Transforming a prospect into a client and clinching a new deal requires you to follow a sales process to maximize the chance of signing contracts.
Indeed, the time between your first contact with the decision maker and the actual signing of the new deal takes over a few months, especially in the Business-to-Business (B2B) world. I have observed from 10 years of experience in B2B sales that it normally calls for 6 to 24 months to finalize a deal (for contracts over a million dollars).
In addition, it is a necessity to hold at least between 5 and 10 Face-to-Face (F2F) meetings in B2B markets with the future clients to prepare a customized offer, involving all internal resources and teams. This process generates a Unique Selling Proposition (USP model) to gain an edge over your main competitors. Certainly, if you tailor your proposal to future clients, you will increase the chance of signing the contract.
In practice, if your prospect is receptive to your personalized offer, because you are an expert in your sales field, you will accomplish a “Green flag” to clinch the deal! On the other hand, if your prospect opposes your solution (prices, relationships, services proposed, etc.) and you are not able to present a differentiation, it will become a “Red flag”. Therefore, it is imperative to put all your internal resources into place to avoid this!
Generally, I start my first contact with prospects at events, tradeshows, by networking, social selling or cold calling. When a prospect accepts the first meeting and allows me to present my company and services, I need to collect his or her main requirements, using the SPIN selling global method. Subsequently, I co-build a customized offer regarding the client needs to form a solid partnership.
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