How To Close A Sale? 7 Tried And Tested Techniques
In a perfect world, a prospect interested in a product or service would eagerly approach a salesperson and initiate a conversation—which will later lead to a successful deal. Unfortunately, that’s a far-fetched dream; sales rarely happen in real life in this way! More often than not, no matter the product or service, salespeople have to deal with clients who are difficult to convince.
With tough customers, the process of sealing a deal can take weeks on end without ever actually knowing whether it will end in a sale or not.
What Is The Sales cycle?
Although you can’t force a sale, it would help to know and leverage the seven tried and tested techniques in sealing a deal. However, before anything else, it is vital to understand each stage of the sales cycle to better your chances of thriving in the sales industry.
Also, through mastering the sales cycle, you can measure your performance, identify your weaknesses, and improve your skills and sales results.
his refers to the process of finding new prospects and identifying qualified leads. Prospecting helps in filtering out disinterested individuals—narrowing your market and accurately targeting potential customers who fit your buyer persona.
The process can be done in various ways both offline and online. Although to ensure better leads when prospecting online, it helps to have a well-designed website with impeccable UX experience to quickly build your clients’ confidence.
Once you’ve filled your pipeline with quality prospects, you can then move on to making contact with them and initiating a conversation about a product or service they might be interested in. This can be done in different ways, including reaching out through social media platforms, phone calls, emails, and even having face-to-face interactions.
Through the qualifying process, you can learn more about them, their business, and their needs. This research phase helps you to gain more insight and confirm whether or not a prospect is genuinely interested in closing a deal with you.
As you get to know your potential customer, you can create a tailored sales pitch that meets their unique needs and wants. This step is one of the most crucial of phases, which is why it is essential to gain the trust of your client while pitching your product or service. It is also important to be open to answering questions and addressing some objections with honesty.
The most important yet most overlooked step is sealing the deal. Asking for a close can be tricky even when you have a highly interested and motivated client.
So, how do you successfully close a deal?
Here are the top 7 tried and tested techniques that salespeople strongly believe in and swear by:
#1 Urgency Close
While some prospects might genuinely need your product or service, they still might hold back as they have some reservations or are afraid to commit right away. The urgency close, also known as Now or Never technique, can be helpful in such situations. This sales method is done by placing pressure on prospects who are on the fence to make an immediate decision. It is best carried out by offering exclusive, limited-time discounts or freebies that can trigger an immediate purchase.
However, this type of closing technique is not a one-size-fits-all solution—it is usually recommended when you have established value and trust with your client.
#2 Puppy Dog Close
This closing technique is drawn from the assumption that only a few can resist adopting or buying a puppy, especially when they’ve had the opportunity to bring them home for a little while—9 out of 10 times, they’ll inevitably develop a strong bond with the puppy and agree on a sale.
Same goes with having your prospects test out your product or service for free before offering a sale. Boost the results even more by giving your potential customers something for free without expecting anything in return—by showing goodwill, prospects often tend to respond with a favorable action.
Salespeople can use this technique in the automotive, retail, and real estate industry. By employing the puppy dog closing technique, you can immediately increase your sales results.
#3 Assumptive Close
The assumptive technique leverages the value of positive thinking. By assuming a deal will be closed during the initial stage, you can be in a better state of mind—increasing your chances of actually sealing the deal. The closing technique can be carried out through being as confident as possible when presenting your product or service while using phrases that assumes a done deal.
For example, you can ask your prospect when they want to receive the keys to their new house or when they want their new car delivered. By establishing a short timeline and having the upper hand, they won’t have time to sleep on the offer or come up with objections. This will nudge your potential customer to make an immediate decision.
#4 Option Close
Similar to the assumptive sales technique, the option close allows salespeople to offer options rather than directly closing a deal. Using the example for the assumptive method, rather than asking when your client wants to receive the shipment, you can close with, “Are you available on Monday or Friday to receive the shipment of your car?”
#5 Summary Close
Presenting a summary of the advantages while stressing the value of your product or service can help your prospects justify their need to purchase and visualize what they are truly getting out of the deal. You can use this technique by reiterating how your product or services will help your potential customer solve a problem they are concerned about.
By bringing to the table the benefits specific to their needs and painting the big picture, you’ll be one step closer to ultimately sealing the deal.
#6 Take Away Close
Instead of forcing a deal to happen, you can leverage the takeaway technique to secure the sale. Generally, people hate it when things are taken away from them, especially the things they need or want.
By showing your prospects the perks they’ll lose if they decline your offer, they’ll realize how much they actually need your product or service—which will lead them to take action and make the purchase.
#7 Sharp Angle Close
People often want to get the best deal possible. When you’re confident your client is genuinely interested in purchasing your product or service but is asking for price reductions or special deals, you can employ the sharp angle close. Catch them by surprise by agreeing to give them what they want under one crucial condition—the most common of which is to decide to close within the day.
With the vast array of sales techniques used today, it can be overwhelming and confusing, especially to people new to the industry. Since closing is the most vital step in the sales cycle, it would be beneficial to master these seven basic techniques.