Someone else on your side when you’re trying to close a deal can work wonders.
Everyone who works in sales knows the feeling of watching a sale slip through their fingers. One minute you’re sure the deal is going your way, and the next minute the tides are shifting against you and you feel powerless to do anything about it. Of course, you’re not powerless, but you may need to try something different to regain your momentum.
Creating momentum and keeping a deal moving forward is a key skill that reps need when they’re working on a sale and trying to hit their targets.
There are many ways to build momentum, but one of the most successful methods you should consider is finding an executive sponsor within your own organization who you can team up with to close the deal. Typically, your executive sponsor would be “someone on the management or executive team who is directly interested in the outcome or the result of your solution,” explains entrepreneur Dan Tyre for Hubspot.
The right sponsor can play a pivotal role in getting a stalled deal moving again.
When you involve a sponsor in a deal, that person must add credibility and respectability to your offering. He or she must be able to reassure the prospect that they’re being offered a good solution, and crucially, they must be able to articulate the reasons why they believe this is a win/win for both parties.
Sponsors can break a deadlock and inject new energy into a deal when you feel yourself getting frustrated by a vague and noncommittal prospect. Chances are you’ve worked on a deal for long enough that you know your prospect will benefit from the offer, but they’re not really hearing you anymore. Sometimes they just need to hear a new voice, a fresh perspective, that will jolt them into action and move the deal forward.
The presence of a sponsor, according to inbound marketing specialists Hubspot, has “traditionally been very effective in helping a prospect build confidence and trust, make a good decision, navigate their internal buying process and start a relationship with your company on solid footing for the long run.”
The Role of the Executive Sponsor
Fundamentally, their role is to reassure an uncertain customer that they are doing the right thing by taking the next step along the sales pipeline. Sometimes, they may be able to do that via financial incentive or a discount to sweeten the deal. At other times, the sponsor simply needs to stay connected to the relationship and make sure that the customer feels seen and understood.
It’s vital for a sales relationships to build up momentum as it moves towards a close. Delays and time wasting have been known to sink a deal more than once! Keep the ship moving forward by thinking carefully about what the next action in this sale is going to be, and make sure everyone knows when that needs to take place. It’s important have enough self-awareness that you are able to realize that sometimes the smartest thing you can do is bring an executive sponsor who will help you complete the sale.