A wonderful sales closing lever is the validity date on a proposal or quotation. However it is a technique that is rarely taught and so it is rarely used.
Most sales executives don’t even highlight the validity period when they are presenting a proposal. Organisations seem comfortable to let the decision period slide. Perhaps it’s because they don’t want to loose an opportunity, or perhaps it’s simply because they don’t have a documented step-by-step sales system that includes this key aspect.
The technique we recommend does not rely on a pushy request to order on the expiry date. Rather it is a pre-planned, multi-step system that positions you as their partner and invokes “FOMO” (fear of missing out).
Here is a five step system to leverage the validity period of your quotations or proposals:
1. Advise the prospect when presenting your offer that it is valid for a certain period (e.g. 30 days) and ask if this is enough time for them to make a decision.
2. At 25 days post proposal delivery ring the prospect and advise that your system has alerted you that the offer will expire in five days.
3. Rather than push for an immediate close, ask if you can help them. Ask, “If the concept is still relevant and you are progressing internally, would you like me to see if I can get a fourteen day extension for you. If it’s no longer relevant we can rule a line through this proposal and revisit when timing is better
4. This technique forces a decision one way or the other. If the response is positive send a note extending the proposal validity for just 14 days.
5. If the prospect is not ready to proceed, place them back into our ongoing marketing system for future jobs.
To find out more about our online workshops, sales manuals and consulting services visit The Sales Coach Online.