So you’ve closed an account! Congratulations! Now, it’s important that you really close it, and that means getting a signed contract. The closing phase of the path to sales success is one of the shortest, but is often the most important. I have heard from customers and sales reps that they had won an account or an opportunity a number of times, only to find out later that they have no intension to buy your solution. How does this happen, we have a verbal confirmation or an email. Yes but do you have a signed contract?

A signed contract moves an opportunity from closing to roll-out. I think it is best practice to get contracts in front of a customer even before you get a verbal confirmation of a selection. Another vital component is the roll-out schedule to determine the time frame of the purchase. Both the contract and implementation plan are excellent forms of a trial close. Here are some of the more popular reasons a verbal may not turn into a closed opportunity.

• The contact that gives you the verbal may not the ultimate decision maker.
• The customer then starts to negotiate the price and their budget is not the same as your desired cost.
• There is no intention to purchase in the near future.
• The quantity or scope of the purchase is significantly smaller than your proposal.
• Their legal counsel needs to see the document and may even offer their own contract. This may include terms that your organization may not want to live with.

Once you have a signed contract and implementation plan you will move to the Roll-Out Phase.

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