How To Revive Stalled Sales Deals
Reviving stalled sales deals is hard. That’s the reason you’re here, right?? This article could be cut short by saying that if a deal has been stalled, there’s no easy way to revive it and just let it go.
So if you like that, it’s been nice meeting you, you can close this article now. However, if you’re relentless like me, and want to know why the deal got stuck and how to get the ball rolling again, bare with me.
We’ll cover three major points in this article:
- Understanding why a deal has slowed down or got stuck
- What can you do to revive it
- How to avoid this in the future
So without further ado, let’s dive in!
Is it because of You?
If the stall happened completely out of the blue, you might have overlooked something on your end. You might have forgotten to reply to an email, answer an important question or send over stats etc. As silly as it sounds, you’re a human being, this happens, and honestly, this is probably the best case scenario as it’s a relatively easy fix.
Make sure that you are not the reason why the deal is not moving forward. If you find out that you did forget something, get it done as quickly as possible. Get back to the client, apologize for the delay, maybe schedule an extra meeting to give them a bit more attention, and of course, make sure that it doesn’t happen again.
To avoid this embarrassing situation, create notes and a check-list for the deals you start working on. If you organize your thoughts and tasks better, it reduces the chance of a mistake.
Do you have a relationship?
Did you have a two-way relationship going on with the client or it was just a deal for you? If you had a relationship, it’ll be easier to understand what happened, however, if not, then you didn’t really have a deal to close either. Having a relationship with your client is at the utmost importance, as this will ensure that you understand them, know what they need and how you can deliver.
During your meetings was there a point when you felt that the process might slow down or the project hit a wall? Look through your notes, find that point and analyze it. Was it a mismatch of expectations and reality? Maybe you couldn’t get through to one of the decision makers so you didn’t have a chance to understand their needs utterly?
Well, this is a toughy… It’s still not too late to start building a relationship but you are in the last hour. Change the way you look at this particular client, see their problems and not the money this deal can mean. Show compassion and communicate better.
So much simpler to avoid: next time
Do they keep seeing value?
Onboarding a client is a bit like teaching a child how to ride a bike. First, you are the one who guides the bike, run with it and the child just has to sit back and observe. Then you run next to them to catch them if they fall. Finally, there comes a time when you let them go and ride on their own. They might find it hard to deal with things on their own, they don’t even remember why they’re doing it, and here you, you have a stalled deal.
Onboarding a client is a bit like teaching a child how to ride a bike. First, you are the one who guides the bike, run with it and the child just has to sit back and observe. Then you run next to them to catch them if they fall. Click To Tweet
Make sure that your client knows that you are there to help, you stand behind them if they need help. Remind them of the goal and make sure that they keep seeing the value. If they constantly find something new and awesome in your product, going through onboarding is much easier and fun.
They shouldn’t sort out everything by themselves, after all, you promised to solve a problem for them, and not to cause more. Resolve all the issues that may be preventing them from getting the most out of your product while evaluating it. Avoid
Note what steps of the onboarding were though or what parts of your product confused them. With the next client, you’ll know when to step in and what to help more with.
Are there any contract issues?
You are as close to closing a deal as a missing signature, and it still doesn’t happen? There might be issues with the contract. The conditions may not be clear enough or the contract is to difficult to manage.
Follow up if they have any questions, make sure that you provide all the information, and if needed, go through the paperwork together.
Learn from the feedback you get and next time you can be a step ahead and support clients before they encounter such difficulties.
Use these tips to avoid a deal slowing down and get the ball rolling again:
- Set a schedule: if you have an organized online
scheduler andeverybody has a clear understanding of it, there’s pretty much no time for a deal to get stuck.
- Use the trial deadline: if the product or service you offer has a trial, then use the end of it to create a sense of urgency and push the client towards making a decision.
- Keep regular contact: if a deal has stalled, and doesn’t seem to be moving forward even after you’ve done everything you could, just keep in touch. You need to be kept in the loop, so if the project relating to the deal you’ve been working on gets momentum, you’ll be aware of it and be able to close the deal.
- Offer a discount: as a last resort, you can try offering a promotional price, however, I think this should really be the last thing you do. If you respect your client’s budget from the beginning, the price shouldn’t be an issue.
Avoiding stalled sales deals is always easier than reviving them, so read our article on how to close more deals.
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Jacob is the Business Development Manager here at 10to8, working with the ever-growing enterprise client base.
Before he joined in 2017, Jacob co-founded and worked within multiple technology start-ups.
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