There’s Something More Important Than Closing Deals

BANGGG; Another deal closes and office gong rings throughout our 3rd-floor office. My obsession with sports intuitively makes me react with a “LET’S GO”.

You’ve worked your butt off, dealt with variables you can’t control and ended up getting it across the line. 

That’s the pinnacle of sales…right? RIGHT?? Yes, that is the objective but there is something more valuable in the long run. 

Sure, it’s tough to compete with that type of a thrill, but not wasting time on unqualified buyers or deals that won't close?

Now that sounds like sustainable bliss.

Hear me out.

Sales is a unique role where one's input doesn’t guarantee output. That’s because we need someone on the other end of the phone to say “yes”. 

An expert negotiator will have a mediocre pipeline if they don’t adequately qualify. 

Let’s say they stumble upon a lead with organic urgency. There is a high probability of closing and because of their expertise, they easily convert. Even for some leads that may be on the fence, they're winning there too.

Now imagine they're so confident in their abilities that they don't pass on any lead. Then you think how many customers can this person close if they’re spending time on unqualified leads?

The strong negotiator will be far from a quitter so it’s natural to expect them to offer counter after counter to someone who will never be a customer. You compile that wasted time, and suddenly their exceptional closing skills become irrelevant.

If you're spending time on people who won't buy, you're missing out on the actual buyers.

You might be sitting there thinking “psh I have an SDR, so all I get is opportunities to close”. Even in that role, you'll see a similar outcome if you’re not sharp in identifying red flags that your SDR might’ve missed. 

Here’s how to ensure you’re only putting effort into prospects that have the highest probability of becoming customers. 

Identify what you need from a prospect to turn them into a customer

I’m old school with this. Grab a piece of paper, and draw a straight line from one end to another. 

Place a mark on the line whenever you identify the variable you need to move the prospect forward. 

It’s okay if it sounds rhetorical like “prospect has to have the funds to pay”. Get it in there. It shouldn’t be more than 4-5 marks. 

There is a psychological aspect to this exercise. For you, the salesperson, it’s very straightforward. All you technically need are a few things to turn a prospect into a customer.

The simplicity of it will show when you’re pitching. You’ll have a tone of seamlessness and ease. 

Last but not least, it will put a spotlight on the objections you’ll have to work through. because at the end of the day, how that line gets messy, and how more marks are added are the prospect’s doing. 

Write out qualifying questions to ask in the first 5min of your discovery. 

Make it as black and white as possible.

If a prospect likes the product but their timeline is 90 days before they can pull the trigger, then end the call right then and there. 

Treat it like a checklist. If you see the red flags, don’t just keep going. Do something about it. 

Set parameters for your lead engagement

In other words, write out how many times you will call/email/text a prospect before marking them as “unresponsive” 

Stay disciplined with what you set and don’t go off the rails.

The best example of this is when I hear a sales rep have a call with an eager prospect.

They ignore a few red flags, take the few eager comments, and jump off the phone too early. Then they end up following up for a month without hearing back.

When you have a set structure, you abide by it and keep a lean pipeline.

Track everything

Data is your best friend to ensure you’re putting effort into the leads that matter. 

First, create a lead scoring system in your CRM. Label the leads, and track how you convert them at different scores. 

Based on that, you can customize your lead engagements. For example, a lead with a score of 5 might get 10 follow-ups vs. a lead with a score of 2 gets 5 follow-ups. 

Track the data on your calls. There are plenty of products out there like Gong and Jiminny. Use that data to identify when a prospect mentions X, they close at Y rate.

You can track every action. Inherit the mindset to place a metric on every move you make. The “how” is the easy part.

Set your standards and don’t break them for anyone

If you were to put only one of these points into action, choose this.

Whether it’s your timeline or qualifying questions, clearly identify what you need to push a prospect through your sales cycle.

From there have no hesitation in standing firm on your standards.

It’s not about pride, but about leading the prospect to the best possible outcome in the most efficient way possible. 

You’re the expert after all.

There are endless examples where I see reps bend over backward for a prospect who never had a shot of becoming a customer. 

Here’s why.

When you don’t stand firm on your standards it does a few things.

One, the prospect loses respect. In a status world, they’ll see you as below them given you’re showing signs of desperation.

Second, they lose trust in the value you’re presenting them. You can’t tell a prospect the importance of a process or stipulation, all to walk it back 2min later.