Why we love closing... (and you should too!)
In recent blogs we spoke about motivation, networking, business development strategies and much more.
Now it’s time for us to focus on that all-important aspect of the sales process and customer journey… the close.
Context
I am privileged to work to with businesses of various sizes and when it comes to the subject of closing we discuss all sorts of perfectly valid questions including:
“What is the best way to close a deal?”
“How do I close a sale?”
“What tactics or techniques should I use?”,
“How soon should I go for a close?”
“How do I find the confidence to close without being pushy?”
Do this sound familiar?
Before we get into the nitty gritty, let’s just rewind a little.
Remember, sales, in its simplest form, is a conversation between two parties where reciprocal value
based on long-term trust and offer can be agreed. Nothing more, nothing less.
In theory, there are many ways in which we can close a sale, but caution needs to be taken as to
the type of close that is relevant based on your customers journey, buying habits and spend.
While I’m a big believer in the saying Keep It Simple Stupid (KISS), failure to observe the appropriate close could result in damaged relationships and perhaps a missed sale.
What we are going to look at here are a selection of closing strategies, but as a business owner or sales professional, remember to apply both your intrapersonal and interpersonal judgement skills.
Types of closing
There are a whole host of closing concepts, but when in conversation with a prospect the adage of Always Be Closing (ABC) should be in your mind. I’m not necessarily talking about asking for a PO Number on the first meeting/call, but we need to be ready to pull the trigger once we’ve built up healthy relationships and value. In fact, once you've sustainably built up the trust etc... the close should in theory just be a mere formality.
We are operating in 2018 and buying habits/expectations continue to shift frequently. Today’s customers, on the whole, prefer a consultative sell that’s packed with value. There are many views and opinions around closing, such as changing the prospects mindset by getting them to say “yes” to non-close related statements before you go for the close.
As I have stated, I am a believer in keeping things simple but effective, so here are five suggestions to have in your mind when thinking about closing and to keep momentum going during the prospect journey.
1) Follow-up meeting
2) Technical demonstration
3) Site visit
4) Request next steps, timeline and expectations
5) Deal
Direct types of closing
I would use direct closing with caution, because trust can be easily shaken by gimmicks or shallow gestures, but given the appropriate situation the below closes can return solid results.
1) Limited time only offer
2) Limited availability
3) Keep pushing i.e “what can I do change your mind?”
4) “I’m in your area next Tuesday and Wednesday, which day works for you?”
5) Discount
Mindset
For those of you who are new to Impact Sales Coaching, we believe that a strong, healthy
and peak state mindset is critical.
Using mindset in the context of the sales close, you should have in your mind that you've spent time
building relationships and refining your offer, so in return you are actually entitled to use some sort of close.
Indeed, in some instances your prospect may be waiting for your close and failure to do so will
not only risk a sale, but leave the prospect questioning your service/product confidence.
Who will gain from all your proactivity…?
Your competitor, who is just as hungry as you are to close that deal.
You’re amazing at what you do, so don’t forget to pull the trigger!
Thank you for reading...
I hope you have found the above useful and will begin to start feeling confident with closing or trying out new forms of prospect commitment. I am running a poll on Twitter asking what you'd like me to write for our next blog. Head over to @impactsalesltd to have your say or suggest alternative content. Look forward to hearing from you.