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Mutual Close Plan Template
This Mutual Close Plan template is designed to significantly increase the chances of closing B2B deals by providing a structured and clear approach to the sales process.
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Taking a B2B deal from discovery to the closing stage can be a complex and challenging task, especially in 2024 when there is an increasing trend of economic uncertainty.
Sales teams frequently encounter lengthy decision-making processes, multiple stakeholders with differing priorities, and intense competition.
Recognizing these challenges, we took proactive steps to address them directly.
This Mutual Close Plan Template is specifically tailored to accelerate B2B sales processes. The primary goal of a Mutual Close Plan is to ensure a smooth path to the final signing and execution of the sales agreement.
What are the challenges this templates helps with?
- Lengthy decision-making processes
- Keeping multiple decision-makers engaged through longer period of time
- Aligning multiple stakeholders or departments
What is a Mutual Close Plan?
A Mutual Close Plan is a blueprint that lists all steps both the buyer and seller must complete to close the deal.
This blueprint lists the critical actions, timelines, and mutual responsibilities required to move a deal forward.
TIP: Mapping these actions and sharing them with all stakeholders early in the deal drastically increase client engagement and the probability of closing the deal.
About This Template
In modern B2B sales, proposal is just one part of the process. There are many activities that need to be completed and well-organized in order to close the deal.
This template maps all steps and activities before and after sending a proposal with the goal of accelerating deal closing.
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Win more deals by engaging buyers throughout the entire sales process, from initial opportunity to a finalized deal.
What is Included In This Template?
Closing Plan (Phases and activities)
- Discovery Call
- Solution Development
- Proof of Concept (PoC)
- Stakeholder Alignment
- Official Proposal
- Negotiation
- Closing & Contract Signing
- Handoff to Customer Success Team
- Discovery Form
- Feedback Form
Proposal Generation & Automation: Automated workflow for generating proposals based on data collected from the client.
Signing Contract: Contract signing functionality
Goals of a Mutual Close Plan
- Streamlining lengthy decision-making processes by setting clear timelines and expectations.
- Keeping multiple decision-makers engaged over extended periods by maintaining clear communication and regular updates.
- Aligning multiple stakeholders or departments by defining shared objectives and responsibilities.
- Last but not least, reducing the risk of losing deals by proactively managing each step of the process and resolving issues promptly.
Enhanced Closing Rates: Implementing a Mutual Close Plan can significantly enhance closing rates in B2B sales. Clear outlines of responsibilities and expectations within the plan reduce misunderstandings and accelerate the decision-making process.
Studies have shown that structured and collaborative approaches like this can increase the probability of closing a deal by up to 30%, making it a powerful tool in the arsenal of B2B sales strategies.
Mutual Close Plan Template
This blueprint will help you to structure a plan for closing a B2B deal.
- Discovery Call
- Solution Development
- Proof of Concept (PoC)
- Stakeholder Alignment
- Official Proposal
- Negotiation
- Closing & Contract Signing
- Handoff to Customer Success Team
Phase 1: Discovery Call
This initial phase involves gathering detailed information about the prospective client to ensure they are a good fit for your offerings.
Goals in this phase:
- Conducting initial meetings
- Performing needs assessments
- Reviewing client's current solutions and challenges.
What to ask on the discovery call?
- What software are you currently using?
- What challenges are you facing with this softwares?
- What are your goals for a new solution?
- Why are you considering a new solution now?
- Who is involved in the decision-making process for this purchase?
- What is your timeline for implementing a solution?
- What budget is set aside for this solution?
- Are there specific features you need in a solution?
- How do you measure success with your current solutions?
- What have you liked or disliked about solutions you've used previously?
Using a pre-built questionnaire form during a discovery call can greatly enhance the efficiency of information gathering. It ensures that all relevant details are systematically collected and nothing important is overlooked.
TIP: Asking about the budget allocated for resolving the current problem might feel awkward, but it's a crucial step.
Understanding the budget upfront helps both sides work towards a realistic solution. This discussion ensures that time isn't wasted on options that aren't financially feasible.
Phase 2: Solution Development
The Solution Development is a phase where the team creates a customized solution that specifically addresses the identified needs and pain points of the client.
This phase follows the discovery call and leverages the insights gained to tailor the product or service to the prospective client’s requirements.
- Customization: Tailor the product or service to fit the unique needs and challenges of the client, ensuring it delivers the maximum value.
- Alignment: Ensure that the solution aligns with the client’s strategic objectives and operational requirements.
- Demonstration of Value: Clearly articulate how the proposed solution can solve the client's problems and contribute to their success.
TIP: Maintain clear and open communication with the client throughout this phase. Ensure they understand how the proposed solution addresses their needs and be transparent about any limitations or considerations.
Phase 3: Proof of Concept (PoC)
A Proof of Concept is often a part of or a follow-up to the Solution Development phase. It is a practical demonstration that aims to verify that certain concepts or theories have the potential for real-world application.
A PoC is typically used to demonstrate to the client that the solution is viable and effective in addressing their specific problems before they commit to a full-scale implementation.
- Demonstration: Showing the functionality and effectiveness of the solution in a controlled environment.
- Validation: Providing tangible evidence that the solution works as intended in solving the client’s issues.
- Risk Mitigation: Minimizing the client's risk by allowing them to see the potential outcomes before a full deployment.
Phase 4: Stakeholder Alignment
Identify and engage all key stakeholders from the client's side to build consensus and support for the deal. Ensure that all decision-makers and influencers are on board and supportive of the proposed solution.
Phase 5: Official Proposal
In this phase team formalizes its solution into a comprehensive document that outlines:
- Value proposition
- Costs
- Implementation details
- Expected benefits
This phase serves as a bridge between the conceptual agreement on the solution and the formal negotiation and closing stages.
Goals:
- Clarity: Provide a clear and detailed description of the solution, including how it addresses the client’s specific needs and challenges.
- Persuasion: Convince the client of the value and benefits of the solution, highlighting how it outweighs the investment cost.
- Foundation for Negotiation Serve as a basis for discussions and negotiations, detailing terms that can be adjusted as per client feedback.
Use Templates: Using a standard template for proposals that can be customized for each client helps in maintaining consistency and reduces the time spent on each proposal.
Here you can find pre-built proposal templates
Read more about document automation.
Phase 6: Negotiation
The Negotiation phase is where the terms of the deal are finalized. This phase requires both strategic thinking and effective communication, as it involves discussions that aim to align the interests of both parties.
TIP: Prepare by understanding your bottom line and the client's budget constraints. Prioritize relationship-building over aggressive negotiation tactics to maintain goodwill.
Phase 7: Closing & Contract Signing
The Closing & Contract Signing phase is the culmination of the B2B sales process, where the deal is formally concluded with the execution of contractual documents.
This phase signifies the agreement between both parties on all terms and the beginning of a partnership. It requires attention to detail and effective communication to ensure a smooth transition to ongoing relationship management and delivery of services or products.
Phase 8: Handoff to Customer Success Team
In this phase the sales team formally transfers responsibility for the new client to the customer success team.
Read more about client onboarding.
This phase ensures that the client receives continued support and guidance as they begin to use the product or service.
Steps Post-Signing: Outline the initial steps that will follow the contract signing, such as kickoff meetings, project scheduling, and resource allocation.
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Win more deals by engaging buyers throughout the entire sales process, from initial opportunity to a finalized deal.
What is the Difference Between a Mutual Close Plan and a Mutual Action Plan?
The terms "Mutual Close Plan" and "Mutual Action Plan" often overlap in the context of sales strategies, but they can have different focuses depending on how they are implemented within a business's sales process.
A Mutual Close Plan is a focused subset of a broader Mutual Action Plan, concentrated on the final stages of the sales process, whereas a Mutual Action Plan covers a more comprehensive scope of the partnership and interaction from start to finish.
Both plans serve to align interests and responsibilities, but the Mutual Action Plan provides a broader framework for the entire buyer-seller relationship.
Read more about mutual action plan.
Key Takeaways
What Are the Goals of Using a Mutual Close Plan?
The goal of a Mutual Close Plan is to align the steps and timelines between the sales team and the client to successfully close a deal.
- Streamlining lengthy decision-making processes by setting clear timelines and expectations.
- Keeping multiple decision-makers engaged over extended periods by maintaining clear communication and regular updates.
- Aligning multiple stakeholders or departments by defining shared objectives and responsibilities.
- Last but not least, reducing the risk of losing deals by proactively managing each step of the process and resolving issues promptly.
How to Close B2B Faster and Efficient?
Using a Mutual Close Plan is highly effective due to the clarity it brings to the deal cycle. This plan outlines each step and responsibility clearly, helping all parties stay aligned and focused throughout the process.
- Streamline the discovery process
- Utilize a Mutual Close Plan
- Enhance communication with clear timelines
- Automate proposal generation
- Conduct efficient negotiations
- Simplify the decision-making process
- Leverage technology for faster follow-ups
- Focus on building strong relationships
- Prioritize client needs and customization
- Implement effective onboarding
Who is Using Mutual Close Plans?
A Mutual Close Plan can be beneficial for deals of any size, but it is particularly valuable for larger, more complex deals.
These deals often involve multiple stakeholders, longer sales cycles, and higher levels of risk and investment.
In such scenarios, the clarity and structured approach of a Mutual Close Plan help ensure all parties are aligned.
Roles that are using mutual close plan
- Sales Managers
- Account Executives
- Business Development Managers
- Sales Operations Managers
- Client Relationship Managers
- Project Managers
- Sales Directors
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