We all know how tough it can be to run a startup, especially when you’ve poured a lot of sweat and blood into it. Of course everyone wants their product to go viral like Dropbox, but not every company is Dropbox. From my experience, there’s a few reason why a company is having a hard time at closing deals.
In this article, I’ll go over the top 5 reasons.
Your product is no good
We’re not talking about a service based business, but more of a SaaS company or application product business. Usually the main reason for people not buying your product is because it’s not good.
The truth is that its getting harder and harder to build a good product due to the expectation and competitors out there. The days of having a “decent” product and making a good amount of sales is over. Nowadays, you need a good product and to build the best product you would constantly need to get feedback from your users and peers.
Your sale guys are wack
Talent is the key to success. A good sales person can sell anything. This is why it’s crucial to invest in talent as early as possible. I recently saw a video where Noah Kagan mentioned that if he were to do it again, he would hire a recruiter as early as possible because investing in good talent is that important.
Another thing about hiring sales talent is that you have to ensure that they’re treated well. They’re grinding it out there for you, so the least you can do is pay them well so that they don’t have to worry about their bills. This is also why I don’t like “commission only” gigs. Feed your guys well and invest in high-quality rockstars.
Your lead quality is terrible
Every company has their own ways of acquiring leads. The problem is that most companies have terrible leads which doesn’t make it any easier for the sales guys to close. If you’re wondering why your sales guys have talent, but aren’t closing, it could be the lead quality.
Acquiring leads is a responsibility that the whole team should hold not just the marketing department. Your company should have a good source of leads, whether that is buying leads or investing in a good demand generation person.
A good lead is a lead that matches your ICP and passing those to your sales team will make it a lot easier to close.
You’re not following up
This is another main cause for people not closing deals. They’re not following up with their leads. The truth is that most people tend to miss their emails. It happens all the time. It’s not that the lead is ignoring you, sometime they view it and forget about it.
Imagine if you were getting over 50 emails a day, you would probably miss a few emails everyday. It’s quite typical. Most deals are closed after 3–4 followups. This includes more than just following up with email but by phone etc. as well.
So if you’re not following up..Make sure you do it! Go through your CRM now and do some following up.
You’re not listening..
Some people talk so much about themselves that it’s impossible for the buyer to feel heard and understood.
Pause for a second and listen to your customer’s painpoints. Sales conversations are like first dates. If you talk about yourself too much, you’re not getting a second one. This first encounter is your opportunity to learn what your prospect values. Only then can you determine if your service is the right fit for them, and if it is, explain how.
There are layers to the payoff your prospects want. Questions are the key to finding them. Building on the previous website example, the first layer of desire was attracting leads or automating processes.
If we probe further, we could learn the deeper desire is to get more clients or to have systems that permit six months of travel. When a prospect understands how your service is the path to the underlying payoff they want, it’s even more likely they’ll invest in you. Talking about how great your graphics are or how many degrees you hold isn’t the way to find this important information.
It boils down to this — stop focusing on what you’re selling and start exploring why your prospects want it.
Well I hope this helped all the readers. If you’re looking for a good source of custom leads based on any data parameters and filtering check out GrowthOK