Strategic Closing Techniques and Why they Work
In sales, closing is the make or break moment. The right phrases matter if you are to seal a deal. It will, after all, serve as thefinal verdict where a potential customer will decide whether to proceed or not.
It’s quite normal for salespeople to feel the claws of apprehension about closing. However, it is that particular risk too that makes the whole thing thrilling, exciting even. For most salespeople, it is that feeling that serves as their drive to put in more effort to perform better.
Over the years that I have been a business coach, sales techniques have been developed from the efforts of sales professionals towards successfully clinching a deal. Below are some of the most strategic and effective closing techniques that you may want to employ.
Now or Never Technique
Traditional technique salespeople use, this is where an offer along with a special benefit is extended positioned to make it even more attractive for the prospect to respond positively. One of the reasons why this technique is quite effective is the sense of urgency that it creates.
If you are to close a sale as soon as you can, you need the right amount of force to overcome the hesitation that a customer will usually have when making a decision. Many times, customers are already convinced that you are offering something good but just need a little bit of a nudge to finally make the call. Adding a promotion or an additional discount to your final offer can usually do the trick.
This is where you enumerate and stress to the customer all the benefits that he is getting for accepting the offer. When enumerating the offer, you also stress the value that he is getting to make it even more attractive for him to give you the green light. Summarizing the offer and the many benefits attached to it will make the whole offer sound quite impressive to the customer. Through enumerating what they are getting, you make it easier for them to visualise all the good things they can expect from the deal.
Sharp Angle Technique
Another traditional closing strategy that uses some psychology to prod a prospect to finally signing a contract, a sharp angle close is also another effective technique for clinching a deal. It is common for prospects to ask for add-ons, discounts, and other ways that a price can be reduced. They know too that you expect them to raise these demands too. It is how you respond to these demands that could make or break the sale.
If you have a prospect asking for discounts, you’ll want to accommodate that request in a way that they will be caught off-guard so you can close the deal. The key is to grant the customer’s request, but make it a condition for them to sign the contract first or the deal is off. Catching them by surprise by actually agreeing to a seemingly over the top request from them will help you clinch that deal.
A modern sales technique, it is more focused on determining what customers need and offering the most ideal solution to these needs. A representative using this technique will have to ask probing questions. It is through these questions that they will have a better grasp of what the customer needs while also developing a want and a need in the client so by the time the conversation is over, they’d have no objections to the purchase.
Some salespeople even close their offer with a question to ensure that all objections are eliminated while also securing the customer’s commitment in the process. Asking the question helps you discover whether you have a customer that is really sold to the product so you can continue to sell and convince them how good the offer is if it turned out that they still have some outstanding objections left.
This is similar to dealing with kids where if you take something away from them, the more they will want it. A technique that uses psychology to win a customer over, when used right, it can easily help you clinch a deal.
It is quite common for prospects to balk on price. If your customer wants a discount, give them a discounted price. However, in return, you take away something from the offer in exchange for lowering the price. Taking away a service or a feature in exchange for a lower offer can end up in the customer thinking about the part that was removed instead of actually delighting in the discount you are offering. Hence, allowing you to close a deal without having to resort to making the lowest offer just to convince your prospect.
A technique that I always recommend to my clients as a business consultant, this banks on positive thinking. Having the belief that you will clinch the deal can make a lot of difference to the sales process. For this technique to work, there is a need for you to monitor your prospect’s engagement, interest, and even his objections. Asking questions after a meeting, a call or a presentation helps you find out if you are on the right track as far as convincing them to sign the deal.
Assuming good intent while making sure that you keep a close eye on your prospect allows you to bring an effective direction and authority to the sales process. This makes it easier for you to make the prospect see that you have the right solutions to his needs, thereby making it easier to convince him to sign the deal.
Employing the right closing techniques is crucial if you are to make a successful sale. Find an expert business consultant or experienced sales experts to mentor you and your sales team about these techniques. You’ll be surprised at how much of a difference this can make to your overall conversion rate.