In sales, the line between winning and losing can often feel razor thin. However, towards the end of a deal, one competing party will usually have secured a sizeable advantage. The real question is, do you know who it is, and do you think it is you?!
It's easy to deceive ourselves into thinking we're ahead when we might be at competitive parity or, worse, falling behind. Human psychology plays a significant role in this self-deception. Our minds naturally seek positive reinforcement and tend to avoid uncomfortable truths, leading us to overestimate our standing in a deal. Internal scrutiny might also cause us to represent the deal in a better light than it might actually be.
Recognizing the true state of your position can mean the difference between closing a deal and watching it slip away. This is also why it is important to use sales science tools and methods to assess a deal based on fact and evidence, not on opinions!
Here are six telltale signs that will help you figure out in the later stages of a deal whether you are winning or losing:
- Do You Have a Powerful Client Stakeholder Taking Personal Risk for You?
One of the single best predictors of whether a deal will close is that you have a key client decision maker who not only buys into your proposition, but who is willing to take on internal political challenges to fight for it. This person, a Partner Ally, stands to significantly benefit from the proposition and therefore has a closely aligned personal agenda. This alignment can lead to a more successful deal closure. The Partner Ally, ideally within the top 2 or 3 most power decision making positions in their organization, or what we call the Base of Power, can be a game-changer. If this key client champion is showing signs of backing out the fire escape when faced with political resistance, they are likely only a Supporter or possibly even Neutral and not a true Partner Ally. If you don't have a Partner Ally in the Base of Power in the closing stages of a deal, you are at a much higher risk of losing. As a sales professional or business development team member, it's your responsibility to develop a Partner Ally. The most effective way is to work on more closely aligning your proposition with their personal agenda, as well as their business goals and needs. Equipping and supporting them in tackling any internal opposition is critical.
- Have They Told You That You Are Winning?
It might sound obvious, but in the late stages of a deal, if the client hasn’t told you that they have selected you, you are probably not winning. The difference between “You have a strong chance, but we are still comparing our options” and “I can only do this with your solution, but I need to convince a few others” is huge. If it’s the latter, they will be standing on the same side of the fence as you and asking you for coaching on how to convince their other stakeholders. You are no longer selling TO them. You are selling WITH them. If you are still selling TO them, this is a clear sign they are still undecided, or the competition may be ahead. Experienced sellers will create client situations to solicit this verbal acknowledgment and then shift gears from selling TO the decision maker into helping them ‘justify their decision.’
- Can the Client Make Your Elevator Pitch?
When your Partner Ally articulates why you are the right choice and why your value proposition stands out from the competition, you're in a strong position. This articulation should be clear and precise and highlight how your solution meets their specific needs better than anyone else. It demonstrates that they understand your offering and are prepared to advocate for it. If your Partner Ally can't do this, it suggests that your value proposition isn't as compelling as you think, or they still need to buy into it fully.
- Are They Speaking to You Frequently?
Silence or infrequent, arm's length interactions towards the end of a deal are bad signs. High interaction levels indicate that the client is fully engaged, interested, and actively working with you to move things forward. If your client is not reaching out, they are likely engaging more with your competition. If you need to get this level of interaction, it's time to reassess your position and re-engage with your client to uncover any concerns or objections they might have.
- Do You Have a Joint Close Plan?
A joint close plan is a collaboratively developed set of steps and actions both you and your client will take together to close the deal successfully. Having a joint close plan signifies that your client is serious about moving forward with your solution and is willing to commit to the necessary actions to finalize and get the deal approved. If your client hesitates to create this plan, it may indicate lingering doubts or a lack of full commitment. Rather than trying to collaborate to create this plan at the end, work on gaining client collaboration in a joint plan from the start. By proactively establishing this plan with agreed governance, the client will already be in the mindset that this is a jointly owned initiative.
- Has the Conversation Shifted to Execution?
When your client starts preparing to move into execution with you, it's a positive indicator that you're winning. The shift in focus from decision-making to implementation shows that they are not only convinced of your solution's value but are also ready to move forward with you. You can also use this technique as an assumptive close, gauging their readiness by discussing the next steps and execution details. If they are reluctant to engage in these discussions, they may be less committed than you'd like to believe.
Recognizing these five signs can help you accurately gauge whether you're winning or losing in the final stages of a deal. If the answer to most or all these questions is no, don't fall into the trap of denial, believing you are ahead when you are not. Instead, stay vigilant and understand the importance of being honest with yourself and others about where you think you truly stand. This responsibility will make you more accountable and prompt you to ask for help when needed!
It's far better to take risks at the beginning of a deal to shape the client's mindset and selection criteria than to scramble at the end. This underscores the importance of good qualifications and a winning strategy from the start. But if you must take significant chances towards the end, do it. Otherwise, you could be sleepwalking into a loss and wasting months of effort.
Personal Challenge: Take a current deal you're working on and answer these six questions. Score the strength of your answers on a scale of 1 to 5 and use this as an analysis to help assess your true position. Identify areas where you may have vulnerabilities. By doing this, you'll not only increase your chances of winning but also sharpen your ability to read and respond to critical deal signals.