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Here are Three Reasons Why Salespeople Fail to Close Deals

Updated on January 17th, 2022
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Sales is one tough job. It’s tough because you’re going to hear the word no time and time again. You’re going to hear the word no so many times it’ll make you question your skills as a salesperson. So what does it really take to close deals?

Truthfully, there’s no single solution. Sometimes, they just aren’t the right buyer. However, a lot of the time it boils down to the salesperson. Luckily, many have shared their some of their pitfalls so you don’t make the same mistakes time and time again.

That said, here are three reasons why salespeople fail to close deals.

They fail to address the needs of the buyer.

Ultimately, a buyer is looking for a solution. That solution is what you need to sell them on. During your sales pitch, a buyer will begin to amass information that will help them make their decision. They look for information on decreasing costs, increasing revenues, streamlined operations, competitive advantages, and anything else that provides strategic value.

As the salesperson, you need to make sure you are addressing those needs. If you fail to do so, they won’t be able to justify the purchase. Before you begin conversations, spend the time to research their business. Make a quick checklist of the values your product brings and what needs you can fulfill. If you’re clear and concise, the buyer won’t have to spend the time analyzing it themselves.

They don’t establish personal connections.

At the end of the day, sales is about relationships. Sure both the buyer and seller represent a company, but people by from people. Sales requires you to be persistent. Often times, that persistence gets annoying. There’s a point however, when the buyer views that persistence as conviction. That is when the personal relationship starts to develop.

When engaging in conversation with the buyer, try to gather as much information as you can without asking. How do they communicate? Are they shy? How old are they? The more you can gather the better position you’ll be in to build chemistry.

If someone is shy, you probably don’t want to be too aggressive. If someone is super aggressive, you don’t want to come off as timid. Try to match up with their personality and engage in conversation outside of business. The more you can get to know them, the better.

They fail to express knowledge about their industry.

In sales, trust is key. You want your buyer to trust that you know your industry inside and out. Not only that, you should be knowledgeable about their industry as well. Let’s say you work for a payments company. Your prospects may range from large e-commerce retailers to SaaS providers. Sure it’s not expected that you’re an expert in every industry, but you need to express basic knowledge.

When it comes to your own industry, it’s pretty obvious that you need to be sharp. Even when it comes to departments you aren’t familiar with. For example, if you work for a technology company, you should know the basic technology well enough to have initial conversations about technical integrations. Failure to express this knowledge will cause the buyer to lose confidence in you and your offering.

As mentioned above, sales is a game of resilience. You’re going to hear a lot more no’s than you’ll hear yes. If you want to increase your chances of closing deals, make sure you avoid the three mistakes listed above.

 

Chalmers Brown - Former CTO of Due

Chalmers Brown - Former CTO of Due

I'm Chalmers Brown and former CTO of Due. I'm a big fan of technology and building financial products that help people better their lives. I have a passion for financial products that help people. I build complex financial infrastructure protocols that help scale financial companies. They are secure and support millions of customers worldwide.

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