You’ve done all the hard work; spent weeks building an exhaustive list of potential consumers, building a strong relationship with them and come up with a detailed plan of how your product can meet their needs, only to see it fall through your fingers as you approach the close.
Closing a deal is one of the most challenging aspects of sales. People are afraid of commitment, which means the very best sales closing techniques employ some degree of psychological tricks and manipulation. These are the 4 top-performing sales closing techniques designed to give customers that final nudge they need to sign on the dotted line.
It’s Now or Never
Often, the customer needs a sense of urgency to get them to commit. The ‘Now or Never’ approach involves the salesperson making a statement that implies that immediate purchase will save the customer money.
For example, the salesperson might disclose that this is the last sale you are able to make at this price, the next batch of products will be sold at a higher price. It might mean offering a 10% or 20% for customers that purchase today or offering an expedited implementation process as an incentive.
Paint a Picture
During the research phase and sales pitch, you should have accumulated a great deal of information about the prospective customer’s individual needs. To close the deal, finish by tying all that information together and demonstrate how your product is the perfect match for the client.
Painting a picture of the client’s situation will demonstrate that you have listened and understood the customer’s needs. It will also effectively show that your product can advance their goals and show them why they need your product.
Using Their Negotiations to Your Advantage
Potential customers are always eager to get the best deal possible. They often ask for free additions, discounted subscription rates, and reduced sign-up fees. One of the best sales closing strategies involves using these negotiations to your advantage.
When the customer asks for a discounted rate or an additional add-on free of charge, tell them that you will only accommodate them on the condition that they sign the contract immediately. If you are making concessions, it is only fair that they will too.
The Assumptive Questions
Instead of asking the customer a yes/no question, which gives the customer an easy way out of the deal, ask assumptive questions. Finishing your pitch with a question like: “it is apparent that our two products are well-suited to your particular needs and goals, which option would you like to proceed with?”
This question presumes that the client is going to move forward with one of your products. It is therefore much more difficult for them to wriggle out of the deal if they don’t wish to proceed. Offering no easy outs will increase your conversion rate by taking the ‘no’ option off the table.
Mastering the close is arguably the most difficult aspect of sales and requires the most skill. However, once a salesperson masters it, conversion rates skyrocket and the deals soon come rolling in.