Lengthening sales cycle

One technique we use all the time is an expiration date for the proposal and pricing. I tie it to reality - e.g., I don't expect them to execute months before they'd be ready - but it gives me dates to pin activities to and a reason to drive some urgency on their end. There's always a reason for any applied discount too, whether it's executive sponsorship on our end for an agreed upon activity or sign-by date. It is one way to make sure it's not an open-ended item that can gather dust for months.

CuriousFox

WR Officer

Senior Account Executive

Yes. With clear, actionable next steps listed for everyone, along with calendar invites for follow up meetings.

detectivegibbles

Sales Director

Bingo. I don't think it needs to be any more complicated than this.

"Customer, it's been awesome working with you and the transparency has been refreshing. To keep that momentum, can we agree to have XYZ answered by ABC date to proceed so our team can meet your deadline?"

Love this. "This ensures that we connect and can catch up with all outstanding items and anything else that arises".

I like that idea, but time based incentives have historically not worked for me in this role. I'm playing with the idea of a shared workspace to hold info and host a mutual action plan. But I need to find one I can buy as an individual

I don't like the random "buy by x date and we'll save you 20%". This is more in line with making sure that pricing proposals have an end date. This then gives a date and a reason to be connecting. Heck, I mention the expiration date when I deliver the proposal to be sure we're aligned on their timeline and goals.

If you choose to include discount in the proposal for any reason, then tie it to some kind of give from the customer - whether it's a signature date, or a reference, or something tangible. They could negotiate those items, but they're talking to you at that point about what's important to them so you can adjust accordingly to make your offer attractive, as it responds to their needs. But yeah, the whole "if you don't sign by the end of our Q1, things will magically change overnight and pricing will triple and we'll have to start from scratch" is not my favorite sales tactic for many reasons.

Oh - the MAP and shared space - would Google Docs work?

TennisandSales

Enterprise Account Executive

great distinction. I have seen this happen for sure.

We win an RFP, prospect takes FOR EVER on next steps, next thing you know its been 9 months. If you have a timeframe on quotes its an easy way to keep things moving.

Ah yes, the vanishing while they do their "evaluation".

The best RFPs call out their plans - including go live.

The worst have nothing - no idea what's next after the RFP. Leaving the rep to push on procurement to sort out what the business wants.

detectivegibbles

Sales Director

I’m with ya. I don’t like stipulations that push either side.

It needs to be mutually beneficial. Win win is great, but I want no lose scenarios with built in safe guards to keep everyone safe.

All comes back to communication.

My colleague has a customer who just provided her with the entire SOE to close...from their end. Every step, approver, requirement - all of it. All laid out and clear.

I'd love to scrub the document of revealing details and hand it out to every prospect who thinks being coy about processes is a win for their side, because no, no it isn't. The gold standard is out there and benefits everyone when processes are shared and clear.

TennisandSales

Enterprise Account Executive

THAT is actually a fantastic idea!!! if you have a true champion, i bet they would fill out that doc or walk through it with you.

I think it would! But, we use outlook and sharepoint is really restrictive when it comes to external comms

Pachacuti

They call me Daddy, Sales Daddy

I have definitely seen projects being pushed out to the next budget cycle. Very frustrating. Especially when I already have 1+ year sales cycles to deal with.

same. I had 2 contracts out this month that have pushed indefinitely. Seems to be a recurring trend in my industry. Comission and quota attainment aside. I look like an ass when I forecast those deals and nothing comes in

SaaSguy

Tycoon

Account Executive

Qualify harder. It may seem counterintuitive to qualify harder, but "on the fence" deals will be extended and push out into the next budget cycle - your pipeline is going to be inflated with things that wont realistically close and make you look bad.