In this piece of content, you will find out how to close a deal with potential customers and convert them into loyal customers.
There's not just one way to close a sale; compressing the sales cycle can lead to explosive growth.
There's no magic trick to understand how to close sales. Your approach will shift based on the lead you're engaging with and what their requirements are.
But this curated list of used-and-approved methods assigns a template of what strategies to use and when.
Sales closing, or getting a lead to agree to a deal and sign a contract, is how representatives make their mark and how companies grow revenue.
It represents the closing of all your efforts. You put in the time and made a strong case for why your solution can relieve the prospect's pain points.
"Fundamentally, closing a deal should be the easiest part of a sales cycle." - Jay Camp.
Now that you have popped the question with a (sales) proposal, it's time to find out if this prospect is ready to commit.
Getting to that, yes, takes a lot of patience and persistence. Prospects will often say no before they get to a yes. The problem is, many salespeople give up before they reach that yes.
As we will explain further, sales closing isn't the only pipeline stage that matters, but it is conclusive. You either close or you don't.
The make-or-break nature of sales closing can make it one of the most stressful aspects of selling, but it doesn't have to be.
Before closing a sale, you should know how much prospects want to resolve the situation that makes them uncomfortable. If they have already presented their problem to you, the next step is to know if the lead is ready to resolve it.
It is not a question of whether this potential customer is ready to buy what you offer, but if they want to get out of this situation, they do not like it.
By bringing the prospect into this situation, you will immediately know if this potential client is ready to use your product/service to improve their daily life.
A client can sense if you are being genuine during the sales process. In other words, it's essential to convey to the client that you care about their business and not just the deal.
Coming off too calculated can turn people off; however, remember that nothing is wrong with being prepared.
It's okay to appear like you're ready for every question that comes your way; just don't act like you don't care about the customer's best interests.
One of the ways in the list of how to close sales is to just ask for it.
If you feel the prospect's questions are answered, and they understand the solutions you provide, you should ask for the sale.
You want to have a powerful statement and reiterate what resolution you are offering them.
It's crucial to sound knowledgeable and confident, ensuring you don't veer into arrogance.
Preparing the sales presentation to address and overcome potential objections can speed up any deal. If something catches you off-guard, you might need to take some time to think up a solution.
I highly recommend sitting down with your entire sales team and having each person come up with complaints they might foresee.
Please give them your sales pitch and see any complaints you and your group may have missed.
Don't put your foot in your mouth. Please keep it to the pinpoint and focus on your areas of expertise.
You want to be honest and personable, but you have to remain professional.
The Assumptive Close is based on the concept that you firmly believe you will make this sale from the moment you put effort into it.
The language you use throughout would indicate that you think the sale is a "done deal." The key is frequently checking on your prospect, measuring their level of interest, objections, and identifying if they're on the same page as you.
Why this works: Your confidence and positive thinking is contagious and makes the prospect think the answer should be as evident to them as it is to you.
When it works best: You're working with familiar leads and know the product is a perfect fit.
When not to use it: When you have no relationship with your prospect and hear repeated feedback that the solution doesn't make sense for them.
Offer your prospect something they can only get if they commit within a certain period (including today).
For Example - Anyone who commits today gets a 15% discount.
If you sign up today, you can prioritize the implementation queue.
Scale Close is also referred to as the gauge close. You take the prospect's temperature by simply asking them point-blank how interested they are in your product.
(Ex: "On a scale of one to 10, with one being 'Let's end this conversation now and ten beings 'Let's get this solution implemented on Monday,' how likely are you to move forward with purchasing?")
The scale close does two things: It lets you know if you've been effectively communicating your product's value and allows you to address any objections, they might not have shared with you.
This concept is simple: if you've already laid the benefits on them, and they don't seem interested in certain aspects, take them off the table. Offer cost savings by removing features they might not need, and see if they're more inclined to accept the offer.
This approach capitalizes on people's craving for things they can't have, also known as reverse psychology.
Note that your solution "might not be a good fit" for them or that their company "may not qualify for your solution like other companies have."
The takeaway close is effective because you're doing the opposite of what a salesperson typically does, which is sold, so the prospect doesn't expect it.
This tactic only works if the lead has already established interest in your product but hasn't pulled the trigger on buying.
Why this works: Many people object simply because of price. Everybody wins if you can counter that objection by removing things they don't need.
When it works best: When your platform is multi-tiered, the prospect has made it clear that they have no use for certain features.
When not to use it: When the prospect doesn't seem to be objecting to price.
It is also known as the "Nothing to Lose Close," this tactic involves you letting your potential customer become very aware of the fact that you are selling to them.
You ask for firm commitments when you can sign contracts and set up implementation and anything else that gets them to sign now.
Why this works: Making what you want clear helps the person feel a little more at ease, and though they may not say yes, at least they will give you a firm answer, so you no longer have to spend time following up.
When it works best: You know you won't be getting the yes, and have no other options.
When not to use it: You are still in the early stages of following up with your leads.
So, you read this piece of content and have become an instant sale master.
What's next? How do you turn all this knowledge you've learned about the types of sales close into actual sales?
Go back to some cold leads and heat them with these sales closing strategies! The best way is to put these effective sales closing techniques into practice by trying them out.
