Many customers believe if they wait until the 11th hour to sign a deal, they will be rewarded with discounts or more favorable terms. This is particularly true if you or your company have offered such fire sales in the past.
Following are things you can do to ensure they do sign with your company by the end of the year, and on terms that are favorable to you.
Understand your prospect’s buying process. Make sure you know all of the stakeholders and players that need to be involved in the buying process, and that they will be available so a contract is signed by month’s end.
Be sure your prospect adequately articulates why you’re worth it. You’re relying on your contact at a company to help you justify your value proposition. Make sure that information is accurate.
Anticipate last-minute objections. It is important to underscore the need to predict questions a prospect might not have addressed. This is also an opportunity to again demonstrate your offerings’ value and differentiation.
Understand how you’re being differentiated. Being able to handle objections also means you must really understand what makes you different from competitors. Often at end of buying cycle a prospect will present a less expensive alternative, and you realize you haven’t differentiated your company by value as well as you believed. Make sure the uniqueness of your solution is top of mind.
Everybody wants the best deal possible, and your customers are no different. You can help them – and you – end the year on a positive, promising note by making sure you are not blindsided by last-minute delays. Make sure everyone stays on the same page and you’ll close one timely chapter and open another in what can be a long-running business relationship.
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