Deal or no deal? A salesperson’s success is measured at the closing. Losing a sale is equated to the endgame. A sale is the ultimate measure of the success of the product, service, business, or organization. It is the culmination of months of efforts, meetings, investments, etc. An important part of a salesperson’s learning is knowing and mastering the effective closing techniques.
Mastering sales closing techniques can be pivotal to a salesperson’s career. After all the hard work of identifying the prospect to making a contact to product demos, explanations, and negotiations, it is the successfully closing of business that matters the most. They can help build a great rapport with the customers and effectively quantify the results. Sometimes they can just be the tip to make the final push to closing the deal effectively and efficiently, or they could be the starting point you need to open the conversation with a prospect. There are different kinds of closing techniques, and there is a time and place and type of prospect for every kind of the sales techniques.
Here are the top 10 sales closing techniques that are quite tried and tested and will help you chalk up more wins in your sales career.
1. Assumptive close
This is a popular sales closing technique, which is very powerful and highly effective. This is the art of negotiating as if the deal is already stuck without being too aggressive. All you need to do is to be super-confident about your product. Assumptive sales closing technique draws on the power of positive thinking. It is a common process used in B2B sales. You talk to the client as if the sale is done, and the only thing left to do is iron out the details such as delivery date, quantity, and place. There is no backing out of the deal. For example, “It was great talking with you, shall we decide the time on Saturday delivery?” “We are glad you liked the trial experience; would you like to sign up for the workday tomorrow?”
Pros
- Makes the sales process faster as the decision-making stage is skipped.
- Gives the customer more confidence in the product
- Makes it smoother to transition into closing stage
Cons
- Can come off as overly aggressive and presumptuous
- Not suitable for customers who are slow decision makers
- May let the customer feel rushed to close the deal and make them suspicious
- Has a risk of misreading
2. Question close
This specialized technique involves the salesperson asking questions to the customer to close the deal. The questions are phrased in a way that makes the customer think about the benefits of the product. This way, the customer gets to know more about the product and gains more confidence in the product. It is a win-win situation for both, as the salesperson also gets to know where the customers stand. The questions can be like, “Is there anything else you would like to know before the closing of the deal?” “Does my explanation help you understand the product?”, “Can you imagine how much time you will save by using our power tool?”.
Pros
- Customer can see the benefits of the product
- Questions can be persuasive in closing
- Solve the doubts that customer might have about the product
Cons
- Requires great skill on the part of the salesperson to ask compelling questions
- The deal might be lost if the customer is not convinced
- The customer might feel as if the salesperson is be being too pushy with loaded questions
3. The sharp angle close
This type of sales closing technique is a way of closing a deal when the customer is also a negotiator. You can address a specific objection to remove the hurdles from the sale. The customers will negotiate, and this is a given fact. You just need to use the negotiation as if the deal is already done. For example, when the customer asks for a discount, you can say yes to it, provided they came onboard today, or offer priority support if the customer takes the full package. It is a good process to use when there is only one thing holding the consumer back.
Pros
- Encourages clarity and directness
- Gives higher conversion rates
- Clears customer doubts
Cons
- Puts pressure on buyer
- Depends on the skill of the salesperson
- Might be only a short-term gain.
4. Urgency close or the Now or never close
Just as the name says, this is creating a urgency for the purchasing decision. As a salesperson, you have to be careful within timing and pacing of the push to sell. The timeframes should be decided by keeping the client’s capabilities in mind. The enticing factors in this type of sale close include bonuses, discounts, offers, attractive quotations, etc. This type of sales closing technique takes advantage of the fact that even if the client does not want to buy, they will still want to take up the offer. For example, “If you buy today, I can give you 20% off on the subscription.”, “This offer is only valid for the day.”
Pros
- Best to use when the sale is close to the finish line.
- The discounts or offers become the motivation to buy
- Helps avoid the postponement tactic by the customer
- Both the customer and salesperson benefit
Cons:
- Can come across has high pressures
- Customer might feel manipulated
5. Direct close
This is the simplest and most straight forward one. Just ask the customer, if they are ready to buy, but only when they have shown a keen interest in the product. For example, “You have already seen how our software can easily automate the accounting process, would you like to implement it in your system?”
Pros
- It is straightforward and simple
- Speeds up the sale process
- Very effective when the customer has given strong interest vibes.
Cons
- Can seem pushy
- Is risky as the customer might feel too pushed
6. Empathy close
Emotions play an important role in sales. Empathy close is a powerful tool in which the salesperson puts himself in the shoes of the customer and explains the pros personalized to their needs. This helps build trust and rapport with the customer. For example, “I know it is not an easy decision to make, how about we meet later to discuss more about the product?”
Pros
- Builds a long-term relationship
- Makes the customer feel needed and valued
Cons
- May not work if the customer’s concerns are not addressed
- The salesperson might seem insincere
7. Ben Franklin close or the Analytics close
Named after the famous Benjamin Franklin, this sales close technique, requires you to list the pros and cons for the prospect. Both the client and salesperson work closely together to see the value of the product and make a decision.
Pros
- Beneficial for clients who have an analytical bent of mind
- Helps the client see the benefits and drawback
- Is a logical approach to closing a sale
Con
- Can be long drawn and time consuming
- Requires in-depth knowledge on the part of the salesman
- Too man cons can negate the sale
8. Visual close
A visual presentation of what has been discussed with the client. This sales closing technique, appeals to the way the human mind works, and helps the client visualize what they are buying and how it will help them in a very precise manner. Human brain processes images 60,000 times faster than the written word. For example, “We have already talked about the product, I have put together a little presentation about the product and things we have covered so far. I Hope this information helps us close the deal quickly.”
Pros
- Helps expedite the sale close
- Gives the customer a clear view of what they are paying for
Cons
- Might be a slow process
- Runs the risk of customer having more doubts
9. Columbo close
Based on the famous TV detective Lieutenant Columbo, this sales closing technique means playing dumb, and asking straight questions to the prospect and the second part is to make an engaging pitch just before the customer is about to leave. This way, the customer gives more information, and the salesperson can address the concerns better. For example, “Before you go, I think I forgot to mention the special price we have going right now.” “Did you have any questions that I might have missed.”
Pros
- Helps find out the interest of the customer and their interest in buying
- Let’s the customer express their feelings and doubts
- Helps them work out the objections of the prospect
Cons
- The salesperson can respond appropriately to the customer’s concerns
- Might not work if the customer is not very forthcoming
10. Puppy Dog close
This is a simple but effective sales closing technique. In this way, you let the customer use the product or test drive the product before they buy it. For example, “Why don’t you try this software for two weeks and see how it helps your operations, and then we can close the sale?”
Pros
- Reduces the risk of purchase on the prospect’s behalf
- Helps build a solid rapport with the customer
- Helps highlight the effectiveness of the product
Cons
- Trial and demonstration are not always possible
- Does not work if the customer does not have the interest to buy
- The customer might decide to not to buy
