Want a higher close ratio?

It is relatively early in the fiscal year for most companies.  If your year did not start as you hoped and/or was derailed by the coronavirus situation, now is a good time to look at how you can get more out of your effort.  While working harder may result in more deals closing, adjustments in the steps you take toward closing a deal may be more productive.  What approach can reveal potential improvements? 

Focus on information and accuracy

Audra Lavoie, who runs an Alumni Engagement program for the University of Rhode Island, tells alumni that interviewing is about “information and accuracy”.  It is her way of communicating with people not sales oriented.  She is also right on target when it comes to selling! 

How can you apply Audra’s approach?  Review your sales process with the following considerations in mind.  It will be important to compare deals that have not closed to some that have.

  • What information do you have about the opportunity before you contact the customer?
    • My posts on 2/18 and 2/20 provide more detail
  • What information are you gathering when you are in front of the customer?
  • How well does your proposal communicate the value your company offers?
  • How well does your proposal align with the customer’s interests?
  • What is your approach to presenting your proposals?
  • How are you approaching following up on proposals?

Decide on adjustments

Keep a list of suggested improvements as you review.  Try not to judge or eliminate any ideas at the beginning of your review.  Once you have a list of ideas, prioritize those you believe will have the greatest return.

Making adjustments may require input and engagement from others in your organization.  Review the prioritized list with those internal contacts and try to finalize the list.

Make adjustments at a digestible pace

Considering your organization still needs to drive business while you are making adjustments, it is important to consider the pace at which changes are made.  Taking this approach will also enable you to see the impact of each change and will provide answers regarding where time should be invested going forward.

Feel free to contact me directly for ideas and/or help on this topic.