How to Win More High-Value Sales Deals and Avoid Wasting Time on Low-Probability Client

Most sales professionals chase deals with little chance of success—here’s how to focus on high-probability opportunities and increase your win rate.

The salesperson accepts the RFP, excited by the prospect of closing a deal with a large client, bringing revenue to their own company, and securing a large commission. The salesperson isn’t thinking about their probability of winning the deal, which is almost certainly very low.

Why? Win rates aren’t something we talk about much.

An RFP has around a 12 percent chance of being won by a salesperson. Without anything to improve the probability of winning the deal, you are what is described as “column fodder.”

Some companies are not right for you or your company. You may have a gargantuan prospective client known to buy from the company offering the lowest investment. If your company is not a bottom feeder, your odds of winning a prospective client looking for the lowest rate are close to 0 percent.

When you use time pursuing low-probability clients, you have less time to spend with higher-probability clients who can truly build your portfolio. This is about competition for clients. The sales reps who are capable of winning the high-probability deals are better off leaving the low-probability clients to their competitors.

Proven Strategies to Improve Your Sales Win Rate

1. Be Known: The first way to improve your ability to win a deal is to be known as an authority and an expert in your industry. Your probability of winning a deal increases when the decision-makers and leaders know you. If you aren’t known, your probability is low.
2. Master Effective Sales Communication: To have a chance at winning a deal, you must communicate with your contacts effectively. To do this, use insights and information that compel them to read what you’ve shared. Clear insights that resonate with the decision-makers and their task force will increase your probability.
3. Build Stronger Sales Relationships: If your contact willingly takes your calls, you increase your ability to be seriously considered when your prospective client decides to change suppliers.
4. Offer Unique Solutions That Drive ROI: When you have something new and novel that can help your client get better results, you may improve your chances. If you can get a meeting, you can increase your odds.
5. Engage Key Decision-Makers in Meetings: Having the right people in the meeting improves your chances of winning the client.
6. Optimize Your Sales Conversations for Conversions: Your sales conversations, when done well, may improve your probability of winning. If you use a modern methodology, you may be able to bend the probability in your favor.
7. Control the Sales Process for Better Outcomes: You will find the strategies for controlling the sales process in The Lost Art of Closing: Winning the 10 Commitments That Drive Sales. It is important that you sell more often than your clients buy. You improve your probability, and, if done well, you may find yourself as a trusted advisor.
8. Influence the Client’s Decision Criteria: When you are knowledgeable, you can influence how your clients evaluate their options, including your solution. Get a meeting early in the client’s buying process, if you can. If you are looking at an RFP, you have a lower probability of winning a client’s business. You can increase your success by developing your relationship before they prepare an RFP. That way, you can advise them on what to include to ensure procurement doesn’t eliminate options before your client knows about them.
9. Secure Executive Buy-In for Sales Success: A high-level contact who cares about the results you can deliver will bend the probability in your favor.
10. Facilitate Consensus among Stakeholders: Provide the conversation that allows your client to find the consensus they need to move forward.

These strategies work best long before an RFP is circulated. To increase your win rate, focus on high-probability prospects, and create more of them, by dedicating time to build relationships and earn a role as a trusted advisor.