Recently, a partner contacted us to request a new feature in Membrain. He outlined a common problem on many sales teams - too many close dates being moved over and over again without progress and no good way to track or manage these changes.
When deals are not won on time, it can create massive problems for companies beyond just missed revenue creation. To deliver on forecasted revenue, companies may have ordered parts to produce products for the expected orders or staffed up to meet service demands. For public companies, deal slippage can impact share prices. That said, having accurate closing dates is just as critical as having the size of the forecast to be correct.
Most of us in the sales profession can identify times when we’ve moved the close date forward on an opportunity. Sometimes it indicates a problem with the deal, and sometimes it doesn’t. Three common reasons for pushed close dates are:
The partner who contacted me about close dates being moved forward wanted to know if we could help by adding a feature to Membrain that would make it easy to see which deals have been moved forward repeatedly.
The length of the sales cycle is the time it takes for buyers to make a decision.
So we got to work and recently rolled out updates that do exactly that. Now, Membrain users can easily see which opportunities have had the close date moved forward and how many times that has happened. That data can then be analyzed for other trends. You can also send notifications to managers when a deal’s close date is moved forward too often. Teams can also dynamically add steps and enablement content to their sales process to coach salespeople on what to do when this situation occurs. We also updated our out-of-the-box win/loss analysis with this information to help sales teams better understand what impact close date movements have on their effectiveness.
These features make it easy for you to address any problems that may be causing deals to close later or not at all. For instance, you may:
At Membrain, we are proud of having built our product to truly facilitate sellers and their leaders to be more effective. We stay flexible and continually build new features based on what our partners and clients ask for. This new feature is only one of many updates, with many more to come.
We’d love to show you how our product is helping sales teams do better and be better every day. Get in touch and let’s chat. Or spin up a free version of Membrain today.
George is the founder & CEO of Membrain, the Sales Enablement CRM that makes it easy to execute your sales strategy. A life-long entrepreneur with 20 years of experience in the software space and a passion for sales and marketing. With the life motto "Don't settle for mainstream", he is always looking for new ways to achieve improved business results using innovative software, skills, and processes. George is also the author of the book Stop Killing Deals and the host of the Stop Killing Deals webinar and podcast series.
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