Every holiday season, you'll find managers screaming at their reps to close more deals. Why? Well, let’s face it, deals closed on December 31st carry more weight than deals closed on January second.
The holidays are a stressful time for salespeople, but much of that pressure is self-imposed. The problem stems from salespeople using the same strategies to close business in December that they use to close business in July. End-of-year selling requires a different approach.
Here are three ways to sell differently this holiday season. Employ these tactics now, and you might be able to enjoy New Years for the first time in your sales career.
3 Ways to Close Deals Around the Holidays
1) Make your end-of-year close December 10th
Any concessions (whether pricing or terms) should expire on December 10th instead of December 31st. This forces negotiations to take place before stakeholders in Procurement and Legal are out of the office -- something your well-meaning prospect might not have considered.
If you introduce an expiration date for terms or discounts and your prospect says they’ll still need a few weeks to decide, say, “That’s fine, but this current discount will expire on December 10th.”
This distances you from the stress of closing deals during the holidays and shifts the scramble to your prospect.
If they still can’t close by December 10th but are actively interested in locking in a discount or terms, ask your prospect what they can do by the 10th.
If they can give you something as simple as a purchase number, you’ve succeeded in moving the deal forward. But hopefully the urgency of an expiring discount gives your prospect the push they need to meet your December closing deadline.
2) Close for post-sale activity
Representatives from your prospect’s Finance, Legal, and Procurement teams, and much of the executive staff, will likely be busy or on vacation beginning December 15th. While most mid-level prospects are winding down for the year, Operations and Executive teams are often busy finishing important paperwork, planning for the new year, and balancing budgets.
Without these stakeholders, even your most eager prospects won’t be able to move their deals forward. The solution? Close for post-sale activity.
In mid-November, tell your prospect, “Nick, I know you want to get this product/service implemented as quickly as possible. You should know our January onboarding schedule is booking up fast. If we don’t get this scheduled in the next week, it might be February or March before we can onboard you.”
If you’ve inspired enough urgency, your prospect should say, “Oh really? Is there anything we can do to secure an earlier onboarding slot?” Reply, “We have a few spots open in December. If we can get the paperwork finalized, I’ll schedule your onboarding for next week.”
When you explain that waiting until January to close will push onboarding/training until February or March, it puts the advantages of closing quickly into perspective. That can be the jolt your prospect needs to attain final approvals as soon as possible.
3) Push new business to January
This might sound contrary to sales nature -- but hear me out. Most new opportunities in mid-to-late November are not going to close by the end of the year. This means they’re simply taking up time and resources you could be using to close existing opportunities.
If a prospect’s requesting a December demo or late-November trial, simply say, “I’m afraid our trials are spoken for through December, but I can get you scheduled first thing January.”
Your prospect might say, “Great, let’s get January in the books,” which allows you to focus on deals that have a real chance of closing before the end of the year. And if your prospect says, “Is there anything you can do to squeeze us in this December,” this signals you have a motivated buyer who might close quickly. Capitalize on their eagerness, and move forward accordingly.
Instead of packing your December calendar with demos and trials, book a plane ticket to that client who’s just about to close, or devote extra time to coaching a prospect through gaining executive buy-in. These are subtle shifts that will help you come out on top of your end-of-year number.
Your holiday sales playbook must go beyond offering discounts. Your customers are smart. They know you’re trying to close as many deals as possible around the holidays. They also know the discount you’ve extended or the special terms you’ve offered are just there to get them to sign on the dotted line.
Try a different approach, and see how the holiday selling season treats your stocking this year.