The War Room

How many times do you close in a sales cycle? (Part 2)

Happy Friday, you lovely humans..and to the lizard people in this community, greetings.

So, yesterday I posted a poll that asked how many times you close throughout your deal cycles, and I appreciate all those that voted and @funcoupons @WCK @paddy @CuriousFox @UrAssIsSaaS @BigMeech @GrizzleMcThornBody @avocadobegood @Justatitle and @HindsightHarry for engaging with comments. This is what drives discussion, and we love to see it.

Anyways this post was spurred after watching this video from John Barrows:

The content dives into how to improve your close rate, and what I took away from that is that you have to close multiple times throughout the deal cycle to get to the big finish: a won deal.

Closing happens:

  • On your first cold call: booking a demo
  • On your discovery call: upfront contract (only Sandler bit that I like)
  • On your discovery call: setting clear next steps that everyone agrees to
  • On your demo: upfront contract
  • On your demo: setting clear next steps
  • On your legal and finance call: upfront contract
  • On your legal and finance call: pricing and redline agreements
  • On your legal and finance call: setting clear next steps
  • On your closing call: upfront contract
  • On your closing call: trial close
  • On your closing call: verbal yes
  • Post-sale: Asking for referrals

There could be dozens more sprinkled in, but you get the point. You are constantly closing during the deal.

Now, 26 of you said you close one. Let me ask each of you this: what is your current close rate? How could you improve it if you got more "closes" during the sales process? I reckon it would improve dramatically, or at the very least, help you close-lost more deals early in the pipeline rather than being ghosted at the end of the process.

I would strongly suggest that each of you take the time to watch that demo at some point in the next week and see what you can do to improve your pipeline in August, and the last month of Q3. Maybe you add it to your post-call notes with a "close(s) from this call" section. Use that to drive urgency and use it, to be honest with yourself: is this deal real, or am I wasting time?

Anyways, if you are reading this far...Go Pats.

📈 Closing
🥎 Training
🔥 Revenue
WR Officer
King of the Coors Knights
This is some absolute fire content @poweredbycaffeine. I absolutely agree, you should always be asking for something… next steps, access to authority, referrals, etc.
WR Officer
that's queen coups to u
Thank you for this, we appreciate you!

I completely agree - if you go into sales thinking you only have to close prospects once per deal you're gonna have a bad time. Closing needs to be top of mind every time you speak with a prospect. 
Notorious Answer
Padre de Tequila, General of the Coors Knights
Now see, we see eye to eye the entire post.... And then you end it with "Go Pats". This is where our friendship hits a wall, Bean Boi. I still love you though ❤️ 
WR Lieutenant
Bean Juice Drinker | Sales Savant
Can we align on something? Like Jets suck?
Notorious Answer
Padre de Tequila, General of the Coors Knights
I can agree to that!
SaaS Eater
You have no idea how relieved I am right now. But I wholeheartedly agree with this, regardless of the length of you sales cycle you gotta be closing all of the time. 

I call these "gut checks" with my team, and if you "gut check" and get anything short of total buy in, you need to stop, isolate the objection, and confirm buy in before moving onto the next steps. My AE's that do this effectively have a 60%+ close rate. The ones that done are just spraying and praying with like 25% CR's
WR Lieutenant
Bean Juice Drinker | Sales Savant
You escaped the cap...this time.

Love the stats on your reps!
WR Officer
Senior Account Executive
This is the intelligent conversation and guidance that made me want to join the War Room. Thank you for your insight.
WR Officer
Master of Disaster
Not sure how I missed yesterday’s post - went back and read it after seeing this one. 

Thank you for this! It’s kinda the same thing as when I was an athlete - I would never focus on the actual results, just “did I gain something from this experience to make me better next time”. That was the win, not the medal. 

This post helped me see my sales career with the same lens (getting this info was a close, getting them to take a meeting was a close, getting them to let me compete with incumbent is a close, blah blah). Needed the refocus today! 
Notable Contributor
General of The War Room
I love then pipin' hawt 'tent
WR Lieutenant
Bean Juice Drinker | Sales Savant
I haven't a clue what you're trying to tell me, but god damn do I respect it.
MM Account Executive
the only thing i would add to this is that sales gets a fuck of a lot easier once you realize that you're not closing "for a contract" or "for a signature", as you said @poweredbycaffeine  - you aren't just closing once. 

prospects don't give a shit about that, nor your commission, close them on every call to make sure things are moving forward but also because it allows them to reveal themselves to you as a seller ie. is this person full of shit or might they actually put pen to paper for me. the signature, obviously, is a huge part of the process, but what you've really got to sell is the relationship they are opening with your company - because they're still going to be involved once you're off to the next prospect and deal cycle.
WR Lieutenant
Bean Juice Drinker | Sales Savant
Avocado DO be good.
Praised Answer
Account Executive
Reaaaaal goood
Senior Director, Enterprise Technology
High quality content. Horrific “closing” with the Pats stuff 

Always be closing. The step you're on in the sales cycle isn't done until the next step is closed and accepted. 
Big Shot
Great read, opened my mind a bit
Any thoughts on Triangle Selling? Literally just finished the chapter where they talk about this. PLAN Framework to start the call and the Velocity PLAN framework to end the call and set next steps.
Your longest sales cycle
alecabral ,   nreskin ,   Mehak   and 122 people voted
*Voting in this poll no longer yields commission.
Sales Cycle Measurements
How many times do you close in a sales cycle? (Part 1)
In a typical sales cycle I close...
SammySandbags ,   BillyHoyle ,   cw95   and 127 people voted
*Voting in this poll no longer yields commission.