How To Close A Sale: 11 Highly Effective Tips
There are very few things in life as euphoric as successfully closing a sale. The thrill and adrenaline rush of coming to the end of the sales process with a new client signed, or quota met or exceeded, is nothing short of exhilarating. How to close a sale is the line of distinction between good sales professionals and exceptional sales professionals.
For entrepreneurs who often hold multiple positions in their start-up, perfecting the art of the sale is vital to success in the initial stages of the business.
While many are born with the natural inclination to persuade, others must make extra effort to learn and exert best sales practises.
Whether you’re born with the innate ability to sell, or you have taken the time to arm yourself with expert sales skills, it never hurts to have an arsenal of efficient sales closing tips.
But before you can even get to that happy place of leads turning into customers, you have to ace the perfect sales pitch. Your sales pitch, when done correctly, creates a solid foundation for your strategy to move your client through the sales funnel.
What is a Sales Pitch?
A sales pitch is a highly concentrated sales presentation where the seller concisely explains the product or service offering. The pitch is continued by highlighting the advantages of choosing them as the ideal option to solve your problem or fill your need.
Ideally, a sales pitch is completed in under two minutes. Because of this, a salesperson must be able to give the best product information without sounding rushed, build rapport with the client and strike up engagement that will catalyse the whole sales process. The phrase “first impressions are lasting” is epitomised in a sales pitch.
Timing is a significant factor in sales pitches. Most sales pitches are most commonly referred to as ‘elevator pitches’, as they should be executed in the timeframe of a single elevator ride. A sales pitch hinges on getting all the proper selling points out to secure a more captive audience, ready to hear a longer spiel later. A sales pitch is the first engagement with a lead or prospective client, and doesn’t have room for error. One wrong slip and the sale opportunity ends before it even gets a chance to begin.
Yes, the pressure is on, and the expectations are high. There is a reason that for more than 40% of salespeople, the pitch is the most challenging part of the sales process, followed closely by closing (36%) and qualifying (22%). Prospecting clients, like most things in life, isn’t easy. However, Success, Wealth, and Business Mentor Ron Malhotra says it best – “You won’t know your limits unless you push yourself.”
11 Tips on Closing a Sale
There is no one way or predetermined method to close a sale. But as mentioned, closing a sale is an art or a skill. While trends will change and improve, there are a few tried and true foundational tips that get the job done on their own, or in conjunction with other methods.
Here are 11 highly effective sales closing techniques:
1. Be Real/Authentic
Tonality carries across all communication cables whether over the phone, text, or in-person. Most importantly, clients can sense a mile away if you are being inauthentic during the sales process. No one wants to buy from a person they don’t trust.
One of the vital factors to closing a sale is conveying to your customers that you care about solving their problems. The quickest way to lose a sale is when a client thinks you’re only focused on closing a deal. Customers must be convinced you value their business.
Many sales people make the mistake of being so prepared that they come off as calculated and disingenuous. Both of these are immediate turn offs and can signal the death of a sale.
Another component of being authentic is leveraging the power of human emotions. Never forget that people like to feel connected, like they are not alone. By inserting genuine emotions, you will convince the customer you’re not just selling, but providing them a gift that will positively impact their lives.
Also Read: How to Write a Winning Sales Pitch – Client Closing Techniques
2. Create a Sense of Urgency
A traditional sales closing strategy is the act of creating a sense of urgency. By creating an ‘impending deadline’, you play upon the human fear of missing out. Attach a coming deadline to persuade your prospect to commit and complete the sale. However, this sales closing tip must be approached subtly, as it stands the chance of backfiring. Yes, you want to create urgency, but you also don’t want the customer to feel as if they are being rushed or pressured.
However, if your client, for whatever reason, doesn’t feel compelled to take immediate action, no amount of urgency may convince them. You may need to provide them with more information to convince them to move forward with the sale.
3. Temporary Incentive
If after creating urgency your prospect still doesn’t feel compelled to close the sale, a temporary incentive could do the job. While a customer is on the fence, create a ‘now or never’ incentive.
This could take the form of a gift or a discount. This also allows customers to feel empowered in the sales process. Ensure customers know that the incentive is entirely temporary, and that they will lose the opportunity to receive it by not purchasing today.
This sales closing approach must be approached with caution, as it can easily be viewed as a high-pressure sales technique, which can turn off a client.
4. Know Your Audience
This stands as one of the most crucial steps in the whole sales funnel, especially when it comes to closing. Whether you’re selling to another business or your customer base, you need to take the time to get to know your audience.
Do proper research. With information so easily accessible, don’t hesitate to learn about your target audience based on your product or service. All your best-laid plans will amount to nothing if you aren’t selling to the right audience. You will rarely have a closed sale if the person you’re attempting to peddle your wares to, isn’t your ideal customer.
5. Know Your Competition
This is crucial for the business, but you need to know your competitors because most likely, your customers know you. A great way to guarantee you close more sales is by ensuring you are well versed in your competitor’s offerings. In doing so, you can have the perfect counter proposition ready. Customers will not fail to mention another product or service with which you share industry space, and it’s up to you to be prepared to counter. Being caught blindsided is awkward and uncomfortable for both salesperson and client.
This leads to the next sales closing strategy.
6. Know Your Product
Even more uncomfortable than not knowing your competition, is not knowing your product. If you intend to close sales, then what you are selling should come as second nature. Be prepared to explain it in a myriad of ways as often as the customer requires an explanation. Always be consistent with your product knowledge.
7. Overcome Objections
Objections are a natural part of the sales policy, and they aren’t limited to just competitor comparisons. Objections can vary, and are as unique as your clients presenting them. No one expects you to have a prepared response for every possible objection. However, a quick brainstorming session where you put yourself in the customer’s shoes, could allow you to voice and create the best response for standard and frequent objections. Ensure you don’t ever sound as if you are caught off-guard for those objections you cannot foresee. Practice being cool, calm and collected, and focus on formulating a brief yet sufficient response.
8. Identify the Decision Maker
Identifying the decision maker is necessary for entrepreneurs or B2B sales, as you can’t close a deal with the person who isn’t the final purchaser. No matter what industry you are selling in, a quick close is dependent on knowing and connecting with the person who makes the final decision. Very often, decision-makers will send someone else in their place to learn all they can about you or your company. In this case, be sure to put yourself in the mindset of the decision-maker, so that you can tailor your sales pitch and closing to that person’s interests, even if they aren’t present.
9. Assume You’re Going to Make the Sale
This is a seemingly simple, yet highly effective sales closing strategy. By assuming you have already closed the sale, you view prospects as people who will complete the purchase, no matter what.
This method goes a long way in boosting your confidence, which will bolster your overall attitude, and be evident to clients. Confidence in sales is a critical tool to closing. By assuming this mindset, you allow yourself to see unique angles to close.
This is a common sales closing strategy that comes in handy; by asking yourself, “When are they going to buy?” and “Why are they going to buy?” you will discover new ways to secure the sale.
This sales closing tip also allows you to create persuasive lead-ins, for example, “so when can we get you started?” This technique presumes that the person is already going to purchase, and makes the sales closing process relentless, seamless and almost effortless.
Also Read: 7 Mistakes to Avoid During The Closing Remarks of a Speech
10. Let Customers Convince Themselves
Another excellent, subtle and highly effective sales closing technique is utilising leading questions.
Using psychology, you ask pointed questions that unwittingly infiltrate your prospects’ thoughts, to make them gradually believe that your product is the perfect solution for them. Instead of telling them the product is ideal, ask leading questions such as, “So the product has all the features you’re looking for — it’s not missing anything?” and “this fits perfectly into your budget at the current price, right?”
Leading questions frame your product selling points into questions that prompt the buyer to answer the questions reiterating that your product is the solution they need. With this approach, they would be hard-pressed to find a reason not to continue the sale.
11. Don’t Say the Wrong Thing
Stay calm and as they say, don’t put your foot in your mouth. The sure-fire way to not close a sale is to say the wrong thing. Don’t overpower clients, condescend or get aggressive. Listen and speak accordingly. Don’t ever assume. Be personable, be genuine, but most importantly always be professional.
The sales process is often hard work with great rewards, from sales pitches to the highly sought-after close. But more than anything else, sales closing strategies are the bridges that connect customers to a world of products. With this in mind, sales professionals must never underestimate the power of the close.