At one point or another, every salesperson will hit a block in their career. You may have a pipeline full of prospects, but you can’t seem to close a sale. This is when most sales representatives consider throwing out their entire sales process and starting over.
It can seem pretty impossible to discover any new sales closing techniques. The idea may not be entirely wrong. However, you don’t need to start at square one. It’s common to get stuck in a sales rut, but when it happens, it’s time to adjust your closing sales tactics.
Improving your close rate is difficult in execution but is within your grasp. This is the best time to reflect on your sales techniques and analyze what is working and where your prospects are falling off. This way you can keep and improve on the points working for your sales deals.
What is a Sales Strategy?
A sales strategy is a set of tactics and techniques designed to achieve specific goals. It includes everything from identifying target accounts to defining how you will go after them. It might include things like,
- Developing a marketing plan
- Determining how much budget is allocated
- Creating a sales playbook
- Defining the ideal customer profile
- Identifying the right positioning statement
- Choosing the right messaging tone
- Deciding whether to use direct or indirect channels
A sales strategy is documented plan designed for positioning and selling your product or service to qualified buyers in the most effective way possible. It should always differ from other companies. It provides a clear objective and guidance for your sales.
The sales strategies consist of the buyer persona, specific sales methodology, KPIs, team structure, and much more. The sales strategy always helps to reach your sales goals and have your sales expert and the marketing team on the same page. An effective sales strategy will need to focus on customer-centricity.
What are the sales closing techniques?
Sales closing techniques refer to the methods that have been proven over time to help you turn a potential customer into a buyer. Plenty of business people have done enough research on the matter and there is tons of information available on the art of closing. You never have to start from zero and develop your own techniques.
Instead of pitching new ideas every time and checking where it leads, you can consider sales closing techniques like roadmaps that can guide you towards closing up a deal. Ideally, you can master a wide range of closing techniques so you can tailor your approach to each specific buyer and situation.
Like most life skills, the best way to learn them is to start practicing them. You might feel clumsy or awkward the first couple of times you practice a closing technique, but as you build your confidence, you will start to see the results you are looking for.
The best closing sales techniques
Before you start practicing, the first step is to read through the multiple sales closing techniques and jot down all the techniques that resonate with your personal communication style and your business offers. Each of these sales closing techniques can be very effective, so it is entirely onto you what you want to apply first.
1. Put yourself in their shoes
One of the significant problems of closing sales approaches is that they focus too much on the product and the company. This is essential, however, not the only important factor. Selling is more about building a relationship rather than who has a better product.
Put yourself in the buyer’s shoes and say what you want to hear as a buyer and what would convince you to make the purchase. Sometimes the strategy on how to solve the problem and they can work into that strategy is more important than the tool itself. It can be helpful to run the technique through a few scenarios with a colleague or a friend. Always use the common objectives or the points where you lose prospects and build on that.
2. The Assumptive Close
There is a popular closing technique, the Assumptive close, where the salesperson assumes that the sales pitch has been successful and that the deal has been made. Sales representatives usually use this tactic when most of the boxes in each step of the sales process have been checked but not yet confirmed the deal.
The Assumptive close technique always works as it does not allow the potential prospect to sit down on your offer and gives them time to bring up objections and issues, which can ultimately lead to them backing out of the deal.
3. The Take Away Close
The takeaway close always works perfectly with the prospects, only if you do it right. When you are on the verge of closing the deal, the customer is reluctant to proceed. They suddenly come up with complaints to drive a bargain from you. A rookie sales rep would cater to all their complaints and offer everything to close the deal. However, an experienced sales rep wouldn’t budge.
With the Take-Away deal, you can offer to withdraw the whole deal from the client to push them to accept the offer. This can be applied to prospects who are time-sink and do not show much progress with your efforts. It is effective because letting go of a potential client shows how confident you are in your particular product, which makes the prospect reconsider the offer they might be missing out on.
4. The Now or Never Close
Now or never close, also known as the Urgency Close, is a sales closing technique where the sales rep pressures the prospect to make a particular decision. This technique works when coupled with a special discount or freebie for a limited period.
This technique works best when the prospect is on the edge of buying your product. Like the Take Away Close technique, a sense of urgency comes into the prospect’s mind with the fear of missing out on a discount and nudges the prospect over the proverbial line to get to your product.
5. Focus on the Pain
People never buy anything until and unless you generate a need for it, especially in the B2B sector. It can be pretty nice to have it without the urge or need. However, most people won’t make a purchase without it. It’s essential to focus on their pain points and magnify that pain.
The pain can be anything from the man-hours overworked or the thousands of dollars being lost every year to man-hours without having a solution. Whatever the pain point, you need to show that you understand their pain and have a solution. Translate down the pain point into what that means in money lost for your prospect. Show them what they are missing or lacking without using your product.
6. Something for nothing close
Something for nothing close refers to a social norm of responding to a positive action with another positive action. This technique always works around a similar concept. You give your prospect a free add-on or an extra feature in goodwill and they will be obligated to do the same in return, that something, in this case, buying your product.
Something for nothing works because everybody likes a free gift! Just to keep things clear, the freebie you provide should be of more value to them and less value to you. You cannot offer them free months over a paid plan. That would be a loss. You can offer them a handbag and ask them to sign up with you.
7. The Sharp Angle Close
The Sharp Angle Closing is a technique best used when the prospect is quite sure about buying your product. However, they have a nagging objection that is continuously stopping them. They always bring up this objection in the form of a challenge such as can you deliver or there is an issue and so on. While you use this sharp-angle technique, you can easily answer this question with another relevant question in the hope of closing the deal.
The deal is finally done if you get a positive response and dusted with your prospect. Otherwise, if you get a negative reply, you know that they are either not into the product or there might be another issue with it. Here you are conveniently given a second chance to clarify any issues they have.
Take time to understand your buyer’s role
Regardless of which sales closing technique you decide to implement, you will be in a better negotiating position if you take out time to understand your buyer. If you are selling to somebody who is part of a larger organization, find out the area of expertise and how much of the final decision to buy is theirs.
Consider that you are launching a new beverage, and you meet with a buyer at a restaurant chain trying to get your product on their menu. If the buyer has a culinary background, you should emphasize the unique notes of beverages. If the buyer comes from the finance side of the business, you may be more successful in discussing how the product addition will boost their bottom line.
It’s essential to take time and understand your potential buyer to help understand their specific pain points and customize your sales pitch according to their needs.
It’s time to prepare for your next closing now
Do not wait a moment to try out these new techniques, because your closing rate will not get any better until you improve your practices. Increasing your odds of success if going to take some homework and preparation on your part.
While all of these sales closing techniques can help you make and close a deal, it goes without saying that a single closing technique does not work for every client or prospect. Well, it’s not magic. It depends heavily on multiple factors such as the type of prospect you are dealing with, their requirements, opportunities, deal size, and much more.
The art of closing cannot be mastered over a few days or weeks, it requires constant practice, and none of these sales techniques will work efficiently for the business unless and until you start practicing it.
Check these out:
- Everything You Need to Know About Rate My Professor
- Top 5 Slack Alternatives For Team Collaboration
- 8 Microsoft Project Alternatives to Get Things Done
- 8 Best Estimate Software of 2022
- Top 5 Text to Speech Tools Your Company Should Try in 2022
- The 11 Best SEO Tools Used by SEO Gurus in 2022 (Free & Paid)
- Best 25 WordPress Plugins of 2022 and Beyond
- 10 Best Chat Apps to Use in 2022
- 5 Best of The Best Document Management Software in Town