Are you looking for the best closing techniques to help you close even the hardest deal? If so, you are in the right place! One disclaimer before we dive into the details: while the following sales techniques can help you increase your company’s profit or accomplish the desired profit margin, results aren’t guaranteed. This is the nature of sales; there isn’t just one technique that can deliver a 100% sales success formula.
Yes, in theory a sales process sounds simple. You are expected to:
- Show up prepared: This rule means you need to do thorough research on your client to determine their customer profile and needs.
- Give your sales pitch: You can’t sell if you don’t offer, right? A sales pitch is your moment to showcase your product or service in the best way possible.
- Respond to your prospect’s objections: Carefully analyse your client’s objections to find a winning way to neutralize and win them back.
- Ask for a sale: Once their objections have been overcome and their concerns have been addressed, ask politely for a purchase.
- Follow up: To follow up means you should keep asking for a sale until you close a deal or thank them for making a purchase.
These sales techniques are the underlying formula behind closing a sale. While they are valid, they are very basic in today's customer-centric business world. In practice, the sales process is far more complex than it looks at first glance. A closed sale represents a synergy of both art and science. Every prospect is unique so the sales pitch should be carefully and precisely crafted to satisfy their specific desires. A salesperson must be a communication maestro who can adapt their tone and language to your customers’ expectations while maintaining loyalty to your brand.
However, salespeople are not there just for the sake of closing a sale anymore. Sales superstars work on building both a sale and a long-term customer relationship, ensuring your customers stick around longer. Nurturing customer relationships is a way to set a strong foundation for continuously increasing your customer retention rate and the number of five-star reviews! Sales reps are joining forces with customer service reps to provide unforgettable customer experiences and make your brand look spotless!
Let’s see what top sales closing techniques today’s sales virtuosos use.
1. The “Try It Out” close
The Try It Out sales closing technique works every time! This tactic is based on making a pre-purchase product connection. For example, people who walk into a pet store and play with a cute puppy for a while will start to develop feelings for it and be more likely to purchase. In this way, they can connect with the “product” before making a purchase. This tactic also allows you to generate trust in your brand quickly.
When you try to close a sale after the prospect has already adapted to having your product in their life, they won’t want to revert back to life without it. This top sales closing technique works best with subscription based businesses where you can offer limited free trials and a great variety of features. However, if your offer can be easily quantified then this may not be a sales technique for you.
2. The “Now or Never” close
Build your sale around a limited-time offer or purchase that involves customer commitment to your brand. When your prospects see that they can get something only if they commit to your offer during a specific period of time, they won’t want to miss the opportunity. The benefits associated with committing sooner will lure them to make the decision more quickly.
Your can present your offer as:
- The only item left on the shelves
- A 20% discount if they buy it now
- Membership prioritization if they sign up today
- A limited time offer, such as couple of days or hours
3. The “Takeaway” close
In most cases, the price is the key decision-making factor! A customer may object to your offer simply because the price is too high for them or they don’t want to pay for the features they don’t need. Thus, you can eliminate unnecessary costs to win your customer back! This top sales closing technique works perfectly with multi-tiered platforms that can offer dozens of options to accommodate different price points.
4. The “Opportunity cost” close
In economic or business terms, opportunity cost represents the cost of forgoing something. In sales, it is one of the top sales closing techniques that will make your customers hurry up to make an order! This technique involves highlighting all the things your customers will miss if they don’t accept your offer.
In other words, you are helping your customers realize the loss they will incur if they don’t implement your solution. The opportunity cost sales technique is especially effective when you are trying to sell a more expensive product that pays off in the long run. With this strategy, you help prospective customers understand that their purchase is not an expenditure but rather an investment that will yield serious results.
5. The “Assumptive” close
You are full of confidence! The key to making an assumptive close is that you already believe the sale is a done deal. The tone and language you use should reflect this attitude throughout the whole sales cycle. You are certain that your product or service will solve your customer’s problem and make them want to come back for more.
This attitude is contagious, making the sale benefits just as obvious to everyone as they are to you. When your customer agrees with what you are saying, they will trust you more. The fact that they believe in your product like you do, makes the whole decision-making process a lot quicker and easier.
Nevertheless, this top sales technique is not suitable for all sales cases. You should opt for this technique when you work with leads or long-term customers who already have a strong idea of you and your brand. If you start an assumptive pitch with a person you just met, you risk losing them quickly because building trust takes time. Thus this method is more of a secondary sales step.
Another pro tip: never use this strategy with a customer who keeps repeating that this offer doesn’t make sense to them. Of course, this doesn’t mean you should stop selling after the first “no”. You shouldn’t even stop after the fourth “no” because that is when the magic happens! The latest consumer study shows that a majority of people, 80%, give four “no’s” before they change their mind. Sadly almost all salespeople, precisely 90%, give up before they make it that far! Most often, they call it quits on a prospect after hearing the fourth rejection. Thus make sure to always check whether the fifth time's the charm!
To successfully use this sales technique make sure to:
- Frequently check on your prospect
- Gauge their level of interest and objections
- Determine if a customer is on the same page as you
6. The Hard close
When you expect them to say no or you are in the early sales stages with your leads, you have nothing to lose, right? If this is the case, don’t play around. You should make it clear that you came to sell your product or sign a contract. The customer will respect your honesty and you will make it easier for them to provide a firm answer so nobody’s time is wasted.
7. The Columbo close
“Just one more thing!” This famous one-liner of TV detective Columbo has become a top sales closing technique due to its effectiveness! Just when it’s almost over and your customer is ready to leave, hit them with the most brilliant and appealing part of your sales pitch to turn things around. Hope dies last in sales too! Your customer may be still confused or just indecisive. Thus make sure that you have done all you can!
8. The Summary close
The summary sales closing technique may sound basic, but it’s essential. Sometimes your customer just needs a quick reminder of all product benefits. The most effective way to provide this overview is to summarize and repeat them all at once. This sales technique can be far more efficient than going over each benefit for 30 minutes or more. It is simple: prospects can’t remember all the details you offer but they can definitely keep the main points in mind. Use this sales technique when your presentation has been particularly long and you know that your product is the right fit!