Sales is a skill that requires expertise, and successfully closing a deal is the ultimate achievement.
Thus, using properly the elements of negotiation effectively to close a deal is essential for achieving success in any sales position.
Check out these 20 powerful sales closing techniques that can really help you close the deal and address them, clearing the path for the sale.
What is closing skills in sales?
Sales closing techniques are strategies to successfully persuade a potential customer to purchase with the help of the BANT sales approach. It is the final step in the sales process and involves sealing the deal by getting someone to buy your service or goods.
What are the steps to closing a sale?
Step 1. Build Rapport
Establish a friendly connection with the prospect to build trust and create a positive atmosphere.
Scenario: Begin the conversation with a warm greeting and a winning sales pitch about a shared interest or recent event. For instance, “Hello, I noticed you attended the recent industry conference. How was your experience?”
Step 2. Understand Needs
Ask questions to grasp the prospect’s requirements and preferences.
Scenario: Inquire about their current challenges or goals. For example, “Can you share more about the specific challenges your team is facing in the current project?”
Step 3. Present the Solution
Clearly showcase your product or service as the solution to the prospect’s needs.
Scenario: Demonstrate how your software streamlines their workflow by providing a brief walkthrough of key features. Say, “Let me show you how our software simplifies project management tasks.”
Step 4. Address Objections
Acknowledge and resolve any concerns or objections the prospect raises.
Scenario: If the prospect expresses budget concerns, address it directly by saying, “I understand budget is a consideration. Let’s explore flexible payment options that suit your financial parameters.”
Step 5. Trial Close
Test the prospect’s readiness to make a decision.
Scenario: After presenting the solution, ask, “Based on what you’ve seen, do you feel our product aligns with your team’s needs?”
Step 6. Provide Additional Information
Offer more details to support the prospect’s decision-making.
Scenario: If the prospect requests more information on product specifications, respond with, “Certainly, let me provide you with a detailed breakdown of our product features.”
Step 7. Create Urgency
Introduce a time-sensitive element to encourage prompt action.
Scenario: Communicate a limited-time discount or a special offer: “For this month only, we’re offering an exclusive 15% discount for early adopters. Would you like to take advantage of this opportunity?”
Step 8. Use Closing Techniques
Apply effective closing techniques tailored to the situation.
Scenario: If the prospect shows strong interest, use the assumptive close: “Great! Let’s discuss the best payment plan for your team. Would you prefer a monthly or quarterly billing cycle?”
Step 9. Ask for the Sale
Clearly request the prospect to make the purchase.
Scenario: Conclude by asking, “Based on our discussion, are you ready to move forward with the purchase?”
Step 10. Handle Final Objections
Address any remaining concerns or objections.
Scenario: If the prospect hesitates due to implementation concerns, reassure them by saying, “We provide comprehensive onboarding support. “Our team will make sure that the transition process for your team goes smoothly.”
Step 11. Confirm the Sale
Clarify and confirm the details of the sale.
Scenario: Confirm the order specifics: “Great! Let’s confirm the quantity and delivery details. We’ll get everything processed for you.”
Step 12. Express Gratitude
Thank the prospect for their decision and express gratitude.
Scenario: Conclude with gratitude: “Thank you for choosing our solution. We appreciate your trust in our product, and we’re excited to support your team’s success.”
Sales Closing Techniques
There are various sales closing techniques that can be employed, depending on the specific situation and type of sale being made. Some common techniques include:
1. Assumptive closing technique
Proceed as if the customer has already decided to purchase, subtly suggesting the sale is a done deal.
2. Now or never closing technique
Create a sense of urgency by making the prospect aware that the offer is for a limited time only.
3. Summary closing technique
Summarize all the benefits and features agreed upon during the sales conversation to remind the prospect of the value being offered.
4. Incentive closing technique
Add something extra to the deal to make it more appealing like a discount or an additional service, if the prospect decides immediately.
5. Alternative closing technique
Present two options, assuming the customer will choose either rather than asking if they want to purchase at all.
6. Sharp angle closing technique
When the prospect asks for a concession or a discount, agree to it, but only if the prospect is willing to close the deal immediately.
7. Columbo closing technique
Just as you’re about to end the conversation, you bring up one more thing—an offer or piece of information that can help close the sale.
8. Question closing technique
Ask a question that leads the prospect to reveal their buying intent, such as “Does this solution meet your needs?”
9. Takeaway closing technique
Suggests that perhaps this product or service might be too much for the prospect’s needs, prompting them to defend their desire to purchase.
10. Ben franklin closing technique
List down the pros and cons with the prospect, usually demonstrating that the pros outweigh the cons.
11. Puppy dog closing technique
Offer the prospect a trial to experience the product or service with the hope that they’ll get attached and make a purchase.
12. Balance sheet closing technique
Draw a T-chart and list the pros on one side and the cons on the other to visually weigh the decision.
13. Narrative closing technique
Tell a story about a customer who had the same problems and how your product or service helped them.
14. Impending closing technique
Use an upcoming event that will necessitate an immediate purchase or decision.
15. Thermometer closing technique
Ask the prospect to rate their interest on a scale of 1 to 10, then address the reasons why it’s not a 10.
16. Trial closing technique
Check the prospect’s readiness to buy by suggesting a minor decision related to the purchase.
17. The consultant
Position yourself as a consultant rather than a salesperson, giving advice on why the product is the best fit for their needs.
18. The backwards closing technique
Start by discussing the post-purchase process and work backward to the actual purchase decision.
19. The empath closing technique
Show genuine understanding and empathy for the prospect’s situation or problem, creating a bond that can lead to a sale.
20. The objection solicitation closing technique
Actively ask for any objections or concerns and address them, clearing the path for the sale.
After reading about these 20 sales closing techniques, it’s clear that there are many different approaches you can take to improve your sales game. Whether you’re just starting out in the world of sales or have been at it for years, it’s important to constantly refine your skills and try new techniques.