<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=349935452247528&amp;ev=PageView&amp;noscript=1">
Search
word-map-thumb

The Alternative Board Blog

Closing Techniques that Help Build Sales

Jan. 12, 2021 | Posted by The Alternative Board
Sales conversation

Salespeople all agree about the importance of “ABC” (Always Be Closing), but there’s considerable diversity of opinion on how to go about it.

The best salespeople understand that working towards a close is part of a longer, more complicated process. Every step along the way involves further qualifying a potential customer (or expediently disqualifying them) and guiding prospects through the sales funnel.

It’s what happens at that point that can make all the difference.

As SalesForce Search notes, there are four essential closing techniques:

  • Assumptive close, making the assumption that a deal is on the verge of closing
  • Option close, in which the salesperson offers different closing options
  • Suggestion close, wherein the salesperson suggests terms of the sale and/or a delivery schedule
  • Urgency close, which poses a “deadline” for the prospect to make their decision

Each prospective client is unique, so selecting the right technique is important. Here are other closing tips:

Focus on solving problems.

The choice of a closing technique depends on each prospect’s specific problem, and readiness to seek a solution.

“Apprehension about purchasing from you may have nothing to do with your business, product, or service,” notes Salesvue. In such cases, reluctance may “stem from your prospect’s inability to identify the root cause of their pain.”

That’s why conducting thorough research ahead of the sales call (or during a strategic discovery meeting) is so important. With the right questions, you can lead the prospect to better understand their core issues or pain points, and then describe how your product or service offers the best possible solution.

Share your expertise.

Closing a sale is more likely when the prospect is persuaded you are an expert on solving their specific issues. Perhaps the best way to demonstrate that expertise is by sharing information of value, ahead of the actual deal.

Consider “giving away something of value early on,” advises sales strategist Marc Wayshak. This could involve “sharing key challenges you see in the prospect’s industry” or insights “on the prospect’s particular business.” You might even “do some kind of complimentary audit of their business.” Offering something of value helps to engage the prospective client and make clear how your solutions are ideal for their business challenges.

Want additional insight? Read 5 Ways Business Owners and CEOs Prepare to Seize Opportunities now to learn more

DOWNLOAD

Don’t get caught up in discussions of price.

Salespeople often see price as a key stumbling block to closing a deal. But price objections can be a misleading element in the sales process. A potential buyer who’s convinced that your product or service is the best solution for their business will likely move forward with the sales anyway.

Any objection revolving around price “is a myth,” notes business author Grant Cardone. Generally speaking, price “is never the issue,” but rather “how badly does the buyer believe the value of your offer exceeds its price.”

Strong closers understand this critical dynamic and focus their presentations on value, as opposed to price.

Put yourself in front of the right people.

One common obstacle to closing revolves around making the sales pitch to the wrong person or groups of individuals. Sales cycles can be complicated, often drawing in different prospects within an organization. In such cases, it’s vital to identify the right person (or department), with the authority to agree to a deal.

To address this concern:

  • Conduct comprehensive research ahead of time regarding potential decision-makers within the company you hope to sell to.
  • With every sales conversation you undertake, drill down to better understand how that organization works, who’s responsible for a final buying decision, and how best to get in front of that person or persons.
  • Make sure your communications are always clear and straightforward. Don’t let minor errors mar the credibility of your sales team.

As businesses begin preparing for 2021, a better grasp of various closing techniques will become more essential than ever.

If your sales team is currently in a dry spell, find out what you can do to shake things up. Register for our free TAB Boss Webinar, “Why Your Sales Team is Underperforming.”

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board

Related posts

13 Lessons In What NOT To Do In Your Business
Jun. 9, 2021 | Posted by The Alternative Board
There are many things successful business owners consciously steer clear of while going about running and growing their business. We asked 13 TAB members what they believe entrepreneurs should...
Let Employee Recognition Drive Your Culture
Jun. 4, 2021 | Posted by The Alternative Board
All businesses claim to value their employees and to be committed to a culture that recognizes and rewards employee achievements. But success in this effort may be elusive, particularly if employers...
14 Habits Of Highly Successful Business Owners
May. 21, 2021 | Posted by The Alternative Board
Success doesn't happen by chance. Highly successful entrepreneurs share many habits, and they often incorporate small practices into their daily routine. We asked our TAB members what habits have...
Use Your Company Culture as a Competitive Advantage
May. 18, 2021 | Posted by The Alternative Board
Every business needs a competitive edge, whether it’s in the quality of their products or services, their dedication to customers, or some other aspect they can leverage to outdo their competitors....
When the Time Comes to Fire a Family Member
May. 11, 2021 | Posted by The Alternative Board
Terminating an employee isn’t something business owners and CEOs relish. When the situation demands some drastic action, however, it’s necessary to follow through for the good of the business. The...
17 Essential Traits of Successful Entrepreneurs - Part 1
May. 10, 2021 | Posted by The Alternative Board
While a great idea and some capital may be essential for a successful business, the most critical ingredient for a successful venture remains the entrepreneur. This is why many successful venture...
How to Sell During Times of Uncertainty
May. 6, 2021 | Posted by Phil Spensieri
If your business is struggling right now, you may be wondering if there’s anything you can do to improve your sales. While there’s no guarantee that any specific strategy will accomplish this during...
Managing Family Business Conflicts
Apr. 29, 2021 | Posted by The Alternative Board
Small business owners and CEOs have plenty to contend with as part of their normal daily operations. When the business is family-owned, a different crop of challenges may emerge. That’s because “the...
Tips on Effective Business Succession Planning
Apr. 27, 2021 | Posted by The Alternative Board
With many family businesses, the time to think about succession planning starts on Day One. It’s a complicated subject, sometimes fraught with emotional baggage, but is critically important,...
6 Tips on Making a Family Business Partnership Work
Apr. 20, 2021 | Posted by The Alternative Board
We often hear stories about the difficulties of making a family business partnership successful. Yes, there are unique hurdles that differ from other types of business models, but with the right...