That’s why I’ve emphasized the need to show an ROI earlier on. It’s how you can win over the CFO and the legal team.
Even if ROI is clear, the prospect might make the case for a lower price by comparing your cost to the cost of other solutions on the market, the cost of their current solution, or their budget. Be prepared to address any discrepancies here, and come with a discount or price cut option in your back pocket to sweeten the deal (more on that below).
the deal or asking for unreasonable concessions, lean on stakeholders who are completely bought in to help expedite things on their end.
7. Close the deal
Many people say closing is the hardest part of the sales cycle, but it doesn’t have to be. If you’ve done everything else right – there’s a fit, you’re solving a problem, you can prove ROI, you have the right people engaged – closing the deal is the easiest part of the whole process. You really don’t have to close very hard if you’re helping the business.
But let’s say you’ve presented the deal paperwork, and the signature afghanistan phone number list line is still blank. There are a few closing techniques to seal the deal.
For example, there’s “The Take Away Close” where you suggest that your prospect may not qualify for your solution if circumstances change. This is reverse psychology and it works because people want what they can’t have. Then there’s the “Alternative Choice Close” where you offer two payment options (ex. a 60-month and a 36-month term) and ask them which one they prefer. This gives them two options for saying yes instead of an option for saying no. Finally, there’s “The Potential Cost Close” where you hammer on the cost of not buying your solution.
Sales cycle best practices
The good news is that you don’t reinvent the sales cycle wheel, because there are tried-and-true best practices you can follow. These include measuring and adapting to the data, using relationship-selling techniques, and always coming back to your sales plan. Let’s take a look.