You find yourself negotiation a deal with a potential client, and the final step in the process is to close the contract. How do you make sure you don’t miss the outcome? Various strategies will help you improve your sales skills.
Closing a deal is a turning point when it comes to sales. Picking the right words before signing a contract is the moment that can be crucial whether your efforts were beneficial or not.
Even experienced salespeople sometimes find closing deals intimidating. A successfully completed sale would not bring as much excitement without a sense of risk while doing it. That is the driving force that pushes sellers to perform better and strive for more successful deals in the future. Since salespeople are supposed to produce the best possible outcomes with their efforts, a broad range of closing strategies has evolved over time. Frequently, psychological tricks are employed to persuade a customer to take the deal during the presentation’s closing.
When closing a deal, every agreement met during the process, and not just the final purchase, should be registered. Click here https://www.thebalancecareers.com/what-is-closing-2917370 to learn more. When dealing with a buyer, sellers can try to figure out what he wants and then effectively communicate how particular goods or services will meet such needs at an affordable and reasonable price. Meeting these conditions will most likely result in closing the intended deal.
Some traditional techniques that help in closing deals
Now or Never technique – this technique belongs to the category of conventional methods used when closing deals. In most cases, psychological tricks, such as the power of persuasion, are used in such strategies to entice a prospective customer to accept a deal. With the “Now or never” technique, the customer is given the advantage of closing the deal by being strongly encouraged to buy the product.
Phrases such as “One product left at this price,”; “30% discount to customers who will make a purchase today,”; “Buying the product today comes with free installation,” and so on.
An approach like this works most of the time as it creates a sense of urgency for the customer, which helps them overcome any passivity or indecisiveness when thinking about buying the product.
Resume technique – this is a tried and proved method to close sales. To complete the deal, the seller lists the items he is going to sell, stressing their merits and benefits, such as free shipping or free installation. If it’s such a product, they may also ask about the best time for the product to be delivered to the potential customer’s home.
By summarizing the agreed terms, the customer visualizes how they will benefit from the offer and is more likely to make a purchase.
Sharp angle technique – Potential customers who believe they are in control of the situation often claim a discount or free extra features. However, if your sales manager gives you permission, you can catch them off guard by using the Sharp Angle sales closing strategy. What this means is that if a customer asks you a question like “Can I get extra hours of training at a smaller price?” your answer can be, “Of course, but if I provide you with those extra hours will you sign the deal then?”
Your response would most likely surprise them, as they probably didn’t expect you to agree to the discount and then propose to close the deal that same day.
Probing questions technique – Test the waters by using probing questions in order to accomplish the key objectives. While only beginning a discussion with a prospective buyer, successful sellers concentrate on closing the deal. These questions increase the customer’s interest and willingness to buy the product and eliminate certain objections that they may have.
It’s also possible to close the deal with a question that helps you hammer out main objections while still piquing the client’s interest. A question such as “Do you think that your problem might be solved using my proposal?” might have that effect. This question can help you determine whether the customer is ready to accept the deal or refuse it. In case the buyer says no, it’s only just his view, and it doesn’t mean that the product you offer is bad. If such a scenario occurs, continue to promote the product’s advantages.
Hypothetical closure – This is also one of the traditional techniques for closing sales which highlights the benefits of positive thinking. If your stance right after sending the first email is that you can close the deal, you feel more confident during the whole process.
Keep a close eye on the prospect’s level of interest, commitment, and objections. After you finish the meeting, you can ask them whether your presentation met their expectations or if something was puzzling, and if they think that the product you offer will benefit their company and fix a problem they might have. Anticipating a favorable outcome from the start will give you a distinct advantage during the negotiation process.
These are just some of the methods used during a sales process, but not the only ones.
Mistakes to avoid when closing sales
The whole sales process is lengthy, so there is no need to rush to get the final “yes” from the client.
When talking to a client, make sure to ask direct questions and not just state facts. Leave a room for them to grasp the whole concept of the presentation and ask their own questions.
Don’t insist on the purchase if the prospect refuses your offer. In times like that, you might feel like you failed to do your job properly, but a rejected offer doesn’t signify failure. That’s why it’s best to accept the customer’s decision and move on calmly.
Lack of description. Many studies have shown that businesses with a sales process make more sales than those without. It doesn’t only aid in improving performance and standardizing procedures but also in identifying process flaws and accelerating beginner learning.