June 15, 2021
Closing deals is easier said than done. It's a long process that often involves several calls, an abundance of follow-up emails, and multiple meetings with numerous stakeholders in the hope of receiving a positive response.
But don’t worry, not closing a deal is more common than you think. As Alice Heiman, a veteran sales expert, once said, "There is no magic in closing. There are no magic phrases. Closing a deal is completely dependent on the situation". And although Ms. Heiman may be right, there are some techniques to consider to be able to seal the deal.
Let's examine three common reasons why you didn’t close the deal and the most significant challenges and obstacles that arise, and then we’ll review some tips to improve your closing skills and avoid these mistakes like the boss that you are.
1. You do not understand what the prospect really wants.
To close more deals, figure out what payoff your prospect wants and needs. Then, talk about how your service solves their problems. After all, buyers are always searching for solutions to resolve a pain point.
Sometimes it's hard to remember you're not selling a product or service; you're selling a solution to your client's problems, wants, or needs. You’re selling an outcome, not a bunch of features. The more solutions you can offer a customer, the more reasons they will want to do business with you.
Establish a focused agenda from the beginning of the process to find out their needs and remember to ask the right questions. Some key questions to ask are:
Clear, concise, and confident communication is essential throughout the process, but particularly in the beginning.
2. You are not earning the buyer's trust.
Like in any relationship, it is critical to establish and maintain a strong bond with your prospect from the beginning. As the saying goes: "People buy from people they like." If your future client trusts you, it will be a much smoother sales process.
Every potential customer has hobbies, goals, a personal life, etc. Get to know them, not only as a business partner but, on a personal level. This will help you in the process of building a relationship, increasing your level of influence, and developing trust.
When you contact your prospect, be empathetic, be a good listener, be responsive, and take their opinions and perspectives into account. Also, show your knowledge and expertise with confidence and determination as you guide them towards a meaningful solution. This will help your future buyer trust you even more.
3. You do not know how to close properly.
This can sound like an obvious one, but it happens. Sometimes you can't close simply because your closing skills aren't refined. This happens when you cannot answer important questions or objections your future client has, or you don't understand what they are looking for and need. Keep in mind there is more than one way to close a deal. For example:
These are just a few techniques. You can investigate others and apply the one that best suits you.
In any case, make sure you apply a successful method that works with the specific selling approach and the type of relationship you have established previously with your future client.
On a final note, please consider these tips:
"Believing in yourself is the first secret to success."
If you apply these tips, you will avoid falling into these common mistakes and be well prepared to close that deal like a boss!
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Business is competitive. To grow and thrive, you’ll need trained killers - sales professionals that will win more significant deals in higher quantities.
At Lean Solutions Group, we provide a unique offering that handles the recruiting, hiring, training, and placement of sales professionals engineered to make a positive impact on your bottom line.
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Lilia Chica is a bilingual (Spanish and English) specialist in corporate communications, with a degree in Communications and Journalism and a post-graduate degree in Communications Management. She has more than eight (8) years of experience with different communication functions, marketing, and organizational culture strategies. Committed, creative, highly adaptable, and results-oriented.
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