The beginning stages of a sales deal has evolved rapidly since the Internet began taking over much of our business and e-commerce. And while the world is moving faster and faster, what’s ironic is that deals are taking longer to close than ever before, and many get lost along the way to indecision.
As we all know, time does one thing to sales deals – it kills them.
According to a 2016 Fortune magazine article, the time it takes for one company to sell to another has increased by 22% since 2011. Closing deals is taking longer, and thus, leading to less sales and many lost sales along the way.
Why is it Taking So Long to Close Deals?
In the past, a deal only had to be approved by one or two buyers. If you happened to know someone in the company, you could pitch to them and that relationship would be key in determining if you made the sale or not. Now, however, sales must now be approved by five or more “buyers”, making the process lengthier and more challenging, and making it much easier for one buyer to hesitate or reject the deal, bringing the entire process to a standstill.
What’s worse is that most companies aren’t prepared to counter this and lack a cohesive and persuasive selling message that appeals to each buyer. If any were to ask “Why you?” can your sales team respond in a way that differentiates you and is persuasive enough?
What Can You Do About it?
Speeding up deals is very possible, with the right tools. A buyer needs to be able to take one look at your company and quickly understand the answers to their main question: why you? Your unique company marketing message needs to be aligned throughout your company, all the way from your CEO to your sales team. Creating and understanding this cohesive message will instantly allow buyers to understand what they will receive by choosing you.