One of the oldest and most fascinating professions is sales. A great sales personnel is differentiated by his / her ability to complete the sales cycle. Often called out as SPANCO in short. It stands for Suspecting, Prospecting, Approaching, Negotiating, Closing and Order. These are essential stages or milestones in every sale made irrespective of the sector or business type. Closing – the penultimate stage in this cycle aims to seal the deal or bring an order for your business.
A sales professional often aspires to be a perfect closer. However, it is a hard skill to master but it often comes with experience and repeated exp osure to selling in an illustrious sales career. At Arslok, we can enable you to master the most effective sales closing techniques.
1. Now or Never Closes
These are often accompanied by an offer, discount or action to imbibe a sense of urgency. For an instance
We can offer you a 15% discount for an instant payment
That’s the best & last one at this price
Suited for a stagnant deal & often triggers an action with an added value.
2. Summary Closes
Salespeople often indulge in FAB-ing i.e. highlighting the Features, Advantages & Benefits; especially in conclusion to a sales pitch. A summary of impressive, agreeable points on the product or service hits the right nerve with the buyer. Works like magic in B2B sales.
3. Conditional Closes
Often, the prospects ask for extras or complementary services because they have an upper hand. If a sales personnel has pre-approved offers, he can leverage it by agreeing to those asks in return, signing the contract or closing the sale on the same day.
Eg: I can offer the extended warranty of three months if you buy X quantity from us today itself?
4. Question Closes
Sales Reps should aim to understand the needs of their customer better. They can ask probing questions to get more information and curate solutions better suited to the prospects.
It builds empathy, better connect & results in satisfactory sales. It is ideal for the services sector.
Eg: Do you feel the solution we are offering solves your current problems?
5. Assertive Closes
It is driven by a positive thought process and sales reps being in the driving seat. Close communication, proactive mindset and follow-ups form an essential part of this technique.
Eg: Do these new features meet a specific pain point?
Did this presentation align with your expectations?
6. Take Away Closes
Just like a child asks for a toy that you take away from them. What if you do the same to your prospect? If they’re stuck on particular price point, you may agree to close after removing a feature set.
It shifts the focus from the issue at hand & has a visible psychological impact on them.
7. Soft Closes
It is conversational, not salesy and rather a subtle push of your product to customers. You can prompt them with a low impact question on vested interests by scenario building and openness to new ideas.
Eg: Would you be interested to learn more if we can reduce the turn-around time by 10% and increase your productivity by 12%? These techniques can be used for best results as per the situation at hand. Stay tuned for more such value adding tools on Arslok.
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