One of the hardest parts of being a sales rep is closing sales deals. You might have put in a load of time and effort, got the potential customer excited and engaged, but there is always that niggling concern that something will go awry and cause the deal to fall through.
In this article we are here to provide you with some extra help! We will look at what closing a sales deal generally entails, how technology and tools can help you to track and close sales, and our five top tips for making sales deals more successful.
What exactly does closing a sales deal entail?
The path to making a successful sales deal may vary depending on your sales strategy, the skills and actions of your reps, and the focus of your business, but in general the structure that gets you to that point will involve:
Identifying and qualifying leads who are a good match for your target audience, and whose needs / wants can be addressed by your products and / or services.
Connecting and building trust as you establish a good relationship, show a good understanding of their pain points, their wants and needs, and addressing their concerns.
Presenting the product which may involve showcasing how it solves their problems, meets their needs, provides value, etc.
Addressing objections and concerns as well as anticipating any frequently asked questions (FAQs) and providing reassurance / additional value.
Asking for the sale with methods such as the direct close, negative assumption close, alternative choice close, etc.
Negotiate terms and ensure that both parties are mutually agreed and satisfied on the proposed outcome.
Secure the deal and provide the information required to finalise the transaction.
Follow-up and nurture the client a crucial stage that builds trust, especially for more complex arrangements or ones that involve multiple transactions over an extended time period.
Being able to keep all of these stages aligned, noted, and the information available to relevant reps can be tricky, which is where sales technology has made a game changing difference to the way lead management and overall sales deals are handled.
How can technology help track and close sales?
Whether you are handling an individual sales deal or have multiples to deal with – you and your reps need to be able to work swiftly, smartly, and consistently to close a sales deal.
Sales technologies such as Customer Relationship Management (CRM) software, team management tools, Business Process Automation (BPA), and strategic Artificial Intelligence (AI) are game changing when it comes to modern sales management.
When you use the right tools, they can help you track and close sales by:
Monitoring and evaluating leads to better prioritise and weigh them.
Assign tasks to the right reps as soon as possible.
Update client accounts in real-time.
Provide templates and tools for consistent and cohesive engagements.
Allow for customisation of important outreach.
Ensure legal and data-protection responsibilities are covered.
TEB provides a unique ability to customise Terms & Conditions (T&Cs) on a granular level. So, no matter how simple or complex your customers needs are, you both know exactly where you stand. This not only helps you to build trust and a positive reputation, but it keeps you covered and protected too.
5 top tips to increase your success rate in closing sales deals
When it comes to closing a sales deal, how you act, what support you have, and the way you approach your customer are all going to have a huge impact on whether or not you close the deal.
Our top 5 tips for helping you make closing more successful are:
Understand your customer with data – Taking a data-driven approach to your lead can allow you to see where they have interacted with you, what times, what platforms, and where their interest lies. By using this information to your advantage, you can better connect and customise your approach strategy.
Determine sales methods on a flexible basis – Rather than choosing a single sales approach and sticking with it regardless, look at who your lead is and what matters to them - if they are more concerned with value, or if they have a specific problem, etc. By being flexible and adapting to their needs, you can act accordingly.
Be open, honest, and consistent – In order to build trust and a rapport, you need to be approachable and honest. In order to build a long-term relationship, you need to be consistent and have set brand tone, voice, and standards.
Be prepared to address their needs – Have responses and answers ready for their questions. Do not just rely on FAQs, use your data to look at who your lead is, what they do, and prepare responses based on what your research tells you they will be interested in.
Prepare to engage with your lead more than once – Relationships are built over time and must be nurtured in order to grow! Use your CRM and calendar tools to monitor communications, correspondence, and check in regularly even after the initial sale has been made.
Track your deals easily with TEB
Give your team the tools to make the most of every lead and opportunity and allow for more sales deals to be closed successfully.
When you work with TEB, you are bringing in a powerful futuristic tool that allows you to take an in-depth look at your data, evaluate your processes and structures, and ensure that your opportunities are ready to be acted upon. Amongst the many benefits your sales team will see with TEB at their side, you can expect:
Automate follow-ups and reminders to keep prospects engaged and drive your conversion rate.
Automated opportunity management with identification of specific factors, allowing for tasks to be assessed, weighted, and even automatically assigned to specific team members.
Identification of conversion factors allowing your sales team to better understand what is appealing to customers and focus their sales pitches to accurately target the points that matter.
Customisable quotes and T&Cs to ensure every customer is getting exactly what they need, and that you are covered for rights, responsibilities, and options no matter how varied they might be.
Bringing TEB into your business will allow your team the time and tools to focus on profitable activities, and for you to fully realise a streamlined and refined sales strategy that works specifically for your niche, needs, and client base.
Contact our team today to book a demo, and see how TEB can help you take your sales to the next level.
TEBillion provided a patient care solution tailored to the specific needs of elderly patients and those with long term conditions to take control and become independent in their healthcare management.
TEBillion delivered a tailored sales process automation solution for a growing technology company to automate and streamline their complex billing processes.
