When you see Don Draper in Mad Men, you wish you have that charisma and raw confidence to close sales deals.
I feel you!
But does the real world matches with the reel world?
Well, all I can say is, the movie creators ‘sold’ us those epic scenes!
In real sales, you need sales closing techniques and tips that work, with the confidence of course!
In this article, we’re going to talk about some important sales closing techniques that actually work for businesses. These techniques will help you close sales deals on various communication channels like calls and emails. We will also talk about a bit on face to face sales.
But first, let get a closer look at what is sales closing, with some statistics.
Sales closing: things you should know
Closing is the 6th and the most satisfying stage of the 7-step sales process. Sales reps live and die to reach this stage.
That means something is wrong.
Maybe a majority of sales reps are not aware of the right sales closing techniques. They might be needing some sales closing tips too.
This article will cover both. So,
Sales closing techniques
1. The assumptive close
I call it the “smooth move”. This is a modern sales closing technique where the sales rep tries to slip in the proposal smoothly.
Most sales reps misinterpret this as a shot in the dark. But it’s a rational technique where the sales reps understand customer needs from the roots. Then they identify that their product is meeting most of the requirements.
Then you slightly slip your proposal at the end of the conversation!
To get success with this approach, you must ask the right questions; questions that derive customer needs. Then you can simply mark the checkboxes, and go for the hunt.
Here are some questions that could help:
- What are your short-term and long-term goals?
- What are your current needs?
- What challenges are you facing?
- What are you expecting from our product/service?
- What is your buying criteria?
2. The take away close
I call it the “risky business”.
This is the case where the customer and you, both know that your product is the best fit. But the prospect will come up with reasons and arguments, just to get some discount out of you.
At this point, reps usually give up discounts at the risk of losing the prospect. But, if you have observed the requirements closely, and you know that your product is the best fit, you can play this calculated risk.
The conversation would look something like this:
Prospect: All that is fine, but we still think your product is a bit out of our budget. We’re still not sure if this is the right choice for us.
A smart sales rep: Well John, I think our product is meeting almost every need of yours. Because I have personally checked the boxes. But that’s completely fine. If you want to explore other products in the market, we can surely postpone this. I’m pretty sure, our pricing is at least 20% affordable than other competitors in the market.
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3. The now or never
This is a very popular sales closing technique when sales reps lure prospects with some exciting discounts and create a sense of urgency. It is widely popular to meet sales target and close deals faster.
The conversation would look something like this:
Prospect: We really like your product. I’m talking to the management, and we’ll be signing up with your product probably next week.
Sales rep: That’s great. I have to tell you that we’re providing a 10% discount to every signup that occurs this week only. So, you might want to hurry up a bit!
4. In conclusion close
I call it “A Walk to Remember”.
This is a sales closing technique where you give a walkthrough to your prospect. Basically, you recall all the key points of your past meeting and convince him that your product is just perfect.
This technique is very effective when you already had several meetings in the past. You have been explaining the product from a very long time and the prospect is constantly showing interest.
It’s time to tell your prospect that your product is the perfect fit for him with X solid reasons. It looks something like this:
Sales rep: “Sundar, we have been discussing XYZ for a week. I’m really happy that I could explain the product to you in-depth. As we discussed, I hope XYZ will add real value to your business. Can I explain to you our pricing plans?”
5. The objection close
This is a very smart sales closing technique where you ask the question to the prospect. Though, you must be very thorough with your product training.
You have to clearly understand what the prospect wants, and you make sure you have solved each and every query in the product demo.
After the class, you can be the teacher and ask “So, do you have any doubt in your head or we can proceed with the deal?”
Now, when you ask that question, you should be ready for the counter-objection also.
Most of the times when we ask a question, we’ve already decided on an answer. And it’s the answer we want to hear from them.
This shouldn’t be the case here.
You genuinely solve every question of the prospect and then ask for closing the deal.
6. The pressure game close
Between the prospect and sales rep, the authority is always held by the prospect.
Prospect drives the conversation. The questions he asks give direction to the deal.
This is a psychological sales closing technique where you simply shift the pressure on the prospect.
This is how the conversation would go:
Prospect: “Can you say that if we use your services, our traffic will get double by the end of this quarter?”
Sales rep: “If I can promise that your traffic will get double by the end of this quarter, would you buy our services?”
Now, the pressure is on the prospect, and he has no reason to say no!
You must know what you’re promising. You can’t just say the words that can damage your brand reputation.
Be reasonable. Be practical.
For that, you must know your offerings thoroughly. You should know your limitations.
If the prospect is making an unreasonable demand, say that you just can’t deliver that, and neither can any competitor.
7. The empathy close
Empathy is one of the strongest things in this world. Not many people have this ability.
If you have understood empathy, it will make you stand out from the crowd.
In many cases, the prospect is not ready to make the decision. Maybe he needs permission from management or high authority. Maybe he needs a little time to think over your deal. Maybe he needs to manage the funds.
You don’t know.
So, you simply say “I can understand”.
Such a response will initiate a great bond. This bond will eventually help you close the deal.
So, these were some great sales closing techniques. Now, we’re going to look at some sales closing tips that can help you close faster.
Sales closing tips
These sales closing tips can be useful for different modes of selling; calls, emails, or face to face meetings.
Let’s have a look.
1. Talk, don’t present
Just 61% of salespeople feel they’re good at identifying customers’ pain points. – Unknown
Talking and speaking are two different things.
While speaking, you’re more concerned about presenting your point. You think about the things you’re going to speak all the time.
Most humans are concerned about speaking.
Talking, on the other hand, involves listening. Did you hear that?
When you really talk with people, you care about what they are saying, too. You understand what they want and then present your views.
In sales also, most representatives are concerned about presenting their product. However, the best approach is to listen to what the prospect really needs. Then you can mention the benefits of your product, and go for the closing.
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2. Drop the cliche
You know what I’m talking about – High pitched voice, fake enthusiasm, the desperation to sell the product.
It’s a no (in capital letters) for many prospects.
Be calm, authoritative!
You know you want to sell the product, so does the prospect. But first, you must build a rapport. You need prospect’s full attention so that he’ll listen to what you’re offering.
3. Find a midway
I think most of the sales attempts fail because the prospect does not find any value for him.
Your product is essentially created to help out the customers, and if they don’t seem confident about it, there’s no point.
The most logical thing to do is find a midway.
If the customer is not sure about your product, offer a free trial for a couple of days.
Bring the prospect into the comfort zone, then go for the closing.
This is a well-known psychological method to get what you want, but you have to find the perfect line.
In a situation where you ask the prospect for closing the deal, and he counters you with some unreasonable arguments. The motive of such arguments is to get some discount.
Don’t say a word!
Silence can make the entire room uncomfortable. And we know humans are primarily seeking comfort. In those weird moments of silence, the prospect will realize that the argument is utmost invalid, and he will jump on to your deal.
There’s a fine line between ‘uncomfortable silence’ and ‘unbearable’ silence. We better not explore that painful end. This sales closing tip is more useful when you’re meeting the client face to face.
5. Suggest your competitors
This may sound really stupid to salespeople, but this tip can actually help. But you have to pick the right moment.
In a scene where you just can’t offer any discount, but the prospect is stretching the deal for less pricing, simply say:
“If pricing is your major consideration, I think you can explore other options. If features and style are on your list, I bet you can’t find a better option than us.”
Common sales closing objections
Sometimes prospects have to mold the situation to buy some time or to slip away from sales deals.
Objections are the cruel reality of sales, especially for the reps. I mean it is quite disappointing to hear excuses after you’ve put so much effort behind one prospect.
Good thing is – there are witty ways to deal with sales objections. You can’t turn a ‘No’ into a ‘Yes’. But, for the prospects who aren’t sure about your product, these responses can help.
1. Sure, I’ll call you back later
We know, that never happens.
As a sales rep, first, you have to clear the air. Because, if the prospect is not interested in your product, there’s no point fighting over.
Here’s how you can handle the conversation:
Prospect: “I think I have to call you back. Can we discuss this later?”
Sales rep: “John, most of the time when people say that they’ll call me back, they don’t. They are usually not interested in my offerings. Can I assume that’s the case with you? If that’s not it, you can tell me what’s stopping you to know more about our product.”
2. Okay. Send me some more information
This same sentence has different intentions, depending on when it is spoken.
If such a statement is spoken at the beginning of your sales cycle, that means the prospect is interested to know more about your product. But if you hear this at the time of closing, it’s a real disappointment.
Since we’re talking about sales closing, here’s how you can manage such situation:
Prospect: “Okay okay. Can you send over some more information on my email?”
Sales rep: “Brian, today is our 4th call, and I’ve pretty much shared everything about our product. Nevertheless, I can arrange a second demo for you if you still have questions.”
3. We’re already working with your competitors, and we’re satisfied
You have to be really mindful about what you’re going to say when you hear this sentence. You must know your competitors very well, and USPs of your product.
This is how you can handle the conversation:
Prospect: “We’re using XYZ already, and we’re not facing any issues.”
Sales rep: “Our product can save up to 20% of your cost compared to XYZ. If you can give me 10 minutes, I can explain some of our features and pricing models.”
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4. Can you call me back next quarter
Prospects can stretch your limits. They will push your boundaries. You need to know what exactly is the reason.
Here’s how you can respond:
Sales rep: “Ohh! Sorry about that. However, if we can set up a five-minute call, I can explain what we can offer. If you’re not interested, we can really save our energy in the next quarter. Does that seem fair? When can we talk for 5 minutes?”
5. We don’t have the budget
I think there can be multiple reasons behind this sentence. The prospect could be facing a financial crunch. Or they have a fixed budget. Maybe they can stretch their limits, maybe they can’t.
Well, before you know the actual reason, you have to propose your products and values first. If the customer is genuinely interested in your product, there can be some adjustments.
Here’s how you can answer:
Sales rep: “Well. Let’s not discuss pricing at this point. I just want you to understand what we do and how we’ve built our product. Can we have a quick 10-minute conversation?”
Face to face sales closing
It’s a different ball game!
Closing sales on email or a call is certainly very easy compared to face to face meetings.
When meeting the prospect in person, you have to take care of your posture, your appearance, your words, basically your entire personality.
Let’s talk about some of the most important points when doing sales face to face.
I can’t use “First Impression” because you might already have met the prospect a couple of times at the time of sales closing. The important thing you have to do is build a rapport with the prospect.
After 2-3 meetings, you should be comfortable enough with the prospect, so be genuine and honest without hurting any feelings.
An impression is a huge subject to discuss, and it’s a gradual process. It also varies from person-to-person.
All you have to make sure is that you reach 5-10 minutes before the meeting.
Not too late, not too early.
If you arrive too early, it looks desperate and leaves a negative impact on the prospect. On the other hand, reaching too late is disrespectful. It shows that you don’t value prospect’s time.
3. Posture and gestures
It takes a lot of practice to master these two things, but the results are amazing.
Your posture shows your confidence and authority, and your gestures show that you know your stuff. You know everything about your product.
And a good smile always helps!
Apart from ‘what you speak’, ‘how you speak’ also makes a lot of sense.
‘How you speak’ opens a lot of gates, and these are the main points to keep in mind:
1. Depth & tone of your voice.
3. Selection of words.
4. Silence and pauses.
5. Eye contact
Eye contact certainly shows confidence, but it also shows authority.
It shows the prospect that you’re in this business for a long time, and you know your stuff better than anyone.
Proper eye contact can drive the sales conversation.
Just like everything else in this world, you have to find the balance.
Too much eye contact is hazardous. It makes people uncomfortable, and nobody appreciates that.
Look into prospect’s eyes and smile. That shows happiness, care, and honesty.
But looking into prospect’s eyes and not smiling. That shows you have a knife in your bag, and you’re about to kill him.
But a smiling face leaves a great impression, and we all know that.
All these 6 points are extremely important in face to face sales closing. Mindfulness can help you a lot in face to face sales too. It can help you make quick decisions and give witty answers.
You have to be mindful when it comes to sales closing. You have to closely observe what works for you and what not.
When you pitch features in-depth and the deals get closed right after – keep that in mind. Similarly, when you mention pricing, and it’s an instant turn off – take a note of that too. A good CRM for small business can really help you in identifying what works for you and identifying your strongest suit.
Make sure to check out Salesmate CRM that can help you get a clear picture of your sales pipeline, and help close faster.
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