure you exceed their sales goals.

This is the time for action and total execution of your plans, process, and efforts. 

The first 3 quarters of 2024 are HISTORY! It’s time to Look & Move—Forward! But first it’s time for a “short” Accountability Review 2024 Year to Date Results and a specific action plan for Q4.

Your Review Jan-Sept 2024

 

Year to Date summary:

  • Quarter 1,2 & 3 Actual Results vs. plan/forecast (2024)
  • Existing account results vs. plan
  • New accounts acquired and results vs. plan.
  • Quarter 1,2 & 3 Actual Results vs. last year (2023 vs. 2024)

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Finding the Decision Maker…

Making a sale requires us to be with the person that can make the decision. Unfortunately, many companies you sell to will not allow access to the people that really “call the shots”. Or at least they will make it seem that way. Instead, they force us to deal with information collectors who will bring “the committee” the information without having to meet with the salesperson. Or, people often make themselves out to be the decision maker when in fact they are not. In either case, we are stuck with a non-decision maker and dramatically lower our chances for success.

We have learned that finding the decision maker can be easy to do when you think about the decision process or how the decision is made rather than who makes the decision.

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Making the 80/20 Rule Work For You In Sales

80% of your business comes from 20% of your clients.

In 1896, Italian economist and sociologist Vilfredo Pareto formulated the 80/20 Rule. It states that 20% of the work force produces 80% of the results. How does the 80/20 Rule apply to you, your accounts, and your results?

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Sales Manager’s Corner: Sales Training “Do’s” & “Don’ts”

Good training will accomplish three goals:

  1. It will teach skills that develop efficient work habits (behavior).
  2. It will form positive attitudes that promote healthy self-esteem and belief systems.
  3. It will build salespeople’s knowledge of techniques which allow for qualifying, closing, and developing relationships.

Get the most out of your Sales Training:

Basic Do’s:

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New Year, New Sales Year

 

As the calendar turns to 2024, we find ourselves at the threshold of a new year, brimming with possibilities and opportunities. For sales professionals, this transition symbolizes more than just a change in dates—it marks the beginning of a new sales year, ripe with potential for growth and achievement. So, what better time than now to chart a course towards sales success?

According to data from Objective Management Group (OMG), a leading sales assessment firm, a staggering 74% of salespeople are not achieving their sales quotas. This statistic underscores the pressing need for a strategic approach to sales in the new year. It’s time to break free from the shackles of mediocrity and embrace a mindset of excellence.

To kickstart your journey to sales supremacy, leverage the power of data-driven insights. OMG’s research reveals that top-performing salespeople possess specific characteristics that set them apart from their peers. These include traits such as a strong desire for success, effective communication skills, resilience in the face of rejection, and a relentless drive to exceed targets.

Additionally, don’t underestimate the importance of continuous learning and skill development. OMG’s findings highlight that only 11% of salespeople have the necessary skills to succeed in selling. Many people look at training, attend seminars or workshops, and never implement what they learned.

The sales clock is back at zero…everyone starts in the same place.  Where you go from here, is up to YOU!

As you embark on this journey, remember that success in sales is not merely about hitting quotas—it’s about delivering value, solving problems, and making a meaningful impact on your clients’ lives. So, as you raise a toast to the new year, raise the bar for your sales performance as well. With the right mindset, strategies, and determination, the coming year holds boundless opportunities for those willing to seize them. Here’s to 2024, brimming with sales success!

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Where are your people spending their time in Q4?

It’s the fourth quarter of 2023. Time for total accountability from each salesperson.

What are the “MUST ACHIEVE” Sales Goals in Q4?

Once the goals for Q4 are in placeaccountability for time and Sales activity (behaviors) is the next critical component. 

YOU MUST KNOW: “Where are your salespeople spending their time?”

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The Power of Listening: Unveiling Buyer Motives

In the dynamic landscape of sales, one skill stands out as a game-changer: listening. A salesperson’s ability to truly listen can be the difference between a successful deal and a missed opportunity. Why is listening so critical? Because it holds the key to uncovering a buyer’s motives, needs, and desires.

The Art of Asking the Right Questions: Asking questions is an essential part of any sales conversation, but the quality of those questions matters just as much as the act of asking. Thoughtfully crafted questions serve as a gateway to the buyer’s world, giving insight into their challenges, goals, and pain points. These questions pave the way for a deeper understanding of the buyer’s perspective, allowing the salesperson to tailor their approach and solutions accordingly.

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