The final closing is when a sale is made or broken. You need to use the proper phrases to ensure the deal is truly done and sealed. This is the time when you will see if your efforts paid off or not.
As a salesperson, you may feel worried about closing because of the risk. But you need to endure this uneasy feeling because it will be worth it if the closing is successful. Instead of feeling apprehensive, you will feel thrilled and excited. Once you feel this way, you can use that energy to strive for more sales and closings in the near future. It is expected of salespeople to have a high rate of successful closings. That is why several sales closing methods were created throughout the years to assist them in this.
Below are a couple of closing methods which are proven to be successful and effective.
1) You Must Close Now or Never
To encourage the buyer to close immediately, the salesperson will make them a special “limited-time” offer. This is an offer with a unique benefit to the buyer, but it won’t last long. They need to purchase right away to get the benefit and offer.
For instance, you could tell the buyer something like “if you sign up for a membership today, you will receive a 20% discount on all our products for one month.” Another example could be, “The product is only available today at 50% off. After today, it goes back to full price.”
This “urgency” that you create in the buyer’s mind will give them an extra incentive to want to close. Just make sure you let the buyer know the value of the product before promoting a discount on it.
2) Summarize at the Closing
At the closing, the salesperson will summarize all the products in which the customer has agreed to purchase. They will review the benefits of these products and their value to the customer. This will hopefully motivate the prospect to actually put their signature to the deal.
Prospects always feel a little bit of hesitation when it comes time for them to make an official commitment to the deal. But if you can help them visualize the benefits they will receive from the deal, it will make them feel better about it.
3) Closing with a Sharp Angle
Potential buyers will usually want to get discounts on the price or additional features for the price. The sharp angle method of closing can be implemented to surprise your potential buyers. Just ask your sales manager first if it is okay to use it.
For instance, if the buyer wants a discount and a couple more hours of onboarding, you can agree to do that if the buyer agrees to sign the contract right away. This counter response will take them by surprise but since you agreed to what they wanted, they might go ahead and give you what you want too.
Sales Closing Methods in Modern Times
These are old methods of closing which you might think won’t work anymore. They are kind of “salesy,” especially where inbound sales are concerned.
Remember that when you finally close, it needs to include all the agreements and conditions that were made throughout the sales process. It cannot just be agreements made at the final closing itself. You can record all the steps that were done in your sales processes by mean of automation tools. For example, Closer bot allows to update any information and mail it directly to CRM – so you will never forget what was the last point of your pipeline.
As a sales representative, you should find out the needs of your customers.
Talk to your customers effectively and tell them how your products or services will benefit their needs. Also, tell them what you’re selling is affordable and a much better deal than anyone else is offering. If you can convince them of these two things, then closing should not be a problem.
4) Closing Questions
To satisfy these needs of your customer, you need to ask them questions first. Successful salespeople will always try to work on the closing during their first conversation with a potential buyer. They will ask the prospect numerous questions to try and get an understanding of what their concerns and needs are. From there, the salesperson will work to eliminate the prospect’s concerns and show them why the products or services are just what they need.
If you want, you can even ask a question to close the sale. This is a question which addresses the prospect’s problem and tries to finalize the deal.
For instance, “Do you believe my product can satisfy your needs?”
This question lets you know if the prospect is convinced that your product is what they need. It will even give you a clearing to introduce other related products to them as well. If the prospect says “no” to the question, then you can try again to reiterate why your product is good for them to have. If they answer “yes,” the next step is to have the prospect sign the sales contract.
5) The Assumptive Closing Method
Positive thinking goes a long way in the closing process. As a salesperson, from the beginning, you need to believe that you can make this deal happen. This positivity will reflect on every step of the sales process.
It is crucial to watch your potential buyer’s concerns, interests, and engagement very carefully. Once you have given them your sales presentation, ask them afterward if it met their expectations. Also, if you gave the prospect some additional new information concerning your service or product that they didn’t know before, ask them whether the service or product looks like it will be valuable to them. Ask them, “Does it satisfy your needs?” By expressing these positive intentions to the buyer, it will give your sales process a lot more direction and power.
6) The “Take Away” Method of Closing
When you take a kid’s toy away, what happens? They typically want it back and will not stop until they get it back. This kind of psychology can be used on your prospects too.
If you have potential buyers who are concerned about the price, just take away one of the features of the product or service and then give them a discounted price. When you do this, the prospect will dwell over the feature that was removed instead of the reduced price.
A salesperson must be proficient in the technique of closing. No other technique is more important in sales. If you need help with this, find another salesperson to help educate and guide you.