Best Closing Techniques for Sales and Why They Are Successful
Feb 01, 2023
13 min read
Closing a deal is the final step of the sales cycle and the most important one. A salesperson has completed multiple steps to get to this point. Now, it’s time to finish the sale for good.
Over the years, sales reps have used tried and tested methods to ensure that all their research and efforts are fruitful at this final stage. While there is no way of avoiding the risks of closing deals, various methods encourage a prospect to say "yes" and make an agreement official.
The sales tips listed below help reps save time and earn more money without worrying about what might happen toward the end of the sales cycle. While some of these methods may seem too "salesy," they offer insight into what the customer really needs and how the rep can help them.
Create a Sense of Urgency
Many times, a prospect may be just on the verge of making things official but is still hesitant about your products and services. Perhaps they still can’t see the benefits of your offerings or are worried about pricing, even though your rep has successfully nurtured the prospect. Your rep should give the prospect a gentle push toward completing the transaction.
The best way to achieve this goal is to create a sense of urgency. By placing a time limit on an arrangement, the prospect is more likely to enter into an agreement. It’s that simple. Here are some of the things your reps can communicate to potential customers at this final stage:
- "Get 20% off if you sign up today" (also known as the takeaway close)
- “This deal will only last for another seven days” (takeaway close)
- "Get the added benefit of a free product or service if you make the purchase today" (also known as the now or never close)
Although these phrases might sound pushy, your sales rep should have the skills to create a sense of urgency without "hard selling." Using the right tone when explaining that a deal will expire shortly shouldn't frustrate the prospect but encourage them to take swift action. Doing so will prompt the prospect to reevaluate your offer, realize they need your product or service, and commit to an agreement.
More advanced sales reps and sales managers in your contact center will have experience in creating a sense of urgency to close deals. Junior reps should shadow these team members to learn how to turn prospects into bona fide customers. Alternatively, invest in training so all reps can learn how to complete this final stage of the sales process. Closing sales is a skill learned over time; only the most qualified reps can master it.
Use Digital Tools
Knowing the prospect inside out can close more deals. The right digital tools provide sales professionals with in-depth information about leads so they can execute their preferred closing strategies.
Take a customer relationship management (CRM) system. This powerful software stores information about potential clients and customers at every stage of the sales funnel. The information contained in a CRM is invaluable for sales closing techniques because it reveals customer pain points, customer needs, purchasing behaviors, purchasing decisions, and other factors that can close a deal. No modern sales team can exist without a good CRM.
Analytical CRMs take sales closings to the next level. These systems generate customer insights at different stages of the sales journey, helping reps identify the most valuable prospects interested in your products and services. Learn when prospects will convert into customers and which leads will provide the most lucrative closing opportunities. Analytical CRMs are one of the most important additions to any tech stack for a sales team because of the real-time metrics and key performance indicators (KPIs) they generate.
Not all analytical CRMs are the same, mind you. Invest in one that connects with telephony software so you can automate inbound and outbound calling tasks and gather information for closing during every sales call. Also, pick a CRM that adheres to GDPR and other data protection legislation, helping you avoid hefty government penalties when gathering and processing sensitive customer information.
Catch the Prospect by Surprise
Most prospects will try to haggle and get a better deal pre-closing, and this is something all your sales reps should expect. Instead of going back and forth with the potential customer, reps can say something like, “Sure, I will offer you the discount/added benefit, but only if you close the deal today." A phrase like this might take the prospect by surprise!
Likely, the prospect won't expect the rep to agree to their demands, so this element of surprise can definitely work in your favor. The rep has met the prospect’s requests, and the prospect is likely to enter an agreement at that very moment.
While this scenario won’t always happen, sales reps can surprise prospects by agreeing to their requests, and close deals more quickly.
This tried-and-tested sales technique is an example of a "hard close" because it requires an immediate response from the potential customer. (A soft close is one where the potential customer believes they are closing a deal themselves without pressure from someone else.) It allows the rep to maintain control of the conversation and guide the prospect to the finish line without using additional sales closing techniques.
Stress Value and Benefits
Sure, your reps have showcased your products or services countless times before the closing stage. But sometimes, prospects need just a little more convincing before they enter into an agreement.
Before using sales closing techniques, reps can summarize your offerings one last time and really stress their value and benefits. At this point in the sales cycle, potential customers need to be 100% sure they are making the right decision. Reps should list the most important product features or service offerings and explain what makes your brand different from all the rest.
Here’s an example:
"You are interested in the 52-inch television with a thin frame, wall mounting, and ultra HD picture clarity, as well as our company's free installation and two-year warranty."
This phrase (also known as a summary close or summarizing) highlights the features of a new TV, the value it will provide to the prospect, and the benefits the prospect will receive. It creates an impressive package of all the advantages the potential customer will get and help reps finalize a deal faster.
Take the Offer Away
When someone takes something from you, you want it more than ever. So when a prospect asks for a discounted price, reps can take away a few features or product offerings instead of resisting or trying to haggle. Instead of thinking about the discount, the prospect will be concerned about what they might miss out on!
Say you sell electronics. The prospect is interested in a laptop but asks for a price reduction over the phone. At this point, the rep can offer the laptop at a reduced price without any of the service offerings or free add-ons that come with it. Those offerings might include a two-year warranty, anti-virus software, and free customer support. The prospect might think differently about the reduction and agree to the original price either on the phone or at a later date via email.
Ask a Question
Any efficient sales rep will try to close the deal as soon as possible. That is only possible if they truly understand their prospective customer's needs and then fulfill those requirements. By asking probing questions, the rep can get closer to this goal:
- "Does the product I offer solve your problem?”
- "Is there anything in this deal keeping you from finalizing it?"
- “Can I do anything else to close this deal?”
If these questions produce a "yes" from prospects, reps can ask follow-up questions to fully understand the prospect’s need and revise the deal. If these questions generate a "no," the prospect is close to signing the dotted line.
Use the Assumptive Close
The assumptive close is one of the best sales techniques for closing deals. It involves reps assuming a prospect is ready to commit to a deal and using phrases based on this assumption.
Here are some examples of phrases that assume the prospect is ready to close:
- “When can we install this new software in your home?”
- “How would you like to pay for this product?”
- “Would you like to pay for this product now or next week?”
- “What’s the first thing you will do with your new product after receiving it?”
The assumptive close is almost like onboarding new hires after they have already agreed to a job offer. It jumps to the first stage of the post-sales cycle by assuming the customer has already agreed to a deal. While this tactic might be risky and annoy customers still in the decision phase, it can move the conversation forward and improve sales momentum, making it a highly powerful sales strategy.
Use the Sharp Angle Close
Another powerful sales closing technique similar to the assumptive close is the sharp angle close. This method involves a rep throwing a customer’s question about a product or service back to them to convince them to enter an agreement.
Say a customer asks a rep, “Does this new iPhone come with a free case?” The rep can reply with, “If it did, you would buy it now?” If the customer says, “yes,” the sharp angle close has worked, and it’s almost certain the prospect is ready to complete the deal.
Use the Puppy Dog Close
The puppy dog close lets potential customers try out your offering at home before deciding whether to enter an agreement. It can be extremely effective for closing a deal because it builds a rapport with customers and lets them experience the value and benefits of your product or service with a limited-time offer.
The puppy dog close is a win-win for everyone involved. Prospects can test drive your product or service without paying for the privilege, while reps can significantly improve conversion rates.
This sales technique is based on a child who wants a new puppy, but their parents are unsure about taking on this responsibility. The owner of a pet store lets the child take a puppy home for a few days before returning it. When the child falls in love with the puppy, their parents decide not to return it to the pet store.
Closing deals is a skill that has to be acquired. Top sales reps use these simple strategies to convince prospects to enter agreements and generate a higher conversion rate. Share these effective closing methods with sales teams and decision-makers in your organization and create more effective sales pipelines.
How FiveCRM Can Help With Closing
Sales reps will always be closing deals, but the latest CRM technology can make this process easier. FiveCRM is a CRM system for telemarketing that provides sales teams with the information they need to convert prospects into genuine customers at this final stage of the sales process.
Successful closing starts with collecting information about potential customers during every touch point and adding this data to customer profiles in FiveCRM. The platform’s customer relationship management features generate a 360-degree overview of customers, helping your agents learn more about the interests, lifestyles, behaviors, and purchasing behaviors of prospects.
FiveCRM's analytical tools then help reps find the potential customers most likely to convert right now and in the near future. Reps can focus their efforts on these prospects and use the sales closing techniques listed above to boost conversions and complete the sales lifecycle.
Here are some other benefits of FiveCRM for closing:
- FiveCRM's performance features track performance in your organization and identify agents that require more training. That can help you improve sales closing techniques and enhance customer experiences, which can result in more sales, more referrals, and more positive testimonials.
- Specialized marketing tools discover high-value leads in pipelines, so agents can spend time nurturing these potential customers for closing.
- FiveCRM comes with up to 999 databases and unlimited data storage, helping you reach your data management goals. With better data management, reps can focus on moving prospective customers through their funnels and closing deals.
- Reps will spend less time on data management and more time improving customer service, which can generate positive feedback about your company.
- FiveCRM automates call center management processes such as callbacks and workflows. The system can even automatically dial customers, reducing wasted time for reps.
- FiveCRM improves closing for reps in various outbound marketing environments, such as telemarketing, telesales, cold calling, and warm calling. The system includes all the features sales teams need to make more effective calls.
- Lead scoring tools let reps discover qualified leads interested in your company’s offerings. These leads will be easier to convert, helping you close more deals. Turn sales reps into sales experts by qualifying leads!
- Receive real-time insights about department performance and use metrics to boost customer service in your organization. By improving customer service, reps can close more deals and generate more conversions.
Other FiveCRM features include marketing automation, call routing, privacy, security, consolidated reports, power dialing, previous dialing, power dialing, and a native app builder.
FiveCRM is the CRM system that helps your reps convert more customers and close more deals. Email email@example.com for a demo, or get FiveCRM now.
Michael King says...
"I can’t think of a time where a client has requested something that we weren’t able to do with FiveCRM. Unlike most systems, it has a lot of flexibility."
Managing Director, Senior Response
JANE HUSBANDS SAYS...
“Each client, and each of their campaigns, has its own unique specifications. We essentially needed to set up mini CRMs on one platform to meet those requirements.”
Operations Director, Team Telemarketing
Start improving your outbound efficiency now, with the most customizable Telesales solution on the market.