Some people say there’s a science to closing a sale, while others say it’s an art. In reality, it’s a little bit of both.
You have to be assertive without being aggressive.
You have to follow up without being annoying.
And you have to focus on customer service, without asking the customer outright what they want!
It’s a careful balancing act mastered by the top entrepreneurs around the world, and their techniques aren’t magic. You just have to get to know your prospect and keep a few tricks up your sleeve.
Here are five expert tips on how to close more deals:
1. Assume the Closing
Most of us are taught young in life that assuming anything is bad. But when it comes to closing a sale, the confidence in an “assumptive” close can make all the difference.
The assumptive close works best when your prospect meets the majority of the ideal client traits you’re looking for. You know they could use your product, but they haven’t yet agreed to the final sale.
In this closing technique, you go into the interaction with your client as though it’s already a done deal.
By assuming the deal, the client doesn’t have the opportunity to overthink their purchase or get talked into backing out.
2. Take the Deal or Leave it Forever
Psychological studies show that people love to think they’re getting a deal. They’ll use coupons on items they wouldn’t have bought anyway. They shop for sales and peruse discount aisles to purchase items they don’t need but are bargain priced.
This technique can make some buyers worry that they’ll miss out on the best deal ever.
When making a decision, many consumers get overwhelmed and are unable to make a choice. The urgency of a deal that’s almost over encourages them to buy now rather than later.
There’s a fine line to walk here, though. When offering discounts, you have to present the now-or-never deal as a gift, not as a threat or challenge.
3. Try It Before You Buy It
Dangling the carrot in front of the customer is one thing, but letting them taste it can be gold in a closing. Also known as “The Puppy Dog Close,” this technique shows the customer what they’ll miss out on if they don’t buy.
Letting your potential buyer try it first gives them the feeling of the upper hand. But if you have a great product or service, you know that what you’re giving them will sell itself.
The goal is for the customer to take the product for a metaphorical test drive and see how it makes their lives easier. Like with a cute puppy dog, they will fall in love and not want to give it back!
This works best if you have full confidence that what you are trying to sell is exactly what the client is looking for.
4. The “In Summary” Approach
In high school, they teach you to structure your research papers with an introductory beginning, a detailed middle, and a summary at the end.
You can use the same approach in sales, especially in deals that take place over an extended period of time.
Your first meeting is the “introductory paragraph,” where you and the client get to know each other.
You follow up the intro with the selling points, including details to grab the client’s attention. Sometimes, it takes a while to go in depth and answer all of the prospect’s questions.
Then, you have the summary, or final meeting, where you remind the client of everything you discussed in one short, succinct “paragraph.”
This technique is used in sales to remind the client of the full value of your product or service. Focus on the particular benefits that you know appeal to the client.
Then, finish your summary with a closed-ended question:
When would you like to start using your new product?
5. Overcoming Objections
Sometimes, you know the client wants to buy, but they have one pesky objection stopping them. It’s sitting in their head and you know it’s there, but like the proverbial elephant in the room, it doesn’t get brought up.
With the Sharp Angle close, you can cut to the point and take care of that concern quickly. Summarise everything you discussed in a short review, then ask for questions. As you wind down to the close, give them an opportunity to bring up their objections so you can clarify them.
This may be the time where they try to negotiate to get a better deal. It’s best if you know ahead of time what you are willing to give them and what you have the authority to offer.
Then, before you agree to their terms, let them know that you have to close the sale on the spot in order to give them the deal they want. This is the “sharp-angled” part of the Sharp Angle technique, and it works very well for some sellers.
Closing a sale is never the same for two different people. As soon as you start to get confident in your technique, it can come across as cocky and cost you your closing.
Getting to know the potential client requires a bit of psychology and some negotiation skills. But if you master these techniques and learn when to use them, you’ll have no trouble closing more deals.
Angus Flynn is the business manager for Villa Bel Air. With over five years of experience in the multifamily apartment industry, he is one of the most dedicated managers in his field. He loves to help others and takes great pride in working in a community that so many love to call home.