Most sales are lost because the seller does not know how to close a sale, either because he does not know how to ask the customer to buy, or because he does not do so at the right time. In this post capital smart city will explain sales closing techniques so that your business process is a success.
1. Sales closing phases and techniques
The closing of a sale is the moment in which the customer buys the product or service that the seller tries to sell him. Many salespeople don’t know how to give that last push the customer needs to buy.
Closing a sale, in theory, shouldn’t be difficult. If you’ve done the job right throughout the entire process, the customer just needs a little push to buy.
But how do you get to the final stage of the sales process successfully?
1.1. Customer contact: active listening and analysis
Oftentimes, the customer is not yet ready to buy when you have finished introducing the product or service. It is not difficult to know when the customer is willing to buy if you pay attention to what they do or say at all times.
For example, if at the end of the presentation the client is tense and distant, surely he is not yet ready to formalize the transaction. If this is the case, closing a sale becomes more difficult.
1.2. Sale closing test
It’s a good idea to do a closing rehearsal before asking the customer to buy. The test lets you know if the customer is ready to buy. For example, asking a question like “what do you think of what I just said?”
If after doing the closing test the customer is still not ready to buy, he will surely object.
If you overcome this first objection, he will surely come up with another. And, it will possibly come out with a third. The fact that the customer objects is not a bad sign, since it shows interest. If not, I’d say something like “Thanks, but I’m not interested.”
Once you’ve resolved all of the customer’s objections, you can either do another closing trial or try closing the sale, depending on how you see things at the time. This is the key point of a sale, the moment when the customer has to decide whether to buy or reject the offer.
- A refusal to buy by the customer is not necessarily the end of the sales process. Depending on the reasons why she declines your offer, you can change her mind and ultimately land a sale.
- If you finally fail, you can always contact the customer again after a while to try again. After all, circumstances can change and the client may need something that they did not initially need.
- The closing should be the natural end of the sales process if you have done the job of qualifying the contacts well and the product or service has clear benefits for the client.
2. Why are the majority of sales lost?
Most sales are lost by not knowing how to close or by trying to close at the wrong time, either too early or too late.
Even if the customer is thinking about buying, they probably won’t say it out loud. In fact, you may not even know how interested you are. Instead of saying out loud that they are interested in buying, most customers mean it without saying it. For example, asking a question.
Knowing how to recognize the signs that the customer is ready to buy is a great advantage for a salesperson.
2.1. How to analyze customer questions and answers
Customers often ask questions during the sales process. Is it possible that thanks to these questions, we can determine their degree of interest? Here are some tips:
- If you ask questions in the product presentation – that’s a good sign. After all, if a customer wasn’t interested at all, they wouldn’t even ask questions.
Some questions in particular are a clear indicator that the customer is interested in buying. They are the questions that imply that the customer imagines himself using the product.
For example, a customer might ask something like: “Who is responsible for maintaining the product?” Or something like: “When could they serve it?” These are clear signs that the customer is very interested. Once you’ve answered the question, you can increase the customer’s interest by describing how it would be different for him or her if they had the product.
- If the client asks you to explain something again or clarify a point. Another clear sign that the customer is thinking of buying.
For example, if you say something like: “Can the product do anything else?” or something like: “Could you explain in detail that last thing you just said?” These questions tell you that there are things you just said that the customer finds really interesting.
In general, those things that interest the client are related to some problem or some basic need that you should influence in the presentation in order to close the deal.
- If the customer says something like “that sounds great” or something like “this is just what we need. ” It is also a very clear sign that the customer is interested in purchasing the product or service.
- Objections are another one of those indicators that the customer is interested in buying. When a customer objects, it means that they are thinking about buying, but that there is something that worries them.
Questions like: “What if the product is not exactly what we need?” or phrases like: “we can’t afford it” mean that, at the very least, the customer shows interest.
When the customer objects, they are usually telling you that they are interested, but that they need more extra information to decide to buy. If you can give him the information he needs, you will have another sale. Therefore, objections are good news for a seller, they are not a problem. Treat objections as they deserve and they will lead you directly to increasing your client base.
2.2. Other signs that should alert the seller
Here are other signs that alert the seller that the time to close a sale is approaching:
- The client begins to ask about the conditions of the sale, price, terms …
- The client’s tone when speaking shows a certain excitement
- The client makes some reflection that their current situation may not be ideal
- The customer’s body language indicates that they are considering the offer
A signal from the client can be an indicator that they are interested, but that does not mean that you can close the sale at that moment. Almost all customers are reluctant to buy, and the more you pressure them, the more likely they are to decline the offer. So instead of using some closing technique right then and there, act gently to bring them to a commitment little by little.
With experience, the salesperson learns to read these and other signs that the time to close a sale is approaching and to develop what is known as empathy (the ability to understand what others are feeling). Empathy is an inherently human quality that experienced marketers have highly developed. Thanks to this capacity for empathy, a salesperson feels almost intuitively that the time to close a sale is approaching.
The previous commercial work in particular locates the client’s pain point and the real need of the person in front of you. Next, what we must work on is the delimitation of your available resources to present you with a suit tailored to your needs.
If as a salesperson, you dedicate the necessary attention during the commercial process and understand perfectly what the client’s needs are and have prepared a proposal that you understand perfectly, signing the contract is a natural consequence.
If that is true, that on the internet, you will find a multitude of articles that talk about specific techniques such as that of the pen in hand, among others, that can help you to unblock a certain situation, although in my opinion, the only thing that is effective from a rational point of view, is to work in detail the qualification. And from Connext, we can help you.