How to close a sale

We are often asked for a course on how to close sales. I always reply - this is not a standalone skill. It is some that happens as part of the wider sales process, one element in a chain of events, which begins with the salesperson planning for the meeting. So what is the sales process? In brief it is:

This is a very simplified summary of a complex process that requires a high degree of skill on the part of the salesperson and it may take several meetings before the buyer is in a position to make a decision. However, what most salespeople fail to realise is that closing is more about getting all the other previous parts of the process right, also timing and confidence than sales techniques. Many salespeople are looking for a closing technique that will make the decision making process easier and take away some of the pressure felt by both buyer and seller at that moment of truth.

The problem is that at this moment of truth, the salesperson is worried about getting rejected and the buyer is worried about making a mistake, so it is all too easy for either, or both sides to delay the buying decision, rather than risking rejection, or making a bad decision.

It is up to us as salespeople to have the confidence, at the right time, to ask for commitment and risk rejection. That is our role and unfortunately, 7 times out of 10 we fail to ask for some kind of commitment and this can lose us the sale we have been working so hard to achieve. Here are some insights to help you:

1. Closing the Sale is an integral part of the sales process. This means that closing techniques in themselves are not enough to ensure success, if the other parts of the sales process have been neglected. Before a buyer will place an order with you, he or she will have to see a need for your product and be convinced that your particular product represents the best solution to the problem represented by that need. That is, the cost is reasonable, they have confidence in your ability to deliver your promises. Only when all previous stages are covered correctly will a sale be made.

2. No salesperson ever closed every sale. Everyone who has ever sold professionally has had to get used to living with rejection. A good salesperson will often be rejected more times than they are successful. The secret is to `learn to live with rejection'. Every time you fail, you move closer to the time you will succeed.

3. Selling is a `numbers game'. This is perhaps the most important point. Given a `basic' level of skill in sales techniques, the amount you sell is directly related to the number of calls and meetings you make. The more customers you see, the more business you will close. Make time each day to prospect.

4. Certain key ratios apply to your sales activity and in turn closing success. By measuring your sales performance over a period of time you will understand more fully the key ratios that apply to your business. Examples of these could be:

• Appointments booked to number of calls made
• Number of leads from `cold' calls made
• Number of sales from meetings
• Number of sales from presentations made

In sales, these ratios vary depending on the industry, the products and how the products are sold. The key learning point here is that these ratios will tend not to change much over time and can be used in planning individual activity in order to exceed sales targets. Also, by being aware of the relative success of different methods you will be able to plan your activity more effectively by spending the maximum amount of time on your potentially most productive sales activities.

5. The right time to close is when the customer is ready to buy This is so important. Closing tends to happen towards the end of the sales call but don't assume this will always be the case. If the customer wants to buy early into your sales presentation / meeting / call then you should get commitment straight away. There may be more information you need to give, however, having gained commitment the customer will be more relaxed and less likely to raise objections at a later stage.

6. Look for more than one opportunity to close the sale. There will be several occasions during the sale when the customer is ready to buy. There will also be more than one opportunity for you to close the sale. Just because the customer says `no' now, it doesn't mean it won't be `yes' in ten minutes' time. `No' can mean various things:

• Not on the terms you describe
• Not in your timescale
• Not at that price
• Convince me further
• I'm getting interested but I need more information

7. Buyer resistance is natural and should be expected. During the sales process the buyer is under as much pressure as the salesperson. The buyer is often thinking about the consequences of agreeing to your proposal. The buyer may be thinking:

•  Does this represent value for money?
• Are they as reliable as she says they are?
• Is her product better than her competitor?

Often when the buyer hesitates during the closing stages he or she is seeking reassurance from the salesperson in a consultative, non-threatening way, that the decision that is about to be made, is a good decision.

8. Buyers seldom ask you for the order Most buyers rely on the salesperson to make the buying process easy for them. However, they rarely ask for the order outright so the most effective and most obvious closing technique, having gone through the several stages of the call, is to ask the buyer if he or she wishes to place an order. By this stage, if you have carried out the other stages correctly, it is likely the customer will be ready to buy, but more importantly, you have earned the right to ask for the order. It is a fact, however, that around 70% of sales calls end with the salesperson failing to ask for the order. This is due to the salesperson's fear of rejection. So ask away and then be quiet and let them talk! Another issues is salespeople often talk themselves out of an order!