The art of the deal is what business is all about. If you want to close sales, you need to understand the sales cycle, have a supportive sales team behind you, and have mastered your overall marketing strategy and sales closing techniques. In this article, we explore the nuances that underlie deal closing and techniques through which sales representatives can drive their negotiations to successful conclusions.
How the sales process works
The sales process is a set of steps that sales professionals follow. It strives to create a smooth transition from the beginning of the negotiation to the closing phase of a deal. It involves steps that can be repeated over and over in order to achieve a positive outcome.
Below is a rundown of the steps involved:
- Prospecting: This is the part where you look for potential customers. Think about your target audience and who would benefit most from the product or service you are selling.
- Preparation: Once your prospects are chosen, you need to do your research to ensure that you know everything you need to know about them to present a successful sales pitch.
- Approach: Having concluded your research, it is now time to approach your prospect to ask for a more formal meeting.
- Presentation: This is when you pitch your business to the potential client, providing them with all the information they need.
- Handling objections: Objections are to be expected. It is your job to deal with them in a professional manner while persuading the prospective client that you can deliver what they need.
- Closing and follow up: Once all obstacles have been dealt with, it’s time to close the deal. Once an agreement has been made, make sure to send follow-up emails and stay in touch, as this business relationship could lead to new connections.
The best sales closing techniques
With oversaturated markets in virtually every industry, you need to capitalize on promising opportunities. This involves closing as many deals as you can. In order to improve your sales performance and help you close deals, we created a list of tips and sales closing techniques.
Assuming that the client is ready to make a deal can really work in your favor. This is a sales strategy that many shy away from, wrongly assuming that it is too pushy and will deter potential clients. In reality, however, if you assume a client is ready to close a deal and you’re assertive with them, it will give them the push that they need to close. This technique allows you to create positive associations between your client and your business. You make them think that they were already on the brink of saying yes before signing on the dotted line.
It is often the case that clients are on the fence about committing to investing in your business. Even when you have given the best sales presentation, if what you are offering is not what they want, they will not close the deal with you. That is why you should always have an alternative option up your sleeve. Assess what it is that’s stopping them from committing to your business, and see what you can do to accommodate their needs.
Create a sense of urgency
Urgency is key when it comes to closing a sales deal. If you make a prospect believe that it is now or never, they are going to be excited about buying whatever you are selling. Creating a sense of urgency creates a sense of exclusivity. Make them believe that this is the best time to invest in your business, and doing so now will ensure that they get the most out of their investment. Time is on your side, so use it to your advantage.
Lay out pros and cons
When you present your client with a list of pros and cons of what you’re selling them, not only can they see everything in black and white, but they will also respect you more for your honesty. With this respect comes trust, and with trust comes closings. However, you need to be mindful that this only works if you can list more pros than cons. In other words, even the most brilliant sales strategy won’t be able to help you if you didn’t have a good product to begin with.
Everyone loves a freebie. Therefore, if you are able to offer one to new clients, do it. You don’t have to offer every prospect a freebie, but if you have someone who is on the fence about investing, giving them something small for free might be what they need to tip them onto your side. Offering a free service or product as part of the deal can make clients feel special, and communicate to them that they are getting more than what they are paying for.
3 tips to close a sale
While knowledge of sales techniques can help you close deals, you should always be aware of the larger picture. In other words, you need to be intuitively immersed in the sales process. Below are some sales tips to convert qualified prospects into sales.
Build a solid sales team
If you are a business owner looking for tips to improve your sales statistics, the number one thing you need to think about is creating a strong and coherent sales team. It is important that your sales representatives feel supported, and the only way to do that is to build a team that genuinely works well, at the individual level as well as collectively. From your sales leaders to newly trained employees, everyone needs to contribute to each other’s success. Creating a solid team will also help ensure that everyone works together to bring in future prospects to build your client base.
Think about the customer
It can be tempting to get swept up in the excitement of the deal but it’s important to remember that customer interactions are at the center of everything you do. You should always be thinking of what the customer wants to meet their needs and expectations. The customer experience is not only a big part of closing a deal but also a big part of getting more deals. Leaving a positive impact on clients will encourage them to recommend you on future occasions.
The number one sales skill that you need to master is the ability to stay calm. From the moment you contact your prospect to the very end of the deal, it is your job to ensure that you maintain a composed demeanor throughout. Regardless of how infuriating your sales conversation might be, keeping calm is a necessity. If you lose your cool, your prospect will form a negative opinion of you, which is a bad starting point and one that is nearly impossible to come back from.
What to do after closing a sale
So, you’ve closed your sale! What do you do now? Is your job done? No, it’s not. In fact, it’s just starting. Although closing the deal is the main aim, it’s also your responsibility to follow up with your new clients. You need to foster this new business relationship, as it can lead to new connections and future sales. You should also regularly check up on your clients to see if your product or service is working for them, and keep them in the loop about any updates or new packages you are offering.
Finding prospects and closing deals is essential if you want your business to succeed. TelUp understands how difficult it can be to master a marketing strategy that converts prospects into actual sales. This is why we offer telemarketing services.
Strong telemarketing services can make the difference when it comes to growing your sales and attracting new clients to your enterprise. TelUp’s expertise can help you generate more sales and streamline your operations with its lead generation services, customer acquisition and appointment scheduling services. We also offer outsourcing services to help you find the best sales representatives.