How to uncover competing vendors

It’s getting close to the end of the year, and every connection feels like it needs to turn into a deal. But how can you close a deal when prospects keep ghosting you, especially when money enters the conversation? Here are five tips to help prevent prospects from ghosting after you send a proposal.

The Real Reasons Prospects Disappear

·  Here are two root causes of why ghosting usually happens:

o  The prospect isn’t truly committed to solving their problem.

o  The pricing isn’t aligned with their expectations.

·  Try to differentiate between prospects who are simply gathering information and those who are genuinely committed to taking action. This helps address the root causes of ghosting.

Discuss and Establish the Budget Upfront

·  Never skip the money conversation. Sales is ultimately an exchange of money for value, so start the discussion openly and early. 

·  Provide a price range rather than simply asking if they have a budget. This helps anchor the conversation and makes the topic less awkward.

Understand the Buyer’s Decision-Making Process

·  Ask how decisions are made, when they happen, and who is involved. Go beyond generic questions like,

“Are you the decision maker?” Instead, ask about their process:

o  Are they evaluating price only, or are features and other factors involved?

o  Do they use a scoring system or other internal criteria?

o  Who else will be part of the decision

·  Probing these areas helps you avoid surprises and ensures you stay involved throughout the process.

Use a Mutual Action Plan

·  Create a mutual action plan that outlines tasks, milestones, deadlines, and responsibilities for both sides. 

·  This doesn’t require fancy software. A simple spreadsheet works just fine. Having a shared plan reduces ghosting by making next steps clear and mutually agreed upon.

Set a Proposal Review

·  Instead of emailing a proposal and hoping for the best, schedule a meeting to review it together. 

·  Even a ten-minute call can make a difference. This allows you to explain details, clarify pricing, address questions, and confirm alignment before moving forward.

“Sales is where you’re exchanging money for a product or a service. Why would that be awkward when that is the most important part of the whole process?” — Donald Kelly

Resources

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Sponsorship Offers

1.  This episode is brought to you in part by Hubspot.

With HubSpot sales hubs, your data tools and teams join a single platform to close deals and turn prospects into pipelines. Try it for yourself at hubspot.com/sales.

2.  This episode is brought to you in part by LinkedIn.

Are you tired of prospective clients not responding to your emails? Sign up for a free 60-day trial of LinkedIn Sales Navigator at linkedin.com/tse.

3.  This episode is brought to you in part by the TSE Sales Foundation.

Improve your connection on LinkedIn and land three or five appointments with our LinkedIn prospecting course. Go to the salesevangelist.com/linkedin.

Credits

As one of our podcast listeners, we value your opinion and always want to improve the quality of our show. Complete our two-minute survey here: thesalesevangelist.com/survey. We’d love for you to join us for our next episodes by tuning in on Apple Podcast, Google Podcast, Stitcher, or Spotify. Audio provided by Free SFX, Soundstripe, and Bensound. Other songs used in the episodes are as follows: The Organ Grinder written by Bradley Jay Hill, performed by Bright Seed, and produced by Brightseed and Hill.