Accelerating Your Q4 Sales

It is 18 days into Q4. What is your business doing to drive sales for a strong finish?

Accelerating sales

I recently had a chance to connect with fellow B2B go-to-market leaders for small to medium-sized teams (0-15M ARR) on this exact topic. While the approach to achieving this goal can vary based on your specific industry, sales cycle, and target audience, several strategies and best practices can help you accelerate your Q4 sales. In particular, this blog is focused on B2B sales that typically takes more than one quarter to book.

External drivers:

Review Your Sales Process and get your T&Cs in front of the customer early!

One of the first steps to accelerating Q4 sales in B2B is to understand that there is a process to completing that sale, including making sure legal and IT are involved as early as possible. Some companies have successfully done a quick high-level walkthrough of their terms of conditions with key stakeholders. The customer’s willingness to engage in this exercise will speak volumes of their actual intent to purchase and get the deal done. In addition, if the customer is willing to put in their own legal resources to review your terms and conditions, this is another good sign. Many start-ups are afraid to bring this up, thinking it will delay the deal. However, this is a great signal regarding their seriousness and intent to close on a similar timeline, and it’s better to know earlier which deals to focus on as they engage with you.

Understand Budget Cycles

Successful B2B sales in Q4 require a keen understanding of your prospects' budget cycles. Do they have leftover funds at the end of the year that they need to allocate? If so, you can position your product or service as a valuable investment. Be prepared to demonstrate the return on investment (ROI) and how your solution can help them achieve their year-end goals.

Don't Delay Past December 1st

Q4 is not 90 days long, it is actually only 60 days long. While for sales Q4 is an important driver, for your customers they’re starting to check out as the holidays approach. If you’re not past the above-mentioned budget and legal cycles, recognize that decision-making WILL slow down as the holiday season approaches. Therefore, avoid expecting significant progress past December 1st. It's crucial to engage with decision-makers and finalize agreements well before this date to ensure successful deals in Q4.

Internal Drivers

Competition and SPIFs (Sales Performance Incentive Funds)

In larger sales teams, competition can be a powerful motivator. Consider implementing SPIFs to incentivize your salespeople to close deals in Q4. Offer bonuses, prizes, or recognition to top performers. These incentives can drive a sense of urgency and competition, spurring sales representatives to give their best efforts to close deals before year-end.

Here’s a sample list of fun SPIFs I’ve seen:

• Raffle for everyone who hits their annual or Q4 numbers by 12/1 for a vacation

• If you don’t have money for bigger prizes, make a big deal/presentation of each winner who does win a flashy but maybe not super expensive reward, the recognition is part of the motivation

• If you want to encourage team selling, set combined number goals for the whole team to get a nice dinner out. This will get top performers to push bottom performers to deliver bookings as well (with a minimum that one needs to hit to qualify)

• Have “raffle tickets” for targets you already measure and easily see on a dashboard, for example:

  • Smaller entries for activities:

    • Book X meetings a week

    • When you close $X in deals

    • When you reach a certain daily call activity (great for the SDR / BDR team)

    • Clean up pipeline by EOW

  • More entries for:

    • Reach monthly/quarterly target

  • Then have a bigger prize drawing at the end of the quarter

Q1 Fast Start Bucket

While driving Q4 closes is important, make sure to coordinate with your CFO to budget out a Q1 fast start bucket to maintain momentum in Q1 (only announce it in the new year). This strategy ensures that your sales team doesn't slack off after achieving their Q4 targets. Encourage them to continue working diligently by offering rewards for a strong Q1 start.

All-Hands-on-Deck Approach for Smaller Teams

Smaller sales teams may not have the luxury of internal competition and SPIFs. In this case, the key is to ensure that the entire company is focused on sales during Q4. Leverage the skills and expertise of all team members, not just the sales representatives. Marketing, customer support, and product teams can play a crucial role in generating leads and closing deals.

Accelerating Q4 sales in the B2B requires a strategic approach, both externally and internally. Start planning early, keep your team motivated, and ensure that the entire company is aligned with your sales goals for a rewarding Q4.

About:

Lusi is a partner of The Thirteens, a start-up consultancy of fractional executives covering multiple functions and industries, supercharging your start-up to the next level.