Closing the deal is what brings money into your accounts and pays the bills. Getting new leads and working with your clients to make them buy is essential for your business. But it’s your closing that makes the difference between profit and loss.
Getting potential buyers to sign the contract is difficult, as reasons behind purchasing decisions change with each new client. In this context, having more than one closing techniques for your sales is the element that puts you closer to success.
You need to tailor your speech to meet your client’s expectations. This way, you keep a balance between a persuasive message and a boring one. Such a strategy requires consistent planning and research. And it brings more clients towards your business, with higher chances to close more deals.
With the right strategy, you’ll be able to improve your sales funnel efficiency and close more deals – with higher value. Here are eights ways to be steps ahead when closing deals, to make the most of each business interaction.
Know Your Competitors
One million B2B sales jobs will disappear by 2020. On the other end, the number of real estate agents is expected to grow by at least 6 percent until 2026. These changes in the way people and companies do business are going to modify markets.
Furthermore, the digital world we live in has brought significant changes in all domains, sales included. Depending on each industry, companies have to adapt their offer and sales techniques to meet clients’ expectations. From a solid social media presence of B2B companies to video marketing for real estate agents, you need to find the right tools to stay ahead of your competitors.
Which means you need to analyze competition and learn as much as you can about their offers. Only when you know well your competitors, you can make a better offer and close a deal.
Give Your Clients Options
Prospects want alternatives when making a purchasing decision. Giving them at least three options puts you one step closer to close a deal. Customize offers to cover different levels of prices – from basic packages for small business to premium plans for companies looking to pay more for top services.
Let clients choose what suits them better. You can guide them towards a high-value deal, but let them make the final choice. Many will choose the high-end option anyway.
Improve Your Negotiation Skills
Negotiation is an art. If you know how to negotiate your terms, you are many steps ahead when closing deals.
This means you need to become an expert in dealmaking tips and learn how to use all advantages in your favor. In the same time, you must treat your clients with respect and show them what your business has to offer without offending competitors or third parties.
Focus your sales message on what you can provide. Build your proposal around the benefits of using your product. Keep things short and clear. Otherwise, prospects may skip the relevant information and look for more details with your competitors.
Set Clear Deadlines and Respect Them
Taking your prospects from the awareness stage to the consideration stage and, eventually, to the decision stage needs planning. Which includes setting clear deadlines for each step of the sales process.
People like to talk during these different stages – about prices, how the product works, timeline. Depending on the niche, you could cover all these in hours or in weeks. If you don’t take the time to plan ahead your client’s journey, your competitors surely will.
When you’ve guided your buyers through all the steps, you are one step ahead when closing the deal. Because you’ve brought things right where you wanted.
Experiment A Shut-down Move
When you feel you’re losing ground against competitors, you can draw your prospects’ attention through a shut-down move. Done at the right moment, it gives you some time alone with your possible client.
It’s the right moment to put on the table your best skills to persuade clients and close a deal. In this stage of the process, you need to highlight your business and the qualities that make you unique among your competitors.
Ask the Right Questions
There’s no such thing as the perfect recipe for closing a deal. You can’t ignore though, that some techniques work better than others. Asking the right questions when closing a deal can increase your chances to build a strong business relationship with your clients.
“Is there a reason for not agreeing today?”
“Are you ready to take a step forward?”
“Why don’t you give it a try?”
The right closing phrases to seal the deal can put you one step ahead of the other parties involved. And it helps you avoid the situation in which your prospects postpone their decision.
It’s not a lower price, but a higher value that closes a deal. When you feel you could lose a contract due to a better offer coming from your competitors, try to beat them on quality instead of taking the price fight.
Most clients – especially large companies – are ready to pay more to get premium services. Instead of lowering your price, bring your best package on the table. This can show your clients the advantages of doing business with you.
A good deal can be a starting point to leverage new business opportunities. This isn’t going to happen if you’re trying to get extra points by lowering prices. Make your offer more appealing in terms of services and prospects will accept your price as it is.
Discuss with The Decision Maker
No matter in what industry you’re selling, you need to find the decision maker. He or she is the person you need to convince, so it’s essential to customize your pitch to meet his/ her expectations.
Most of the times, you need to struggle to get in touch with the person who makes the purchasing decision. It’s extra work, but it usually pays off. Do whatever you can to negotiate directly with the decision maker. This puts you steps ahead when closing deals like no other technique.
Sales are changing, due to new technology and an increased taste for digital business. You need to keep up with times. And position yourself one step ahead of your competitors to close deals at the right price for your business.
Improve your sales techniques and always do business with your clients in mind. Try to understand their costs and customize your offers to meet their expectations. This way, you’ll avoid wasting time and money with postponed decisions.