Sales Closing Techniques

Sales as a business operation are crucial for a business’s very existence. The sales department of a business employs different tactics to turn a prospective customer into a client. Read on to learn about some of those techniques.

Table of Contents for Sales Closing Techniques

1. An Assumptive Close
2. Selling The Rights To Your Solution
3: The “Puppy Dog” Close
4. Now Or It Closes
5. Posing Unimportant Inquiries
6. Take Away Close

An Introduction to Sales Closing Techniques

A sales closing technique is a strategy used to persuade prospects to become clients. Sales closing strategies aim to make the transition from product pitch to order request as easy as possible for the salesperson. Reps meet their quotas by closing sales, convincing a prospect to accept a deal, and signing a contract. This is also how firms increase their revenue. In sales, the closing can make or break a deal. It’s important to pick the appropriate words to close a sale. And this point will probably determine whether or not your efforts will be worthwhile in the end.

It stands for the reward of all your labours. You invested the time and effort necessary to convince the prospect that your solution can ease their problems. It takes a lot of perseverance and patience to close the sale. Prospects frequently respond with no before responding with yes. The issue is that many salespeople give up before getting that affirmative response.

They’re a way to effortlessly include the close into your presentation, giving you the best chance of achieving the intended outcome after the meeting – without having to use too pushy tactics that run the danger of derailing a business relationship before it’s even begun.

Most Common Sales Closing Techniques

1. An Assumptive Close

This real power move necessitates self-assurance in both you and your offering. You proceed with the assumptive close, assuming that the prospect wants to buy and that the deal is nearly complete. You will enquire as to how many products they would like or when the solution may be put into effect rather than whether they are prepared to make a purchase. The goal in this situation is to be firm without appearing pushy, which might damage the relationship and turn off the prospect. Additionally, it’s crucial to time the assumptive close such that it occurs just after you’ve emphasized the advantages of your offer to keep the prospect’s memory of its current.

2. Selling The Rights To Your Solution

Salespeople occasionally need to be creative. To sell a notion, they must create a vivid image (not just the product) in the minds of potential customers. If you can do this, you might be able to help leads picture themselves using your product and see how it helps their company.

Therefore, try asking, “What would you do with the 25% boost in revenue from using our product?”

Encourage them to discuss your answer as if it were their own. You might then attempt to persuade them to buy.

Another approach to employing this sales strategy is to use gripping tales about attaining objectives, outpacing rivals, and streamlining growth.

3: The “Puppy Dog” Close

In his best-selling book, The Four-Hour Workweek, Tim Ferriss mentioned this ending strategy, which attracted much attention. Its basic principle is to offer well-qualified leads the chance to try anything out in the hopes that once they see its value, they won’t want to return it.

You may have observed this tactic in a pet store, where prospective pet owners are urged to take animals home for the weekend and return them if things don’t work out.

After spending several days getting to know your new friend, would you accept that offer? Generally speaking, no.

With one word of caution: you must be confident that you can demonstrate value in a very condensed amount of time. This strategy can be used to increase sales of any good or service. This one is not for you, for example, if you sell a complicated SaaS solution with a month-long onboarding procedure.

4. Now Or It Closes

Salespeople present a deal with a unique perk to spur a quick purchase. For instance:

• “Customers that join up today will receive a 20% discount.”
• “If you agree to purchase right away, I can move you up to the head of the implementation line.”
• “The last one at this pricing is this.”

This tactic is effective because it instils a sense of urgency and can assist a prospect overcome inertia when they are ready to buy but, for some reason, aren’t purchasing. It’s also a tried-and-true technique for making a sale over the phone because you have their full focus at the moment. Of course, before providing a discount or promotion, the value should always be established.

5. Posing Unimportant Inquiries

Low-impact inquiries are perceived as being softer and less aggressive. This may be effective if you speak to a new lead with whom you haven’t yet established rapport. The objective is to demonstrate the advantages of your product before posing a query to ascertain their interest in learning more.

You might inquire, for instance, “Would it correspond with your company’s goals if I could cut the time spent on lead handling by 35% and improve database accuracy by 20%?”

If the response is positive, take advantage of the opportunity to highlight the benefits of your good or service. The goal is to encourage the lead to talk further without feeling pressured to make a decision right now.

6. Take Away Close

There is still another helpful psychological technique to close sales successfully. Introducing appealing aspects and then offering to reject them in favour of something else, possibly more intriguing, is how the process works. The end consequence is that the customers continue purchasing the product because they don’t want to let go of what they almost had. There is one more psychological effect that goes along with the phenomena.

People enjoy following fashion trends. Therefore, all you need to do to attract potential clients is to convince them that your brand is well-known. Then just propose changing it or ignoring it. In truth, based on your particular circumstances, there are several ways to close deals and other sales closing approaches (e.g., the rebound close, the alternative close, and so on).

Conclusion

A corroded sales pipeline moves slowly and is ineffective. You may boost performance and increase sales by using the proper sales closing techniques. With the help of this collection of sales strategies, create some test campaigns. Keep note of the strategies that are effective for certain customers. A trend may connect particular strategies to particular circumstances, sectors, and demographics. You’ll become more adept at deciding which path to take in each sales encounter over time. The Executive Program in Strategic Sales Management by IIM Indore and Jigsaw is one of the most industry-relevant robust program designed to aid aspiring Sales Strategists master the latest sales techniques and become ready for digitally driven consumers. Explore the curriculum today, enroll and become a master at closing techniques.