Don't lose deals: Set next steps

Mike’s post is all about the importance of knowing what to do next in sales. If you don’t have a next step planned, you might lose the deal.

Here’s a breakdown of his advice:

1. Plan ahead

Before any meeting, decide what the next step should be so you're ready to suggest it.

2. Prepare your pitch

Write down what you usually suggest for next steps, like showing a demo or discussing pricing, and why these steps help the customer.

3. Watch the clock

Make sure to save at least 5 minutes at the end of your conversation to set up the next step, even if you have to cut in to do it.

4. Understand your customer

Really dig into what the customer needs and show how your solution is different and better.

5. Show quick demos

Give a short demo focusing on something your customer really cares about. It makes them more interested in talking again.

6. Be direct with suggestions

Don’t ask the customer what they think the next step should be; tell them confidently what you recommend.

Meetings that lead to next steps 90% of the time

Morgan J. Ingram shares his approach for running effective sales meetings:

1. Prepare

Morgan sends out an agenda before the meeting so everyone knows what to expect, including the next steps.

2. Start with a plan

At the start of the call, he reminds everyone about the agenda and what they're aiming to decide by the end.

3. Lock In next steps

Towards the end of the meeting, he spends a few minutes confirming the details for the next meeting, like who needs to be there and when it should happen.

4. Schedule on the spot

He uses Calendly to book the next meeting right then and there, which keeps things moving smoothly and avoids anyone forgetting to follow up.

5. Follow-up email

After the call, Morgan sends a summary email that goes over what they talked about and clearly lists the next steps and deadlines.

This approach makes sure everyone knows what’s coming next and that there's a clear plan in place before the meeting ends.

The 5 minute drill

Armand discusses how to smartly set next steps in sales, cautioning against doing so for every deal without discernment. Here’s a simpler breakdown of his advice:

Evaluate the deal

Before setting any next steps, make sure the deal is worth pursuing. Don’t just proceed with every opportunity; focus on the 'real' ones.

Use the five minute drill

At the end of every call, use three questions to decide whether to set next steps:

• Do you wanna buy? Check if the prospect is serious by asking if they see value in continuing to invest time together. This can involve deeper engagements like demos or discussions for solutions.

• When do you wanna buy? Understand their timeline. If they need a solution soon, you can move forward with urgency. If it's a distant need, reevaluate the priority of the deal.

• How do you wanna buy? Suggest next steps tailored to their buying process, planning immediate and future actions that align with their timeline.

Confirm next steps

Always suggest and confirm the next steps, guiding the prospect through a structured sales process rather than just a one-off meeting.