Master Sales Closing

Do you ever spend an excruciatingly long time behind a prospect and then the deal falls?apart??

Yes, almost every salesperson must have had that one deal that didn’t go through.?So, what can you do to make sure that you don’t lose any important deal??

Here’s the thing – you need to make sure that you pay attention to every step of your sales process. Moreover, you also need?to follow a specific framework when you’re closing any deal.?

Did you know that sales representatives spend?65% of their time?on manual tasks such as data entries and paperwork??So,?they don’t get sufficient time to actually focus on closing the deal.?

Yes, when you are not fully?dedicated?to your main goal, you are more likely to miss out on important prospects.?

In this article, we have shared how you can close sales like a pro and excel at your task. But before we get onto that, let’s first understand how sales closing exactly works.

What is sales closing and why is it important?

Sales closing is a technique where you convince the prospect to make a deal with your company; it can be related to selling, consulting, or any services.?

A deal is usually assigned to a sales rep, so with the closing of every sale, the representative reaches closer to their goal of achieving the monthly or quarterly quota.

Based on the above statistics, if your close rate falls below?the average?close rate of?19%?across all industries, then you certainly need to optimize your strategy.?

Closing a sale is a very crucial part of any sales process because, at this point, you’ll learn whether your prospect is ready to associate with your company or not.??

To understand how you can master the art of closing sales, let’s first understand where exactly it stands in your sales process.?

When does sales closing come into the picture?

The sales process of every business differs based on its business model.?However, sales closing is usually during the end of your sales process.??

So, once you’ve connected with the prospect, presented your product/service and value proposition, then you need to persuade them in making a decision.?

The below image represents where?exactly?sales closing stands in a sales process.?

Closing is the 6th?and the most satisfying stage of the 7-step sales process.?Hence,?sales closing is of the utmost importance as it can make or break your deal.??

5 Essential rules for closing a deal

When it comes to closing a deal, every action you take has a consequence, therefore you need to make sure that your sales?funnel is clear and doesn’t have any obstacles. Moreover, there are some proven strategies that can actually help you when you’re closing any sales.?So, follow the rules that I’m about to share and experience your sales skyrocketing.?

1. Identify your buyer persona?

There are instances where the lead backs off at the end of the sales process, and your deal falls through the cracks. This is because you didn’t target the right audience.?

Therefore, if you want to close every deal in your sales process, you first need to identify your buyer persona. Find out your target audience, their interests, and preferences, the channels where you can find them, and then?make your next move,?

Identifying the buyer persona enables you to filter your leads and go ahead with the ones that can be potentially converted into customers.?

2. Find out the decision-maker?

Your deal will only go through if you are connected with the right person from the organization.?

For instance, you are offering live chat software,?you will need to connect with the upper management and present your value?proposition so that they can consider implementing it into the organization.??

At the same time, if you had reached out to a marketing manager of the same company, you wouldn’t have received the same response.

3. Product should be identified by its value?

Buyers are now increasingly focusing on the product value rather than its price.?

So, gone are the days when the price was the main factor in a purchase. Now, the buyer needs to know that the product or services they’re investing in will add value to their business.?

Therefore, whenever you are about to close the deal, ensure that you focus on solving the main challenges of your clients rather than just talking about your product.?

4. Collaborate with your team?

One of the most effective ways to succeed in closing more sales is to work in a collaborative manner with your team. A deal requires many touchpoints before you can move it to closure, hence you need to get your entire team on board.?

With collaborative teamwork, you can resolve customer queries faster and guide the lead through the sales process.?

5. Have a straightforward approach?

When you’re closing sales, there’s no beating around the bush.??

You need to come forward and make the sale. And this will only happen when you are clear in your approach and convey the same to your client as well.?

5 highly effective 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.

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.?

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.?

4.?Shhh…?

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 of utmost invalid, and he will jump on to your deal.?

BUT,?

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.”?

Most 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 it.?

Here’s how you can handle the conversation:?

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 a situation:?

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 the USPs of your product.?

This is how you can handle the conversation:?

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:?

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:?

Have a clear view of?customer’s journey to deliver better??

Every customer will require multiple touch points before you can close the deal.?

Know where your deals stand?

With a clear view of your?sales pipeline, you can identify the bottlenecks in deals and find ways to guide them towards closure.?

You can create multiple sales pipelines and track each?deal, follow-up at the?right?time, and close sales faster.??

Sales pipelines can also be customized as per the deal so that you can focus more on selling and less on the guesswork.?