6 best ways to increase closing rate today – News Couple

6 best ways to increase closing rate today

Percentages are important in sales, not least because commission checks are calculated as a percentage of our monthly quotas. Percentages are also a factor in a lot of our decision-making, including what percentage of our day we choose to devote to prospecting versus follow-up and administrative work (Spiro can help you eliminate a lot of the latter).

But there is one ratio that is perhaps more important to salespeople than others: the closing ratio. This is the percentage of leads that convert to closed deals – salespeople should always think about optimization, especially if they want to increase their commission checks as well.

But how does one increase close, especially when we are all so focused on closing deals that we don’t usually have time to get into the weeds with our numbers?

Although there is no foolproof way to ensure a high shutdown rate, doing the following things will definitely help you:

1. Define (then refine) your value proposition

Why If the potential client deals with you and your company, and most importantly, How do Does your product solve problems and provide more value than the alternative(s)? You should be able to answer this question easily, and if you can’t, you need to make finding the answer a top priority. Once you have defined your value proposition, simplify it and make it easier for everyone else to understand. Define, then fine-tune your value prop. It’s one of the most important things a salesperson can do.

2. Spend more time learning about the possibility

While most of us are well aware not to waste time on things that might not work, one of the places you don’t want to skimp is researching potential clients. To be clear, you don’t want to spend hours and hours reading every little bit of detail you come across, but it’s important to have the proper context when dealing with the people whose business you ask. Not only will you be a more informed seller, but the potential customer will appreciate the fact that you took the time to learn.

3. Approach each conversation with an outcome in mind

One of the most impactful ways you can ensure that you achieve your goals is by taking a concrete next step before every interaction with a customer. This means you always have a “question,” whether it’s just booking another meeting, requesting a signed contract, or scheduling an appointment to present options to other stakeholders. Although this may seem like an exaggeration, it will not only make you responsible, but will ensure that the sale goes as quickly and efficiently as possible.

4. Make time to connect with old prospects

Some of the best opportunities for a salesperson are not in the future, they have been in the past. Always review the list of potential clients and follow up with the people you’ve talked to in the past, as you’ll have the advantage of connecting with people who already know you. While the closing rate on these leads won’t be high, there’s a good chance you’ll find some gems that are in a better position to buy than they were before – and you won’t have to rely on any new leads to find them.

5. Ask for referrals

While referrals have some of the highest sales closing percentages, few salespeople (and a few organizations) actually have a formal referral process in place. Instead of fidgeting and hoping for a referral to magically pop up, make sure you have a formal referral process in place, whether it’s automated, or simply – and perhaps more efficient – ask after each (successful) client transaction. Do not leave referrals to fate. Make sure you are not afraid to ask, otherwise you may be waiting for a long time.

6. Make things as easy as possible for the potential customer

At the end of the day, potential customers want things to be easy. This means that you should always strive to put yourself in the shoes of the potential client and think about what you are asking of them. All too often, salespeople place the burden on the potential customer rather than their own, asking them to do the research, work, and other things that make the idea of ​​doing business a chore, not a positive experience. Salespeople who turn this on its head and make it a point to make the prospect’s life (and the buying process) as easy as possible will gain an advantage over their competitors and see their closing percentage increase accordingly.

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