Practical Tips on Closing Sales....

There are many closing techniques and there are some common tips that are offered to make closing even more successful.

ABC

ABC is a common term which stands for 'Always Be Closing', which is both good and bad advice.

ABC is good advice when it is used to keep in mind that you are always aiming towards a close. It is bad when you just use it to mean battering the customer to death with a barrage of unsubtle closing techniques.

Selling can be a lot like fly fishing. If you tug hard on the line, it will snap and the fish will get away. The best method is a gentle coaxing that gradually brings the fish in to shore - although sometimes when they are spooked you have to let them out again and calm them down further away.

Silence after

When you have used a closing technique, be quiet afterwards and let them respond. If you just keep talking, then you may miss what they have to say - like 'yes' for example.

Silence also builds tension and will encourage them to respond - and a response to a well-put closing question will hopefully be positive.

Watch emotions

Watch out for the other person not only in what they say but also in the emotions behind the words.

Never try closing when they are in a negative emotional state - you will only cause further objection and possibly anger that means they will never buy from you again.

Over-closing

It is not unknown for sales people to talk their customers into closure then carry right on and talk them out again. You can over-do closing and it requires a close sensitivity to avoid this trap.

It is often the fear of the other person saying 'no' that often causes a sales person to keep on talking. You must have faith and also accept that when they say 'no' it is no real comment about you. If you take rejection personally then you are probably in the wrong job.

There are no bebacks

When a customer says 'I'll be back', sales people in many different situations know that this is just an excuse to leave. Thus, it is said, 'there are no bebacks'.

The consequence of this is that when customers say they will be back, you cannot count on it and should treat this as if they will not and decide either to move to the next customer or redouble your sales efforts.

Closing need not mean a sale today

In some situations, there are bebacks. In fact any business sale may require that the sales person make many visits and a multi-million dollar deal can take years to set up.

When you can meet the customer again, then you can have intermediate goals and closure may just be and agreement to meet again. It can also ask for commitment to certain acts such as getting you information or looking at a website. Generally, if you are getting the other person to commit to some action, you are moving the sale forward.

Horses for courses

In all of these methods, remember that all closing techniques are appropriate only in particular circumstances. This can include the emotional state and readiness of the customer.

It also depends on the sophistication of the customer. A professional buyer in a big company has been on all the sales courses themselves and can see a closing technique coming from several miles away. Using simple methods with sophisticated buyers will only serve to annoy them, so rather than treating the situation like one-off selling, use more relationship selling methods, seeking to understand them and meet their needs, both professional and human. Everyone, even buyers, like to be treated with respect, and if they do catch you being a bit crass, then apologize and be more careful where you tread!

CLOSING- MARKET TO MARKET SELLING

Can you understand how the excessive use of sales closes may drive some prospects away from the purchase of your product? Its simple: The prospect realizes that he must answer to others in his organization -- or get rid of a trusted vendor -- which is less comfortable than your best closing techniques. He uses any one of dozens of techniques to postpone his decision, then stops returning your calls.
Customers have a decision process that helps to prevent impulse decisions. Sorry, but this is an unavoidable fact.
Industrial customers may be under pressure from sales psychology. Worse than appearing transparent and thoughtless, your excessive and repeated use of sales closes may permanently alienate your prospect.

You will be required to pitch the decision maker and others on your road to meet the decision maker. The decision maker may require steps in evaluating your product such as literature, meetings with subordinates, sample evaluations, process trials, price negotiations, comparisons to competitive products. They may use you, perhaps invite you in only to accumulate additional data that justifies their current supplier. You must contend with advanced corporate purchasing tactics.

Where do you start? First, realize that closing should be a way of working, not a script. Begin by understanding all of the steps that the organization will require to complete the sale. Then, agree on what you will need to accomplish at the current step; how you would be permitted to move forward to the next step. In other words, pre-qualify the customer's needs. This pre-qualification is basically your close -- done in advance! Your job is now to reach a mutual agreement that the customer's objectives are satisfied, clearing a step, allowing you to move step by step towards a check that clears the bank.

Believe it or not, you still have not closed. You will close only when your customer is completely satisfied. What's better than closing on a bank cheque? How about one of the greatest aspects of industry business: repeat orders?

My philosophy is to use one sales closing technique during any single meeting or phone conversation. Using too many closes in sales is a typical mistake; but, not using any is another mistake. Using one close during a meeting will help to move a deal forward. Using two closes may be helpful in very few cases. But, using three or more seems very risky to me -- in business to business product sales.

Furthermore, I use more of a conversational close, not a scripted close. For example, there are some purchasing agents who want to be asked for their order. If they seem to be this type, if they look interested, and if the time is right, why not simply ask for the order?

"Mr. ABC your needs are a wonderful fit for the capabilities of our Corporation. We are excited that your requirement fits with the phase transition with our corporation’s metamorphosis capabilities. During this time you have shown us your requirements and your concerns. We have shown how our organization is capable and focused on meeting all of your requirements. All of us at organization will work hard to make your program a success. May we have an order?"

WHAT IS THE MAXIMUM SALES CLOSING RATIO?

There isn't a standard maximum possible number of prospects who can be sold out of those who are personally contacted. The maximum number or "sales closing ratio" is limitless, even above 100 percent!

We have heard it before. In strategic marketing, in sales, or in customer service, people will say at some point, "This is the best we can do!" I'm delighted if it's my competitors saying this! Because good strategic marketing and a positive attitude can win the day.

Increase the maximum sales closing ratio beyond one hundred percent through strategic marketing, product development and sales:
Attitude is the biggest factor in improving anything, especially sales. Improve that, and sales closing ratios will improve! There's not much to say here. This is a straightforward concept. But this is the most important issue of all. In the long run it may be the only issue in reaching very high closing ratios.

For the next step let's assume for a moment that a salesperson is really at the top of their game in one area. Is it worth trying to improve that last few percentage points? If a salesperson's time is super valuable then their extra effort might be better applied to an area with greater potential. Consider an organization's prospects, products and services, and support.

Prospects are a huge factor. Consider doing a better job of finding a greater number of better prospects and pre-qualifying them before dedicating valuable time resources. There are ways to pre-determine who's more likely to buy. Time value can be maximized by meeting only with the most valuable prospects. Less worthy prospects may be saved for when advertising responses are slow, or less worthy prospects could be traded.

Now let's consider product development. I've sold some products where I booked 98% of my prospects. I've sold some products where I struggled endlessly to get a meeting! Creating a competitive product or service is definitely a function of strategic marketing and product development!


Consider repeat business in the future from the same prospect. In this sense a sales closing ratio can higher than 100 percent! I'm not 'playing on words' here because I've seen organizations and sales people who pay less than adequate attention to this area. Such organizations truely have a closing ratio that's less than 100 percent. Further, this accomplishment isn't automatic. It must be a realization of successful strategic marketing and sales. It requires a shift in thinking where customers are treated more like prospects.

Talk about pre-qualified prospects, who's a better and more pre-qualified prospect than a current customer? Selling more than 100 percent requires that an organization provide its prospects with excellent follow-up and service after the sale, excellent communication, suitable products and services for future purchase, and to deliver as promised -- more than promised.

Regards
NM!!!

Closing the Sale...

Getting a client to say, "Yes" can be one of the most difficult things to do, or it can be as easy as merely asking for the order. If you have taken the necessary steps and completed the groundwork, then you may find fertile fields for sales growth await you.

"Nothing happens until someone sells something!" This is so true! You can be the best manufacturer with the highest quality products, but if you can't sell your products, then you won't get to make very many.

Let's look at some things you can do to help close the sale and get the client to say, "Yes."

* The first thing you must do is listen very carefully and ask open-ended questions so you can help your clients identify their needs. You are now prepared to show them that what you are selling will meet those needs.


* As you are asking questions, listen for signs that they are ready to buy. Some examples might include, "How long would it take to get one?" "Is this the latest model?" or "What terms will you give me?"


* Never answer questions with a simple "Yes" or "No." Be prepared to ask questions of your own. For example, the question about delivery could be answered with, "When do you need it?" You could answer the question about the latest model with something like, "Would you like the latest model or would you be interested in something else if we could save you some money?" If you choose your return questions carefully, they can help lead to closing a sale.


* Sometimes it is helpful to set a deadline to get a person to make a buying decision. If you are planning a price increase, encourage your customer to place the order by a certain date to take advantage of the reduced cost. This sends a message that you are working with them to get a good deal—a message they will appreciate.


* Set yourself apart from other salespeople by becoming your customer's new best friend. Constantly look for ways to serve your customers better. Try to be a resource for the latest information, and be ready to help them do a better job. Rather than being known as only a salesperson, share your knowledge and become known as a resource. This will create added value to your customers.


* Be accessible. If they can't find you when they need you, they will look for someone else.


* Be enthusiastic, and let it show! You can do this with your voice, facial expression or the way you move. A kind, genuine smile is an invaluable asset for a salesperson. People want to do business with those who are upbeat and positive. If you enjoy what you are doing, it will show!


* When closing your sale, avoid options of "Yes" or "No". or questions like, " Did you like the product i am offering?" or "Would You like to go in for this product?"- the Chances of the prospect saying "NO" are higher. Always consider offering alternatives. People like to have choices. Examples- What Did you like in the product i am offering, the quality or the value add?" or You can use this to your advantage by saying, "Which of these choices would you like—A or B?" With this close, you are likely to make a sale of one kind or another. Even if you are selling a single product, you can still offer choices of color, delivery or terms, for instance.


* One final technique is the authorization close. When you have finished your sales pitch, ask if the customer has any additional questions. If he has none, make a check mark on the sales contract where the client needs to sign. Pass the document over to him and say something like, "If you will just authorize this, we can get started right away." The word "authorize" is less threatening than the word sign, so customers are more likely to sign when asked.

If you are prepared for it, closing a sale can be a natural part of your conversation with customers. Work to refine it so that it grows easily out of your discussion. Establish a relationship with your clients. Believe in what you are selling, and implement some of these techniques. Then watch your sales grow!


All The Best
Regards
NM!!!