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With a pipeline full of leads, sales reps should be able to close the deal, growing revenue for the company and helping customers at the same time.
But it's not always that easy. If you're using outdated techniques and strategies, it can make it harder to move prospects through the sales cycle.
In this guide, we'll walk you through proven closing strategies and techniques that can help you close more deals and sign more clients.
We'll cover:
1. What Does It Mean to Close a Sales?
2. The Most Common Sales Closing Techniques
3. Best Sales Closing Techniques and Strategies
Ready to dive in? Let's go.
What Does It Mean to Close a Sale?
Closing a sale is the final step in the sales process, where a prospect or potential client makes a decision to purchase a service or product being offered. This typically involves transitioning from the sales pitch to negotiating and agreeing on terms with the potential buyer.
Being able to close out sales is crucial for meeting sales targets and achieving business goals. It directly impacts the overall success of the sales team and the company as a whole.
Completing a sale also signifies the completion of a successful interaction with a potential customer, which can lead to repeat business and positive referrals.
What Are the Most Common Sales Closing Techniques?
It's true that there's no one way to close a sale.
Your sales representatives will shift their strategy based on the sales prospect, who they are engaging with, and what the client's needs are.
The list below includes details of tried and true methods that have closed deals.
1. Assumptive Sales Close
The assumptive sales close is a sales technique that requires confidence in yourself and your brand.
This technique assumes that the client will make a purchase, which can influence their decision-making process. By maintaining a positive attitude and projecting confidence, the salesperson can inspire the prospect to make a buying decision.
The key to the assumptive close is the seamless transition between discussing the benefits of the product and the close. After presenting the benefits of a product or service, the salesperson uses closing questions, such as "When would you like delivery?" or "Would you prefer the gold or silver option?”, to close the deal.
The salesperson's positive attitude and confidence play a crucial role in convincing the prospect to make a purchase. A confident and assertive approach can instill trust and encourage the prospect to move forward with the transaction.
2. Scale Close
The scale close technique is used in sales conversations to gauge customer interest and address any remaining objections.
To effectively use the scale close, start by presenting the customer with two options — one that aligns with their needs and desires, and another that meets those requirements but also offers additional benefits at a higher price point.
Ask the customer to rate their interest on a scale of 1 to 10 for each option, allowing them to express any remaining objections or concerns.
The pros of using the scale close include gaining valuable insights into the customer's preferences and objections, which can help tailor the sales pitch and address any lingering doubts.
However, the cons include the potential for the customer to feel pressured or manipulated if not used sincerely or respectfully.
When using the scale close, it's important to carefully navigate the conversation, ensuring that the customer feels heard and valued. This approach can help build trust and rapport, leading to increased sales and customer satisfaction.
However, there is a risk that the customer may feel pressured or that their preferences are not being fully respected.
3. Puppy Dog Close
The Puppy Dog Close is a sales technique that involves allowing potential customers to test drive the product so they can recognize its value before making a purchase.
To implement the Puppy Dog Close, start by offering prospects the opportunity to try out the product, whether it's a physical item or a service. This gives them a chance to experience its benefits firsthand and recognize its value.
The principle behind the technique is similar to buying a puppy at a pet store. When a customer plays with a puppy and gets attached to it during the visit, they are more likely to bring it home, having experienced its companionship and affection.
This technique can be used in various industries, such as offering a free trial of a software product or a sample of a skincare product, to generate leads and close sales. It is effective because it allows customers to see the product's value, leading to a greater likelihood of making a purchase.
4. Scarcity Close
The scarcity close is also referred to as the now-or-never close because it creates a sense of urgency and FOMO (fear of missing out) to motivate prospects to make a purchase.
When using this tactic, it's important to convey limited time or availability in an authentic manner. Exaggerating scarcity can damage the relationship with prospects, so be transparent and truthful about the limited availability of the product or service.
You can also sweeten the deal with discounts or added benefits to further encourage prospects to take immediate action. This could include a limited-time discount if they purchase now or throwing in a bonus product or service, adding more value to the product.
Ultimately, the scarcity close is about creating a genuine sense of urgency and FOMO while maintaining authenticity in your communication. When done correctly, it can effectively push prospects to make a purchase decision more quickly.
5. Takeaway Close
This sales closing technique utilizes reverse psychology to persuade a customer to make a purchase by taking away the service or product that they want. It plays on the human desire for what is perceived as scarce or exclusive.
To implement the takeaway close, a salesperson might highlight the limited availability of a product or the time-sensitive nature of a deal.
For example, they might say, "I would love to offer you this special deal, but unfortunately, it's only available for a limited time."
One of the advantages of using this technique is that it can create a sense of urgency and FOMO (fear of missing out) in the customer, driving them to make a purchase more quickly.
However, a potential con is that it could also come across as manipulative or inauthentic if not used carefully. It's important to strike a balance and use this technique sparingly and honestly to ensure it doesn't have the opposite effect on the customer.
Best Sales Closing Techniques and Strategies
Closing a sale can often be the most crucial moment in the sales process. It's where the prospect makes the final decision to purchase, and it can make or break the deal.
In order to effectively close a sale, it's important to have a variety of techniques and strategies in your sales arsenal.
Here are some of the best sales closing techniques and strategies to help you seal the deal with potential customers.
Know Your Target Audience
When you’re selling a product or service, it shouldn’t feel like you are selling.
Instead, it should feel like you are helping the customer solve a problem, because that’s ultimately what you’re doing.
Putting your customer first and knowing their problems and what it is they are trying to solve helps ensure you are offering the right product and service.
Use a discovery call and your own research to formulate a bundle that will help solve the problem they want to fix.
Be sure to ask what their pain points are, how the solution will address them, and whether they are an ideal fit for their needs and desires. This approach can help build trust and a relationship, which is what selling is all about.
Recognize Their Pain Points
As you’re working on moving the prospect through the sales process, they’ll likely have objections about why it isn’t the right time for them to buy.
One of the most common reasons that a prospect will back out of a sale is because of pricing. You’ll have to show them the competitive advantage and benefits that your tool offers that will offset costs.
Be ready to provide answers to whatever pushback they may have on your product or service and ready to discuss alternative options that are available to them as well.
This makes you look knowledgeable about the service that you offer and that you are doing what it takes to help the prospect find a solution to their needs.
Find Out Who Makes the Decisions
In lead qualification, it's important to determine who makes the decisions within a potential customer's organization. This involves understanding the hierarchy and identifying the key decision-maker.
After all, you will want to ensure that you are talking to the right person, as so much of the sales closing process requires getting the correct people in the room who have the power to call the shots.
Early into the sales process, you will want to start by researching the ideal customer profile (ICP), including details on the company’s industry, size, location, and revenue. Use this information to narrow down potential decision-makers within the organization.
When communicating with prospects, make sure to ask specific questions to determine if you are speaking with the decision-maker. This may include inquiring about their role in the purchasing process and their authority to make buying decisions.
Recognize When to Give Up
Recognizing when to walk away from a sales pitch is crucial for maximizing your time and energy. It's important to evaluate the potential success of a pitch early on to avoid wasting valuable resources.
Look for signs that indicate a prospect may not be interested or ready to make a purchase. This could include repeated objections, lack of engagement, or failure to follow up on proposed next steps.
Qualifying leads is an essential part of the sales process. It's important to understand when it's time to move on to more promising opportunities.
By recognizing when to give up on a particular prospect, you can redirect your efforts toward more qualified leads and increase your chances of closing a successful deal.
Remember, You're Part of a Team
Being a part of a team is crucial in the sales process, as collaborating with fellow reps and sales managers can lead to more successful deals.
Finding ways to communicate can be beneficial for knowledge and sharing support. It allows everyone involved in the deal to stay informed and aligned. This kind of collaboration can lead to a better understanding of the customer's needs and challenges, resulting in more successful sales.
Remember, selling is a team sport. Seeking help and working together with your team can lead to more successful deals. Don't be afraid to ask for support or offer your help to others. It's a win-win situation for everyone involved.
Effective Communication and Building Relationships
In addition to identifying the decision maker and recognizing when it's time to move on, effective communication and relationship building is essential for closing sales.
One way to achieve this is by actively listening to their needs and concerns. By demonstrating genuine interest in their challenges and goals, you can position yourself as a trusted advisor and build a strong relationship with the prospect.
Another important aspect of effective communication is clear and concise messaging.
Avoid using jargon or complicated language that may confuse or alienate the prospect. Instead, focus on communicating the value and benefits of your product or service in a way that resonates with their specific needs.
Building relationships takes time and effort. Regular follow-ups, personalized interactions, and providing ongoing support are all important elements in building lasting relationships with potential customers.
Wrapping Up
Finding effective techniques and strategies that work for your business is essential as it will ensure you close more deals and sign more clients.
We’d recommend testing one or two of these strategies and see which is most natural to help you close the deal with prospective clients. All of these strategies have proven reliable and can help you grow your pipeline.
The best closing sales techniques will depend on your unique offering and skillset. Ultimately, the strategy that results in the most conversions will be your best option.
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