Prospects want something that serves their needs in the most satisfying way and comes looking for these to your business. Now, it depends on your sales technique to ensure that the prospect says yes to your product.
Building a relationship with your buyer and working together are some key elements that make sure you establish a sense of credibility and trust between your prospect and you. This way they will feel more invested in your deal and secure, as you project a partner relationship with them.
After all, closing a deal is the way you make money and grow your business. But first set a goal, which is not closing a deal, instead focus on getting a response from your prospect.
“Always be closing... That doesn’t mean you are always closing the deal but that does mean that you always need to be on the closing the next step in the process.” Shane Gibson
However, if you want to master the art of closing the deal, here are some points to keep in mind when a prospect approaches you: Initiating the sales plan
|Initiating The Sales Plan|
A sales plan can serve as an impressive paradigm for the growth of your business. In simple terms, it is a set of goals and directives aimed to drive sales for your business. Depending on your requirements, creating a sales plan can be a complex task. But before creating a sales plan, ask yourself some basic questions.
Who are the stakeholders involved? What impact would your strategies have on the stakeholders?
A quintessential sales plan must include all the suggestions put forward by your prospects along with their implementation. Working out a sales plan is one of the basic things that facilitate in closing deals with your prospects. Even market strategists suggest that the sales plan can act in unparalleled ways for prospects, that are approaching your business for the first time.
“Every minute you spend in planning saves you 10 minutes in execution; this gives you a 1000 percent return in energy.” Brian Tracy
Listen to your prospect’s requirement and customize your product so that it befits the needs of your prospect as well as your brand. Another effective strategy could be that you and the prospect design the type of products that the prospects require.
Try to show a virtual representation of your actual product to the buyer before a purchase is made. If the product is tangible, show your prospects what would the customized product look like.
This would give a wonderful idea to your prospects about what would it feel like to genuinely have your product in their hands. A sense of contentment is sought to develop in the customer regarding your product and business.
A wonderful way to engage your prospects with your brand, in the long run, is to initiate a PR Strategy. Help them discover the perception of the post-purchase effect they will have, once prospects seal the deal with you.
Consider for example that you sell fitness equipment to a gymnasium. You and your prospect can collaboratively design fitness programs for people of a certain age group. With the popularization of digital media, working out on such programs can be an easy thing to do.
This will help your prospects visualize the areas they can work on, after purchasing your product and the benefits they can derive from it. Try to work out a regular advertising plan, so that your prospects get to use it in their professional endeavor, which can also turn into a great way to become partners with your prospects.
Suppose you sell a mission special tool in the market, such that your prospects have to adapt accordingly and employ their staff devoted to your tool. You can provide your services to your prospects in this case, by familiarizing the prospects with your tool in a hassle free manner, through a special tool implementation program.
Engage your prospects in a multi-week implementation project for a better understanding of your tools and software to develop a sense of partnership between you both. By the time, you reach a step closer to close the deal with your prospects, your product would seem to have dwelled in their needs.
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Objections and problems are an inseparable part of the buying-selling process. The customers might have a certain dilemma with whatever they are going to purchase. A display of ownership and maturity in such situations is a recipe for a healthy customer relationship.
If you believe that the prospect’s objection can be easily fixed, then committing in advance to the customer can be a better option. Handling an objection effectively can be a smart way to close your deal with your prospect.
Try to come to a mutual understanding with the customer in case the objection needs some extra time to get sorted. This could be a clever move to engage your prospects and turn a disadvantage into an opportunity.
Lend a helping hand to your prospects as it can act as a strategic prospecting process. Dave Kurlan closes his bestselling book, ‘Baseline Selling’ by the line “Would you like my help?”
Offering help is a polite and compassionate way to start closing the deal with any customer. It also leaves a positive and deep rooted impression of your business along with projecting your image as an advisor rather than a professional salesperson.
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Freebies are something that always compels prospects towards your brand and products. Ask yourself, that if you offered the customer a freebie, would the prospect sign up or close the deal with you. Offer discounts to achieve an extra edge, in an excessively competitive market.
Price discounts can be a smart strategy if served for a short period of time to create a sense of urgency. Hence, depending on your business, discounts, and freebies can be offered accordingly.
Hubspot's Website Grader is a great example of a Free service:
When placed with choices, it has been observed that customers usually opt for options rather than saying a complete no to them. Your brand has a probability of much higher and significant sales if you place different alternatives for your customer in place of giving them your single best option.
Chances are you might get a ‘yes’ for something rather than ‘no’ for everything. Ask your prospects whether they would like to go with product ‘A’ or product ‘B’.
Understanding the needs of your prospects is one the elementary things you need to understand when trying to close deals. Know their goals and expectations as it is the only way you will understand what they are looking for. Then carefully select the befitting product out of your brand that suits the requirements and needs of your prospects in the best way.
Be an adviser and suggest what would work out most suitable in their situation. Sometimes buyers are not exactly sure what to expect, that is when you place your best bet. Say that, you think Product X will suit them the best or Product Y has worked excellent in a situation like theirs, with past selling experiences. Also, focus on customer service excellence.
“If you listen better, you will sell more.” Jeffrey Gitomer
Know your prospect’s timeline about their purchase. Prospects might get in touch with you for all sorts of reasons; they might be in information collecting stage or have a query to ask. If they are collecting information to make a deal with you in near future, ask them about the timeline for which they want the data.
It can be a week, month or just days. Don’t be afraid to ask questions even they are blunt as most of the prospects like to answer directly and precisely. Before initiating a deal, ask your prospect questions regarding their budget that will give you clear insights of what to serve them.
Closing deals with the prospects form a part of the strategic prospecting process, which might take weeks before it can be finally sealed with the prospect’s satisfaction. Thus, share any upcoming information relevant to your brand or product with your prospects, to keep them engrossed in your business.
For example, share any technological advancement in your product or a new study that tells how the product will impact your prospects. Or you may share any changes in the law that will impact the way of the prospect’s technique of advertising.
All these help you establish a hold over your prospects and give them a sense that you are well connected with the changes taking place in the market.
“Sales are contingent upon the attitude of the salesman, not the attitude of the prospect.”- W Clement Stone
The mantra for closing deals begins with targeting your ideal prospects and working out a sales plan to collaborate with them. Make your prospects say ‘yes’ or ‘yes’ by making ethical and right calls for sales. Once the sales cycle is begun, you never know how new opportunities might come crawling.