We all know that a sale is not made until someone agrees in writing or sends you a check. Sadly, a salesperson can easily miss out on many potential sales by using a poor closing technique(s). In fact, research has proven that pressuring a buyer is one of the most common sales methods that result in losing a potential buyer. The good news is this: The proper training of closing methods can and will help a salesperson change their bad habits.
We have put together a list of six closing tips that actually work. Read them and find two or three you can use in the next week.
6 Ways To Close A Sale Are:
1. Alternative Close - When a number of options exist and your prospect is giving no indication as to which option they might choose, you may want to consider the "Alternative Close." You might say, "Given the four options we have discussed, can I ask which option you would like to use?" The response to this question can be very revealing but more importantly, it allows a salesperson to focus the conversation on the prospect's area of interest.
2. Caution Close - You can point out the dangers of the prospect delaying their decision. For example, they would miss out on a promotion or lag behind the competition. How about the risk of paying a higher price in the future, etc. An example of this is: "Yes, I understand you have to check your representative's availability on the dates in question; however, our _________is very popular, in fact it has sold-out a few times. What I would suggest is for you to sign-up for the _______ so you are guaranteed a seat; you can always confirm later." This is a better option than walking away believing the sale is final when in fact it is not.
3. Summary Close - The "Summary Close" is a useful technique when talking to a prospect on the phone. You simply recap the key points discussed and bring them together in a summary format as if wrapping things up. It is important that you do this rather than the prospect; otherwise, the prospect may use this to end the conversation before you can close the deal.
4. Verbal Proof Close - Recommendations have and will always be a very powerful selling tool. By you mentioning someone who is well-known and respected that has bought from you could be enough to persuade the buyer to buy from you (make sure you talk with the person or company you mention so you are covered on the back-end). A "Verbal Proof Close" will sound something like, "Yes, I understand the ________ is new to the market; however, I would like to mention that X Company initially had the same concerns. And since they used _____ (type of product or service) three months ago, their ______ manager, _____, has recently informed me that _______ levels have increased by approximately ______%. I see no reason why we cannot achieve the same results for your company based on what you told me."
5. Concession Close - This close is used when price arises several times during the conversation as the biggest barrier to concluding the transaction. A concession does not always mean compromising on price. You may be able to entice a hesitant buyer with extended credit terms, extra personal service, quantity discounts, free delivery, etc. The key is to not make the mistake of giving away your concessions too early in the discussion; keep them until you feel they will have the most impact and make it attractive enough for the customer to act sooner rather than later.
6. Trial Close - A "Trial Close" offers you the opportunity to test the sincerity of the customer by putting the buying signals you have received 'on trial.' Avoid answering the customer's questions with a 'yes' or 'no' answer. Instead, respond with: "Yes, we have availability on our _____. Would you like to ________ now or on _____________?" By asking this question, you can effectively judge the customer's intentions and readiness to buy.
Summary: As a prospect gets closer to actually buying, a salesperson can make or break a sale depending on the closing techniques used. It is important to create a sense of urgency while maintaining a low-pressure way to ask for a commitment from the buyer. Do not be afraid to use more than one closing technique. As with anything, your closing methods will get better with practice and there is always room for improvement upon existing strategies.
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