Stalled proposals – two words every sales person hates to hear. Reengaging and unsticking what’s stuck is a challenge nearly all sales teams have had to handle. So, when you’re faced with a stalled proposal, you may ask yourself what your options are. We have some answers for you.
You need the right strategy in place because that’s key to keeping prospects on your side when it looks like a stalled sale.
Your playbook should cover all these scenarios so your team is well prepared to deal with the situation. However, make the wrong move and you’ll lose their trust and kill any potential of a deal!
So let’s dive in and see how you could recover the situation skilfully and subtly.
Four Solutions for Stalled Sales Proposals
First thing’s first: You have to recognize when a stalled deal is stone dead or when it’s actually qualified but stalled. You need to take some time to recognize when it’s best to cut your losses and move on to the next one.
But is your prospect qualified and it’s simply a stalled deal?
This is a danger point. The more time a prospect takes to go through the pipeline, the larger the chance they will not buy.
So here’s what you need to do to move the potential customer along the pipeline when things start to stall.
1. Extend Your Network
Get closer to your prospect by connecting with the right people. Business meetings, LinkedIn, conferences, and webinars – they all offer the chance to network with others who work in your prospect’s business.
Ask yourself: Are you talking to the right person who will ultimately be a part of the decision-making?
From your contacts, build a buyer’s map and have an idea of where each person falls in the hierarchy. You should always consider the possibility that even though the business you’re dealing with could really benefit from your service, the person you’re dealing with may have dropped the ball. Link with someone else there!
2. Follow Up with Something Worthwhile
Follow-up emails and “just checking in” messages can get old real fast. They’re totally ignorable! So, if you do need to follow up with an unresponsive contact, do so by offering them something. We mean something that captures their attention or gives value.
For example, have you seen an interesting blog post or article that’s relevant to their business? Send it their way with an enticing message. The idea is to not be pushy with stalled sales but to remind them of your proposal and prove you’re on their side and understand their business needs.
3. Lay Your Cards on the Table
You made a presentation of a solution, you’ve discussed pricing, and it’s been radio silent for some time.
If you haven’t been able to get a commitment, try sending a straightforward message along the lines of asking for an honest assessment and feedback on where you may have gone wrong with your proposal.
In the end, one of two things may happen:
- You’ll gain helpful feedback for future reference. Disappointing, yes, but likely useful once you get over the disappointment.
- The prospect realizes they’ve dropped the ball on moving forward with your proposal and initiates proceedings again.
Whichever happens, you haven’t alienated them. At some point in future, your product or service may become relevant to their needs, or they may mention you to a colleague as a good supplier.
4. Give Them Proof
Sometimes prospects get cold feet in the closing stages. Buying a product or service, especially in B2B, is not a cheap move. So give them the extra confidence they need to close the deal by sharing compelling social proof.
For example, consider passing along favorable social media attention, product reviews, case studies, a press mention, or even stats on number of customers and usage data.
All of these could be just what your prospect needs to put their mind at ease. CFOs, in particular, can be more ready to accept such proof from the firm’s buyer than all the explanations in the world!
360 Consulting Can Help You Unstick Stalled Sales!
Stalled proposals are inevitable. And it doesn’t matter how great your sales team is – sometimes the blame falls on the prospect. Even if you haven’t had to deal with stalls before, it can’t hurt to have a few strategies in your back pocket. At 360 Consulting, sales is our passion. We specialize in helping you deliver incredible results. Why not call us today for a free consultation and let’s talk sales!