Closing
What is the most common reason for lack of sales? It is failure to close. You should therefore close often and early. Also do not accept the first NO. The average is 6-7 no’s before a YES!
The principle of all Sales and Marketing can be summarised by the term AIDA:
- Attention
- Interest
- Desire
- Action
Action is closing the sale.
Closing the Sale
A sales deal is composed of three parts. The first part is the introduction of products to possible customers. The second is the customer’s acceptance of the product. And the third part, and the most important part, at that, is the closing. With that said, closing is the hardest part of every sales transaction.
The work is done and the pipelines are filled in the first two parts of the selling process are where. But if your closing is rather weak, all that time spent in building the sale will be lost. And so, to become a good salesperson, you have to develop a strong closing technique. This part of the sale is so critical that some companies actually hire two sets of salespeople – the prospectors and the closers. But if you want to be a rounded salesperson , you should be the embodiment of these two. It means that you can initiate, develop, and close a sale in one fluid action. Before we go to the different techniques you can use to close a sale, you have to know first the five basic principles of a sale.
Timing is important.
Once you feel that the sales agreement between you and your customer is reached, you have to act swiftly. Let them sign the necessary forms and supply the necessary information needed to process the sale. Treat the moment that they say “yes” as a bell chiming, which signifies that you are just a few moments away from success.
Learn the proper timing in closing the deal
If time is important, then timing is of paramount concern too. As a good salesperson, you should act at the right instant. If you act too soon or too late, you might lose a sale before you know it. And to keep yourself from guessing as to when the right time to pounce on the deal will be, always try turning the tables around to your favour. Instead of your customers dictating the pace of the transaction, you take over. But before you can do that, your sensitivity should be at work all the time. If you feel that your customers is only half-decided, encourage them towards the right path.
You can negotiate by giving more discounts, offering freebies, extending warranties, and things like that. You have to lead your customer all the way to the end of the sale. If they seem to be really backing out, try one or two different moves; not desperation moves but persuasive moves. You still have to maintain the dignity of your products. Remember that you don’t have to go too low for a sale. You are offering your customers a good product. If they won’t buy, it is really their loss. But because of your concern for them, you are still offering them a last chance to buy the product. A chance that may not be offered to them some other time.
Scarcity sometimes work.
While this may be true, don’t overdo it. If you are selling a prime property for example, you are not supposed to tell your customer outright that you might as well call somebody you know who is also inquiring about the property and is probably more than willing to accept what you just offered him. The instant they thought they were regarded unimportantly is the moment they walk out. Using the threat of their possible competition would show who among your customers want the product that you are selling more. Use scarcity as a tool to gauge your customer with. The customer will, more often than not, respond honestly to this. Above all, don’t lie.
Know what to say after they made the decision to buy.
The smart thing to do is ask them if they would be interested in an “advanced” or “deluxe” version of the product (if any) or if they would like a product that compliments the main product. (Example: Would you like this cool pair of socks that match perfectly with your shoes?)
Not all sales deals lead to a close
The sales figures of almost all companies would show that the ratio between the number of potential customers and the number of closed deal are miles apart. But this doesn’t mean that you have to succumb to the numbers. As a good salesperson, you have the power to raise the percentages to considerable heights.