6 fantastic Sales Closing Techniques that every hustler must use and know of — Productivity Revolution
As an ex-VC and 2X digital entrepreneur, effectively the past 5 years of my entrepreneurial journey have been about one key aspect — Hustle !!
Sharing 6 key tried and tested sales closing techniques which I’ve found to work wonders in our Business development process for the past few years.
1. The Adjournment Close:
This is for when you cannot close the deal immediately or in that single meeting. Take a pause.
When to use:
- When the prospect has been overdosed with information and a feeling of urgency but he /she doesn’t seem like an impulsive decision maker.
- The client relationship is important to you (Bigger game at stake)
- When a sales executive feels that the prospect is unlikely to make a decision in the current meeting or time-frame.
What you must do:
Tell prospects they should take a few hours/day(s) to think over it so they don’t feel pushed into taking a decision
Politely but firmly say something like “I understand you’re processing all of the information I just gave you and need time to think over it with a calm mind again. Why don’t we talk about this day after at your office same time?”
Don’t forget to setup a meeting time (not just a meeting date) to make it more concrete.
2. The “Delighter” Close:
This you do when you want to get some free WOMM or delight the customer even when prospects appear quite near a close. This plays on the psychology of the person and makes them feel inclined to close more and bigger in exchange.
When to use:
- When you want to invest in a relationship between the person or company
- When you feel the person is an influencer and positive WOMM would may come out of it.
What you must do:
Say something like” Hey, while we have discussed so much on the deal, let me do one thing more because I like you guys/ today is a really great day for me. I will give you XYZ (incentive) at no charge.
3. The Concession Close:
This is what you offer when the client looks inclined to buy but is having a hitch about some minor issue.
When to use:
- When the immediate gain is more than the cost of perceived loss with the minor pain area.
- When you want to invest in a relationship between the person or company
- When you’re looking to quickly scale up and have a low cost to entry
What you must do:
Say something like — “ Why don’t I give you 10 % off this deal so that you can first try and see for yourself the value it will bring in” or “Why don’t I give you a free bottle of fresh juice with your home delivery so you can try and see if you like it or not”
4. The Trial close:
The most common closing style of sales executive globally. Its when you test and tease the client to get an idea of their inclination to buy. It plays heavy on the word “If”
When to use:
- When you want to make the client envision life after he/she has made the decision
- When you want to invest in a relationship between the person or company
What you must do:
Say something like — “ Hey Amanda looks like you really like this house. It would be really great place to sit with a book and relax in this balcony. ”
Its important to note the body language to play and adapt to the cues in this style
5. The Comparison Close:
When you want to nudge the prospect into taking a decision and throw in a bit of peer pressure. It derives upon the human psychology of wanting to appear smart and be associated with smart people.
When to use:
- When the client appears to exhibit adherence to social and societal swings/styles
- When a client looks or speaks about not being stupid
What you must do:
Say something like — “ One of our consumers who is a leading physician swears by it. ” or “ You give me the impression of being handling complex things easily , so this should feel like a cake -walk to you”
6. Now or never close:
This is probably the second most exploited style of closing
The sales executive must develop a sense of urgency to close the deal. Give the prospect a time bound deal post which the terms of the deal change.
When to use:
- When the client appears to be impulsive
- When a prospect you’re talking to is the decision maker
What you must do:
Say something like — “ Hey I have sales deadline quota to meet today so I will give you 20% off if you buy the product until today evening ” or “ We had ten products on coupon sale, nine are gone and last one left. Unfortunately, coupons expire by noon today”
Conclusion:
Well, like I said earlier, these 6 sales closing techniques are not the only ones but as a sales superstar you will find great value and insight through these. Sales is a highly fluid and intuitive process and you have to adapt to changing moods within a fraction of a second. You have to always know how to engage with sales leads and prospects effectively.
My dear sales stars, understand human psychology first, be very observant, choose your technique for the meeting based on observing the prospect and keep hustling !!
Originally published at blog.alore.io on February 23, 2018.
