By Lauren Fenthum
Closing a sale is the make or break point in any business. This means that you need to know the right phrases to use in order to close the deal. Closing a sale is a risk, but this is what makes it so thrilling, which is ultimately the reason that drives salespeople to strive for more and more success. Salespeople are expected to produce the best rates, and thus a large number of closing sales techniques have been developed over the years, below are a few examples.
- The time is now or never - This includes a special benefit that prompts immediate purchase. This type of offer can be seen through the use of limited edition sales, discounts and buyer benefits and loyalty programs. This technique has proven to have been successful because it creates a sense of urgency. Remember to always establish value before initiating a discount or promotion as to ensure that you are not running at a loss.
- Summary - This is the reiteration of the items to the customer in an effort to tempt the consumer with the product. Summarizing previously agreed-upon points creates the illusion of an impressive package deal and this can help consumers visualize the true value of what they are getting out of the purchase.
- Sharp Angle - Consumers know that they have the upper hand in negotiating with salespeople, this could mean that they ask for ad-ons or reductions, and more times than not, consumers are expecting it to be dealt with in their favour. Try catching the consumers by surprise by using this technique, likely they won't be expecting this so it could land in an agreement. An example of this technique is if they ask for the product at a discounted price, reply with “sure! But if I do this for you, will you sign the contract today?”
- Question - Salespeople need to ask prospective consumers questions in order to understand if the sale is going to be closed or not. Effective salespeople should be asking questions from the moment the conversation starts. You can even close the sale by asking a question. The question allows you to understand if the consumer is interested in investing in your business or if this isn't really what they are looking for.
- Assumptions - This draws on the power of positive thinking. If you believe from the first outreach that you will close the deal, it can have a strong effect on the rest of the sales process. It is important to monitor how your prospect reacts and engages with the questions throughout. Ask the prospect if the meeting has aligned with their expectations and if you've provided them with new information about your product. By bringing positive intent from the start of the conversation you are allowing yourself to be in a position of authority and choose the direction of the sales process.