For salespersons, the ultimate goal is to close the deal using sales closing techniques. Closing a deal not only helps generate revenue but also improves the business’s market shares. There is a business satisfaction involved when it provides prospects with desired solutions.
While the significance of closing deals has not gone under major changes, the way businesses close deals has certainly evolved. Here is a list of the best closing techniques your sales team can use to solve customers’ real problems.
Sales closing techniques — an overview
Convincing your prospect to sign the deal or say yes to your contract is how your business creates revenue. It is also known as “sales closing” in professional terms. The way you close a deal shows the culmination of your hard work and efforts.
You and your sales team invest your time and dedication in creating a product or service. This works as a solution for prospects and alleviates their pain points.
After presenting the sales proposal to the prospects, determine whether they are ready to buy from you. Fundamentally, closing a successful deal should be one of the easiest parts of the entire sales cycle. This is because there are many key milestones businesses have to hit to close a deal.
If a team meets those milestones well, closing a deal becomes relatively easier. That's because most of the work has already been completed.
Innovative sales closing techniques for your team
The now or never close
The “now or never close,” also known as the “scarcity close,” is an innovative and unique sales technique that combines all closing approaches and creates a sense of urgency in the prospects.
In the scenario of a “scarcity close,” your team has to appeal to the prospect’s “fear of missing out.” It can be anything from soon-to-expire discounted prices or low product inventory.
Whatever is your case, not closing the deal on time may mean your offer will lose its validity. Keep in mind that if your prospect doesn’t show a strong urge or interest in the offering, the approach may backfire, especially if shortage isn’t a problem.
As a business, you must know or be sure that your prospects want to finalize a purchase, and all they need is a push or nudge for deal closing.
The assumptive close
While an “assumptive close” is a popular and effective closing technique for sales, the technique requires 100% confidence that your prospect is willing and ready to make a purchase. The technique is based on your assumption that the sales offer is inevitable.
The “assumptive close” is the kind of deal that is assertive rather than aggressive or overly forceful, which can scare prospects away. You may want to start with a summary to reiterate the terms and advantages of the offer.
Puppy dog close
This is an interesting sales technique that, like the “assumptive close,” requires your complete surety that the prospect will like your product. The “puppy dog close” is an idea in which you let the prospects take the puppy for some time in the hopes that they fall in love with it and will not return it.
In other words, this closing technique is about offering a “free trial” to the prospects with certainty that they will like the product or find it indispensable.
Take away close
This closing sale technique is one of the smartest ways to make a prospect close a deal by capitalizing on the desire of buyers they assume is out of their range. Experts call this technique “reverse psychology” to make people believe that the product or service is a unique opportunity for them to benefit from a service that isn’t usually offered.
Keep in mind that the solution you’re offering might not be a good solution for the prospects. But the sales technique can be effective as you do the opposite of what a traditional salesperson does — “sell.” This is something your prospect doesn’t expect from you.
More like a “scarcity close,” this technique or strategy can work only if your prospects have established interest in the service or product and only need to pull the trigger.
Summary close
As the title suggests, a “summary close” includes an objective summary covering your products’ or services’ best features. It is worth mentioning that sales cycles are long and tedious for B2B sellers.
We say this because in most traditional buying and selling processes, prospects have to juggle conversations with various vendors about different services and products. It can be difficult for them to remember the unique features your service or product offers.
This is when sales techniques like a “summary close” comes into play. This tactic includes an all-encompassing review of the best features and benefits of the product and services you offer. The review should also emphasize how your product can help meet the needs of prospects.
Using certain sales techniques like a “summary close” enables your prospects to envision the product offerings and understand how it meets their individual needs.
Summing up closing techniques
Choosing the right sales tactics is crucial to growing your business. The first step in boosting sales is understanding the needs of your prospects and what unique services or products you can offer them. Each of these sales techniques can significantly help your sales team turn leads into potential customers and increase revenue.
It’s important to understand the various closing techniques and when they should be used. Each tactic has the power to determine whether or not a prospect becomes a future member. When used appropriately, closing techniques can seriously boost the success of your gym.