Different types of sales closing techniques and why they work
10 minutes read
Just like how doctors take an oath before they begin their practice, sales professionals also take a secret oath before starting their sales career. They take an oath that they will “always be closing”.
But what does it really mean to ‘Always Be Closing‘? Does it mean that you have to be an aggressive salesperson perpetually pushing your prospective customers to close the deals?
You could be,
- A relationship builder, and believe in developing strong personal and professional relationships with prospects
- Or a hard worker who is always willing to go that extra mile for the customer
- Or a lone wolf who likes to do things your own way (a rule-breaking cowboy)
- Or a problem solver focusing more on customer service
Irrespective of what kind of a sales rep you are, it doesn’t make you a great one if you haven’t mastered the art of closing. The months or weeks of hard work put into prospecting a client will go down the drain if you don’t close the deal.
Closing is the final stretch you need to cross to bring home the bacon. At SmartWinnr, we look at the sale closes as more of a science than art. Because in order to close a deal successfully you need to know,
- The amount of nurturing that you need to do before closing a sale
- The right time to push the close
- The right way to approach the close etc
In order to help you learn this science of closing, we have brought to you various sales closing techniques that will help you not only to close deals faster but to close them more efficiently.
Sales Closing Techniques
1. Now or Never Close
In this sales close technique, salespeople make an offer that includes a special benefit that prompts immediate purchase.
- “This is the last one at this price.”
- “We’ve got a 20% discount just for customers who sign up today.”
- “If you commit to buy now, I can fast track you to the front of the implementation queue.”
Why this technique works? This technique works because it creates a sense of urgency. It can help overcome inertia when a prospect wants to buy but for some reason isn’t pulling the trigger.
It’s also a tried and true method for closing a sale over the phone/ virtual call/ an in-person meeting because you have the customer’s undivided attention in real-time. Of course, you should always establish value before offering a discount or promotion.
2. Summary Closes
In this closing technique, salespeople reiterate the items the customer is hopefully purchasing (stressing the value and benefits) in an effort to get the prospect to sign.
For example: “So we have the [brand name] washing machine with brushless motor, the 8-year comprehensive guarantee, and our free delivery and installation service. When would be a good time to deliver?”
Why this technique works? By summarizing previously agreed-upon points into one impressive package, you’re helping prospects visualize what they’re truly getting out of the deal.
3. Sharp Angle Closes
Prospects often ask for price reductions or add-ons because they know they have the upper hand and they also know that you expect it. If you have approval from your sales manager to do so, try the sharp angle close technique to catch these prospects by surprise.
Why this technique works? The surprise factor in this close is the main reason why this works. It’s likely that your clients won’t be expecting this response. First, because you agreed to their request. And second, because you’ve proposed closing the sale that day itself.
4. Assumptive Closes
This closing technique draws on the power of positive thinking. It requires you to believe from the first piece of email outreach that you will close this deal. This can have an incredible effect on the rest of the sales process.
What’s important here is for you to closely monitor your prospect’s interest, engagement, and objections throughout.
Why will this technique work? By keeping a good intent from the start in the sales process, you’ll bring authority and direction to the process that wouldn’t be there otherwise. And this positivity is going to increase, to a great extent, your chance of closing the deals.
5. Take Away Closes
When a toy is taken away from a kid, they’ll want it more than ever. Use this similar psychological practice on your prospects.
Why will this technique work? When you use this approach, it’s likely that they’ll be thinking about the part you removed rather than the discounted price. And after that, whether they agree to take the discounted version of the product or the full version of the product, it will be a win-win for both of you.
6. Soft Closes
The soft close is a way to show your prospect the benefits of your product and then ask a low-impact question to ascertain whether they’d be open to learning more.
Why this technique works? This way you will be able to slightly remove their need to commit to you. And this also gives you more time to learn about the customer’s business needs.
7. Puppy Dog Close
It’s one of the simplest, yet most effective sales closing techniques.
Why this technique works? The actual feeling of possessing or trying the thing they like makes them happy and satisfied. As a result, they will want to buy it from you.
8. The Ben Franklin Close
Historians say Ben Franklin made decisions in the following way: he created a list with two columns (pros and cons) and based his decision on the longer column.
In a similar way, if you have clients who are analytical by their nature, you’ll benefit from compiling lists of your product’s advantages (and disadvantages too) and then letting your customers make their own decision based on their priorities and preferences.
Why this technique works? By letting buyers evaluate the pros and cons by themselves, you eliminate their reasons for not buying your product. Plus, the Ben Franklin close technique acts as a need vs. want checklist. If your offering covers all (or most of) their needs, you have a good chance of making a sale.
9. Empathy Close
Not every deal has to be closed using leverage or pressure.
Sometimes it’s good to take the empathy route.
The Empathy Closing technique allows you to use emotion to understand the situation that your prospect is in.
Why this technique works? Empathizing with your prospects can help build a special bond with the prospect which can be useful in the long run.
10. Hard Close
This one is exactly what it sounds like: the high-pressure, high-intensity “hard” close that’s long been associated with salespeople.
Why this technique works? This technique of directly pushing someone into buying is a real tough challenge, especially for a newbie. It requires tons of courage and confidence from the sales rep but when used tactically on the right customer at right time, it will surely yield good results.
11. The Objection Close
Once you have made sure that your prospect has understood everything about your product and what it has to offer, try closing the deal by asking them for any objections they might have with the product.
Why this technique works? This approach allows the prospect to raise any final objections or doubts that they need to clear up without saying no to the deal.
12. Take away close
Consider this scenario: you’re on the verge of closing a deal, but the customer is reluctant to proceed at the last moment. He/she has suddenly come up with complaints in order to drive a bargain.
A novice salesman here would comply with all their complaints and offer whatever they ask in the hope of closing the deal. On the other hand, an experienced salesperson would play a simple reverse psychology trick on the customers called “The Take Away Close”.
Why this technique works? The reason why it’s effective is– letting go of a potential client shows how confident you’re in your product. This gets the prospect to reconsider the good product that he/she may be missing out on.
Want to learn about the sales close rates across various industries? Check out this blog below:
Here are 6 sales methodologies that help in closing complex deals
Learn how puppy dog close technique helps you to easily close more sales
Here is a sales cold calling script for SDRs
Learn about the open-ended sales questions that you can ask to get your prospects talking
Learn how to build rapport with your prospects virtually
Here is an ultimate guide that helps you practice active listening in sales
Learn about the sales and marketing qualified leads and what is the right way to pass them from the marketing team to the sales team
Learn about the goldilocks effect and how it helps to close more sales
Learn about the techniques to successfully upsell and cross-sell
Learn how to overcome your prospects’ resistance
Learn about various buyer personas and how can you customize your selling style to appeal to them
Here are some important skills that you absolutely need to have in order to ace remote selling
Published on Tue May 17 2022