You’re getting plenty of leads. You’re sitting them down for that first conversation. You think you’ve done a good job selling the prospects on your product or service and your company, but you keep hitting a wall. Whenever it comes time to close the deal, it all comes apart. The customer dawdles, or even walks away entirely. What’s happening here? Why can’t your salespeople close, and what can you do to fix it?
Your sales team’s prospects stall or wait to buy.
When your salespeople are negotiating with prospects, do they feel any urgency to buy? Or do they stall, and say that they want to “think it over” or even “shop around”? Your sales team has to take the initiative, and push sales forward through the pipeline – rather than letting them sit and close the deal.
You give away too much without a commitment, and end up an unpaid consultant.
Your customers know you’re an expert, and that’s good for business. But that expertise in your field can become a liability as well. If you find yourself talking through solutions to client problems in detail, you can really limit your ability to sell. Make sure you get a commitment from a client before you give too much away for free.
When prospects push back on price, you give way.
Money is an uncomfortable subject for some, but in sales it’s a part of the trade. You have to talk pricing, and prospects aren’t always going to accept your initial quote. If your sales team is unable or unwilling to resist pressure on price, they’re likely to use discounts to make sales – and that will hurt the company’s margins even if sales are high.
Forecasting is suffering.
If you don’t know what’s coming, you can’t plan for it. Low close rates, salespeople taking too long or longer than planned to close business, and even just inaccurate reporting all greatly hamper your ability to forecast. And that means that your ability to plan the future of your business is crippled.
Your sales team’s pipelines are bloated.
Pipelines should always be full, or close to it. As sales close they should be replaced by new prospects. But a full pipeline doesn’t always mean the job is being done right. If sales aren’t closing, the pipeline will appear full just as if they were – only no movement is occurring. This bloat hurts your ability to forecast, and it obviously results in no income.