What is Sales Closing Techniques For Your Business and Network Marketing.

20 Sales closing techniques For Your Business and Network Marketing.

Summary of The Article.

• There are various sales closing techniques such as kill the objection in advance, 70/30 rule approach, landmine approach, hard to get approach, Summary close approach.
• As per the 70/30 approach, let your customer speak more and you should listen to him. He speak more and you should listen to him. He speaks 70% while you speak 30% to maintain a healthy balance.
• In the landmine approach you need to explain the competitive advantage of your product to the customer.
• AIDA is also known as the Elevator pitch sales technique. You should explain your points in 1 minute in such a way that the product is sold.
• In the middle approach you don”t need to show the actual product that you want to sell. You have to show some other products to your customers such as an expensive product and a cheap product.
• Every approach has its own benefits and you should understand your customer properly before applying any of these approaches.

Main Content of the Article.

The sales closing techniques can change the game. These 20 techniques are discussed as follows:

1. Soft close vs. hard close approach.

2. kill the objection in advance.

3. 70/30 Rule approach.

4. Landmine approach.

5. Summary close approach.

6. Hard to get approach.

7. Quality close approach

8. AAAFTD.

9. 3Vs approach

10. WIIFM

11. My name is sweeter to me than honey.

12. AIDA sales technique.

13. SILY hypnotism.

14. Middle one approach.

15. Conditional negotiation

16. Rapport building.

17. Insight $ discover questions.

18. Trust signals.

19. Product demo.

20. Now or never close approach.

Let Me Explain you all these points.

1: Soft close vs. hard close approach.

1. Soft close:

In the soft -close approach, you need to ask a low impact question to your customer.

For Example:

* Now the customer will not fear in knowing about your product.

* He will feel that you do not have sold the product to him.

* You are only trying to provide him information about the product.

The soft-close approach will provide two benefits:

1. You will get to know if the customer is serious or not.

2. You will get a chance to explain your product.

2. Hard close:

1. This approach is an accounting technique.

For Example

You say that the sale will be closed on 31 January or 31 march etc.

2. This boosts the sale cycle and people buy the product quickly.

2. Kill the objection in advance.

1. You should know the objections that might arise about your product.

2. For example people complain that the product is very expensive or low quality.

3. So, you need to prepare a script or anti-dot about how to face these objections in advance.

4. You should explain your point indirectly before the customer puts any objection.

5. So you killed the objection in advance.

6. This approach is also known as the opinion before pitching approach.

7. When your product is new and you you have no idea about what objections can be there, you can take the opinion of your customer in the initial 30 seconds.

8. Now you can take your opinion in the first 30 seconds and kill the objections by explaining to him about your anti- dots.

9. There is a Next step close approach where you try to sell your product and take the customer opinion about the next step.

You should follow the LAIR Model:

*?L: Listen ( listen carefully to your customer)

*?A: Acknowledge( acknowledge his objection)

*?I: Identify objection( identify his objection)

*?R: Reverse objection ( do not reply rather reverse his objection)

3. 70/30 Rule approach

1, As per the 70/30 approach, let your customer speak more and you should listen to him.

2. He speaks 70% while you speak 30% to maintain a healthy balance.

3. The salesperson is learning about how to win the agreement. This is important for making sales and maintaining a relationship.

4. This is also known as the empathy close approach. you should listen to the customer point of view.

5. You should put your feet into the customers shoes.

6. Ask him a question and then listen to him carefully.

7. When he is finished with his thoughts, communicate your message.

8. With the help of active and deep listening, you can identify the needs goal, preferences, biases, beliefs, value of your customer.

9. Also you can observe his body language as the body tells the real feeling.

Golden Statement

It is no longer about interrupting pitching & closing. It is about listening, diagnosing, and prescribing.

4. Landmine approach

1. In the landmine approach, you need to explain the competitive advantage of your product to the customer.

2. This is also called the value edge approach.

3. You can explain to your customer about 30% of unique items that your competitor does not have.

4. So you have to create an impact on this item of competitive advantage in the brain of the customer.

5. You can discuss all the points that differentiate your product and the customer will get the reason to switch.

6. This will work as a landmine because the through of your product will be running in the mind of your customer.

5. Summary close approach

1. In this approach you have to summarise the features and benefits of your product again and again.

2. For example you have summarise the features and close again summarise close. Now the customer will buy the product.

3. The feature is a technology specification and the benefit is a feel-good factor that makes the customer buys a product.

This is also known as FAB that refers to:

*?F:?Feature: What is the Technical specification of product?

*?A:?Advantage: How it is better from the competition?

*B:?Benefit: What is the positive felling that gives relief to the customers?

* You should give less time to feature and advantage, and more time to the benefit

• .For example:
• If you sell a pen, a rubber grip is the feature of pen and the benefit is that is that it will be comfortable to customers.
• if you open 224*7 store, the benefit is customer can buy the product at any time.
• If you sell phone explain the benefit of the cord core processor due to which phone will never hang.

6. Hard to get approach

1. In this approach, you need to stop calling your customer.

2. You need to behave like an angry wife who has stopped talking to her husband and husband tries to make out things.

3. It involves one more approach known as best time to close approach.

4. You need to identify a trigger of your prospect life.

5. That means, now is the right time to buy the product.

Golden Statement

Either you have a sense of urgency today or a sense of regret tomorrow. Without a sense of urgency, desire loses its value.

7. Quality close approach

1. In this approach you explain your product quality to the customer.

2. This is also known as the Artisan close approach.

3. You explain your product in an artistic way.

4. It requires the art skill and ability that are used to make your product.

For Example

• Before selling the product, kashmiri artists explain their artwork to customers in such a manner that he believes in their quality and buy the product.
• The customer believes in their quality and buys the product.

Golden Statement

Quality means doing it right when no one is looking.

8. AAAFTD

AAAFTD means Always ask for the order it means you would not get an order from the customer until you ask

For Example:

1. You have to behave like a life insurance person while asking for an order.

2. They ask their relatives again and again for the order.

3. Similarly you should always ask for an order from your customer.

This approach is called the calculator close approach.

During the conversation you start calculating the value pf the product.

During communication a salesman starts calculating and tells the customer that he will get a product worth Rs 100000 for RS 78000.

9. 3Vs approach

The 3Vs of this approach are Verbal visual and vocal communication with your customer. you communicate 7% verbal 55% visual and 38% vocal.

Golden Statement

Good communication is the bridge between confusion and clarity.

During verbal communication you need to take care of words speech language and content.

You need to focus of your volume tone pitch inflection voice quality modulation rate of the pitch inflection voice quality modulation rate of the pitch while local communication.

Visual communication involves body language posture facial expression, proximity, appearance and eye contact.

• For Example?:
• While taking on the phone you are not visual rather you are only vocal.
• So your tone is very important to sell your product.
• Here 84% is your tone and 16% is your verbal

To sum up it can be as follows:

• Verbal: It is not just what we say.
• Vocal: It is how we say.
• Visual: How do we look when we say it

10. WIIFM

WIIFM- What is in it for me?

You should make a customer vision sheet.

This is also NICE analysis wherein:

• N?Stand for need.
• I?stands for interest
• C?stands for expectation
• E?stand for expectation

Golden Statement

Make it about them. Not make it about me.

11. My name is sweeter to me than honey.

Everyone likes to be called by their names, You should call the customer by name.

Sharma ji aaiye aayie to this strategy.

For Example

.1. Mr Sharma is going to buy a product for some other shop

.2. He will switch to your shop of you start calling Sharma Ji aayie aayie.

3. He will become your permanent customer because you give him respect.

4. So the human aspect is very important and people like to hear their names.

You Should write names on the email also. It is like a litmus test that is useful for you.

2nd Example

1. If you visit a showroom after a long time and the showroom owner still recalls your name, you will feel delighted.

2. So, you should focus on building relationship not transactions.

3. This is also known as the Relationship sales model.

4. Salesperson and buyer get to know each other better at a personal level than a professional level.

5. When a Salesperson knows the customer at a personal level not much efforts are required at the professional level.

6. Sales happen in a smooth way.

12. AIDA sales technique

1. AIDA is also known as the Elevator pitch sales technique.

2. You Should explain your point on 1 minute in such a way that the product is sold.

3. This is also called Impluse marketing In other words , raise the pulse and close the deal.

For Example:

1. In Big bazaar there are some items at the billing counter.

2. While in the billing line people pick some more items from this counter and buy it.

3. So customer decides to buy the product within 60 seconds.

AIDA stands for attention, interest, desire, and action. You need to seek the attention of the other person. Generate his interest and desire so that he take immediate action.

1. You can also use headlines such as:

2. Uber We help individuals get from A to Z with a simple ride – sharing app.

3. Amazon We help people buy and sell things online.

4. Facebook We help individuals stay connect and share their experience online.

5. You need to keep in mind the following points.

• Be an attention catcher
• Generate curiosity
• Build trust
• Value creation
• You can use role plays, create and watch your video, self internalise for an elevator pitch.

Golden Statement

Words may inspire but only action creates changes.

13. SILY hypnotism

1. S refers to the story, I refer to instant, L refer to laugher and Y refers to yes.

2. Before making sales, you can start with an unusual story that makes other people smile.

3. You can end the story by cracking a small joke that make the customer smile.

4. This will divert his attention because he will feel that you are like a friend to him.

Golden Statement

Say something that confuses the other person and also it brings a smile on him. if you can not convince immediately just confuse them for some time.

When the customer laughs his tension will be released and he will feel relaxed.

First you can crack a joke with your customer and then focus on your 5 Y means 5 times yes. When he says 5 times yes to the sixth time about your product. It happens because he developed the habit of saying yes 5 times.

14. Middle one approach

1. In this approach you do not need to show the actual product that you want to sell.

2. You have to show some other product to your customers such as an expensive product and cheap product.

3. You can say This is our star selling product that is near to most expensive products but it is very popular in sales.

4. The customer will feel neither you are selling him a very expensive product nor you are selling him low quality products.

5. Now he will trust you because he feel you are selling him the recommended product.

6. Therefore you sold the product that you wanted to sell.

7. But you showed the other two products in such manner that it made it easier for you in selling the product.

Golden Statement

The difference between a successful and unsuccessful person lies in the will word power, not the knowledge or power.

So you should develop will power because success does not comes from knowledge or power. rather it comes from your will power. Sales closing technique is such an important subject that 70% of sales professionals believe that will power help in converting the sales. people do not like someone force them to buy the product. they like to buy by themselves.

You should do something that people buy your product automatically.

15. Conditional negotiation

1. Conditional negotiation involves a condition for negotiation.

2. It is also known as impulse negotiation that means raise the pulse and close the deal.

3. Do not exploit the other person rather keep a win win condition in front of him.

4. It is also called if I will you? sale close approach.

5. You can give an additional discount to the person that was not included in the offer and ask him to close the product

For Example

* You can offer the customer a product worth Rs 10000 for Rs 8000 if he closes the deal immediately.

* So you are offering him a product at Rs 2000 lower than the market price.

* He will feel that your deal is profitable for him.

* Therefore you have to put such a condition in front of him that is a weak point of the customer and he takes the decision

* You can use conditions such as I commit to deliver extra if you buy now.

* If you want to win negotiation the basic rule is that you should be willing to walk away is by actually walking away.

* Sometimes you need to walk away to create a little fear in the mind of the customer.

• 16. Rapport Building

Rapport building is very important for sale. There are many model of rapport building such as NLP ( Neuro- linguistic programming) that including following:

Pacing -leading:

• You need to create a peace with your customer.

Mirroring -matching:

1. You need to match your face expression with your customer.

2. If he is smiling you can also smile.

Parroting -paraphrasing:

1, You need to repeat the point of customer like a parrot or you can paraphrase in your own words.

2. If customer say I am in problem you can say I understand your problem.

3. When you repeat his words he will feel that you understand him.

4. It help in building trust.

5. Do not inform the customer while repeating rather you need to involve him.

6. Give him genuine compliments because everyone like receiving compliments.

Do not celebrate closing a sale, celebrating opening a relationship.

Sales are nothing but nurturing relationships.

17: Insights and discovery questions

You should ask questions that create insight into the other person. You can use the following models in this regard:

SPIN model

S– Situation: You should ask the situation of another person.

P– Problem: Understand his problem.

I- Implication: Ask him about the implication if this problem.

N-?Need: Ask him about his need in form of your product.

• ARC model:

A: Ask

R:?Recommend

C:?Close

First you should ask the customers requirements. recommend the product. and finally sell your product.

PAS Framework:

• P:?Problem
• A: Agitation
• S: Solution

First you need to understand the problem understand the agitation that can be created out of this problem. You should create an agitation by explaining negative implication of financial loss if the customer does not buy your product.

Then you should give the solution in form of your product. You can ask solution oriented questions such as where you are at present, where you want to go how will you go.

GROW model

• G( Goal): You should know the goal of your customer.
• R( Reality): You have to ask him, where he is at present.
• O(Options): You need to discuss all the options for the product.
• W( Way): You need to show him your product.

CROPA model

• C?( Current): You have to find the current reality
• R?(Reality): You have to find the current problem faced by the customer
• O?(Outcome expected): You need to make him establish his purpose.
• P?( Purpose): You need to make him establish his purpose.
• A?( Action): You need to give him an action plan by showing him your product. This product will help him in achieving his goal/outcome.

This is known as consultative selling where you do not sell your products, rather you sell the outcome.

18. Trust Signal

Trust is the most important reason due to which a product is sold. When you build trust, selling products will become easier for you. Trust and speed are directly proportionate to each other.

So if you build trust your decision making speed regarding sales will also increase. The customer trusts a company, person or product. Now you have to decide if you want to increase trust in which of the following these three factors. You need to strengthen your communication with the help of think model as follows:

• T:?True ( Be honest with your customer while communicating)
• H:?Helpful( Be helpful towards your customers)
• I:?Inspiring ( Inspire your customer)
• N: Necessary ( Create a necessity for him)
• K:?Kind ( Be kind)

A good salesman builds such trust and reliability that buyer convince him to sell his product to him.

Golden statement

Trust start with truth, ends with truth

19. Puppy dog approach

This approach involves a product demo. You need to give your product to the customer so that his attachment towards your product increases.

For Example:

• When a customer visits a puppy shop the shopkeeper handovers the puppy to the customer.
• He loves with the puppy.
• As a result the customer becomes ready to buy the puppy even at a higher price.

Golden Statement:

Give the prospect a chance to feel in love with it.

For Example:

• Sellers provide a test drive of their expensive cars to customers.
• When customer goes for a test drive, he enjoy it and buys the car.
• This happens because customer gets attached to the car.
• Therefore live demonstration is better than explanation.

Golden Statement

A mediocre person tells, a good person explains but an extra ordinary person demonstrates.

20. Now or never close approach

In this approach you need to give extra benefits but for a limited period. This approach is also called the scarcity approach because the person feels he has to buy the product. After all benefit time is limited.

For Example:

• Home shop 18 use pressure sales technique.
• They create pressure by saving buy now otherwise product will not be available or nothing is left or this product offer is for private club members.
• Now, the customer comes under pressure and buys the product.

All these 20 strategies are very important for you business and network marketing.