**Dear SaaStr: How Do You Handle It When a Prospect Puts a Deal “On Hold”?**
When a deal is marked as “temporarily on hold” in your CRM, it’s essential to treat it as an active opportunity rather than a lost one. The key is to remain engaged without being overly forceful.
Here’s how I’d work to revive and advance those deals:
1. **Reassess the Reason for the Hold. It’s More Than Just a Deal for the Prospect.**
Determine why the deal is on hold. Whether it’s due to budget constraints, internal decision-making delays, or a shift in priorities, understanding the root cause will guide your strategy. Simply ask your contact at the company directly.
2. **Add Value Without Selling. Too Many Don’t Do This.**
Maintain the relationship by sharing relevant updates or insights, such as:
– Inviting them to webinars or events related to their interests or challenges.
– Sharing a case study or success story from a similar customer.
– Informing them about new features or product updates that could solve their problems.
3. **Stay Top of Mind with Light Touchpoints — That Add Value**
Enroll them in a casual drip campaign that includes:
– Monthly emails with industry insights or product updates.
– Sending branded items like a T-shirt or socks to keep your company in their mind.
4. **Leverage Your CEO And Other Leadership**
Offer a call with your CEO or a senior leader. Prospects often appreciate hearing directly from top executives, which can renew interest in the deal.
5. **Monitor for Trigger Events**
Watch for changes within the prospect’s organization:
– Reaching out if a key decision-maker leaves or a new person takes over.
– Re-engaging if their competitor makes a move.
6. **Be Patient but Persistent**
Deals on hold may have longer sales cycles. Check in periodically with thoughtful updates, but avoid excessive follow-ups. Find genuine reasons to reach out.
7. **Invite Them to Your Customer Conference and Any Other Dinners, Events, etc.**
Invite them to user or customer events. These occasions can revive deals, and your current customers might also advocate for your solution.
8. **Don’t Break Up. Enough With the Break-Ups. And No False Urgency.**
Avoid telling them you’re “closing their file” or “moving on.” Instead, let them know you’re available whenever they’re ready to proceed.
9. **Put Yourself In Their Shoes**
After identifying the reasons for the delay, empathize with the prospect and take actions that genuinely benefit them.
Few in sales consider the customer’s perspective, but doing so can lead to significant results. The goal is to remain relevant and valuable without being intrusive. Deals on hold are often just postponed, not lost. Be patient, and you’ll likely win more deals back than anticipated.