Closing sales is the ‘make or break’ step that means time lost or revenue earned. There are several reasons why a deal doesn’t close. To start with, 1/3rd of salespeople feel closing sales is the single most challenging part of their job, reflecting a lack of preparedness or confidence.How to close a sale using different types of sales closing techniques listed below
- The Puppy Dog Close
- The Assumptive Close
- The Take-Away Close
- The Now or Never Close
- The Question/Consultative Close
- The Puppy Dog Close
This technique works on prospects who struggle to realize the value of your offering against the price. It’s a low-pressure tactic where you give the prospect an impressive product pitch and then a trial period to test out the product/service.
You could also provide them with a one-on-one or 1: many demo where they can ask questions, and you can answer them on the spot. If they like your product, you won’t have to do anything else to get them to buy.
“How about a 7-day free trial to see if our product is the right fit for your company?”
“I can arrange for a free online session on Machine Learning so you can take a call on this upskilling course.”
The Puppy Dog Close is useful when you are confident that they will see your product’s value within the trial period. If your product is complex with a long onboarding process, then you’d have to either extend the duration of the trial offer or skip this sales closing tip altogether.
- The Assumptive Close:
An assumptive close operates on the assumption your prospect is already prepared to buy and moves backwards to make sure nothing is left unattended. Use this technique only when your prospect has checked all the boxes on your qualification list and you are sure your offering adds value to their business.
“So, can we schedule a meeting for implementation next Wednesday?”
“Great, so you agree it’ll be a good addition. Shall I share the contract copy by email?”
A word of caution: The last thing you’d want is your prospects buying time when all the benefits have been explained and understood by them. Build trust and demonstrate value first, then come out with the ask at the end of the need discovery journey. If they’ve shown interest in what you have to say, you could question them if they start to show signs of losing it.
- The Take-Away Close:
This technique plays on the human tendency of wanting what we can’t have. It works best in situations when a prospect throws up objections, particularly regarding price.
Here, taking something away from the deal will either make it more suitable for their needs or make them see the benefits they could lose out on. It is easier for them to choose an offer that works for them rather than contemplating purchase altogether.
“We could get you started on a smaller plan instead. You’ll still get the basic features. However, most of our clients are on the [original] plan as it includes [additional features]. What do you make of it?”
Pro Tip: Take Away Close works well when your product is customizable to meet user demands, like insurance plans, staff training, premium subscriptions, etc. If it isn’t, then you may have to withdraw from the deal.
The Now or Never Close:
As the name suggests, this closing technique involves persuading prospects to take a decision as soon as possible by creating a sense of urgency in them with a limited offer or special deal.
“You get 5% off the original plan if you place the order now. This offer vanishes at 8 PM tonight.”
“If you register today, you’d even have free access to our exclusive loyalty program. Prices rise from tomorrow.”
This technique works well when the prospect is happy with the product but is taking time to decide. If this is because they aren’t confident enough to convince the true decision-makers, driving a cost-benefit may work. But if they are not confident of all the benefits yet, using this technique would make it seem like your product is not that valuable, instead of instilling the fear of missing out on a good price.
The Question/Consultative Close:
To successfully close a sale, you must ask a series of questions and answer some the customer may have. This technique helps handle objections better and naturally move the prospect towards purchase. When there is nothing else left to discuss, get them to finalize the deal.
Ask sales closing question like
“Does what I’m offering address all your concern? Then I can take you through the buying process.”
“If you don’t have any other questions, can we proceed to the formalities?”
Questions help, especially for products/services that are slightly complex, like software or financial schemes. Ensure the questions help prospects realize the value of your offering and how it can solve their problems. It is easier to address them while on the call than trying to change their mind after they say no (which would mean you were wasting time in the first place).
How greater visibility can help your team close more deals
Sometimes a rep seems to be doing everything right. They speak well; they do their research; they end their sales calls with a high sentiment score. But somehow, they still don’t close deals. Delving deeper into sales calls analytics may be able to reveal why that is.
One of the key benefits of using a conversational intelligence platform like Salesken is that you can identify the exact behaviors/actions that close more deals – the tactics that your best performing reps employ, so you can replicate that with the rest of your team. Salesken detects meaning and emotion in speech and helps your reps respond better to prospects with real-time cues displayed on the Help Zone. With Salesken, you can better equip your sales reps to decide which closing technique works best and update your playbook as well.