Closing a deal is a make-or-break moment in the sales process, and often the most difficult moment in any deal. Choosing the right phrases that will seal a deal is crucial, as is knowing when is the perfect moment to try to get the final verdict from a prospect.
Near enough, every salesperson feels some form of apprehension about going in for the close. However, without that feeling of risk and nerves, the successful sale wouldn’t be accompanied by the same thrill – which, after all, is why you’re in the business of sales in the first place.
As sales processes have developed through the years, many tried and tested techniques for that crucial close have been nailed down. Here are a few of the more effective to build into your sales team’s process:
1. The Now or Never Close
This is one of the most common, best-recognised tricks in the salesperson’s arsenal. The salesperson makes an offer to the customer that includes a special benefit and prompts an immediate action. For example, “this is the last available product at that price” or “We have a 20% discount for customers that sign up to this service today.”
There’s a reason this technique has proven effective time and again. It creates a sense of urgency and fills the customer with the sense that they’re getting a good deal out of you. However, remember that it’s key to establish value for money before offering any discount or promotion to seal a deal.
2. The Summary Close
This technique relies on the salesperson repeating the items a customer is, hopefully, close to purchasing. This establishes the value and benefits they are about to receive in an effort to encourage them to say ‘Yes.’
Providing a summary of the previously agreed-upon services or products into one package, the salesperson encourages their prospect customer to visualise how good a deal they’re receiving and increases the chances of a deal.
3. The Sharp Angle Close
A prospective customer will often ask for a reduction in price or extra add-ons because they know they often have the upper hand. The more wily customer also knows that every salesperson expects to be bargained with.
However, the experienced salesperson can turn this into a positive and catch their prospective customer by surprise by deploying the sharp angle close technique. So, when the customer asks for their price reduction or additional service, retort with something to the effect of “Sure, we can do that for you, but if we do, will you sign the contract today?” This may surprise the prospect, but it may also enthuse them that you’ve agreed to their request and help get the deal over the line quickly.
4. The Assumptive Close
The best salespeople have the power of positive thinking in buckets. That’s why this relatively modern sales technique is particularly popular with the best of them.
If you believe that you are going to close a deal, all the way from the very first email outreach through all the to-and-fro communication to the latter stages of a sales process, it will have a huge positive effect.
It’s important to monitor the prospect’s interest and engagement levels and take note of their objections then, after a call or meeting, ask them whether the presentation, information provided or service offered aligned with their expectations or sounds like something that would be valuable to their company.
This informed approach will show that you have the customer’s best interest at heart and will suggest that you’re keen to solve their specific pain points or requirements. This will bring authority to your sales process and assure you’re always in a strong position to close the deal.
5. The Soft Close
This approach is another modern technique that’s all about showing your prospective customer the benefit of your product and positions you to close the deal at any point. For example, a soft question like “If I could reduce maintenance levels by 20% and increase productivity levels by 50%” would that be of interest?” is a great way to pique a customer’s interest. If they say yes, then that’s an open door towards closing the deal.
The benefits of your offering are portrayed without going in too hard on the sale, but also gives the salesperson the upper hand in the negotiation. Furthermore, the prospect isn’t being forced to commit immediately, and the salesperson is afforded more time to deepen their knowledge of the business’ needs and requirements and potentially tailor their offering.
Being able to close a deal is a core requirement for any salesperson. But what separates the best from the rest is understanding the right time to pull the trigger and when the customer is ready to buy a product or solution at the right price point. These key closing tactics will help your sales team strengthen their customer service offering and help them close more deals.