10 Ways to Increase Your Close Ratio — Now

Start by knowing your personal close ratio and that of your organization:

 Top performing companies — 46% average close ratio
 Average — 29% average close ratio
 Lagging — 19% average close ratio

1) Spend more time probing and less time pitching.
 Focus on the “why” questions, not just the “what.”
 If the customer wants to streamline systems, ask WHY before what to find the business driver.

2) Identify the decision criteria and don’t stop there – probe who developed it and why it’s important.

3)Ask who the competitors are, what their solutions include, and then ask the tough questions to find out how the customer feels you compare to the competitor.

4) Be more responsive than ever before — when a client asks for something, find out when he or she needs it and beat that time frame.

5) Find ways to take the load off the customer. For example, if he or she says “Let’s set a phone call to…” not only set the phone call but have a document ready to e-mail during the call to advance the discussion. Take an extra two steps.

6) Get coaching. Discuss the deal with your sales manager or a top performing colleague. Do this early in the deal. Mid to late in the deal will likely be too late.

7) Review your needs analysis and proposal with your manager.

8) Connect personally. The #1 reason a customer buys is the relationship with the salesperson. What do you know about your customers? How do you feel about them? It’s likely reciprocated.

9)Identify your customer’s quantifiable goals and provide solutions that show value. Show customers how your solution will help them achieve their goals.

10) Supplement your understanding of why you lost a deal or won it by asking your manager to have a win-loss debriefing after the customer tells you about his/her decision. Then be open to specific feedback your manager shares with you and use it to win your next deal.

Set a reasonable goal with a time frame for increasing your close ratio by putting these ten practices to work.

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Learn more about Richardson's sales training and perofrmance improvement solutions by visiting us on the web at http://www.richardson.com

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