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Four Simple Methods to Closing More Sales

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Written by Bill McCormick
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Closing Skills in a Down Economy

If you have not been “doing” active business generating activities long before this economic slump began, start doing them now in time for the next economic bump in about 7 or 8 years. Closing skills aren’t brought to the table overnight. Unless you are one of those lucky few who inherit a book of business, or win a big case with lots of accompanying publicity, or complete a merger in record time, potential clients are not out looking for you.


Yoda, that great guru from Star Wars, had the perfect message for those looking to land new engagements in a tough economy:

 

                                    “Do it. Don’t Do It. Don’t Try.”       

 

And if you have not been “doing” active business generating activities long before this economic slump began, start doing them now in time for the next economic bump in about 7 or 8 years. Closing skills aren’t brought to the table overnight. Unless you are one of those lucky few who inherit a book of business, or win a big case with lots of accompanying publicity, or complete a merger in record time, potential clients are not out looking for you.

 

Clients frequently ask me what are the most important sales closing techniques to master? And my answer is always the same - build relationships with:

 

  • A Future Client

     

  • An Existing Client.

     

     New business only comes from three sources:

     

    • An Existing Client

       

    • A Referral From an Existing Client

       

    • A New Client.

       

      Assuming the last several years have included time working on growing relationships with current clients, having some additional prospects in your sights, and continuing to develop new contacts, business development consultants would count you fortunate. But for those with no business development training, no access to business development consulting, no mentors to instruct and little familiarity with sales closing techniques, what can you do?

       

      Bottom line answer is get busy now and prepare for the next economic downturn.

       

      Let’s start with that old marketing bromide, “Know where they go, what they read, who they know.  If your practice specialty (s) is focused on specific industries, speaking at those conferences is essential. Maximize your investment in preparing and presenting the speech by asking a client to be on the panel with you.

       

      Triple your investment by converting the speech into an article published in the target industry’s association publication. And here again, ask a client to co-author it with you.

       

      Asking clients or strong prospects to participate with you is a positive business development tactic. These are 2 of the 3 bromide segments: go where they go, read what they read.

       

      For the third segment, know who they know, note that the single best form of closing new business is success for a client i.e.: a big win, a successful settlement, a smooth acquisition, etc.  Not only celebrate with them, but ask to “brainstorm” with them and colleagues from other companies, or with their own internal team.

       

      Client retention is strongest when relationship building is 2-way, as this article suggests; give something and ask for something.  If you do not have current leads to exercise your closing skills, begin building for the future.



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There are over 9 million results in a “secrets to closing” google web search.  And, no, this article isn’t about the top 4 hidden secrets to closing more sales. That is because we don’t believe that there is some special magical mystery to being effective at closing more sales. The challenge (not secret) lies in having the perseverance or following through to use a system that works. This article will highlight four simple and straightforward methods or choices used by sales professionals to close more sales. 

Four Simple Methods to closing More Sales
Depending on the type of product/service that you sell and the duration of your sales cycle, you may find that some of these methods work better for you than others.  Pick and choose the method that fits best for your business and sales approach.  Please also keep in mind that you often can combine two or more of these methods in the same conversation with a prospective customer.


Method 1 — Highlight the main benefits for a particular customer.
For example, one of STAR’s clients sells a service to retail establishments and simply says to prospective customers, “…if you use our service, your traffic will increase.”  This same client calls this approach Name That Tune selling for the simple reason that it only takes a few seconds to communicate the main message to the client.

Most sellers would sell more if they followed the same advice. When you state the main benefits for the client, say it clearly and concisely. Pause and let the prospective customer react.

Method 2 — Reassure the customer by citing relevant testimonials and references.
This method works well if the prospective customer hasn’t heard of your company or hasn’t used a similar product/service.  Testimonials are worth their weight in gold.  The key to success is to cite testimonials who are similar to the prospective customer’s business.

For example, it is fairly common for new prospective STAR clients to find us by searching on Google or Yahoo, and then contacting us for more information. When we speak with clients who don’t know us, we will usually say something like “…even though you haven’t heard of us, I’m sure that you’ve heard of some of our clients”. We will then cite relevant clients that the prospective new client can relate to.

Method 3 — Offer two or more alternatives to the customer.
When you only offer one solution to a customer, the only possible response is to say yes or no. Whenever possible, offer two or more alternatives and ask the customer to choose the one that is best for them.  A good way to phrase this is say something like “…based on what you told me about your needs, I think that these two products/services would work well for you. Which would you prefer?”

There are several advantages to offering alternatives to a customer. It doesn’t come across as pushy, lets the customer pick the product/service/option that works best for them, and shows the customer that you are trying to provide something that truly meets their needs.

Method 4 — Offer a guarantee or make a concession.
One of our clients believes so strongly in their product that they guarantee it will work for their new customers.  If the prospective customer isn’t satisfied with the product, they will offer a replacement product at no charge. We realize that offering a guarantee doesn’t apply to all sales situations, but imagine how powerful that statement can be to help you close more sales. How can the customer say no when the guarantee negates most of the risk to the client?

If you can’t offer a guarantee, you can generate a similar positive effect by offering a concession instead.  For example, tell the customer something like “…if you’re willing to try our product/service, we will do the following …” Then, offer to make a concession on something that the customer values but isn’t high cost to you. Some examples: extended warranty; post-sale technical support; customized packaging; consultation or advice from your organization to the client’s organization.

Bill McCormick
About the author:

Bill McCormick is the founder and president of Sales Training And Results, Inc. (STAR), (www.salestrainingandresults.com) a firm specializing in customized sales training and consulting. STAR has worked nationally with thousands of employees and managers in a wide range of industries, in both the service and manufacturing sectors. Bill is the author of STAR’s monthly newsletters, sales articles and blog, all of which cover many practical sales skills tips and tools for anyone who comes in contact with the customer, from the customer service representative to the key account manager.

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