Think that it's too late to close a business deal (or several) before we hit 2022? Nonsense. We're sharing exactly how to close sales deals before 2021 is up!
This formula has been tested many times over, and consistently helps sales reps close more deals in less time... Even at times when they at first believe they don't have a chance!
Despite (terrible) conventional advice, closing deals right before the year is up is perfect timing. The idea that you need a lot of time to close a deal or that you can ever be 'too late' to get a signature on the dotted line is just a misconception!
There is never a better time to close a deal than right now!
Believe it or not, but closing deals at the bitter end of the year is perhaps the best time to close. That is, at least, if you follow this particular end-of-the-year sales strategy!
So, what are you waiting for? It's time to strike while the iron is hot. If you want sales success in 2022, then don't wait until January 1st to hit the ground running.
Shatter Misconceptions About Timing
How many times has somebody said to you, 'life is all about timing' or 'maybe you will get it when the time is right'?
Even worse... How many times has somebody on your own sales team said something along the lines of, 'It's too late in the year to try and close another deal, our potential customers are totally preoccupied by the holidays!'.
If you're like most salespeople, then all of those statements are probably very familiar to you.
However, there are two major issues with such statements and similar ones, including:
- They are simply common misconceptions
- Believing that they are true takes you out of the game to make deals at what is perhaps the BEST time of the year to do so
You heard that right... Striking right at the end of the year is often the absolute BEST time to close a deal!
That being said, if you and your sales team throw your hands in the air thinking you have no chance at the end of the year, just know that some other top-notch sales professional is taking advantage of the fact that you are doing nothing.
While you are giving up, they are closing 2021 out on a high note and filling up their calendars for 2022.
Having a Limited Time Plays to YOUR Advantage
The most common reason why sales reps fall for misconceptions about closing deals at the end of the year is because they believe that having a limited time is disadvantageous to them.
They see timing as working against them, not for them.
For example, they believe that limited time is disadvantageous because:
- Customers are preoccupied with their own affairs during the holidays
- Customers don't have enough time at the end of the year to take sales calls and emails
- A few weeks isn't enough time for a full sales cycle, or to even set up calls for 2022
However, these are purely excuses that the mind makes up to justify misconceptions about timing.
Instead, the truth about timing at the end of the year is that:
- Customers are looking for solutions before the year ends
- Customers need external help solving pain points so they can start the next year fresh
- Many B2B companies have capex budgets that must be spend before year's end
Moreover, having limited time to get prospects into the sales cycle at the end of the year plays to YOUR advantage!
While you might be thinking that prospects don't want anything to do with you... The truth is that they're probably already looking for people to help them right NOW.
Like you, they also want to start 2022 on a high note. Therefore, they want solutions NOW!
Will you be there to give them the hand they need? Or, will you let one of your competitors jump in and help them?
No More Excuses
Now that you know that the best time to try and close a deal is right before the end of the year, you can't make any more excuses.
If you do, then you willingly hand over golden sales opportunities to your competitors, who will gladly take advantage of the open door!
Even worse, if you wait until 2022 to get going, just know that most of your ideal customers will already have their calendars full in order to get their needs solved.
That being said, you can't make any more excuses! Your prospect's needs must be met NOW. Waiting until the year is over to strike is too late.
Jump Straight to the Point Right Away
Saying that you simply want to 'close a few more deals' by the end of the year will get you absolutely nowhere.
Instead, you need to be definitive on what you want. That way, you can come up with a strategic plan to close more sales deals in the limited time there is.
Not only must you be clear on what you want, but you also need to be clear with your potential customers on what you want from them and how you can help solve their problems.
This is where having limited time on your hands is highly advantageous...
At other times of the year, you would normally have to spend considerable time on sales presentations talking about the specs of your deliverable, including the benefits of your product or service.
However, with only so much time until the end of the year and prospects needing quick solutions, you don't need to spend as much time doing sales presentations because prospects simply don’t have the time or patience for them!
Bottom line: In order to close deals by the end of the year, you need to know exactly what you want. That way, you know what to do with the limited time you have to achieve success.
Jump straight to the point and use limited time to your advantage!
Set Hard Goals for the End of the Year
Before reaching out to any potential customers, set specific goals regarding closing sales by the end of the year.
When writing your goals, consider:
- How many deals you want to close
- Which prospects you want to close deals with
- When you want the deals closed by
Just like in any other scenario, be as specific with your goals as possible! The more specific you are, the better.
Additionally, make sure that each goal is measurable and can be broken down into smaller steps.
Identify and Prioritize Your Target Customers
Knowing exactly who your target customers are at any time is of the utmost importance.
In fact, understanding your potential customers is one of the most important sales tips you will ever receive.
However, when you only have so much time on your hands, such as near the end of the year, you need to be more savvy with your potential customers than ever.
Here's how to do that: Take your list of target customers from your CRM and break them down into three groups, including:
- Hot leads - friends, acquaintances, and people who you talk with on even a somewhat regular basis because you already have their contact info
- Warm leads - mutual acquaintances, people who you know but don't necessarily have a relationship with, maybe you’ve already had a sales talk with them before
- Cold leads - people who you don't know and they don't know you
With your list, decide the order in which you are going to reach out to them based on priority. To prioritize your prospects, consider the:
- Customer's needs - do you know that one of the prospect's has a major problem they need solved ASAP?
- Customer’s readiness - do you know that the prospect is ready, willing, and able to close a deal by the end of the year
- Likeliness you are to not just get them to answer your initial call or email, but to promptly set up a follow-up meeting
Technically, any one of the three lead types can have a high priority problem they need solved, and be ready to give you a ‘yes’ right away.
However, it’s usually warm and hot leads who are most likely to set up a second call because they are familiar with you. But, that isn’t always the case!
Despite the fact that there is only so much time at the end of the year, sales experts are still strategic!
After qualifying leads, they figure who is most likely to close with them by the end of the year and then get going.
Get Easy Referrals From Your Current Customers
Do you know that you're likely currently sitting on a gold mine of sales potential without even knowing it?
By that, we mean that your current customers are more likely than not to know of other businesses that could use your help before year’s end, yet you're not asking them for referrals!
Getting referrals from your existing customer base is one of the most effective sales tactics to close deals in a short amount of time!
Because, unlike cold leads or even warm leads, the prospect being referred has direct evidence that others have great experiences with you. That social proof is extreme sales power!
Furthermore, unless you're asking your current customers for referrals, then you're letting a whole lot of easy potential go unused.
Make Straightforward Offers
With no time to waste, you need to focus on making direct, straightforward outreach emails and calls to your leads.
You should be straightforward in any event, but it's all the more important when you only have so much time on your hands!
That being said, to make a solid sales offer, you must have answers to these three questions ready to go:
- Who are you?
- What are you asking for from your lead?
- What are you offering to your lead?
First off, establish yourself as an expert and as someone wanting to help the prospect. Are you a sales manager who wants to help them before the end of the year? Or, are you just another person there to spam their inbox?
Second, you need to let your leads know what you want from them. Do you want to set up a meeting or sales call? Or, are you just wasting their time? Whatever it is, let them know!
Lastly, there is no such thing as something for nothing. You need to tell your prospects that you have something to offer them (AKA, a solution to one of their problems). Don't be vague with what you offer... be straight-up!
While these three questions might seem elementary, the truth is that they are all you really need to gain entry to your prospect's calendars. Also, you'll be needing them to input into the free email template (see below!).
Get a Free Outreach Email Template!
Do you want a free email template that you can use to automate your first round of outreach to your potential customers?
We're sure you do!
Not only can you get the free, can't-fail email template that proves time-and-time again to generate responses, but you can also get a free sales training that's all about closing out the year on a high note.
All you need to do is sign up here! Never before has there been an easier way to get all the information you need to close the year on a high note. It's right here waiting for you!
Get to the Decision-Makers Right Away
With only so much time on your hands, not only do you need to cut to the chase with your offer, but you also need to make the offer to the right people.
Specifically, you need to make your offer to the person who has the authority to make a purchasing decision at the prospect company.
That way, you don't waste time sifting through several layers of people trying to connect with the person who has the ultimate buying authority.
Go straight to the decision-makers to increase the odds that you close on a limited time budget!
Use Only the Most Effective Sales Tactics
In any sales situation, we'd suggest using only the best sales tactics.
However, that advice is even more important when you're trying to close deals right before the end of the year!
Because, with less time in the sales cycle than usual, picking the most effective tactics is more important than ever.
While there are many effective tactics, some of the most effective ones include:
- Creating a sense of urgency in the prospect
- Appealing to the prospect's emotions
- Asking direct questions and answering questions directly
After successfully connecting with the prospect and directing them into the sales funnel, take advantage of these tactics until you get them to sign on the dotted line!
Double Down On Sales Psychology
Sales psychology tactics take the cake in terms of being some of the most effective sales tactics.
Because when used properly, psychological tactics influence a prospect's decision-making system by harnessing the power of their emotions.
Even though we all like to think that we are super logical, the truth is that most of our decision-making is guided by emotions. So, psychological tactics help salespeople harness their prospect's emotions to get them to make a purchasing decision.
At the end of the day, sales techniques that take advantage of psychology help you close a deal AND help the customer realize that you have the solution to their problems!
While there are several excellent psychological tactics, perhaps the best one to use when on a limited time budget is creating a sense of urgency in the prospect.
In any sales situation, creating a sense of urgency makes the prospect feel as if they must take advantage of your offer right now before it’s too late.
Again, creating urgency is great in any situation, but it's even more helpful when you're trying to close a sale before year’s end.
Also, consider using psychological tactics like social proof and reciprocity to swoon the prospect’s emotions.
Stay In Control of the Sales Process
If you're a regular here on the Business Growth Insider, this should come as no surprise to you... Staying in control of the sales process is crucial for closing deals.
Because, if you don't control it, then your prospects will. And there is no bigger recipe for disaster than when the prospects take control!
From the initial phone call to the final sales pitch, you need to have power over every step!
That being said, take advantage of the best sales tool in your tool belt to help gain control... which is asking questions.
While it might seem too simple at first, when you ask direct questions and then listen attentively, you gain immediate power over the sale.
Don’t believe us?
Try talking instead of asking questions and listening, then see where that gets you!
Pay Particular Attention to Sales Closing Techniques
Like we already mentioned, if you're trying to make a deal before year’s end, then your sales cycle will likely be shorter than usual.
Therefore, the type of sales tactics and techniques that you use at the very end of the cycle are some of the most important because the closing comes up faster than normal.
With that being said, the best techniques you can use near the closing include:
- Asking additional closing questions
- Showing off your expertise
First off, ask questions to keep control of the sale all the way until the bitter end. The last thing you want to do is lose control over the sale right before signing the deal.
Second, because the cycle is shorter, you need to make sure that prospects have 100% confidence in you.
Therefore, show off your expertise to solidify their trust by:
- Showing off complete confidence
- Integrating expert proof into your sales pitches
- Sharing case studies on your LinkedIn
Staying on top of your game until the bitter end is important at any time, but particularly when trying to close right before 2021 is up!
Follow-Up Within 24 Hours
Unfortunately, there is another terrible misconception amongst salespeople that following-up with prospects shortly after making the initial cold call or email is a bad idea.
They say that following-up so soon makes you look desperate.
However, not only is that not true, but following-up with prospects shortly after making the first round of outreach is crucial if you want any chance of closing on them!
Because, the reality is that while getting your prospects to respond to you might be the most important thing in the world to you, your prospect's top priority might not be answering your phone call or email.
It isn't that they don't want anything to do with you, it's just that you're not number one on their priority list!
That being said, you need to put yourself at the top of their priority list by doing these two things:
- Following up within 24 hours so that it’s very hard for them to ignore you
- Being very clear that you know they have a pain point you can help solve ASAP
Bottom line: Your prospects have many priorities, and you can't expect them to make you priority number one right off the bat. Therefore, you must push yourself to the front of their priority list by showing them that you're the person with the solution they need!
Give Your Warm & Hot Leads Some Time
While we did say that you should follow-up with your potential customers within 24 hours of the initial round of outreach, that doesn't apply to all of them!
Moreover, following-up within 24 hours only applies to your cold leads.
For your warm leads, give them 48 hours before following-up. And for hot leads, give them about 3 days before reaching out again.
The reason why you give your warm and hot leads a little extra time is that you already have at least somewhat of an established relationship with them. And, with relationships comes loyalty!
Because of loyalty, warm and hot leads are less likely than cold leads to either ignore your message or simply forget about you.
On the other hand, cold leads have no loyalty to you, so it’s easy for them to simply see your message and immediately toss it away.
Even though you should give your warm and hot leads a little extra cushion of time, be sure to stay on top of following-up so that they don't accidentally forget about you!
Final Thoughts on Closing Deals Before 2021 Ends
As a final takeaway... The only thing that can stop you from closing sales deals by the end of 2021 is yourself.
We've debunked the misconceptions and given you strategic techniques to make the sales happen... Now, it's just a matter of putting it all to use!
The best sales reps are already out there taking advantage of the fact that so many other salespeople believe it's impossible to close another deal before 2022.
Will you be the sales professional that takes full advantage of the situation, or one of many that walks away leaving a gold mine of potential behind them?
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