One of the most important stages of selling is actually closing the deal. With so many changes happening globally it shifts the way consumers are purchasing. The economy is a roller-coaster and right now it’s downsizing, Canadian’s are outsourcing more from other countries, unemployment has increased, gas prices are half of what they were last year this time and it doesn’t seem to be rebounding any time soon. But in history, a downturn only created harder workers, more entrepreneurs, unconventional methods of selling, explosive growth in other industries, tons of new products to market and most important a new trend of buyers. Now is one of the best time to create opportunities as conventional methods of selling is blasé and in reality customers have so much more competition to choose from.
Handshakes are meaningless in today’s day and age and that is why getting that ink on a contract is more important than ever. With that being said, there are many closing techniques in sales and I had the honour to ask sales expert, trainer and speaker, Jordan Laporte of Davis Chevrolet in Airdrie, the 300+ car selling machine, what he does to close effectively, deal after deal. So whether you’re a startup or an established entrepreneur, here are Jordan’s 5 best tips for the wise for reaching an agreement with your buyer:
1. Set Your Intention
One of the first things you need to do when you meet with a prospective client is make your intentions clear. Define to the client the purpose of the meeting right in your introduction. And what is that purpose? It’s to do business and get the client to purchase your product or service. You’re not there to just educate, you’re not even there to sell; you’re there to close. By being explicit in your intentions, you not only firm the purpose of the meeting in the client’s mind, you make it clear to them that you’re not there to mess around – you’re there to do business, and you take your business seriously. If you’re unsure of how to proceed with being explicit, try something along the lines of, “my only goal is to get my product/service in your hands by the end of the day.”
2. Conviction Is King
As a salesperson you need to be 100% sold on your value proposition. You need to have complete and total confidence in your value as a salesperson, as well as the value of the products or services you’re selling. If you’re uncertain as to your value as a salesperson, or the value of your products or services, then your prospect will be even more uncertain – and rightfully so. If you don’t believe your product is the best in the marketplace, then you need to be selling a different product. True conviction is not something you can fake. As a salesperson, you need to be so certain of your offering, to the point that you consider it to be a disservice to let your prospect walk away without your product or service.
3. Understand That The Close Is For The Client
The close is not for you – the close is for the client. Obviously converting a deal puts money in the bank for you, but more importantly it solves a client’s problem. The sooner you realize that your client is your customer who’s come to you to fill a need, the better. By making the relationship about your needs, that is, by focusing solely on the close as opposed to exactly what the client needs to receive in order to facilitate that close, you’re not doing business, you’re gambling. You’re gambling on the hope that the client will understand on their own how the product will meet their needs, as opposed to showing them exactly how it fills those needs.
4. Ask Early, Ask Often
Too many salespeople oversell. They focus on selling instead of closing and, as a result, they keep selling even though the client is ready to close. The easiest way to overcome this issue is to simply ask the client if they’re ready to close the transaction, and ask them often. Insistence will be required on 90%+ of the deals you close, meaning you’re going to have to ask, and you’re going to have to ask more than once. If that’s the case, then why not ask early? Make your initial pitch and explicitly ask the prospect if they’ve heard enough to make a decision. If they’re not ready then give them more of the missing data, information, support, or encouragement they need, and ask again.
5. Always, Aways Present A Written Proposal
The fact of the matter is you have no chance of closing a deal if you have not presented an actual proposal. A formal proposal serves multiple purposes; it adds credibility to the deal, it holds you accountable to what you’re offering as a salesperson, and it greatly aids in a client’s understanding of the terms, figures, and facts – especially if what you’re offering is complicated. Sounds simple doesn’t it? Despite the effectiveness of this simple action, 80% of salespeople fail to do this consistently. You will be surprised at how many prospects will close on a deal once they have all of the terms in front of them and are able to make sense of and justify the purchase.
Prepare for objections, but stay sold on what is best for the buyer – which is to move forward with you and your offering.