If you are in doubt that your prospect will respond positively to the deal that you have proposed, then it is time to think again about your closing techniques and strategies.
Closing a deal with any prospect is the hardest nut to crack. Most of the sales representatives would concur with this assertion.
How then do you approach the potential customer to quickly complete the deal?
You can accomplish this through a variety of methods, but consistent and efficient time management should be the main ingredients in your recipe. Many sales agents struggle to locate either of these traits, despite both being common.
What are sales techniques?
A sales closing technique is a sales strategy that sales reps can use to move the prospect closer to closing the sale and converting them into a paying customer. These methods of approaching the prospect can guide a sales representative in handling different prospects and their objections.
What are the key elements of some common sales closing techniques?
The key elements of these sales techniques are:
- tactics to deal with the prospect’s objections.
- way of presenting the offer to the prospect.
- Using time as a currency to get your way with the prospect
- Using a price quotation to suit the prospect
When price of your product or service is the issue the two most common possibilities are:
- The prospect does not see value for the price paid
Both of these issues can be handled without offering the price cut or discount.
In the scenario, where the prospect does not realize the value of your product and services, your efforts should be to make them realize that. Direct your pitch on the value your company can provide in contrast to the price that you offer.
What are the two approaches to closing the deal?
Traditional and modern sales techniques are two ways to close the deal. The traditional approach uses more hard-sell tactics as compared to the modern approach, which uses a more subtle way to close sales.
Different closing techniques to convert the prospect.
It’s either now or never:
The now-or-never strategy treats time like a finite resource. In order to build urgency, the sales agent must present the offer to the prospect. This strategy coerces the customer to choose to buy.
The largest obstacle to closing a deal is when the price and the prospect’s needs are out of sync.
In other words, they don’t require every feature you’re offering. Here, adjusting services to the needs of the customer will lower the cost of the final product as well.
The assumption of closing is predicated on the idea that you have confidence in your ability to close this deal from the minute you start working on it.
Your use of terminology throughout suggests that you consider the sale to be a “done deal.” The secret is to follow up with your prospect frequently, gauge their degree of interest, deal with any objections, and ascertain whether they share your viewpoints.
The Columbo Ending:
Do you remember the TV sleuth Columbo? Many accomplished salespeople use his catchphrase, “Just one more thing,” as their credo.
When a suspect assumed Columbo had finished with them, he would put them on the spot by turning back and requesting “one more thing” as he walked away. This last-ditch sales tactic can persuade a consumer to stay once you believe they are about to depart.
The Sharp angle close:
Some people are constantly exposed to sales pitches, so they recognise they are in the driver’s seat and may ask for extras or discounts since they know you’ll expect them to. A sales pro can catch these seasoned negotiators off guard by using the Sharp Angle Close to deal with them.
Give them what they want, but with a price, if you have their permission: “Sure, I can give you three months of service for 10% off, but only if you sign the contract today.”
Ben Franklin Close:
In order to close a sale, you can urge your sales prospect to make a number of minor promises. This is known as the “Ben Franklin close.” You may, for instance, request that your sales prospects sign a sales contract, pay a deposit, or agree to a trial purchase from you. With the help of this sales closing strategy, you may persuade your prospective customer to make promises that will eventually result in a sale.
For instance, “Mr. Prospect, I understand that you might be hesitant to buy anything today. However, I can promise you that my sales manager will approve a special sales discount if we work together on this sales order. I’ll email you a sales agreement as well, so we can both agree on it.
How can automation help you close the deal faster ?
From the above discussion you have a better understanding of the ways to close the deal but it’s easier said than done.
With the multiple tasks that sales reps have to deal with it’s not possible to concentrate on the prospect alone.
Now, the question arises is there a way in which the administrative task like data entry, scheduling the calls, setting up the multiple sequences can be automated.
Yes, with tools like SendBuzz you can optimize your sales engagement to shorten your sales cycle by letting the software do the administrative work for you so that you can focus on closing deals.
Some of the important feature that would help sales rep are:
- Multi-channel outreach: With the feature of multiple-channel outreach your sales rep can approach prospects at various touch points with ease. Get access to multiple channels on a single screen so that you don’t have to go back and forth to get the prospect information.
- Smart sequencing: Personalized sequences improves delivery rate resulting in more clicks i.e your email getting more attention.
Closing the deal is significant for both the organization and sales rep as it is the source of the revenue generation for the organization and sales rep can meet their quota. With LeadCRM’s advanced features, you will be able to add new prospects in your sales pipeline with one-click operations.