Closing (Sales Part 4)

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There’s no sugar-coating it, closing the sale is the most important aspect of selling and surviving as a business. It can take years to gain enough experience to close successfully in a variety of scenarios. If you get a ‘no’ don’t walk out. A whopping 82% of prospects say ‘no’ up to four times before saying ‘yes’ so stick with it, things can all turn around in an afternoon. While we all have our favourite ways to close a sale, try not to rely on a couple of methods, there are other approaches you can use for different prospective clients.

Here are some different ways of closing sales and my tips for how to use them successfully in a variety of scenarios:

The Assumptive close

This is based on mutual agreement that both parties know they are going to purchase the goods/service. It all comes down to cost. Body language is key, check everything is open and there are no hidden objections for them to remember and then cancel their order as soon as you walk out the door.

Tip: If you know your customer is a repeat customer, your positivity will rub off on them and it will be as obvious to them as it is to you. Don’t use this when you have no relationship with your customer; assuming at this stage may make you look pretentious.

Summarising

Relax, take your time and summarise all the advantages your product or service would bring to their business. You can use this to make distinctions between the options your selling.

Tip: Hearing the benefits and advantages can seem more impactful than going over them in your sales pitch.

One day only

Usually created on furniture or car sales floors, the ‘now or never’ is a commitment within a period of time mostly (on the day). For example, it’s the last product on the shelf, discount rates are going up, the upcoming new financial year, etc. You’re creating the ‘’when it’s gone. it’s gone’’ scenario.

Tip: This can work with people who were going to buy anyway, a greater discount will get them a better deal. This will not work with people who study deals in great detail. They would rather lose it and research, than committing outright.

The Bundle

This is a common approach now. The more they buy, the greater the discount. The chances are they will by more product than they would have normally.

Tip: The advantages are they may have just got themselves a greater deal, and you will get a repeat order because they would have used it for a long period of time.

Take off added extras

This is the reverse of the bundle, some companies just want the product they are interested in, and will buy ‘no more or no less’.

Tip: Don’t lose a sale by being greedy, they may not have any use for them and/or will not fit into their business so take off the extras, and you can secure the deal. Remember don’t strip the sale back if it’s just down to cost and the customer isn’t objecting to it.

Try it out

Based on the concept that people who try it out, will love it and buy it. By using the product, the benefits you talk about will become more real, and ideally, something they can no longer live without. For example: keep it for one hundred days and send it back, test drive a car, use a free trial, keep a product for a month, and so on.

Close at all costs

This tactic involves you letting them know you are selling to them by asking for firm commitments. This is to enable prospects to sign on the dotted line, setting up implementation and anything else that gets them to sign immediately.

Tip: Its clear why you’re here, this is a business deal and you may sense hesitation from the buyer too. You would want a firm answer and they know they have to give a ‘yes’ or ‘no’. This is best used when your customer is tricky, when you know you will probably get a ‘no’, or when people are as straight as you and know the importance of time is money. Don’t use it if you are in the early stages of the sales call.

Provide options

This sales tactic falls in line with hard or assumptive closes, in that you are offering your prospect a choice between two or more options, hoping that they will choose one rather than saying ‘no’. Offer two pricing plans that suit their needs, tiered levels of service with different features.

Tip: If you give them two options they will quite often choose the cheaper one thinking they are getting a better deal, but remember the cheaper option has to work for them, or you may not get a repeat order.

Selling to a seasoned pro

This can be like entering a lion’s den. The decision maker(s) will know how good you are within the first four seconds you walk in through the door. This leads them to ask for discounts and addons you may not be able to deliver for the price.

Tip: Know your customer! Give them the discount they want, but only if they sign there and then.

The Solution

You have questioned the company and if you have listened hard enough you should know their issues, so offering a solution through a firm statement can work. Providing a solution to their business needs. E.g. ‘we have the shipment leaving the dock on Wednesday which can be with you by the end of the next quarter’.

Tip: You want to appear as more than the average salesperson, someone who genuinely cares about their business. This works well with repeat customers and not always with seasoned pros who know their field better than you.

The After-sale service

This is a vital part of the process. You can lose the next sale if you don’t keep in touch with the customer. Your telesales team can be assigned to individual companies or the list of customers you have as a whole. They should keep in contact with them regularly, and perhaps offer them options on products left behind for bundle close sales.

Tip: If you don’t do this you will leave a gap open for your competitor to walk in and take the next order from you.

There are decades of selling and practice in my series of Sales blogs (Part 1, Part 2, Part 3 and Part 4). I hope they serve you well in your future sales.

If you would like to talk to us about getting to the heart of sales, please contact us on: bgp_team@chester.ac.uk.

Jo Vernon
Business Development Manager