Friday is NOT National Contract Signing DayPosted: April 14, 2013 Giving a deadline to receive signed paperwork on Friday? Think again my friend. Contrary to sales professional legend, Friday is NOT National Contract Signing Day for sales professionals and customers. It’s not even a hallmark holiday! Plus, most businesses are open Monday, Tuesday, Wednesday, Thursday, and AH YES…Friday. So why narrow your window on getting back a signed contract to the last day of the work week? This also falls in line with giving deadlines at the end of the month. Why do it? Did you know that of the 260 work days in 2013, there are only 53 Fridays? That’s 20% of the work week and it’s the bottom of the work week. That narrow time frame often leads to customers leaving the office early, not coming in the office at all, increase procrastination, and easy avoidance from sales professionals. This all adds up to miss forecasts, zero weeks, and your ticket into the Chasing Customer For Signed Paperwork Marathon. Want to increase your success and take your game to the next level?
Start by setting up close appointments on Monday. Who doesn’t walk around proudly with a huge smile when they start the week off with a signed contract? It just feels good! It takes the pressure off, and gives you momentum.
Secondly, set proper expectations up front and get the customer’s buy in. Be specific and spell out when you will meet and what the purpose of the meeting will be. This puts you in a position of power and it is up to you to make sure the meeting is not on one of those 53 Fridays – keep in mind we want to avoid those days if we can. Remember, you have 80% of the work week (M – TH) that you can use to schedule a close meeting. If your service or solution involves training of any sort, provide your customer with an implementation plan with set dates and times. Doing this helps you move the sale along the funnel, and keeps your customer engaged in the sales process. In addition, it is a great strategy to show customers that you will aid them in their transition from previous solution to the new solution and that helps you find new issues that will create new opportunities for your business – it’s a continuous cycle with endless commission awaiting you.
Lastly, make a rule that you will not conduct closing appointments on Friday, unless it is absolutely necessary. This does not mean that you take every Friday off. It means that you take control of two things. The first is take control of your calendar and remain discipline to your weekly objectives. To be specific, your calendar is not always open. Plan your activity and work your closing meetings into that schedule with the agreed consensus of your customer. Don’t be foolish, if the customer can only meet you on a certain date and time, and you can make it work, then make it work. What I am stressing is managing your activity in a manner that yields the best results for your time and business. Said differently, as you are closing a deal, you will need to replace it with 2 – 3 opportunities so you must continue to move deals along and grow your funnel. It is not a one for one ratio where you close one deal and you add one new opportunity. Most opportunities to close ratios are several opportunities to one closed contract.
Here’s to getting out of the gate fast in Q2 and no longer observing every Friday as National Contract Signing Day.
Next post coming up… state capitals and sales metrics…huh? You’ll get the connection in seven days.
Happy selling my friends.