What do you do when your sales process has hit a wall? Your efforts to close a deal that has stalled are important. Thoughtful actions can move the deal forward and over any roadblocks.
Inevitably, sellers will face this situation in their careers, writes HubSpot’s Ben Kassif. It’s vital they know the best way to handle it.
“Some deals hit walls — that‘s just an unfortunate fact of sales life,” he explains.
And the key is to understand why. As SalesFuel points out, being stalled isn’t just a stage.
“It’s a situation that needs to be addressed or else the deal may get too far out of reach.”
According to Kassif, sellers must first analyze their approach. Often, stalled deals result from sellers not addressing the right issues. They may be focusing on a less serious pain point. Or they don’t fully understand the entirety of the problem.
“Misaligned problem-solving often stalls deals — and not getting to the why behind a prospect’s problems is often where misalignment starts.”
Kassif adds that reps will never close a deal if they don’t have a thorough understanding of a prospect’s business. And they need to understand the details of the challenges they face and their goals.
Take a look at these tips for identifying pain points. They will guide you to uncovering the issues your prospect faces and the root of them.
But don’t stop there. The deal will stay stalled if you can’t demonstrate why your solution is the best choice. It’s simply not enough to tell prospects what’s hurting their business. They must understand how your solution can uniquely help.
If you can’t, “you’re going to have a hard time getting a deal over the finish line,” Kassif explains.
Make sure you share tangible benefits to choosing your solution. And follow these best practices to ensure you do.
Close a deal by connecting with all stakeholders
A lack of connection with all involved is another cause of stalled deals. It’s easy to get caught up with a single prospect. But rarely are they the only decision-maker.
LinkedIn recommends identifying and mapping the decision-making unit (DMU).
The DMU is “the group of people who influence or make the final purchase decision.”
LinkedIn explains that you must understand each individual’s:
Roles
Motivations
Preferences
Objections
Then, ensure you’re not overlooking any of those in your current approach. Sellers must keep in mind that buying groups continue to be a factor in sales. Multi-threading is a must.
Tom Erb, writing for Tallann Resources, suggests working with your prospect to engage and build rapport.
“Discuss how you and the prospect can work together to get them the information they need to make the decision.”
Use your relationship to expand your partnerships to ensure all stakeholders are involved. You won’t be able to close a deal if other decision-makers are left out.
Be honest
While not the most pleasant option, honesty may be necessary. Kassif recommends resorting to blunt honesty, especially if the contact has gone quiet.
“Call out the fact that you feel that this deal is no longer a priority,” he suggests.
You can do this politely without coming across as accusatory. Coming from a place of curiosity can prevent prospects from feeling defensive. Reinforce yourself as someone who genuinely wants to help. Explain you’d like to continue the process but have concerns they don’t.
And hopefully, you’ve established a strong relationship, based on trust and credibility. This will make this conversation easier for you and the prospect.
“Lean on that, and let them know you’re sensing a dip in interest,” Kassif adds.
And if you’re anxious about the topic, here’s some advice for navigating tough conversations.
When faced with a deal that has stalled, implement these suggestions to get it moving. And for more tips, check out these from SalesFuel.
Photo by Berkeley Communications on Unsplash