We are in the final weeks of 2022 and some sales teams need to close more deals before year end to make quota. The big question is “What can I do in the last few weeks of the year to close more sales?”
Here are four year-end sales tactics.
Work your best opportunities and best customers
Focus on closing your best opportunities. These are the ones where you’ve fully qualified the prospect and they are nearly ready to buy. While you’re at it, reach out to your best customers – those you have a strong relationship with and make regular purchases – to see what purchases they can pull into this year or how much budget they have available to spend before the end of the year.
Move January (or February) purchases forward
Get creative. Brainstorm with your customers to move sales from early next year into this year. You may need to provide some incentives such as bundled services or extended maintenance but often customers are willing to help you out if (1) they have a need and (2) they get value for acting sooner.
Bundle extra services or licenses to get over the line
I’m not a fan of price discounting, however, you may offer your customer additional enticements to purchase this year rather than waiting until next. Enticements may include bundling together products and services for one attractive price, offering additional user or site licenses if they act before year end, or providing expedited shipping and delivery if ordered by a defined date.
“Use it or Lose it” Budgets
Many customers still have budget to spend in the current year. Often, if customers or individual departments don’t fully spend their budgets the funds are returned to the company. They are not rolled over into the new year. To the department, the money is lost forever. Use it or lose it.
You may be able to sell your product or solution such that your customer can use this year’s budget. Give them an opportunity to use budgeted dollars and get value to fill a need.
While working hard to close business this month, remember that your customers have priorities as well.
TechCXO Can Help
We’d like to help you achieve your business success goals. As a partner at TechCXO, I work with companies to build effective sales and marketing teams. I help companies put processes in place, implement metrics to measure success, train teams to develop skills and knowledge, and hold team members accountable for their results. I can work with you as an interim, fractional or mentor executive. I also execute specific projects as needed.