How To Close A Sale Effectively

Closing is the last step of the sales process, and if your sales people do not know this, then all the other steps would have been wasted. Having already reached this late stage, your company will not only lose a golden opportunity, it will also lose its investment in time and effort.

Knowledge of closing is important not only for salespersons but also for managers, entrepreneurs, and other people who, at some point, may need to do some selling. Closing skills are also useful in negotiations and in management. In negotiations, you are selling your negotiating points. And in management, there are plenty of uses, especially in selling your ideas.

To get you started, here are some tips to improve your closing average:

Have a thorough preparation. Have all the materials and forms you may need in case the client agrees to buy from you. Make sure of the availability of the product you are selling as well. Consider the suitability of the venue—it must not be too noisy for serious conversation. With good preparation, the closing becomes much smoother and likely.

Be a good listener. Listen not only to the words your prospect is saying, but also assess his/her body language. This will indicate when you still have to do more convincing or whether buying signals are already clear, and that it is time to try to close. Only if you truly understand the prospects’ needs and desires would you be able to close.

Use trial closings. A trial close is a closing attempt that is really a probing technique to get useful information from the prospect. From a trial close, you may get a feel on how ready the customer is to buy. While a trial close is not expected to be conclusive, it is very possible for the prospect to already buy.

Master the appropriate closing techniques. The closing techniques are the words or approach you do in order to get the sale; these are usually already established named techniques. An example of this is the “Opportunity Cost” close, which emphasizes the amount you would be losing if you do not order. There are hundreds or thousands of closing techniques. It is up to the professional sales person to select and master by heart what is the most suitable, not only for his product, but also for his prospect.

Ask for referrals. After having gotten your customer to confirm the sale, you must not miss the opportunity to get referrals. It is at this point where there is the best chance of getting a referral, as the customer is already sold on your product or service and is more willing to accommodate your request.

Closing the sale is the most crucial point of the sales process. It is important that the ideal procedures and closing techniques be mastered to avoid losing a sale.

To know more on this topic, BusinessCoach, Inc., a leading business seminar provider, will be conducting a seminar entitled, “How to Close a Sale.” Contact (02) 727-5628, (02) 727-8860, (0915) 205-0133 or visit www.businesscoachphil.com for details.

Click here to view details of the seminar: How to Close a Sale »

*Originally published by the Manila Bulletin. C-4, Sunday, June 23, 2013. Written by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) All rights reserved. May not be reproduced or copied without express written permission of the copyright holders.