When it comes to sales, there are a lot of things that can go wrong. In fact, studies show that the majority of sales deals fall through because of mistakes made by the salesperson.
This can be costly for your business, so it's important to learn what these mistakes are and how to avoid them.
In this blog post, we will discuss some of the worst mistakes in sales and how you can prevent them from costing you deals!.Only trying to close once
One of the most common mistakes salespeople make is only trying to close once. There is no perfect time to 'close' a deal, and salespeople should be looking to close multiple times throughout the sales process.
What we mean by this, is that you should always be looking for ways to move the deal forward and get closer to a sale.
If you only try to close once, you're missing out on opportunities to build rapport, establish trust, and create value for your potential customer.
There are a couple of reasons why this mistake is so costly.
Firstly, it puts all the pressure on the one 'close' attempt, which can often lead to rushed or premature decisions. Trying to close too early can also put the potential customer on the defensive, which is never a good position to be in.
Secondly, by only trying to close once, you're effectively giving up after the first 'no'. If you think of each sale as an incremental process, then you can see how giving up at the first 'no' is missing out on a lot of potential sales.
The solution to this mistake is relatively simple: don't try to close the sale on the first meeting. Instead, focus on building rapport and trust, and creating value for the potential customer. By taking this approach, you'll find that closing the sale becomes much easier.Not asking for what you want upfront
Another common mistake salespeople make is to skirt around the issue of what they want from the potential customer. The fear of rejection at an early stage leads them to shy away from asking for what they want, whether that's a commitment to meet again or an actual purchase.
The result of this approach is that the salesperson wastes a lot of time going back and forth without ever getting to the point. Not only is this a huge waste of time, but it also puts the potential customer off as they can see that the salesperson is avoiding the real issue.
At some point in any negotiation, you'll need to take a stand and ask for what you want. The key is to do it in a way that's respectful and confident, without putting the other person on the spot. If you can master this skill, you'll be well on your way to closing more deals.
Being upfront also minimizes the amount of wasted time and resources spent on pursuing a deal that's not going to happen. By being honest about your position and what you're looking for, you can save everyone involved a lot of time and energy.Not taking into account the customer's needs
Understanding the customer's needs is essential to being able to sell them the right product or service. If you don't take the time to understand their needs, you'll likely end up selling them something that isn't a good fit, which will cost you the deal.
Make sure you spend enough time getting to know your customers and what they're looking for before you start trying to sell them something.
The initial discovery call is a great time to start learning about your customer and what they need. Make sure you ask plenty of questions and really listen to the answers.
While closing the sale is important, proving an effective solution to the customer's problem is even more so. If you're not able to provide a solution that meets their needs, you'll never close the sale.Using statements instead of questions
This is a fairly simple one, but it comes up a lot. When you're trying to close a deal, make sure you're using questions instead of statements.
Asking questions allows you to further qualify the opportunity and understand the customer's needs. It also shows that you're interested in their business and want to help them succeed.
On the other hand, making statements implies that you already have the answers. This can come across as arrogant and turn the customer off.
When a customer raises an objection, it's important to take the time to understand what they're really saying. Asking the right questions can help you negotiate around the objection and get to a mutually agreeable solution. Simply boarding them with statements will only make them defensive and less likely to do business with you.How MiClient can help you close the deal
As an all in one CRM-CPQ tool, MiClient provides salespeople with a platform to manage their entire sales process from start to finish. This includes features like in-built communication options, CLM, and an E-signer.
Additionally, MiClient's visual pipeline gives sales teams a clear overview of where each deal is in the sales cycle. This helps managers identify any potential bottlenecks and take corrective measures accordingly.
When it comes to closing a deal, MiClient's E-signer feature allows salespeople to get contracts signed quickly and easily. This not only saves time but also reduces the risk of lost deals due to paperwork delays.
In short, MiClient is the perfect tool for sales teams looking to streamline their workflow and close deals faster. To find out how MiClient can help you close more deals, request a demo today