More than half of sales pros (53%) say it’s harder to sell now than it was a year ago. This makes spotting potential issues in deals even more important. When you identify risks in time, you can adjust your strategy and improve your chances of hitting your goals, even in a challenging environment.
Mary Foster, a VP at Ambition, says risk signals are often easy to miss but important to know. If you overlook the signs that prospects might be losing interest, you could end up wasting your effort or losing the deal altogether. So, what should you look for? We share Foster’s thoughts on some key sales risks to spot early in this issue of PromoPro Daily.
1. Shrinking contract values. Consider it a red flag when someone scales back on their promo. Foster says this could signal waning interest, budget constraints or a mismatch in perceived value. Address these issues quickly to prevent bigger obstacles later.
2. Pushed-out close dates. According to Foster, frequent delays or pushes in close dates could suggest internal challenges or priority shifts that make the deal more likely to fall through. If you do nothing, the trend could snowball, and it could impact your sales forecasting and accuracy.
3. Decreased engagement. Have you noticed a client has become slower to return calls and emails or a prospect’s communication has suddenly slowed down? They could be losing interest or reconsidering their options. Foster recommends watching engagement metrics like last activity response date so you can take steps to re-engage.
4. Changing contacts. When your champion or key decision-maker leaves mid-deal, it can throw everything off. Foster says it’s important to adjust your approach based on new stakeholders’ goals and concerns to keep the opportunity moving forward.
5. Stalled next steps. If next steps keep getting postponed, consider it a sign that the prospect may not be interested or may be facing some roadblocks. In these situations, Foster says it can be helpful to get senior leadership or executive sponsors involved.
Don’t get so focused on a deal’s potential that you overlook problem signs. If decision-makers start becoming less involved, they don’t want to take the next step or you notice other issues that suggest the deal is losing momentum, take action to re-engage them. This could mean a more personalized follow-up or a new value point, like a first look at a new promo. When you stay mindful of the signs above, you just might be able to turn a stalled deal into a closed one.
Compiled by Audrey Sellers
Source: Mary Foster is the VP of demand generation at Ambition, a sales coaching software for sales enablement.
