The point at which a lead has finally matured to where conversion is possible is the most critical stage in the sales funnel. At this point of maximum investment from your team, it is imperative that the conversion is given the greatest probability of success. This comes from recognizing the needs of the prospect, putting forth an adequate proposal, and finally closing the sale in a win-win manner.
Needs Analysis: Everyone dreads a sales conversation, with the haggling, inauthenticity, and one-sided nature of the talk. However, by working to create a long-term relationship with the prospect up to this point, conversations of this nature never need to happen. Instead, having shown the potential customer that your business has their best interests at heart and is seeking a win-win solution, an honest conversation about their needs can be had.
Regardless of the formal sales approach used, BIG assists clients with identifying the needs of the customer and positioning their product as the best solution to those needs – assuming it actually is. The only thing worse than missing a sale is making a bad sale.
Proposal: Once you have an idea of the client's actual needs, you can construct a proposal that answers how you can address those needs. BIG provides our clients with the needed assistance in crafting proposals. This is one place where a learning curve is too expensive to climb.
Proposals are not always written either, even if the deal concludes in a contract. Oftentimes proposals are put forth as a presentation or informal conversation. Your sales team must always be ready for the moment when it arises.
Closing: Everyone loves closing and getting their coffee. A close where everyone wins is best not only for the customer but for your company as well, and closing the second deal is exponentially easier than closing the first. However, if it becomes obvious that the deal is not going to close, it is better to lose fast than to lose slowly. Sales teams must always avoid chasing sunk costs and know when to cut their losses.
With the proper sales pipeline and content strategy in place, this shouldn’t often be an issue. BIG helps our clients through the entire conversion process to achieve the results they need.