6 Ways to Increase Your Closure Rate and Establish Great Client Relationships!

Have you ever had a meeting with a prospect and left away feeling good about how it went? You were asked to submit a quote, an estimate or proposal. You rushed back to the office, spent time preparing numbers that you knew would get you the job. Then....nothing!

Do you know what went wrong? Do you know what your closing rate is based on the proposals you send? 90%? 50% ?10%? Zero?

If you're not closing the majority of the business on which you quote, perhaps the following 6 ways might give help you improve your closure rate.

1. Are you meeting with the person who can make the decision to buy?
By asking this important question BEFORE your meeting, can save you a great deal of time. Don't spend time speaking with someone who needs to "clear it first." If the person you're meeting with isn't the decision maker, ask to have that person present at the meeting, also. If it's going to be a committee decision, ask to present at the next meeting. Don't ever let a prospect deliver your proposal for you! The prospect isn't qualified to answer questions.

2. Why do they need your service or product?
Ask these questions at the beginning of your meeting (or preferably before):

a. Why do you need it?;

b. How will you use it?

c. Why do you need it?"

d. Who have your purchased it from in the past?

Ask why they are interested in changing their supplier (or are they just trying to get a lower price out of the current supplier?) Ask about their relationships with other suppliers.

3. How are decisions made?
Is there a checklist or important criteria on which business is awarded? What are their payment terms? If someone responds by lowest price, ask them to define this. If their only criteria is this, walk away...because as soon as someone beats your price, you'll lose them anyway. Remember you want to develop long term relationships.

4. Don't fax or send the quote!
You're not in the business of giving away free pricing information. Speak to someone in person to close the deal. Ask for a meeting to present your proposal. If they don't want to meet, they aren't serious about doing business with you. If a prospect asks for a rush quote, this probably means a price comparison is being conducted so they can justify going with a preferred supplier. Don't waste your time.

5.Learn to qualify leads.
Ask better questions upfront to save time. Here are the times to pass on giving a quote:

a. If they won't meet with you to discuss your proposal.

b. If you're speaking with a clerk, rather than the decision maker.

c. If they won't let you meet the decision maker or committee for a presentation.

d. If the answers you get don't match up to what you were told in the beginning.

Value your time and expertise. When you determine the person you're meeting with is truly a prospect - and not just price shopping - you'll find that not only will you save some previous time, you'll also begin the to establish a long term relationship!