As we approach the end of the year you may be worrying about getting deals closed before end of quarter.
One way to increase deal velocity is to stop looking at the “deal cycle” as a period of time.
Instead of “our typical deal cycle is 3-5 months” think, “our typical deal cycle is 5-7 decisions.”
Here are some of the decisions made in a deal cycle:
- Is the initial value proposition interesting enough to see a demo?
- Does the solution shown solve the prospect’s most pressing problems?
- Is the proposal defensible enough to request approval?
These are all outcome-based rather than time-based milestones. Most sellers drive these outcomes slower than necessary by meeting with their opportunities only once a week.
Super simple tweak: get in the habit of saying, “what does your calendar look like tomorrow or the next day?” instead of “next week,” and you’ll improve your deal velocity.
Then, put yourself in your buyer’s shoes:
- What is the next decision they have to make?
- What information can I provide them to enable that decision?
- What’s the best way to deliver that information to ensure easy consumption and understanding?
The faster you help your buyer make those decisions the sooner they are successfully implementing your solution.