If you lack the skills to close a sale, your business won’t be open for long. Many entrepreneurs, however, struggle with sales closing techniques. Don’t allow this shortcoming to determine the future and turn this weakness into your biggest strength.
Closing strategies are a hot topic of discussion between salespeople. Many believe their sales practices are the best techniques for sealing the deal, but every single one will elicit a different response when you ask their sales tips. To help your business stay on the right track, we compiled a list of 8 first-rate approaches to close a sale.
8 of the Best Practices to Close More Deals
1. Earn the right to close a sale
Before you can close a sale, ask yourself the following question: “How can I help my customer?” The goal of your product is to satisfy your customer’s needs. Identify their needs and demonstrate how your product/service can help.
2. Show the value of your product or service
While trying to close a sale, remember that you sell a solution. Believe in the product you are selling. If you don’t have faith in your brand and what you deliver, then why should your customer trust you? Explain why your product or service brings the most value to the table. The value is not determined by the market price, but by how satisfactory your product or service is to your client. Your customer must believe that your product is worth their hard-earned money. Present the product’s true worth and close the sale.
3. Deliver on your sales promises
“This product will change your life!” is one of the worst strategies for closing a sale. Over-promising may work for the first sale, but if you’re unable to deliver on your promises, you’ll ultimately lose their business. Not only will you lose their business, but you risk the chance of receiving negative online reviews from unhappy customers. When it comes to closing a sale, honesty is always the best policy.
4. Know your goal
While communicating with your client, do not forget your end goal: closing a sale. Every action should take you one step closer to landing the sale. Put yourself in the ideal situation for closing a sale, otherwise you might find yourself getting side tracked and moving further away from the sale. Stay focused and close the deal.
5. Never put your competition down
Competition is a way of life for any business owner. It’s tempting to put down your competition to secure the sale, but this action will only make your customer more guarded. The prospect might also be considering your competition and may take offense to your off-color remarks. This clash may cost you the deal. Instead of badmouthing your competition, acknowledge they have a solid product as well. However, highlight the strengths of your product and demonstrate how your product can better fit their needs. You’ll appear more likable and honest to your customer.
6. Body language is key
No one trusts a person who can’t look them in the eye. Create eye contact with your customer and communicate clearly what product or service you are selling. Appear approachable to the customer, be positive and keep a smile on your face. The customer will like you and place the order.
7. Have a proposal down in writing
You can deliver the best sales pitch of your life, but you really get the message across by showing your value in writing. A written proposal generates more legitimacy to your product or service. The points on paper also allow your customer to get an overview of your message and their decision. Always have a contract ready, or at the very least, a pen and writing pad handy when trying to close a sale.
8. Ask for the sale
The best technique for closing a sale is to ask for the sale. Many representatives go through the entire sales cycle, but never actually ask for the sale. Afraid to hear “no?” When you are in business, you are bound to hear “no” a few times. Your confidence in your product or service should not let rejection be a deterrent. The aforementioned steps are bound to earn you a sale, so why not ask for one?
You are now closing sales left and right with these phenomenal tips. Time to start invoicing your customers. Some business owners, however, wait anywhere from 30 to 90 days to receive payment from customers but can’t afford to wait for a longer period of time. Does this situation sound familiar to you? Then invoice factoring might be perfect for you. Factoring helps improve your cash flow within 24 hours, so you can keep selling.