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Aired on November 16, 2021
Episode 120
Do This First to Increase Your Close Ratio for Sales Proposals
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Tailor your sales proposal after deeply understanding your prospect's needs. Address their pain points, highlight benefits, and provide a clear call to action. Personalize your approach and watch your close ratio soar! #SalesSuccess #CustomizedSolutions #NextSteps

Do This First to Increase Your Close Ratio for Sales Proposals

Struggling with sales proposals that don't convert? The key to increasing your close ratio starts before you even write the proposal. Here's what to do:

Start with Deeply Understanding Your Prospect

Before writing your proposal, it's essential to understand your prospect thoroughly.

Research Your Prospect

  • Learn about their company, challenges, goals, and industry.
  • The more you know, the better you can tailor your proposal.

Ask the Right Questions

  • Use open-ended questions to let them share their challenges and objectives.
  • This shows your interest in providing the right solution.

Listen Actively

  • Pay attention to their words, emotions, and underlying concerns.
  • This helps you customize your proposal effectively.

Tailor Your Proposal to Their Needs

Craft a proposal that directly addresses their specific needs.

Address Their Pain Points

  • Show that you understand their challenges.
  • Demonstrate empathy and a focus on solutions.

Highlight the Benefits

  • Focus on how your product or service benefits them specifically.
  • Show how you can make their life easier or business more successful.

Provide a Customized Solution

  • Offer a solution unique to their situation.
  • Avoid generic approaches.

Set Clear Next Steps

Make it easy for your prospect to move forward with your proposal.

Call to Action

  • Include a clear call to action, like scheduling a meeting or signing a contract.
  • Make the next step obvious and easy.

Provide Multiple Contact Options

  • Offer various ways to contact you, like email, phone, or a scheduler.
  • The easier it is to reach out, the more likely they will.

Conclusion

By understanding your prospect, tailoring your proposal to their needs, and clarifying the next steps, you can significantly improve your sales proposal's success rate. Remember, it's about providing a solution, not just selling a product. Implement these steps for better conversion rates on your next sales proposal!

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Biggest Takeaways:

  • If you’re selling business to business, not all B2B sales require a proposal.
  • If you want to get your proposals accepted, you need to follow their instructions.
  • You do not do heavy lifting with a proposal.
  • Do NOT use a proposal in order to avoid negotiations.
  • You are the one that actually has to actively sell.
  • Your proposal is a part of the sales process.
  • Think more about which direction you are leaning towards.
  • Every step of the process is really about re-engaging, reinvigorating and re igniting the fact that you’re on the same page together with your prospective client.

 

Highlights:

  • How you position yourself when you are having to sell using proposals [02:50]
  • What to do if you’re selling business to business [03:48]
  • Why your proposals do not get accepted [04:36] 
  • 1st thing to do to Increase Your Close Ratio for Sales Proposals [05:12]
  • 2nd thing to do to Increase Your Close Ratio for Sales Proposals [06:02]
  • 3rd thing to do to Increase Your Close Ratio for Sales Proposals [06:25]
  • A great place to make sure that you clarify expectations [08:29]
  • Why you need to highlight your proposals [09:18]
  • Questions that allow you to have more certainty that the work and effort is actually going to seal the deal. [12:28]
  • The key components that we want to get done [15:59]
  • What to do if you need more help [19:36]

 

🎙 Previously Episodes Mentioned on This Episode and Powerful Resource Episodes:

 

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