Published on June 12th, 2021 | by Ryan Chute0
How to Close a Sale (17 Sales Closing Techniques)
Closing the sale is the most important part of the sales pitch. The entire sales process boils down to whether or not you can sell to close. Here are 17 of the most successful closing techniques you can use in a variety of sales situations.
What are Closing Techniques?
When you need to seal the deal during your sales pitch, you will use a closing technique. The entire sales process leads to the close. Therefore, in order to get it right, you should use a closing technique.
Closing techniques help make those final stages a little more manageable. Closing a deal requires a good deal of finesse. These techniques provide the structure needed to bring your pitch to its profitable conclusion.
Some types of closing techniques include:
- Traditional Sales Closing Techniques
- Modern Sale Closing Techniques
- Sales Pitch Closing Techniques
Traditional Sales Closing Techniques
Salespeople have been using these classic closing techniques for years. Their simplicity leans in to their success, since most sales agents can get a good grasp of them quickly. Getting familiar with these three traditional techniques could help your sales reps set the foundation for more complicated methods.
This technique takes all of the previously mentioned selling points and puts them out on the table. The salesperson will go over all the benefits once again in a final attempt to persuade the customer. Instead of explaining the value and benefits again, the salesperson simply reiterates them. You should focus on what the customer already likes from your initial pitch and explanation.
After painting a strong picture of the product or service’s benefits, go right in for the final close.
Sharp Angle Close
Many prospects will try to sweeten the deal as much as they can towards the end with closing questions. This includes asking for extra perks and, in many cases, some sort of discount. So long as salespeople have permission from their managers, they can make good on these requests. However, they can also use these requests to open the way for a sale.
For example, a customer might ask for a discount of some sort. Expect this type of request, and then lean into it by saying you can deliver so long as the customer signs today.
Now or Never Close
Everyone has a little fear of missing out. This technique capitalizes on it by offering a benefit that requires immediate action to obtain. These include phases such as:
- “We offer 15 percent off today only”
- “We only have a few left”
- “Closing now will get you the product faster”
When implementing a now or never close after demonstrating value, the prospect feels urged to make a purchase. Otherwise they might lose out on the benefits you just explained.
Modern Sales Closing Techniques
These sales techniques provide a broader range for modern sales teams. Here are 11 of the best techniques that will improve your sales skills.
When you speak as if your prospect already owns the product, they visualize themself with it. You can use the ownership close simply by stating that the product belongs to the prospect. Car salesmen use this often, saying things like “your car.” Now that the customer sees themself with the product, they also picture all the benefits you already mentioned. Keep stating the value of your product and service and how it will change the prospect’s life for the better.
Something for Nothing Close
Treating your prospects right usually means they treat you right in return. By offering some sort of free benefit or add on, the customer feels obligated to return the favor. That means they will usually buy the product you want to sell them on.
Whatever freebie you give your prospects should have value in their eyes. However, this value should not exceed the revenue from a potential sale. You want to tow the line where you offer them something they want without mitigating the sale.
Many customers might have unspoken reservations by the time you are ready to close. In order to keep these hidden objections from ruining the sale, bring them to the front of your attention. Directly ask your prospect if they have any objections at the end of your pitch. This gives you the opportunity to handle these objections directly and without hesitation.
Once you know where your customer lacks confidence, you can go about reassuring them. You can also use these objections on later sales and integrate them into your pitch earlier.
Ben Franklin Close
You can learn a lot from the founding fathers. Ben Franklin made a list of the pros and cons of the situation whenever he felt indecisive. You can use the same technique when you go in for the close.
Listing the pros and cons of your product helps prospects visualize the benefits a little more clearly. They will often see that the pros outweigh the cons. Plus, you can demonstrate ways to overcome the negatives such as your customer support network.
The “Best Time to” Close
Whenever a triggering event occurs for a prospect, you can capitalize on it during your pitch. For instance, you might ask whether or not a situation has occurred. These might include “did the competition recently upgrade?” From here you explain how your product will help the prospect overcome this recent development.
Keeping your pitch tied into the current happenings of the prospect’s life sweetens the deal.
Using some sort of visual aid during your closing remarks works wonders. People can process imagery faster than words. Therefore, showing a video of the product in action or a chart of the results makes the benefits clear.
Empathizing with your customer helps build a strong working relationship that will last. Sometimes pressure does nothing to help that relationship grow. Instead, keep the customers best interest in mind when going for the close. If they obviously need more time, give it to them.
By explaining all the effort that goes into the product, prospects appreciate it more. So do not be afraid to explain all the hard work your company exerted in development and testing. Plus, prospects like to peek behind the scenes every now and then.
Opportunity Cost Close
Opportunity cost refers to the cost of not doing something. You can bring this idea out when you paint your product as an investment, not an expense. By explaining the benefits in this manner, you show the prospect that they keep losing out the longer they wait.
Not every prospect will want to close by the time you get to your closing remarks. As the sales rep you want to get the deal closed as fast as you can. However, you do not want to push a prospect into a sale or else you risk ruining the deal. When a prospect needs more time but you need to operate on a time table, use a calendar close.
Set a date in the future for another meeting to discuss the sale. You can set the date at a convenient time for both of you. However, do not let too much time pass between the meetings. Capitalizing on the prospect’s interest sooner increases your odds of success.
Sometimes you need a direct reading on your prospect’s interest in order to adapt your sales pitch. By utilizing the thermometer close, you take the prospects temperature by asking them their likeness to buy. Use a scale of one to ten to get easily interpreted results.
Customers will give you their reading and then you can ask why it is not at a ten. From there you can handle their objections.
Sales Pitch Closing Techniques
These techniques take a little more time and effort to master than some of the other methods on our list. However, with patience and the right attitude you can master them and see their immense benefits.
The Columbo Close
Based on the titular character from the television show Columbo, you can employ this technique when all hope seems lost. Right at the end, once a customer seems to have lost interest, hit them with “one more thing.” And then jump into the most important part of your pitch.
The Puppy Dog Close
Just like no one can resist buying a puppy when they take it home, prospects become customers after a test-drive. If you can let them take the product home for a trial, customers will see the benefits in action.
The Backwards Close
Sometimes you can start the sales process with the very last step: asking for a referral. When you approach a prospect without directly trying to sell them something you open them up to your pitch. From there you can go into the benefits and continue your pitch as usual.
Now that you know all best techniques to close a deal, check out technofaq.org for more marketing news.