- (The) Secret Sales Pro
- Posts
- Closing Time
Welcome back, Sales Pros!
I hope you’ve had a great break. Mine included generous amounts of non-traditional food and a (fairly) relaxed time with family. It occurs to me - not for the first time - that Sales is no different from life in general: Realistic expectation setting helps things go more smoothly.
Thanks for showing up in a timely manner and extra house points to those who came in early, updated the CRM and weeded out their pipeline.
When we were last gathered here we discussed some of the finer points of how to trade a pricing concession (also known as a discount) for something that is of value to us as Sales Pros such as a timely close or a reference. In our scenario we told the prospect to expect our signature ready paperwork by noon of the 27th of December, so let’s be sure to deliver on that.
The most important bit of communication is, of course, the message we send with the paperwork. The following are the notes I make sure to always hit at this stage:
White space between the letters: Leave plenty, this message should be as short and to the point as possible.
Reference to your most recent communication “I have been able to secure the conditions we discussed last week, please note these are valid until 28 December of this year and signed/completed paperwork needs to have been received by us no later than 5pm”
Announce that (and how) as well as why you are going to chase their signature/returned paperwork. A casual but honest wording has always worked for me: “Our fiscal year ends on the 31st and the VP of Sales has us all submit an updated forecast twice a day. I will likely send you an email asking ‘are we still on track to close this on the 28th?’ at some point this afternoon and again tomorrow around noon - any brief update you may have at such time is greatly appreciated.”
Another reference as to how signed/completed paperwork needs to be returned - your contact should not have to refer to more than one email to complete the order.
Depending on the rapport you have with the prospect and the cultural context make it implicitly or explicitly clear that: Firstly, you are reliable and trustworthy. Secondly that you appreciate their honesty above all. Sales Pros who build good rapport and use a message such as “if at any point we are not on track to close by 5pm on the 28th anymore please let me know as soon as you can” know when their transactions are in trouble. Sure, hearing your deal has slipped (or fallen through altogether) isn’t great, but take it from me: You are much better off knowing. Wherever possible make it clear that you appreciate honesty whether the news is good or bad.
Include the best way to reach you for last minute questions or issues. Choose your weapon wisely!
Before we get that paperwork out the door a quick discussion of the medium, by which I mean should the above be an email or should it be a discussion on the phone?
The answer is it depends. You know the prospect best and should have an appreciation of their favoured mode of communication. I would however recommend a belt and braces approach: If you communicate the above points on the phone I still recommend putting the bare bones into an email. You never know when a task (or part of it) gets pushed to a colleague or an assistant. All you know is that they’re likely not to have listened in on your phone conversation. A concise email typically does the job.
At this point we’re ready for a top-up of your caffeine-based drink of choice. A single measure only though - this is not the time to get giddy. Yet.
The secret to making the rest of the process work is to stay on track. So far we have told the prospect what we were going to do, then we did precisely what we said we would so (eg. deliver signature ready paperwork including the agreed discount by noon today.) Whether your VP of Sales actually chases your forecast or not - send the emails you told them about this afternoon and lunchtime tomorrow.
This moment of uncertainty you’re in now - not knowing whether the deal will come this - this is what you you’re here for. Anyone can learn how to set up a quote. Anyone can learn to ask questions and figure out whether the prospect has an adequate budget. Submitting your forecast to your boss and their boss saying “80% of this business is going to be in by Friday” and meaning it - not everyone’s cut out for that. Even fewer are cut out for actually making it happen.
Two more things before I let you go:
Firstly, whenever we do something worthwhile, whether it’s participating in a sporting contest, asking someone out on a date or pitching a deal, we must accept and I would suggest embrace both possible outcomes: A ‘W’ or an ‘L.’ Sure, we’ll do what is legally, morally and reasonably possible to take the win, but we have to accept that if may just not work out. Realism is a sign of maturity and maturity is hard requirement for this job role.
Finally, while you wait for your paperwork to come through, this is one of the few times of year where there may a very limited number of things you can do. Prospecting and other marketing activities are not well suited to the dying days of December.
At the best company I ever worked for as an employee there was a saying: “Go sell something - and if for some reason you can’t - go help somebody who’s selling something.” Do that. It’ll pay off in both expected und unexpected ways.
Happy closing always & see you back here soon.
Reply