How To Close 90%+ of Clients And 2-3X MRR in your I.T Firm.
Do you want to turn more referrals into paying clients?
And capture more valuable revenue for your I.T business?
If so, your sales conversion rate is an essential metric to track.
But there's much more to it than your sales ability alone.
You must factor in everything that influences this metric.
You're "closing" ability is one factor, for sure.
But it's not the be-all and end-all.
The Case Of Two Closers
For instance, let's take two salespeople:
The first salesperson gets ten discovery calls.
The leads are all "budget qualified."
In other words, they have the resources to buy the company's solution.
Not only that, but they have expressed a need for their services.
They are the primary decision maker, also.
The second salesperson gets the same discovery calls as the first salesperson.
But they're a small operation. So, they need the funds to buy the company's $10,000 SaaS product.
Additionally, they already have a solution in place, so there's no real need for the company offering.
The person who booked the call is not authorized to make the buying decision either.
In your view, what group of leads will convert better?
Group number one, of course!
The lead quality is much better in group one than in group one.
The sales conversion rate will be much higher as a result.
You could be the worst salesperson in the world and still win more clients than if you were against the best salesperson who had to deal with the leads in the second group.
Lead quality counts for an awful lot when determining your close rate. The better the lead quality, the higher your conversion rate. All other things being equal.
The Factors That Determine Your "Close" Rate
So, is lead quality the be-all and end-all factor in determining your close rate?
No.
Four factors in total determine your sales conversion rate.
That is your:
lead quality (as we discussed),
offer,
brand, and,
sales ability.
You need all three to close 90-100% of the time.
For example, you can have great quality leads an, excellent brand and sales skills. But if your offer sucks, you will still not achieve a 90% close rate. Instead, you'll have a solution that isn't an excellent fit for your client.
One that they will not sign-up for.
So, you can see that a lot goes into it.
But, the reward is significant.
The True Cost Of A Weak Conversation Rate
Think of past referrals and leads who did not turn into a paying customers. Think of the revenue you could have generated if turn every one of them into paying customers.
(I did this exercise myself, and it was staggering the number I came up with.)
But I hope this calculation shows you what achieving a 90%-100% conversion rate can do for your business.
And that it is worth the effort to dial in your offer, marketing, and brand, along with upping your sales skills.
It's not all about sales.
You're mistaken if you think mastering tonality or the art of objection handling will help achieve a 90%+ close rate.
Sorry sales 'gurus' lied to you!
But does it help? Absolutely.
Sales it very important, don't get me wrong. But it's not everything.
Sales Frameworks: How They Will Help You Sell Your I.T Solutions Elegantly And Painlessly.
1. Clients More Open To Your Solution
So, if you have been selling I.T solutions for a while, you know how closed-off new leads can be.
You tell them about what you do and what you have to offer. You share all the features and benefits of what you do, but it seems labored.
You look across, and they're distracted, on their phone or fidgeting at their laptop. You can’t pick up any genuine interested from them.
More often than not, it's because you're pitching solutions.
Instead, you ought to be diagnosing your customer's problem(s).
Why? Because it's a problem(s) driving the sale.
Not your service or product.
A good sales framework will allow you to do that effectively.
If the client feels that you understand them and their problem,
"By talking about the problems our customers face, we deepen their interest in everything we offer." - Donald Millar, StoryBrand
That's a fundamental mindset shift.
Through this, you will find the sale process:
more enjoyable & less pressurized.
allows you to pitch elegantly.
maintain respect and credibility.
2. Have Clients Value What You Do More.
A great sales framework will show the impact of what the problem they are experiencing is costing them.
Whether it be time, money or otherwise.
And in doing so, will heighten the value of a potential solution to that problem. That's a good thing, as your prospect will absorb higher than average prices.
Being a competent salesperson means diagnosing your customer's problem and understanding its impact on their company.
For example, let's say you're selling cybersecurity services to law offices. A good sales framework will allow you to uncover the impact of not having cyber security cover on your client.
It might be $100,000 in potential recovery from a cyber threat.
By uncovering this information in the sales process, your client will be more receptive to a $2,000 per month solution.
3. Build Urgency
A great sales framework is like a thermostat, as it allows you to control the temperature and environment around you.
It builds urgency in the sales process and has customers say "Yes" instead of putting signing up with you on the long finger.
It turns "Implied Needs" —a statement of a buyer's problem, dissatisfaction, or difficulty with the current situation, into "Explicit Need"—a clear statement of a buyer's want, desire, or intention.
With that, you'll never hear common objections like "let me think about it" or "send me a proposal."
Conclusion
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