Securing the Deal: Post-Pitch Strategies for Sales Success

The Pitch Went Well Now What? Here's what to do before you propose…

The Pitch
The pitch is over, and it went well — the prospects seemed engaged, asked the right questions, and nodded at all the right places. But the work is far from over. According to a study by CSO Insights, the average win rate of forecasted deals is only 47.3%. This statistic underscores the importance of post-pitch actions in securing a deal. What you do after a successful pitch can significantly influence the outcome of the sales process. Let's explore the critical steps to take before proposing that can help turn that well-received pitch into a solid sale.

Understand the approval process.
Understanding the client's approval process is crucial in navigating the post-pitch landscape. It's about knowing who calls the shots, what criteria they use, and the timeline they follow. This knowledge allows you to tailor your proposal to meet the specific requirements and concerns of the decision-makers. In "The New Strategic Selling" by Robert B. Miller and Stephen E. Heiman, the authors stress the importance of identifying and addressing the unique needs of each decision-maker involved in the sales process. By understanding the approval process, you can anticipate objections, prepare relevant data, and align your proposal with the client's strategic goals, thereby increasing your chances of a favorable outcome.

Have you talked to everyone?
Talking to all stakeholders is a step that cannot be overlooked. Each stakeholder may have different priorities and concerns that need to be addressed. In "Selling to Big Companies" by Jill Konrath, the author highlights the complexity of selling to large organizations with multiple influencers. She advises sales professionals to ensure they've engaged with all relevant parties to avoid any last-minute surprises. This comprehensive approach not only helps in building a consensus but also demonstrates your thoroughness and commitment to understanding the client's business.

Help your champion sell it.
Your champion within the client's organization is your ally, but they need more than just your enthusiasm to sell your proposal internally. They need ammunition in the form of data, case studies, and a compelling narrative that they can use to persuade others. In "The Challenger Customer: Selling to the Hidden Influencer Who Can Multiply Your Results" by Brent Adamson, Matthew Dixon, Pat Spenner, and Nick Toman, the concept of equipping your champion with the right tools is emphasized. By providing your champion with tailored materials, you're not just making their job easier; you're also increasing the likelihood of your proposal being received favorably.

Know the procurement process.
The procurement process can be a minefield of red tape and bureaucracy. Understanding this process is essential to avoid delays or roadblocks that can derail a deal. "Negotiating with Backbone: Eight Sales Strategies to Defend Your Price and Value" by Reed K. Holden guides sales professionals through the complexities of procurement. It suggests that knowing the procurement process helps in aligning your proposal with the client's purchasing policies and timelines, which can be a decisive factor in closing the deal.

Ask "What happens if you do nothing?"
Understanding the consequences of inaction is a powerful tool in the sales process. It helps the client visualize the cost of not solving the problem your product or service addresses. This question can often bring to light the urgency of the issue and the value of your solution. In "SPIN Selling" by Neil Rackham, the significance of problem questions that make the buyer realize the implications of their problems is discussed. By asking about the repercussions of inaction, you're not just selling a product; you're providing a solution to a potentially costly problem.

Or "What happens if we don't do it by a certain date?"
Imposing a sense of urgency can be an effective strategy, but it must be done with tact. Asking about the implications of missing a specific deadline can help prioritize the deal in the client's mind. This approach is supported by "Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal" by Oren Klaff, where creating a sense of urgency is a key tactic in deal-making. It's about making the client see the time-sensitive benefits of your proposal and the risks associated with delay.

So What?
The steps taken after a successful pitch are critical in moving towards a closed deal. Understanding the client's approval and procurement processes, engaging with all stakeholders, empowering your champion, and highlighting the cost of inaction are all strategies that can help secure a 'yes' from the client.

Next Steps
✅ Map out the client's approval process.
✅ Engage with all stakeholders.
✅ Equip your champion.
✅ Learn the procurement details.
✅ Highlight the cost of inaction.
✅ Stress the urgency of timelines.

Closed Won!
A great pitch is just the beginning. After a successful presentation, what are your next steps to maintain momentum and close the deal? Share your post-pitch strategies and let's learn from each other's experiences to master the art of the close.

Leave a comment or question below, let's help each other, and our reps move those deals to "Closed Won!"