7 Strategies for closing deals quickly and effectively is the focal point of this article. Closing deals is challenging. It can be stressful, time-consuming, and uncomfortable. However, if you follow these 7 strategies, you won’t have to worry about closing deals any longer!
Establish trust.
Establishing trust is the foundation of a successful business relationship. To build trust, you must be honest and open about your intentions, capabilities and plans for moving forward with your customer.
Here are some examples of establishing trust:
- Be open about your goals and objectives–and don’t be afraid to share those things that may not seem directly related (for example, if you have children at home who depend on their parents for support). If you’re working with an individual or company whose values align with yours regarding family life or charitable donations, then let them know! This may help them feel more comfortable working with someone they know who shares similar values as themselves. And remember: Honesty goes both ways; if any issues are preventing either party from progressing forward with each other (for example, lack of financing), then both sides must communicate these obstacles openly so they can work together toward finding solutions without wasting time trying unsuccessfully through trial-and-error methods first instead.”
Ask questions.
When you’re in a sales conversation, asking questions is essential. The more information you can gather about your customer and their needs, the better off you’ll be when it comes time for them to decide.
Ask open-ended questions that are designed to elicit more than just “yes” or “no” answers (e.g., “Tell me about your biggest challenge around technology adoption?”). Open-ended questions give salespeople opportunities for follow-up inquiries and deeper insights into potential solutions that would otherwise be missed if they asked: “What problem do you have?”
Create urgency.
- Use words like “now” and “only.” The term “now” makes customers feel they must act quickly, or else they might lose out on a great deal.
- Use the word ‘first.’ It’s great to be among the first people in your industry to offer a new product or service, and you can use this fact to create urgency by telling potential customers that they’ll be getting something no one else has yet–and soon!
- Use the word ‘best.’ Let them know if your company offers better products or services than competitors! You can also point out how much cheaper/easier/less time-consuming working with you would be versus going through another business person who doesn’t offer anything unique or extra special (like yourself).
Use the “but” close.
The “but” close is a powerful closing technique that can help you overcome objections, build rapport, and make the sale. The name comes from the fact that you will be using the word “but” in your question or statement.
The “but” close works by asking a question that seems to have an obvious answer but then follows up with another question or statement that changes everything. For example:
- You’re trying to sell someone on your product or service, and they say they’re not interested because it costs too much money (an objection). You could respond like this: “I understand where you are coming from — nobody wants to spend more than they need to.” Then ask them another question about why it’s so essential for them to personally (or for their company) if we could get this done at a lower cost.
Offer a concession.
Offering concessions is an excellent way to close a deal. You provide benefits to the customer in exchange for their business, and they should be designed so that it’s more valuable for them than the sale itself. For example, if your product costs $2 per unit, but you know that your customer buys products at $1 per unit elsewhere, offer them an additional 10% off as part of your concession package–that way, they will still save money while buying from you!
When offering concessions, make sure they are valuable enough that customers will take advantage of them; don’t give away things without getting anything back in return!
Use the “because” close.
You’re going to have to use the “because” close. It’s just that simple. So many salespeople fail because they don’t understand this concept or don’t want to use it because it sounds too pushy and salesy
But here’s the thing: if you’re going in with a low-pressure approach, your prospects will naturally ask themselves why they should buy from someone who isn’t pressuring them (which is precisely what you want). And when this happens–when someone asks themselves why they should buy from you–you need an answer ready!
So if someone asks me why I should buy my product or service instead of another one like it, my response would be something like this: “Because our company has been around for 20 years and has built up an excellent reputation among our clients; we’ve seen first-hand how our products help companies like yours succeed.”
Ask for the order before you leave their office or home.
As you’re wrapping up the meeting, ask for the order. “So, do we have a deal?” If they say no, ask why not and work to resolve their concerns. Suppose they say yes, congratulations! You’ve closed another deal and made some money in the process.
Closing deals is complex, but these 7 strategies can help make it easier
While closing deals is complex, it can be done. These seven strategies will help you close sales faster and more effectively than ever.
These are proven techniques that thousands of salespeople have used over the years. They’re not the only strategies out there, but they are some of the best ones available today:
Bottom Line
Closing deals is complex, but these 7 strategies can help make it easier. The most important thing to remember is to be consistent with your approach and never give up–even when things don’t go as planned! As long as you focus on building trust and asking questions about what matters most to your prospect, then you’ll have a better chance at closing more deals quickly than ever before
Who am I?
I am Dotun Adeoye, a Business Growth Strategist & Author
I’ve built up my experience via serial entrepreneurship, consulting leadership roles in business growth, business development and product innovation in large companies worldwide in the last 30 years.
Today, I consult with businesses on how to sustainably grow their businesses, sustain infinite growth, and ensure business continuity irrespective of the business climate.
Hire Dotun Adeoye to Speak Virtually or In – Person at your company’s event to cover this or other topics. You can also get in touch via +44 203 097 1718 or dotun at dotunadeoye.com
