5 Ways to Close a Pending Business Deal
Imagine the following scenario: You've been wining and dining a potential customer for several months. You're piecing together a solid proposal based on your customer's business and technology needs. So how can you actually win this lucrative customer engagement? Here are five tips, including The VAR Guy's own spin on the situation.
The foundation for this blog comes from Pamela R. Contag, CEO of Cygnet Biofuels. That's not exactly a VAR or IT service provider. But Contag's tips — shared in Inc. magazine — certainly apply to the IT channel. Here's a closer look…
Tip 1: Know your customer's core business. The VAR Guy's spin: You've got to understand your customer's pain points, business priorities and ultimate goals. Only then can you develop a technology plan that aligns with your customer's goals.
Tip 2: Don't pursue business simply to pay your bills. The VAR Guy's spin: As an IT service provider owner, you may be desperate to meet payroll or to generate cash flow. But if you consider the deal a do-or-die engagement, you're probably doomed to begin with.
Tip 3: Work to build trust. The VAR Guy's spin: Trust comes from honest advice that serves the customer (not your wallet) first. Have the guts to recommend a lower-cost solution if it's good enough for the customer.
Tip 4: Patience is a virtue. The VAR Guy's spin: Sure, it could take time to win the business. But don't get strung along. Is the customer really interested in your solution, or merely taking your call — again — to be polite? Know the difference.
Tip 5: Don't be biased by your contact's title. The VAR Guy's spin: Of course your goal is to reach the budget holder. But sometimes that requires a bit of extra research — meeting two or three company insiders before they finally lead you to the budget holder (assuming they trust you).
Those are solid tips, care of Contag. But are they enough to help you close more VAR business? The VAR Guy is listening…