How To Close A Sales Effectively; The best Sales Closing Techniques And Why They Work
In sales, closing is a make-or-break situation. It’s critical to choose the perfect words to close a sale. And this will most likely be the deciding factor in whether or not your efforts will be worthwhile.
You aren’t the only salesperson who is worried about closing the deal. However, without that sense of danger, closing a transaction wouldn’t be nearly as exciting – which is what motivates salespeople to seek more.
Because salespeople are expected to achieve the highest possible win rates for their efforts, a variety of closing sales strategies have evolved over time.
Here are a few tried-and-true closing strategies, along with why they work.
- Now or Never Closes
- Summary Closes
- Sharp Angle Closes
- Question Closes
- Assumptive Closes
- Takeaway Closes
- Soft Closes
There are a variety of tactics you can use to close a transaction with a prospect. In this article we’ll categorize the stratetegies into two, namely;
- Traditional Sales Closing Techniques
- Modern Sales Closing Techniques
Closing Techniques in Traditional Sales
Traditional sales closing strategies typically use psychological tricks to give that final push. Two of the most prevalent are listed below.
1. It’s Now or Never
When salespeople make an offer that contains a specific benefit, the customer is more likely to buy right away. Consider the following scenario:
“At this price, this is the final one.”
“For clients who sign up today, we’re offering a 20% discount.”
“I can move you to the front of the implementation queue if you agree to buy now.”
This technique works because it creates a sense of urgency and can help overcome inertia when a prospect wants to buy — but for some reason isn’t pulling the trigger. It’s also a tried and true method for closing a sale over the phone because you have the person’s undivided attention in real-time. Of course, you should always establish value before offering a discount or promotion.
2. Summary Closes
To get the prospect to sign, salespeople that utilize this closing method repeat the goods the customer is hoping to buy (emphasizing the value and benefits). Consider the following scenario:
“As a result, we offer the Ductless Air Conditioning with a 10-year full warranty, and free delivery and installation.” When is the best time to deliver?”
You’re helping prospects picture what they’re getting out of the sale by condensing previously agreed-upon elements into one impressive package.
3. Sharp Angle Closes
Prospects frequently request price discounts or add-ons because they recognize that they have the upper hand – and that you expect it. If your sales manager has permitted you, use the acute angle close technique to catch these prospects off guard.
When they ask, “Could you add on a few extra hours of on-boarding at a discounted rate?” say, “Sure. But if I do that for you, will you sign the contract today?” They’re unlikely to expect this response, first since you agreed to their request, and second, because you’ve recommended closing today.
Modern Sales Closing Techniques
These pre-programmed closing techniques are perhaps a little out of date. Perhaps you find them a little too “salesy,” especially given the surge of inbound sales.
The term “close” should be used to refer to each and all incremental agreements reached during a sales process, not just at the point of final purchase.
Reps should strive to do the following during a sales call:
- Find out what the customer wants.
- Effectively describe how certain items or services meet those needs cost-effectively and satisfactorily.
If these two requirements are properly achieved, then there should be no barrier to closure. The closing question can be asked directly at that point.
A friendly reminder:
Make sure to keep note of anything you learn at this point in a free CRM. While the information may not appear immediately beneficial, keeping track of a prospect’s objections can help you improve your organization and close more deals in the long run.
4. Question Closes
Reps must ask probing inquiries to prospects in order to attain these two fundamental aims. As soon as a conversation with a prospect begins, effective salespeople focus on closing the deal. They generate desire in the client and remove all objections to purchasing through a sequence of queries.
One can even close the sale in the form of a question, which allows the rep to address outstanding objections while gaining a commitment at the same time.
For example “Does what I’m presenting, in your perspective, fix your problem?”.
The query allows you to find out if the prospect is interested in your goods while still leaving the door open for more sales. If they say no, it’s still their opinion (not necessarily the reality), so you can keep selling. If you answered yes, the following step is to sign on the dotted line.
“Is there any reason why we can’t proceed with the shipment?” said the last query.
This query seeks closure or additional information on why the customer isn’t convinced. It’s a win-win.
5. Assumptive Closes
The power of positive thinking is used in this closure approach. If you believe you will close this business from the first email outreach, it can have a huge impact on the rest of the sales process.
It’s critical to keep a careful eye on your prospect’s interest, involvement, and objections throughout the process. “Did this presentation fulfill your expectations?” ask after a call or meeting. If you’ve just given them fresh information about your product or service, you might want to ask, “Is this something you think your organization would benefit from? Is there a specific need or pain point that this addresses?”
By keeping your ear to the ground — and assuming good intent from the start — you’ll bring authority and direction to your sales process that wouldn’t be there otherwise.
6. Take Away Closes
If you have children, you’ve probably seen that taking a toy away from them makes them want it even more. On your prospects, use a similar psychological technique.
If they object to the price, eliminate a feature or service and provide them with a discounted offer. It’s more probable that they’ll remember the portion you took away rather than the lower price.
7. Soft Closes
The soft close is a technique for showing a prospect the value of your product and then asking a low-impact question to see if they’re interested in learning more.
“Would you be interested in learning more if I could cut widget maintenance by 25% and boost widget productivity by 15%?” for example.
You’ve explained the advantages clearly and concisely, without making any demands or unexpected requests.
If the preceding scenario is still too direct, you may ask, “Would it align with your company goals if I told you I could cut widget maintenance by 25% and boost widget productivity by 15%?”
This removes their need to commit to you in the slightest and gives you more time to learn about their business needs.
What to Do When a Sale Is Completed
It’s time to celebrate after you’ve completed the deal! But, before you give your team a high-five, make sure to tie up any loose ends. Here are a few pointers on what to do when the deal is closed.
- Make a note of the deal in your sales software — your salespeople will appreciate it. Keeping track of your deals will assist your team stay on track for forecasting and maintaining your pipeline current.
- Introduce the next team – Closing the purchase is likely only the first stage in the customer’s journey with your company. To get onboarded, individuals may need to speak with customer success or support. Set up an e-introduction to the next person taking over so that the customer has a smooth transition into the next step in the process.
- Follow up with the customer in a few days — Simply checking in to see how your new customer is feeling about their purchase will go a long way in building trust and customer loyalty. If issues do arise, you can quickly step in and help or find someone on your team who can.
CONCLUSION:
Being skilled at closing is arguably one of the most important techniques a salesperson can master. Apply these sales techniques skillfully on your next deal to close. Good luck!