The process of closing a sale, in theory, is simple: be prepared, give a pitch, answer objections from the potential customer, ask for the sale, and follow up until you get a clear answer.
Although it may seem easy to sell something, it is actually more complicated than that. This is something that I have learned from years of experience with sales. It is easy to make mistakes when selling something, especially if you are new at it.
Although there is a basic method for closing a sale, it is more of an art than a science. Since the two go hand-in-hand, we will look at both the artistic and scientific elements involved in closing sales.
If you’re ready, let’s begin with some of the basic science behind why sales don’t close, and where you might be wasting your energy.
What is closing the sale?
The sale is closed when the customer decides whether or not to buy the product. Here are four types of closes in sales:
• You can close the sale by assuming that the customer is already sold on the product. For example, you might say, “When can I come by for a complimentary software training?”
• An urgency close takes advantage of the client’s limited timeline by offering a lower price that is only available today.
• The salesperson asks the prospect or customer to choose between two products, asking which would be best based on their business needs. For example, they might say something like, “Would a three-month or six-month contract be better for you?”
• The salesperson suggests a product to the client based on the conversation during the sale. For example, “It seems like our Premier package best fits the size and needs of your business. Does that sound right?”
6 sales closing techniques and statements to win every sale
Building out sales techniques is not a new concept and there are many tried and true methods that you can use. The following are 6 of the best sales closing techniques that can help you evaluate any situation and stop those firm “no” answers with your own great response.
1. The Assumptive Close
If you firmly believe that you will make a sale from the moment you put effort into it, then you are using the Assumptive Close technique. This technique is based on the concept that the language you use throughout the sale would indicate that you believe the sale is a “done deal.” The key is checking frequently on your prospect, gauging their level of interest, objections, and determining if they’re on the same page as you.
Examples:
“I know how important it is to protect your company from harm in this industry. When would you like to get started?”
This statement tries to make the prospect close the sale out immediate benefit and assumes that they will want to get started with such an important thing- the only question is when?
“To summarize, we have [product] with [specifications and details] and [bonuses or incentives]. What delivery time works best for you?”
You can reiterate the product you’re selling along with its specifications and confirm any incentives you’ve added in order to close the sale. Summarizing the sales details allows the prospect to visualize what they’re getting from the sale and encourage them to close. Following this sales summary with a question can help you close the sale.
You may want to precede an assumptive close with a trial close something like; “How confident are you that this product will meet your needs on a scale from 1-10?” If the answer is close to 10 try the assumptive close. If close to 1 there is more work to do before you try to close.
The following closing technique can give you an estimate of the likelihood of a sale, as well as an opportunity for the prospect to voice any objections. By learning about objections, you can then offer solutions and close the sale.
“It sounds like this product will benefit you by [increasing your efficiency / simplifying your processes / helping you meet your goals]. Are you ready to see a contract?”
This statement summarizing how the product or service will benefit the customer can help convince them to move ahead with a purchase.
This works because your confidence and positive thinking is contagious, and makes the prospect think that the answer is just as obvious to them as it is to you.
This technique is most effective when you have preexisting relationships with potential customers and you are certain that your product is a good match for their needs.
Don’t use this technique when you have no relationship with your prospect or when you keep hearing that the solution doesn’t make sense for them.
2. The Now or Never Close
Offer your prospect something that they can only get if they commit within a certain period of time (including today). This can include:
• This is the last [product] we have remaining
• Anyone who commits today gets a 15% discount
• If you sign up today, you can take priority in the implementation queue
• This price is only for a limited time until [date]
The reason this is effective is because the person you’re selling to feels like they’re missing out on something. If they’re likely to say yes eventually, it’s better to do it now.
The best time to use this technique is when you are able to offer discounts and you are talking to people whose main concern is that they do not have time to make a decision now.
You should not use this method when the prospect has made it clear that they would never use your product, or when you cannot offer a significant incentive.
3. The Takeaway Close
If the customer is not interested in certain features, remove them from the offer. This will save on cost and may make the customer more likely to accept the offer.
Examples:
“Based on what you’ve told me today, it looks like [product] most closely fits your needs. Is that correct?”
You can use this closing statement to show the prospect that you listened to their needs and that your product can help them solve a problem.
“I’m only authorized to give you this price during our campaign, which lasts another week. If you’re interested, I’ll need to have you sign a contract by [date].”
By using this closing statement, you can add a sense of urgency to the sale and convince the prospect to move the conversation along. This will make the prospect feel less pressured to make a decision while still bringing the conversation to the topic of closing.
The reason this is effective is because a lot of people just refuse to pay the full price because they feel like they don’t need all the features. If you can give them the option to pick and choose what they need, then it’s a win-win for everyone.
If the prospect doesn’t seem to be objecting to price, then don’t use this technique.
4. The Hard Close
The “Nothing to Lose Close” is a tactic in which you make your potential customer very aware that you are selling to them. You ask for firm commitments, when you can sign contracts, when you can set up implementation—and anything else that gets them to actually sign now.
Examples:
“If you commit today, I can give you [incentive].”
An incentive can make the sale more desirable for some prospects. This statement can also add a sense of urgency to the sale, encouraging the prospect to accept the deal. The drawback to this technique is that it may require approval from management.
This works because it helps the person feel more comfortable, and even if they don’t say yes, at least they will give you a firm answer so you don’t have to spend time following up.
This method is most effective when you are certain that you will not receive a positive response and have no other recourse.
5. The Columbo Close
The famous TV detective Columbo would often say “Just one more thing…” before asking a suspect one last question. This has become a mantra for many talented sales people. After the customer thinks you’re done, you can put them on the spot by asking for ‘one more thing.’ This last-ditch hail mary can make them stay.
Examples:
“What else can I tell you about [product]?”
This closing statement has a few benefits. It is open-ended, so it does not make the prospect feel like the conversation is ending. The prospect’s answer can help you learn about their objections so you can overcome them. It also gives you an opportunity to reiterate the most desirable features of the product or service.
“Let’s talk about pricing.”
Using a closing statement like this can help you move the conversation from product descriptions to contracts and prices, making it easier to close the sale. It can also encourage the prospect to ask questions about pricing and discounts.
“Given what you’ve learned today, is there any reason you wouldn’t want to work with our company?”
If the prospect has any objections to the sale, this statement invites them to discuss those objections so that you can address them and offer solutions to finalize the deal.
If you’re trying to sell something, it’s important to focus on the most enticing part of your sales pitch -the most enticing part to the customer that is- because they may change their mind if they hear something that interests them.
This is when you haven’t shown the main highlight yet, and you’re pretty sure that the prospect is going to leave soon.
You should not use this approach when you have already given them a long list of the benefits of your product as it will overwhelm them.
6. The Summary Close
Make a list of all the benefits your product offers and the main value points it would bring to your prospect. This will help remind your lead of all the different options they have.
Examples:
“Are you ready for next steps? I’m prepared to send the contract over now.”
The following closing statement offers a few advantages that can help during the sale. By only having the prospect sign a contract, it can help make the idea of purchasing feel less stressful. Additionally, continuing the conversation forward can give the conversation a positive tone and increase the likelihood of closing the sale.
“Do you have any questions for me? Otherwise, I think we can move on to the next step.”
You can use this closing statement to prompt the prospect to discuss their doubts or ask further questions about the product. You can then direct the conversation toward closing.
The reason this method is effective is because it can be more impactful to hear all the benefits at once rather than spend 30 minutes going over them one by one.
When it is most effective: When you are confident that your product is a good match for the lead, and they only need a reminder of all the benefits they agreed would work for them.
You should not use the summary close when your conversation has not been particularly long, or your main value points did not seem impactful on your prospect.
Sales closing tips
Here are a few tips that can help you close sales:
• If the client is hesitant about the sale, you can figure out the reason for the hesitation and present solutions that the product can offer.
• When you are trying to sell a product, it is helpful to know as much as possible about how it works. This knowledge can help you to answer any questions or objections that the customer may have.
• If you want to increase your chances of making a sale, develop a sales pitch that demonstrates how your product or service can solve a problem for the prospect. This will show the prospect that your offering is valuable and worth purchasing, motivating them to make a decision in your favor and theirs.
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