How To Close A Deal
Finding deals is an art unto itself but if you can’t get your client to sign, you’re out of luck. In this article, we go in depth into how to close a deal and share some time-tested techniques for ensuring you end up on top in your next pitch.
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One of the essential points to remember when learning how to close a big business deal is understanding how to be genuine and real in your closing process. We could run through a million closing sales tips, but if we overlook the most important points, we wouldn’t be helping you to learn how to close a prospect.
In the digital age, we see more people looking to learn how to close a deal via email, and this is a possibility now with advanced meeting and proposal software that makes it easier to get your point across without ever having to meet face to face.
You must learn how to close a deal with a client; otherwise, you’ll find yourself in the endless cycle of always trying to keep your pipeline super full without ever reaping the rewards of that labor.
In this article, our goal is to help you with the necessary steps to learn how to close a prospect quickly and easily. There are many different tips and tricks to follow, but we’re focusing on the ones that will make the biggest impact for you.
Sales Closing Techniques
In this section, we’re talking about some of the most common sales closing techniques with examples of the closing sales statements.
The suggestion close works by making the prospect feel like they already have the results they seek. For example, if you’re a car salesperson, you could say, “You’re going to love the way this car goes from 0-60 in 2.5 seconds.” You’re making them feel something as if they already have it.
Here is where you offer the prospect a few different options to let them choose the best for their needs.
An example of the assumptive close would be, “so, I’ll just need your license and credit card, and we’ll get this process going.” They might not have agreed to that yet, but you’re trying to shortcut the steps and get right down to business.
Direct close examples are simple; it would go something like this. “What do you think? This facial cream will get rid of those wrinkles in a few weeks, would you like two or three bottles?” You’re being direct and asking for the sale.
The choice close is like the alternative close, but instead, you’re asking the prospect to choose between two options.
This close happens when you go back and highlight all the main reasons why the prospect should buy. (Ex. This cream eliminates wrinkles, sun spots, aging spots, and it tightens skin)
A trial close is interesting because you close before the actual closing. You’re using this strategy to gauge the level of interest you have in the prospect before you go any further. You’ll make them feel like you’re about to close to deal, and if they’re showing any interest, you will continue with more benefits and features.
The urgency close definition is simple. It means that you’re creating a sense of urgency to show the prospect that they need to take action quickly. For example, if you’re selling life insurance, you would want to explain to the prospect that anything can happen at any minute, so they need to be prepared. That might make them feel like they need to act right away.
Sharp Angle Close
The sharp angle close is used when the prospect is interested but has one objection. For example, someone might want to buy a house, but they want you to replace the appliances. You would ask them if that is the only thing preventing them from buying. If they say yes, you promise to fix it and close the deal.
Standing Room Only Close
We see this used all the time in today’s marketplace. Standing room only is when you create scarcity for your product by saying it’s in “limited supply” or “only available today.” You fill the prospect with fear of missing out.
Real Estate Closing Techniques
Now let’s talk about some real estate closing techniques. There are many reasons why you would want to learn how to close a real estate deal without an agent. It’s just important to educate yourself and know how to conduct a real estate closing before you get in too deep.
First, you’ll want to get your house on the MLS, but you’ll have to pay for it. Once you have a buyer, you’ll have to do all your own negotiating, so you need to know how to close a deal in real estate. Knowing your home’s primary selling points, and having an understanding of what else is selling locally will help.
For step by step real estate transaction information, here is a helpful guide.
Car Sales Closing Techniques
In this section, let’s take a look at the five basic car sales closing techniques and how you can apply them.
The Assumptive Close
We talked about this one previously, but this is where you assume the deal is done. You could say something like, “Okay, so let me get your pay stubs and bank statements, and I’ll get those over to the lending department so we can get working on that loan.”
The Open-Ended Close
Here is where you ask a question that either results in a close or useful information. You might ask, “Do you feel like this car is the right one for you?” If they say yes, you have a sale. If they say no, you can find out what is holding them back and make it right. It’s more successful than the direct close because the “no” isn’t a “real no.”
The Personal Close
This close is all about building a personal relationship and creating trust. A big part of sales is making the prospect trust you. Just be sure that you’re not getting them into something they don’t need or want.
Here is where we recap everything they’re gaining. It’s important to focus on the benefits of the car rather than the features. The brand new tires aren’t just tires; they’re the safe tires that will last longer and ensure they always get their daughter to soccer practice.
The blind-spot assist isn’t just a safety feature, but it’s what helps them get home from work when the day starts to get heavy on their eyes. Preach how these features will positively impact their life, and you’ll have the sale.