Sometimes, you’re a few weeks away from end-of-quarter and your sales goals might seem unachievable.
And at the same time, you come across a few salespeople who possess the ability to push beyond capacity and take leaps close to the finish line. As end-of-quarter approaches, they switch regular sales strategies for tactics to accelerate conversions and crush sales quotas.
These last-minute, closing strong strategies are usually also responsible for beginning the next quarter ahead of goals and getting that extra push to begin the sales year.
Also Read: 21 Sales Statistics That Will Help You Close More Deals
Here are a few end-of-quarter strategies that can help you meet your sales goals and provide a head-start on the subsequent quarter:
One of the biggest mistakes that salespeople make is neglecting to follow-up an adequate number of times. Most sales folks give up after the second or the third interaction.
Maintaining contact and staying at the top of mind of prospects is critical. The accounts that you prioritize should be allocated the most time for follow-ups and support.
Your serious prospects generally fall into two categories in the purchase spectrum. People who are interested in your product, and those who are also actively reviewing all available solutions.
In both cases, it becomes crucial to be on the top-of-mind because of the former needing extra-pushing. As your product is not a primary concern, the second needs constant reminding to keep your product in the game. You could even go as far as compare your product with the others in the industry when dealing with prospects.
In fact, you could always be straight and ask them what your competition is offering that you might be able to address or match to tip the scales in your favour.
How do you know which of your opportunities will convert by the end of the quarter?
Go through your CRM records and call recordings and evaluate the conversations you have had so far. Then focus on the ones which sound more positive. AI-powered cloud telephony tools like keyword spotting will help you quickly identify which sales conversations had more positive outcomes.
Don’t hesitate to ask your prospects when they might forecast the deal to close in the coming weeks. You could even explain what your deadlines are and bluntly ask your prospects if the deal is likely to close before the end of the month. This way, you can set aside the deals that might take more work or a longer duration of time, and focus on the ones that show promise to close quickly.
Most salespeople hesitate to ask this question because they are afraid that they would lose the deal. However, high performing salespeople know that avoiding the truth will not get them anywhere. Rather, it will waste their time and slow them down.
There’s no better way to pull off a sale close to the finish line than being honest with your prospects.
Also Read: 6 Tips to Convince Your Sales Team to Start Social Selling
The last hurdles between prospects and conversions are usually overcome by providing extra-motivation in terms of special discounts, services or customizations. Prospects are always asking for what seems to be that final push that will encourage them to take the plunge.
As you get closer to end-of-quarter, it becomes important to evaluate what these are for each serious prospect. They may vary from prospect to prospect, and mass-discounts may not be the most elegant solution.
Once you are privy to what you need to provide from your end, always respond with a ‘yes, if requested’. Even if the special discounts or customizations are within the scope of what you usually give clients, it’s important that you evaluate how long closing might take before offering them to prospects.
For instance, ask them if you agree to their terms or if they would be able to authorize the deal by end-of-quarter, or pass on the information to higher-ups responsible for making the call even earlier.
You could accelerate the process by being available for questions real-time via live chat using software like Tagove.
Attempt to identify that perfect price point or integration quirk that will get the job done. Promise to get approval on the condition that they hurry up their decision-making process.
Every conversation you have with a prospect matters because they hold insights that you can use to evaluate and motivate prospects. It’s important to go into them with the intention of uncovering important concerns and what you can do to ease the path of purchase.
Even trivial details that seem unimportant could aid a conversion, so it’s important for you to take above-average notes. Sometimes, the notes you take during passed opportunities hold the answers to why you’re not able to drive conversions.
People reveal needs, concerns and challenges usually in the most unassuming manner. You have to make note of the subtle undertones to arrive at conclusions that can aid your follow-up calls.
**Also Read: **How to Stop Chasing Leads Who Will Never Buy and Start Selling to Your Ideal Customers
Detailed notes can also help you classify and forecast conversions, against prospects who are stalling or unlikely to make the final call. The more organized your notes are, the more efficiently you can pursue your sales goals and meet them. If you have an inside sales team and have your call recordings, that’s the simplest way to identify prospect concerns that you might have missed before.
Be persistent, focus on the right prospects, go deeper into what they want and give them incentives to close. Do this right and you will have no trouble exceeding your quarterly goals.