Closed Won

Congratulations this is where we want to always get to – winning a deal.

Your task now of course is to firstly onboard the customer and secondly ensure their long-term success.

Onboarding whether it’s very simple or lengthy is critical for the customer. Typically they want to drive value as soon as possible so for others done by you or by another team you need to make sure that that handover is as smooth as possible and that the customer experience continues to be a favorable experience.

Customer success is the long-term success the customer derives from using your product is very important. In SaaS we typically talk about adoption – is the customer using the product?  This is important  for two main reasons:

  • Firstly it means that the customers derive benefits from the product and so they are likely to recommend the product to others as well;
  • Secondly it sets them up for us to sell future capabilities such as more users for an existing product or upsell to another version or cross-sell to another product in the future.

It is often said that this year’s new business is next year’s addon. This is the core of the SaaS model and so onboarding and customer Sass success piece is important and is at the heart of developing the business to a sustainable and predictable revenue flow.

Don’t forget to ask for a reference. Once the customer has been implemented it is good to check in with them and asked them if they would be willing to be a reference account or take an occasional call from another prospect or even do a case study. This is the right time to do this because they feel the value and are likely to be in a good place to consider your request. Sometimes they may consider it too early to agree to it so don’t push it and come back again in a few months and ask again.

It’s a good idea to do a win review. It’s common that companies will do loss reviews i.e. if they lose business but it is also important to consider why you win business. While still fresh in your mind it’s a good idea to go back over the deal and write down key moments or key aspects that helped you win that piece of business. If others were involved in the deal involved them too in this analysis. It doesn’t have to be complicated – a short discussion over a cup of coffee can often suffice. Write it down that will help consolidate why you win business.

This will give you confidence because you will learn the important levers where you think you won the business. These are likely to be the leavers you can use with other prospects and secondly it gives you a platform to consider how can you do better.

Usually, velocity-related issues are the most pertinent to what can you better do next time to close a deal like this faster. Review how long it took to close the deal and review each stage to see how you might improve the speed next time.

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