#016: Last 2 weeks closing tactics

Read time: 3 minutes

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You’re likely chasing down deals and trying to close them out in the next two weeks.

A deal that should have closed in November is dragging along and may push to Q1 2024 when you really need it in now!

I can tell you honestly, I am there too, this environment is particularly tough to move things along at pace.

This leads me to take a moment to pause and review the tactics and positioning I should be doing to put myself in the best scenario for closing deals quickly and keeping them in my control and not just a hope and a prayer.

I have used many tactics and tools to be able to support customers and get deals progressed through purchasing.

However, a word of warning, do not push against a locked door. If you get a clear reasonable and justified reason for why this deal is slow or dead…DON’T BECOME THE PUSHY DESPERATE REP, this annoys the customer and damages your reputation.

Two tactics to help you close this quarter's deals.

Ask about the purchasing process and timelines

“Just so I don’t bother you too much, how long does it typically take for the PO to get approved and what does that process look like?

Once they respond, ask your champion for an introduction to the purchasing person. They don’t want to deal with chasing down POs so offer to do it for them. This will give you a direct connection to purchasing so you can address any issues quickly.

Don’t give in to the last-minute discount

Purchasing agents will wait until the very end of the quarter in hopes that you will volunteer a discount or they will specifically ask for a discount at the last minute. They’re often measured on how much money they can save the company so it’s in their best interest to always ask. Many sales reps will scramble to meet this demand and give up margin. The last-minute ask is rarely a deal breaker. Hold strong and remind them that this was the agreed-upon price given we receive a PO by the agreed-upon date. They don’t want to go back to their champion and tell them they can’t get the deal done because of a nonsensical term or small pricing difference.

With only 2 weeks left in the year, there isn’t much you can do outside of the tips above. But going into the new year, here are a few tips you can integrate early into your sales process to avoid last-minute pressure.

In January, we’re going to run a 30-Day Pipeline Challenge to help you find as many opportunities as possible. It’s a great way to improve your prospecting skills and learn from other life science sales reps to see what tactics are working best. There will be on-demand content, resources, and live workshops to kick-start your year with a fat pipeline.

All you have to do is sign up for a 30-day trial of Succession.

5 tips to set up a successful end of quarter

Align with your customer's urgency

Recognize the timelines and constraints your clients are operating under. Align your sales process with a critical event or date when they need the outcome your offering provides. If your customer needs data in 8 weeks and your service takes 7 weeks to complete, then you need to place the order in the next week to meet their deadline. Working backward from a customer deadline gives you an accurate date for when the PO needs to come in. This is a customer-friendly way to “create urgency”. This understanding can help you create an empathetic yet compelling sense of urgency.

If they do not offer an exact timeline, anchor to a target date well before the end of the quarter. “Are there any reasons we can't get this done by December 18th?”

Multi-thread early in the sales process

Focus on building strong relationships with all the key influencers and decision-makers. Regular check-ins, understanding their challenges, and offering customized solutions can create a trust-based relationship, making it easier to close deals. The better you understand each person’s unique perspective, the better you can gain consensus to move forward quickly. Ask their preferred communication channels to you can keep in touch how they prefer.

Streamline the decision process

Understand the internal decision-making process. Proactively ask about legal or purchasing documents that need to be completed. Get these out of the way early so they don’t hold up your deal at the 11th hour. This proactive approach can prevent unnecessary delays.

Negotiate with transparency and flexibility

Be open to negotiation and understand what aspects of the deal are most important to your customers. Flexibility in terms, pricing/payment terms, or delivery can make a significant difference in closing a deal. For more examples of how to creatively negotiate, check out the end-of-quarter sales negotiation article.

Follow-up strategically

Persistent, yet respectful follow-up is key. Use a combination of emails, calls, and in-person meetings to stay in touch or even a short useful video. However, be mindful of not being overly aggressive. Have a purpose for each meeting or action that benefits the customer. If the next step doesn’t have a benefit to the customer, they aren’t incentivized to show up or respond.

If ChatGPT isn’t giving you the responses you want, a member of the Succession community shared how he uses custom instructions in ChatGPT to get better responses. He mostly uses ChatGPT to help write and edit emails. Here is the template for how you can use it as well.

What would you like ChatGPT to know about you to provide better responses?

I am a sales rep for [company]. I sell [product or service] that helps customers [benefits]. My customers are academic institutions or biotech companies.

How would you like ChatGPT to respond?

Respond in a casual manner. Responses should be short and to the point. Do not use filler words. Add opinions to responses if applicable.

To access custom instructions, log into your ChatGPT account, click your profile in the bottom left and choose “custom instructions”. They’re available on every plan (free and paid).

1. Sign up for Succession: A skill development platform for life science sales reps who want to improve their sales skills, exceed their quota and take the next step in their career.

2. Live Workshops: We’re now hosting live virtual interactive workshops for teams across a range of topics. Inquire for availability.

3. Strategy Call: In a 30-minute call we will assess your company’s current situation and identify growth opportunities.

4. Uncover Your Sales Blindspots: You know your sales team can do better but you're not sure where to start. This 20-question assessment is your path to clarity.