For businesses, the ability to close deals is crucial. The longer the sales cycle, the more time the customer has to alter the deal or reconsider it and the lesser the probability of closing it.
When a deal is closed in one meeting, the backend sales work for the business reduces significantly. All the email back-and-forth, changes to the proposal, follow up with customer and client visits can be avoided. This isn’t just money saved, but also an opportunity to be efficient with your sales process, thereby giving you more time to go after other deals.
But how do you close a sale in one meeting? Closing a deal is not just about that single client meeting, but also about tasks you’d do before and after the meeting. Here’s a step-by-step recommendation on how to set up your sales process in order to close the sale quickly:
STEP 1: CAPTURE
Capturing the right lead is important. Set up contact forms on your website and on your Facebook page. Implement a simple referral program so your existing customers can refer new contacts and get an incentive for it. The referral leads have high potential for single-meeting sale closures, so ensure your existing customers are rightly incentivized to refer other customers.
STEP 2: PREPARE
Reach out as soon as possible when the lead contacts you. The time you take to respond can determine if you’ll even get a meeting — remember the lead is reaching out to your competitors as well. Do some quick research before you call the lead, especially if it’s a corporate lead. On the call, get as much information as you can — their needs, schedule, budget, constraints, competitors and more.
Connect with customers on social media — this will help with future marketing. Prep for the meeting — get all needed collateral, research possible objections and learn about your competitors.
STEP 3: MEET THE CUSTOMER
Meet the customer and showcase your work. Carry your physical or digital catalog and examples of your work. Tools like MyBusinessGenie help you showcase your work and close deals using your tablet device during meetings.
Collaborate during the meeting — propose different solutions, discuss concepts and ideas — show examples visually where possible. Talk through your services and solutions. Be thorough and answer all questions.
STEP 4: CLOSE THE DEAL
Now that you have their attention, closing the deal is the key. Create a quick estimate or a quote on the tablet. If the customer buys it, then congratulations! If not, create a sense of urgency by throwing a time-sensitive discount.
Highlight the customer’s pain, and show how you’ll solve it quickly. Talk about your possible unavailability if the client can’t decide soon. Finally, coach your customers on how to evaluate vendors for these services, if they’re talking to your competitors as well.
STEP 5: WRAP UP
If you’ve closed the deal, don’t leave yet. Get efficient and streamline your processes and systems. Write up a contract and bring it to the meeting so you can incorporate any changes. If you can, get the customer to sign it. Get digital contracts on your tablet to eliminate manual updates.
Take a payment and set up future payment schedule. Be sure to block your calendars to avoid conflicts.
STEP 6: FOLLOW UP
If you haven’t closed the deal, don’t forget to follow up. Send a “thank you” note and pass along anything the prospect may find useful.
Lastly, the easiest way to stay in touch is by connecting with them on social media. Give updates about what you’re working on, so that you’re top of the mind when the next opportunity arises.
Hopefully, you’ll be able to implement these steps in your sales process. Additionally, get a 58-point downloadable checklist on how to close a sale in one meeting from here.
Venu Gooty is the founder of Genie Labs and has helped SMBs and enterprises with technology solutions. MyBusinessGenie is its flagship product that helps small businesses in managing their day-to-day businesses online via tablet devices. He can be reached at [email protected].