One of the biggest mistakes surrounding sales is the fixation on deal size. Rarely will a big six or seven figure deal just fall in your lap. Big deals are usually the result of months or even years of work and a culmination of many smaller deals.
Instead of being fixated on deal size, look at the lifetime value of the account. Every deal you close and every project or product you deliver helps to move a client relationship forward and set up bigger deals in the future.
Aside from the value these small wins can deliver your company over the long term, here are four reasons why your sales team should have a culture of celebrating small wins.
Small Wins Add Up
Achieving many small wins builds relationships with more clients. This leads to additional opportunities in the future to sell additional products or services. It gives your team more chances to build rapport and focus on upselling to a larger pool of clients rather than relying on only closing new deals with a few.
Small Wins Build Momentum
It can be challenging to keep sales teams grinding away day in and day out. Closing small deals takes less time and helps to build momentum. It keeps salespeople going while they wait for bigger deals to close.
Small Wins Increase Confidence
Confidence is critical in sales. A lack of confidence by your salespeople becomes very apparent to potential clients. Closing deals on a regular basis does wonders for a salesperson’s confidence. This in turn makes them better at selling and motivates them to really go after deals.
Small Wins Improve Learning
Improving at sales requires practice. Every deal that a salesperson wins, they also win valuable experience that helps them learn and sharpen their performance. These lessons add up quickly and can mean the difference between struggling to hit quota and crushing it.
When working with sales teams, a powerful incentive exists for creating a culture of winning accounts instead of individual deals. Too often leadership forgets that sales growth is a journey. Even when deals are small or don’t seem worthwhile, the right case for long-term value down the road is a small win that can lead to a big victory.