10 Great Sales Closing Techniques
Entrepreneurs need to pay attention to the end-phase of their marketing cycle because this is arguably the part that matters the most. Many salespeople manage to muddle through making their sales quotas by prospecting and coming up with new advertisements, but many are dismal failures when it comes to sales closing techniques.
There are lots of ways to close a sale, but these are ten of the methods that are tried, true, and tested.
- Close By Repetition - This method not only takes patience it must also not appear to be repetitive. Some people need to think carefully about their purchases and it helps if the benefits are outlined for them a few times within your sales pitch. You should not necessarily draw attention to the fact that you are repeating the information, but say things in different ways to make sure you get your point across.
- Create a Sense of Urgency - If your potential customer thinks there is a time limit on what you are trying to sell then they may be inclined to act quickly. Putting an expiration on your order gives you a reason to contact them again, especially if they walk away without a firm decision, and it also ensures they put some thought into your offer.
- Introduce the Idea of Competition - When a potential buyer knows that the item may be sold to someone else if they walk away, they are more likely to accept your deal than to walk away.
- Close By Association - By letting your buyer know who else has bought your product you allow them to associate your product with a certain type of buyer. If they like your crowd then they may try your product.
- Work it Down to a Daily Cost - If something is on the expensive side one trick is to break the cost down into the smallest unit. Therefore, a monthly fee might be broken down into a daily cost to make it seem more affordable.
- Throw in Conditions or Sweeteners - Offer the client some extras on the condition they make the purchase or take an even smaller step, and use conditions throughout to get them to look at brochures and watch promotional videos.
- Give a Free Trial - This method comes in handy when there are specific objections to your product or service and the consumer has never tried your company before. The free trial can let the customer experience some or all of your product or service and then call for them to make a decision.
- Make it Exclusive - This involves a bit of reverse psychology. By introducing pre-qualifying elements into your offer, the client automatically wants to be able to buy your product or service because nobody likes to hear that they don’t qualify.
- Opportunity Cost of Not Buying - By drawing the potential client’s attention to how “expensive” it is not to have your product or service, the purchase price seems relatively cheap. By using cost in a very loose sense, to include things like inconvenience and delays, you can make what you are selling look even more attractive.
- Identify a List of Their Needs - By asking the potential customer a few questions at the beginning, you can refer to them as you outline the product’s features to highlight how each one addresses a need. Writing these things down and then ticking them off on a list makes a strong impact on the potential buyer as well.
With these top 10 sales closing techniques your sales quotas are sure to increase every month.
Image: Arvind Balaraman / FreeDigitalPhotos.net