Any salesperson will tell you, there’s nothing more painful than a stagnant deal in the pipeline. You've listened to our prospect's success stories but, more importantly, their pains. You've shown them your solution, and how you can provide value to them. You'll plan to connect the following week, then you have to reschedule, and then suddenly there’s no movement. Redlines are taking longer than discussed. Here is what you do when deals get stagnant and how you should approach your prospect.
Following up with your client is the first thing you do when deals start to get stagnant. Normally following up consistently is something you do during the early stage of the sales cycle. If you haven’t heard back. In this stage you’ve made there it has already been it’s best to try and follow up with them once a week if possible. You want to be able to stay top of mind. But there are so many times you can reach out. It’s all about checking in without trying to seem pushy. If you need help figuring out what makes a good follow-up, check it out here. If you ever need help writing a good follow-up check out the art of the follow-up.
If you want to pick the attention back up between you and your prospect, try sending them something to provide immediate value. Key Outreach is heavily outsourced for SDR efforts across various industries, requiring us to keep up with the new trends that are going on. We try to send our clients new findings, offerings that could be of benefit to them, or even discounts that might be available. You want to entice your prospects to follow up and work closer to the deal. Sending our clients something with immediate value also shows that we are thinking about them. It’s not just about trying to sell to your prospects, you need to build a relationship and gain their trust. It’s important to factor to push deals across the finish line.
Let’s say you are able to get on a follow-up call with a lead that has been stagnant. We find out on the call that our prospects are not ready to move forward. Don’t take it personally as there could be a bunch of factors. The prospect could still be figuring out their budget or dealing with an all-hands deck type of situation. There’s also a chance they could be looking at other options to outsource their SDR needs. During times like this, it’s best to ask for transparency. Ask why things are slowing down or if there are any reservations they might have to move forward. This will give you an opportunity to show the value you provide.
Prospects often slow down during the final stages of closing a deal. For some companies, if the product or service doesn’t work for them, it can put them at risk. It’s not that they lack confidence in your product, it’s more so they are worried about the consequences on their end. Their work reputation and possibly their job could be at risk. Prospects are looking to stretch their budgets for the entire year and are looking to hit their ROIs and KPIs for the year. If they don’t it might have an effect on their performance. To move them forward, try following up with them with social proof. Some examples of this could be:
By showing proof you are reinforcing your service and how valuable it can be for them. They will be able to see how other clients or competitors have seen success since working with you. Sometimes prospects need a little push and social proof can always help give them the push that they need.
Stagnant deals are never easy to push through. It takes perseverance, patience, and a little bit of creativity. There are many ways to close a deal, it’s all about knowing your relationship with your prospect and figuring out the best way to communicate that we are here to provide value. If you’re having trouble getting deals across the line, Key Outreach specializes in setting high-quality meetings with decision-makers, working as an extension of your team. Contact us now to outsource your SDR efforts, enabling your team to focus on closing deals in the pipeline.