Closing a sale is the end goal for every sales professional, but it can be an intimidating task. In fact, 40% of salespeople struggle with closing deals due to the emotional pressure of fear and rejection. However, successfully closing a sale can bring a great sense of accomplishment. To help you achieve this success consistently, we will discuss effective techniques for closing a sale. Let's dive in!
The first step in closing a sale is understanding your customer's needs and how your product or service can meet them. It's crucial to identify your target audience and their pain points, as this will help you focus on specific prospects and businesses. Our sales closing guide provides three tactics to assist you with this, including an ROI calculator and sales question templates.
A successful sale begins before the customer signs the deal. To effectively close a sale, you must have an ideal customer profile (ICP) and identify the decision-maker. This criteria will help you filter out leads and initiate meaningful conversations. Once you have verified an email address, send a brief cold email with a clear call-to-action that focuses on the benefits of your product rather than its features. Creating a sense of urgency by offering a time-sensitive discount or free onboarding can also be helpful.
Be prepared to address any objections that may arise during the sales process.
By incorporating these techniques into your sales process and understanding your customers' needs, you can confidently and effectively close sales. Remember to always stay focused on meeting your customer's needs and providing value, and the sales will follow. Happy closing!
In the world of sales, it's important to stay positive, address objections, and create a sense of urgency in order to increase win rates. One effective technique for achieving this is the use of take away closes, which can tap into psychological tendencies similar to those seen in children.
Think of a child. If you give them a toy and then take it away, they will likely cry and protest until they get the toy back. This same approach can be used on prospects in sales by removing a feature or service from a proposed offer and presenting a discounted price. For example, "Our product will fit perfectly into your budget, but we can only include either feature 1 or service 1 at the initial price. Which one do you prefer?" This tactic often prompts prospects to focus more on what was taken away rather than the discounted price or their proposed offer.
The soft close is a subtle technique that allows you to showcase the benefits of your product to prospects without making any demands or sudden requests. Instead, it involves asking low-impact questions to gauge their interest in learning more. For instance, "If I could reduce widget maintenance by 25% and increase widget productivity by 15%, would you be interested in learning more?" This allows you to highlight the benefits without putting pressure on the prospect.
If the above example still feels too direct, you can instead ask, "If I told you I could reduce widget maintenance by 25% and increase widget productivity by 15%, would that align with your company goals?" This approach removes the pressure for the prospect to commit and allows you to gather more information about their business needs.
The alternative close involves offering prospects multiple buying options, giving them a sense of control over the deal. As a salesperson, you can subtly guide them towards the more expensive package you want them to choose. For example, "Would you prefer our Pro plan with free onboarding and six months of support, or our Basic plan starting at $30 per month with fewer features and no free support?" This technique can be effective when a prospect is pushing back on price or requesting specific features.
Another effective technique for incentivizing prospects to sign a deal is the "something for nothing" close. This can be especially useful for companies without much social proof or for enticing prospects to switch from a competitor's product. For example, "We understand that migrating your data from [software name] to ours may cost upwards of $1,500. However, if you sign today, we will waive the migration fee. Would you be interested in taking advantage of this offer?"
If you are dealing with a prospect with a large deal size who is experiencing cold feet, consider offering them a unique and exclusive deal. This can give them the incentive they need to seal the deal. For instance, "If I could offer you a special discount, free trial, or free migration, would you be willing to sign a contract today?" This win-win approach allows the prospect to feel special while also securing the deal for your company.
The opportunity cost close is a powerful technique for making prospects reconsider their hesitation to make a deal. By highlighting the potential loss they may face without your solution, you can motivate them to take action. For example, "If you don't take advantage of our product, you could potentially lose out on significant cost savings and increased productivity. Is that a risk you are willing to take?"
Sometimes known as the "puppy dog close," the test drive technique allows prospects to try your product for free before making a purchase. This eliminates the risk for the prospect and can increase the chances of them saying yes. For example, "Would you like to try our product for 30 days at no cost? If you like it, you can purchase one of our plans. If not, you are under no obligation to buy. What do you think?"
Finally, if you are unsure why a prospect is hesitant to make a deal, try using the objection close. Ask if there are any specific reasons holding them back from signing today. This can help you address any concerns they may have and guide them towards a successful sale.
Addressing objections and building trust are vital in moving a deal forward. One effective way to achieve this is by incorporating videos into your sales strategy. Video allows for a more personal and interactive experience, showcasing your product and efforts to prospects.
Closing a sale may seem like a daunting task, but with the right techniques, it can become a seamless process. One tried and tested method is utilizing videos to address objections, explain pricing, or highlight product features. By tracking when prospects view the video, you can follow up in real-time and address any further concerns, creating a sense of urgency and personalization.
The "Columbo Close," inspired by the famous one-liner from an American TV series, is a powerful technique for re-pitching your product to disinterested prospects. Another effective method is the "Ownership Close," where you speak to the prospect as if they have already purchased the product, backed by real results and case studies. In some cases, the unconventional "Offering Competitor Close" can be used, where you openly discuss competitors and their pricing, showcasing honesty and confidence in your product.
Remember, being a skilled salesperson is more than just hitting quotas; it's about building genuine connections with prospects. So, while using these techniques, always maintain a friendly, empathetic, and genuine approach. Seeking guidance from a mentor or successful salesperson can also help you hone these techniques and learn from their best practices.
Closing a sale may seem like a daunting task, but it's crucial to remember that at the core of sales, we are dealing with people. Prioritizing the human connection and treating prospects with respect can make all the difference. So, while incorporating proven closing techniques, always remember to remain authentic and prioritize building strong relationships with prospects. Who knows, with the right approach, you may become a master at closing sales in no time.
