Accelerating the sales decision-making process is a key part of increasing your sales velocity.
The speed of your sales cycle has a direct impact on business growth. Faster decision making allows you to turn your attention to new clients and win more deals; slow decision making eats up valuable time and limits progress.
Speeding up decision making is a topic that comes up frequently in our sales coaching sessions. This article will give you six ideas to start with, from building urgency to winning over multiple stakeholders.
Visit the other articles in our sales velocity series here:
The first step in speeding up decision making is to show clients what’s in it for them personally.
It’s normal to focus on the benefits for the wider business in your sales pitch. But if your main stakeholder isn’t personally invested, deals can slow and eventually stagnate.
Make sure your client sees how your solution will affect them as an individual. You can do this by focusing on one question: why is it worth their time?
Ideally, you want to reach the point where your client feels a sense of ownership over your offering. It’s no longer just your solution: it’s their solution. Once they reach that point, they’ll be more likely to:
The majority of deals are single threaded, where the rep has one core point of contact. But there are more decision makers than ever – an average of 11.2 stakeholders are now involved in the process.
It doesn’t marry up. Focusing on one champion puts the deal at risk, because they could easily leave or be overridden by others. So how do you mitigate this risk?
You need to take everyone on the journey. Reach out to different stakeholders to understand:
Over 50% of deals end up in no decision.
The biggest reason why? The stakeholder group can’t decide whether to change from the status quo or how to make the decision. This is a rut you don’t want to fall into, because it’s difficult to climb back out.
Make a case for change from the start. Your first interactions have a huge impact on the speed of the sales cycle later on, so create urgency from the beginning. Don’t wait for your main pitch to be delivered.
It’s important to understand your client’s problems, but also how they’re prioritised.
Learn where the challenge you’re solving sits in their priorities. Show them what will happen if they don’t act now. If it feels like a significant problem, they’re more likely to prioritise it and commit to change. This makes it much easier to speed up the sale.
You can also bring these implications to life by sharing stories from other companies you have helped before.
Many stakeholders’ first connection with your business is via a proposal or presentation. At this stage, it’s late in the sales cycle – but there’s still work to be done.
Remember, you need to:
To speed up the process, create collateral that factors in the perspective of the stakeholders. Your collateral should answer these questions:
If the documents you send don’t answer these questions, your deal is at risk of losing priority to something else.
Even with the best sales collateral, it’s still on your champion to get the deal over the line. You need to help them fend off objections from other stakeholders.
Be collaborative. Work with them to:
Want more expert tips on how to increase sales velocity and drive business growth? Download our free Sales Velocity whitepaper, follow us on LinkedIn for updates or sign up to our newsletter at the bottom of this page.
Selling in a tough climate – the challenges
31st January 2023
Sales 2023 : Three big questions
30th January 2023
Flume’s trends and predictions for the events industry
30th January 2023
5 Steps to Power your 2023 Pipeline
14th December 2022
5 Key recession-busting sales behaviours
13th December 2022
Sales Innovation Expo 2022 Trends
30th November 2022
How to align your customer success team with your sales process
2nd November 2022
Sales velocity: How to increase average order value in sales
17th October 2022
Sales velocity: Increasing the number of sales opportunities
17th October 2022
28 Sales Acronyms used daily
8th September 2022
Sales velocity: Speeding up the decision-making process
24th August 2022
Sales velocity: How to improve conversion rates
13th July 2022
Sales kick-off meetings: How to use the momentum to power long-term change
17th May 2022
Drive retention and performance through a sales academy
9th March 2022
Call AI: The sales coaching technology you need in 2022
22nd February 2022
Drive real results from sales training in 2022: Why the traditional model doesn’t work
2nd February 2022
Sales Engagement Summit – Hosted by Raoul
16th December 2021
How business development reps can give buyers the confidence to say yes
3rd December 2021
The biggest mistake sales development reps make (and three things you should do instead)
9th November 2021
Five myths you need to know about customer success teams
11th October 2021
The four levers you can pull to increase sales velocity and how to make an impact
1st September 2021
Outcome Based Selling
3rd August 2021
Why most sales training doesn’t work and what to do about it
1st July 2021
3 reasons why writing a proper proposal is worth your time
18th March 2021
How to win a sales pitch…
26th February 2021
Sales Professionals: Why you shouldn’t assume you’ve got remote selling nailed
15th January 2021
Is your sales team ready for 2021?
4th January 2021
Selling Virtual Events
26th November 2020
Why salespeople must be ‘long-term greedy’: A five-step approach to winning more sales
13th November 2020
Closing skills: Why the pandemic has made it even harder to close that deal and what to do about it.
1st November 2020
Post Covid: How to fill your B2B pipeline with customers who do want to speak to you?
5th October 2020
3 steps for monetising virtual events
15th July 2020
18th May 2020
5 tips for closing in the crisis
4th May 2020
Using audience insights to engage with customers
20th April 2020
Biggest challenge of leading a remote sales team
15th April 2020
“Clients don’t want to engage with me”
6th April 2020
The world has changed – what should I sell?
31st March 2020
Leading remote sales teams
30th March 2020
Selling in a crisis
25th March 2020
Proposal writing research: Why your proposal doesn’t work
17th March 2020
How to accelerate your sponsorship revenue
17th February 2020
How selling to the individual increases your chance of them buying by 2x
7th February 2020
New Year, new rules. How to deliver sales training that actually works!
2nd January 2020
Half of B2B sales people will miss their 2020 targets. It’s time to shift perspective.
18th November 2019
Questions that drive more sales
15th November 2019
How to speed up prospect decision making… PART TWO
21st October 2019
How to speed up prospect decision making – PART ONE
14th October 2019
The biggest mistake salespeople make… and how to avoid it
26th July 2019
You have the right to demand more ROI from your sales training (and here’s how you get it)
16th May 2019
How to grow customer accounts this year
22nd March 2019
5 big sales mistakes from this year
23rd December 2018
How to turn the marketing trust crisis into sales opportunity
5th October 2018
Why is it so hard to find great business development talent?
21st September 2018
It might be hot outside but you still need a SCARF.
12th July 2018
The Peter Principle: Great Salesperson, Crap Manager
25th June 2018
The ‘great deal graveyard’ and how to avoid it
8th June 2018
The secret to selling in today’s market: Old-school to New-school
22nd March 2018
Why people DON’T buy from people they like
28th February 2018
What salespeople can learn from Nike
5th February 2018
Why “yes” doesn’t mean YES
26th January 2018
Take charge of your sales career in 2022
15th January 2018
How sales and marketing must work together to deliver results: tips from the front line of B2B selling
20th July 2016
6 facts and stats B2B sales people cannot ignore
26th May 2016
The amazing power of stories and 5 ways to make them sell
15th October 2015
The trouble with Blitz Days and how to increase their effectiveness
7th October 2015