- September 8, 2019
How to Close a Deal
We are not all built to close a deal, some of us are great at getting the meetings, others produce Oscar-worthy presentations, some are investment banking CRM software masters, others are closers. The person closing the deal has finesse, they know the pain points, they can identify the need, and they can press the pressure to buy button just enough to make it work. It is a skill, it is an art – and sometimes you might find you are the one who needs to get the job done.
So if your time is coming around, and you want to be ready to step up to the plate, then here are some tips for you.
Every industry and every company will have a range of people. Some will say they are the decision-makers, and some actually will be. It is often the case that in the first meeting, you will get someone who is sent in lieu of the real deal. They are there to get all of the details and figure out if you are worth the main person time. Pitch to them as if they are the only person that matters in the world. Don’t waste time on fluff, they are there for details.
If you are overreaching with what you are able to offer, they will be able to sense that a mile off. In fact, they won’t even be fully engaged after the first pie in the sky number you give them. So be honest with what you are offering and what you can genuinely deliver. Authenticity isn’t just a buzzword, it is what takes people from maybe to handshaking. There is a difference between being ready for any questions and looking like a try-hard.
Your time is precious and so is theirs, so why are you waiting? There is a deadline on that deal because, of course, you are pitching to their competitors too. Or you are currently offering a discount. Or your ‘best, most senior XYZ’ is available for this. You aren’t trying to rush them per se, what you are trying to do is to impress upon them that this is time sensitive and you are a perfect choice, and this is the perfect time.
There will be a few objections. Can you handle the size of the account, have you dealt with a business like this before? Did you read the news this morning about the impact that X might have on Y and will that impact what they are doing? There will be some that aren’t relevant. Instead of saying that they aren’t connected, address the concerns but make it clear they will have no impact on you. Before you go in that room, sit with your team and ask them to give you every single reason that they wouldn’t go with the pitch, think about the objections and be ready.
You are obviously going to be pitching against other people and companies. You won’t always be privy to who they are, but it pays to keep your ear to the ground and know as much as you can about companies that either specialize in this area. You are looking for areas that you as a company are better, and then you can gently highlight them.
Confidence and knowledge is the key to closing any deal.