For many people, November means the kickoff of holiday festivities, quality time spent with loved ones, and the excitement of upcoming vacation days doing as little as possible while another year officially draws to a close. However, for salespeople, Q4 can be stressful. Not only are you feeling the pressure to hit (or exceed) your sales quota but you’re also working hard to close deals with clients that may have already flipped the switch into holiday coasting (aka “let’s make this purchase next year”) mode.
Yes, this final quarter brings with it numerous challenges as you strive to generate as much revenue as possible before year-end. However, these last few weeks also deliver multiple selling opportunities as well. Time may be running out – but it’s not too late to leverage several Q4 sales strategies to help you achieve your goals before the holidays, so you can actually enjoy them this year.
1. Start With The Pipeline
When was the last time you carefully evaluated your existing pipeline? If it’s been awhile, take a moment to glean through your prospects, refreshing yourself on potential marketplace needs and connecting with anyone deemed a high priority for a final push. If your current pipeline seems pretty sparse, it’s officially time to launch an outbound attack to start filling it up, stat. Consider sending a “where did this year go?” email to both current clients and warm leads that reminds your buyers that Q4 is fleeting fast, and you’re ready to help them finish out their year strong with various product, services, and strategies.
2. Know Your Customer
Sure, you may find some potential clients have pushed the hold button on purchases until January. However, many companies adhere to a “use-it-or-lose-it” policy with budgets and spending. Typically, these businesses and departments will underspend during the first three quarters of the year to ensure they don’t prematurely max out designated allocations. As year-end approaches, there is a renewed sense of motivation and urgency to spend, spend, spend. Make it easy for them to preserve their budgets for next year by proactively reaching out with mission-critical information and solutions that address their specific pain points now.
3. Get Creative With Your Pricing Packages
Let’s face it; everyone loves a great holiday deal. Many buyers purposely wait until Q4 before making a major purchase to find needed products and services at the best price points possible. Use this information to your advantage by creating various end-of-year promotional pricing, discounts, and specials that resonate with your client base to convert them from prospects into customers.
4. Slow And Steady
It’s easy to get overwhelmed thinking about how many deals you’ll have to close to achieve your Q4 goals. So don’t. Instead, set small, attainable quotas to focus on every day. According to Harvard Business Review, setting smaller daily sales goals boosts overall productivity by nearly 5% to keep you motivated and incrementally moving towards your final targeted revenue before time is up this year.
Here at SPOTIO we have two sales cycle lengths: a 17 day and a 90 day. Depending on the length of your sales cycle, Q4’s destiny may already be set. For those whose cycles are longer (more than 60 days), take this time to plan your execution strategy for Q1; because there’s no way you will be able to hit your number in time. But if you have any deals that will fall into the quick (under 30 days) cycle timeframe, put all your focus and energy into closing those. Because these are your ticket to knocking your Q4 quota out of the park… in the nick of time.
What are some of the ways you stay on track to hit your year-end numbers? Tell us about it in the comments section below.
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