3 Warning Signs Your Deal is in Danger
Anyone who’s ever been in sales knows that not every deal makes it to the finish line. But one of the things that differentiates a good salesperson from a great one is being able to see when a deal might be going off the rails so they can take proactive steps to get things back on track.
The trick is being able to see the warning signs your deal is in danger.
Exploring these warning signs was what brought Salesforce, Gong, Proposify, Chili Piper and SalesLoft together on May 19, 2021 for a JB Sales’ webinar sponsored by Introhive. The webinar featured James Buckley, Director of Business Development with JB Sales Training, Devin Reed, Head of Content Marketing with Gong, and Morgan J. Ingram, Director of Sales Execution & Evolution with JB Sales Training taking attendees through the 3 warning signs to look out for when chasing or working a deal.
The 3 warning signs your deal is in danger
1. Low email velocity
Simply put, fewer emails with the prospect or potential customer lead to a lower win rate. When a customer is engaged with you, it shows they are serious about the deal. When communication trails off, so does their interest and your chances of closing.
Admittedly it does take a lot of effort to track the frequency and quality of communication, especially when you’ve got a lot of irons in the fire. A tool that automatically tracks email reciprocity and exchanges helps a lot.
Introhive’s platform goes even further, providing an actual deal score that takes all the guesswork and busywork out of tracking progress, showing you at a glance when a prospect needs some extra attention. How much easier can it get?
2. Pricing not discussed
Pricing is a key topic for winning deals. If a prospect isn’t interested in what it will cost, that’s a warning sign they might not be serious about the deal.
It pays to be upfront about pricing from call one. The longer you wait to cover the price, the less likely you’ll be to discuss it successfully in later calls.
One thing to note, however, is that high performers discuss pricing later in the call. So don’t open right away with costs, but also don’t hang up before discussing it.
3. When competitors are mentioned
The more competitors are mentioned, the less likely the deal will move stages. The more serious a prospect is about closing with you, the less they’re shopping around.
Take charge of the situation. Don’t pretend competitors aren’t out there, find out where the prospect is on the competitive continuum.
JB Sales advises you to dig in on questions. Have you worked with XYZ competitor before? What was good about it? What didn’t you like about it? Are you speaking with them now? How far along are you?’
Strategies to keep your deal on track
Knowing the warning signs your deal is in danger is great, but it’s even better to avoid having your deals get in danger in the first place. Be proactive. Nip it in the bud by following communication best practices. The speakers at the webinar threw in some good tidbits about this during the call and after-call follow-up.
- Use the Humble Disclaimer: get people’s contact information at the end of the call in case there are any questions. A text relationship builds real rapport, and if they don’t give it to you then you can consider that another warning sign.
- Send a video: use the technology available to you to build that rapport. Video is the single best way to get someone to engage with your message, as well as strengthen the interpersonal relationship. Record a short video after the call to discuss follow-up with decision-makers, asking if they had any concerns or questions you could address with them.
- Connect, connect, connect: send a LinkedIn connection request immediately after the decision-maker call.
Be a great salesperson
The 3 warning signs that your deal is in danger webinar was a fantastic opportunity for sales professionals to hone their skills and boost performance. The great news is that more opportunities are on the way.
Be sure to sign up for our next sponsored JB Sales webinar on May 27: The Ultimate Masterclass to Become a Cold Prospecting Expert. Why settle for being a good salesperson when you can be a great one?