7 Closing Techniques to Help You Close More DealsDecember 29, 2022 sales
The ultimate goal of sales is to close the deal. However, it is not a standalone activity.
You need to nurture your prospect and check all the right boxes for effective closure. Therefore, your efforts must begin with establishing contact and last till your prospect becomes a loyal customer.
The closing technique matters, as all clients are not the same. Moreover, they may not be fully ready to buy your product or service.
Here are a few proven closing techniques you can try for more conversions based on the readiness of your lead.
1. FOMO Close
Fear Of Missing Out or FOMO now drives purchasing decisions of most millennials. However, it is prevalent among all age groups, from 16 to 64 years.
The FOMO or now or never close creates fear of missing out. It works both for B2B and B2C sales to close more deals.
You throw in a benefit that has limited validity to sweeten the deal. This technique works only when the prospect is interested in the sales quote that was prepared by the sale agent but needs a push.
The list of benefits may include:
- A special price
- Free access to add-on features for a limited time
- Short waiting times
2. Puppy Dog Close
Puppy eyes may work to convince your spouse, but not your clients. Instead, you can try the puppy closing technique to make your prospect fall in love with your product.
Of course, your product should be top-notch and resolve your client’s pain points. If that is the case, you can invite your prospects to try your product for free for a time.
The idea behind this technique is simple. You are thinking of getting a puppy but haven’t decided.
You go to a pet store and look at the small bundles of joy. The store owner sees you and offers to let you take a puppy home for free.
There are no strings attached, and you can return the dog if you don’t like it.
However, you are most likely to fall in love with your puppy within a few days and pay for it.
3. Assumptive Close
An assumptive close is a right approach when you have done everything correctly. Your prospect is interested and ready to buy your product.
The only thing that remains is to decide on the minute details. So, you can get directly to closing the deal, by saying things like:
- Should you start next week?
- When would you like to receive your product?
- Would Monday at 11 am be a good time for our engineers to visit?
4. Takeaway Close
The takeaway threat is one of the best closing techniques for tough leads. It is perfect for prospects interested in your offering but may want more privileges.
For example, they try to find flaws in your product in expectation of a lower price.
The trick here is not to budge from your position. Instead, try the takeaway close and withdraw from the deal lightly.
You can say, “Let’s schedule a final call to discuss matters. If you are not ready, let’s take a break and reconnect when you feel it is right for you.”
People behave like kids in such conditions and want something more when you take it away. In this case, it might lead to signing the deal.
5. Sharp Angle Close
The takeaway closing technique suits clients that want a privilege. However, some prospects may have legit issues or concerns with your offering.
Or, the client may a better negotiator and try to extract more from the deal. They may want something specific against the promise to close the deal.
For example, your prospect may say, “Can your marketing campaign bring my social media page 1,500 likes in a month?”
To close the deal, you may say, “If we can, will you sign the contract tomorrow?”
A prospect genuinely interested in your product is more likely to say yes to such an offer. If the answer is no, you should try to discover if there is any other problem.
6. Testimonial Closing
Social proof is excellent for creating trust. However, it may not always be enough to convince your leads to convert.
Here, testimonials from real customers can come to the rescue. If a prospect is hard to convince, you can share success stories of similar clients using your product.
Best of all, you can create case studies for each customer and share them with your prospects. Use the success stories as your foundation to nudge your lead to close the deal.
Testimonials assure prospects that your offering will solve their pain points. It is excellent to remove doubt and gain the faith of your prospects.
7. Empathy Closing
Modern sales techniques revolve around empathy - and sales funnels don’t shy away from understanding customer issues either. You can sell best when you put yourself in your customer’s shoes and understand their pain points.
Therefore, showing empathy is the most effective closing technique when your prospect is not signing the deal.
Ask several questions to understand the issue. Maybe, they have not received the final go-ahead from the top administration to make the purchase.
Or, they might be considering your competitors.
Understand their objections and take necessary action to make the deal happen.
The secret behind closing deals is to understand your prospects. Find out what is stopping them from signing the dotted lines. You can pick a closing technique accordingly and use it to your advantage.
Study shows that companies deal management software close more deals, Concord CRM can remind you of actions that need to be taken, can help you send quotes and proposals, and be up-to-date with all deal actions that were taken from all sale agents.