There is an acronym in sales which is overused. It’s “ABC” which stands for – Always Be Closing.” It’s a reminder that you are always selling and should be focused on closing deals constantly – because that’s what brings in the bread.
But, what if you really don’t know how to close a deal? How exactly do you go from talking about your product or service to receiving the order?
Here are three closes anyone can learn. They are used often by elite salespeople, which should prove their effectiveness. Top salespeople make a lot of money because they don’t mess around with unworkable techniques. They use the best of the best, such as these closes I am about to explain.
Now, simply memorizing them will do nothing. To really learn how to close a deal requires a lot of practice, honest feedback to yourself, and testing to get the approach just right.
The easiest way to close a deal is this: ask for the order directly when the buyer shifts into interest. You will be able to tell by body language and other indicators.
When the buyer’s shift occurs, use a statement that helps make the buyer comfortable enough to close the deal. For example, you might say, “It looks like we’ve got a nice match between what you need and what we are offering. When would you like us to get started?”
- “How do you feel about this so far?”
- “Are you ready to move forward?”
- “Should I write up the order?”
Slightly more involved than the Direct Close is the Alternative Close (sometimes referred to as Alternate of Choice). Here, you take the stance, there is no question that the buyer will buy, it’s a question of what they will buy.
Offer the buyer two choices. One example might be to say, “Do you want to start with the sales training or with the strategic planning facilitation?”
- “Would you like this in red or blue?”
- “Does delivery on Tuesday work for you or would you prefer Friday?”
- “Which way are you leaning, the deluxe model or the extreme package?”
Return on Investment
Of the three, this method of how to close a deal is the hardest to use effectively and requires a lot of practice. It is worth it, as this is the only way to close certain buyers – especially the extremely analytical number-crunchers.
The first rule is you must demonstrate a hard ROI of at least 15 percent over the buyer’s investment. That seems to be the minimum threshold for most buyers. If your service will cost $10,000, you had better show at least a $1,500 gain when all is said and done. This means either revenue or cost savings compared to what they have now.
Then, lead them to see the logic of buying your offering. One method of doing so is to say, “Let’s look at the numbers so you can decide for yourself if they make sense.” If the buyer agrees to do so, and the ROI is compelling, they hardly have any excuse not to buy. If they don’t buy, then it’s not the deal which is bad, it’s they haven’t bought you or your company. Try to establish rapport and an emotional connection before continuing.
Need more tips on how to close a deal? Keep watching this blog and follow us on social media, or take lots of advice home in one great sales book. There’s more to come in the following weeks!