In part one, we discussed three ways in which deals can get stuck in your sales pipeline, and techniques to get them moving again, including…
- No compelling need to change – business challenges
- Changed priorities – lack of bandwidth
- The Status Quo
Today I pick up where I left off last week and address more ways to manage your stuck deals.
Obstacles – Hidden or Otherwise
Sometimes there is a single, and powerful defender of the status quo. Your opportunity could be on life support because an obstacle opposes change, your solutions, or your business value proposition.
Before you seek and destroy any possibility of a relationship with this obstacle, you should first consider discovering who they are, and finding a way to meet with them and directly discuss their concerns. Their concerns may be legitimate and you may be able to make adjustments to meet their needs. Gaining their support by giving them access to something they want may make all the difference in the deal. As obstacles are usually decision makers, one approach is to have someone with more authority call on them to let them know you respect their authority and their position.
These obstacles can be moved or neutralized more often than you may believe possible, but it isn’t easy and takes time and a well planned and executed strategy. Investing time in the proper handling of those who oppose you will get your opportunity back on track.
Often time, late in the sales cycle a buyer becomes concerned. They question whether they are making the right decision. They worry about whether you will produce the results you promised or that they have not selected a real partner or the right supplier. Buyers today typically avoid any and all risk!
These stalled opportunities require careful listening to the meaning between the words to properly understand your client’s concerns, and then helping your client resolve them. You do that by providing proof that helps create confidence in your clients.
Deals don’t unstick themselves. Do the analysis; discover and understand why your deal is stalled, and take action with a well planned strategy to get them back on track or move on to something bigger and better – one that can close.