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Time & Business Deals: Why These Two Should Be in Harmony

Time & Business Deals: Why These Two Should Be in Harmony

Closing business deals is a huge part of running a business. No matter what industry you’re in, you will inevitably need to establish effective partnerships and make successful sales so your company can grow. It takes a lot to do this, from well-thought ideas to engaging presentations, and more.

However, there’s one not-so-secret component you have to be mindful of if you want your sales to be more productive—and that’s timing.

The adage “timing is everything” is quite popular, and in the context of your sales strategy, it’s relevant more than ever. If you’re too pushy, you become aggressive; if you don’t act right away, you can lose your prospect in a snap. It’s a delicate art and not one you can master right away.

In the course of your business, you win some and lose some. But the sooner you learn about the power of timing, the sooner you know that there is a way to remedy this early on.

To paint a clearer picture, let’s zoom out and focus on the concept of timing. There are a lot of things it can influence, just like the following:

  • Chances of converting a lead are 100 times higher if you call within the first five minutes of them signing up.
  • Plenty of studies have been dedicated to know the optimal post times on social media, as well as the best times to send an email.
  • The success of your business launch or your plan of repositioning it in the market lies in the hands of proper timing.
  • Knowing your prospect’s timeline or deadline can help you use urgency to your advantage when it comes to marketing your proposal.
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Often, the most successful business deals push through not just because of a great idea, but because it was presented at the right time, and there was a steady momentum. Here are more reasons why timing and business deals should be more in sync with each other in your sales process:

1. It follows a more natural pattern

Taking advantage of deadlines or unique situations happening around you and your prospect will add a human touch to your sales pitch. It will make your proposal sound more natural instead of making your client feel like they are just another automated step in a sales process. There’s also more reason for urgency and wanting the deal to progress quickly.

Know what’s happening in your client’s world. If they have deadlines or essential goals that need to be hit within a specific timeframe, they will be more inclined to pay attention to all options laid on the table.

This is your shot at making your proposal as compelling as ever and let the prospect see the value in your service to reach their goals. Personalize your pitch and use the circumstances to drive your point home, so you can eventually close the deal.

2. It shows how responsive you are to your client’s needs

The speed or tempo of your proposal can either be a good or bad thing. A client may feel that they are getting the quality service they want at the fastest possible time, while other times, they could feel rushed, pressured, or annoyed by the constant follow-ups. Being responsive is more of the former.

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You want to create a relationship and momentum with your client, so they see the value your business brings to theirs. Lull time kills deals, too. The more you slack around, or the moment you lose the interest of your buyer, you’re going to have a hard time reviving that again.

You don’t want to seem too aggressive and self-serving as if the deal is just another win for your business alone. Instead, make it look like the partnership will be mutually advantageous and highlight the things that can make both parties prosper.

3. It establishes your credibility

The more times you succeed using this deal momentum strategy, the more your business will grow. You’ll have more chances to broaden your network, too, and share your expertise with more clients.

Business growth doesn’t only refer to higher sales and a flourishing company, though—there’s a recognition that comes with it, too. More companies would want to make deals with you, and you’d be a distinguished competitor among your industry rivals. It’s a domino effect you want for your business, which hits a lot of goals beyond just closing the deal in question.

While your credibility skyrockets, you should also be mindful that other businesses will try to cop your style or use your business as a benchmark for their performance. Keep your strategies fresh, so you don’t let them catch up to you!

Spot the Right Time

Over time, you’ll be able to use timing to your advantage, spot the right triggers, and avoid conflicts that may impede your business deals from moving forward. You can do this by studying behavioral analytics, sifting through relevant data on your website and social media accounts, and tracking your previous deals’ performances. The patterns revealed could be the key to your success.

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Depending on your prospect’s profile and the smooth process of your sales cycle, you can close deals at the right time, all the time.

Author Bio:

Eric Allison is a serial entrepreneur with a high degree of experience in both fields. After putting up several of his own successful Staffing firms and eventually brokering their exit he began his career in M&A. Eric has an in-depth understanding of both the buy-side and sell-side of Mergers & Acquisitions, having had first hand experience on both ends of the deal.