They focus on the seller. And sellers do not close deals, buyers close deals.
If you are a seller, all you can do is guide. You can guide the buyer to understand the value of partnering with you. You guide the buyer through their internal purchasing process.
There has been an explosion of sales methodologies in the last decade. Lucid Charts has a blog that lists 15 major methodologies.
All of these methodologies are likely to fail because they start with the seller, not the buyer. They are also complicated to put into practice, requiring agreement and shared definitions on dozens of different terms.
To close more deals faster, build your own sales process by adopting this one simple practice:
–> Use “the last 10 minutes” of every call to ask your buyers to take actions that move you both closer to a partnership…and a close!
Closing is a mutual process, not a sales process. And, here is the hard truth: The actions your buyers take matter a whole lot more than the actions you as the seller take.
So, simplify your sales process by agreeing on buyer actions for each sales stage:
–> What are the one, two, or three actions at each pipeline stage you need your buyer to take to show they are committed to building readiness to partner with you?
What are some “buyer asks” you can make to show a commitment to action:
- Can they confirm the key areas of fit or value they see in a partnership?
- Can they share how working together might make them more successful?
- Can they identify who on their side should join our next call? And why?
- Can they confirm the timeline they are considering to start a partnership?
- Can they share how a product like ours is typically funded?
- Can they share other vendors you are considering? Or how they view our strengths and weaknesses relative to other options being considered including internal?
- Will they pull up their calendar, and agree on a placeholder for our next call? Are they inviting more of their colleagues?
Teams who use the last 10 minutes to make effective buyer asks close their deals at a 40% to 45% higher rate than teams who do not.
- They more quickly separate the “tire kickers” from legitimate buyers.
- They give their buyer a roadmap to manage their own internal buying process.
- They spend time and focus on the deals with the highest likelihood to close.
Sales process is often overly complicated, but it doesn’t have to be. You just need to focus and agree as a team on the right buyer actions stage by stage to mature and progress your deals.