Salespeople have been forced to operate in an unusual way the last 18 months. They had to build and maintain relationships without meeting prospects in person. They found ways to break through the clutter of a COVID-stricken- world, and then, if they got far enough in the discovery process, they may have had the opportunity to offer the CLOSE! When your reps work hard to get to that critical point, they deserve to be rewarded with success. That’s why you should coach them on these seven closing techniques and why they work.
- Urgency Close
- Value Close
- Concession Close
- Question Close
- Assumptive Close
- Takeaway Close
- Value Wedge Close
7 Closing Techniques and Why They Work
- Urgency Close: Find a legitimate, pressing issue or opportunity related to your product and the solution it will provide. Once your reps have helped their prospect understand it's in their best interest to purchase as soon as possible, they can work with them to figure out the exact terms.
- Value Close: Summarize the value and benefits of previously agreed-upon points into one impressive package. This way, reps are helping their prospect visualize what they're truly getting out of the deal.
- Concession Close: Negotiation happens in the sales process. Teach your reps to learn to use this technique to their advantage. Offer points of concession, but only if they can finalize the sale that same day. Obviously, the concession the prospect is requesting has to be reasonable.
- Question Close: Questions are wonderful tools to get at underlying obstacles and unknown objections. The question allows your reps to discover whether the prospect is sold on your product while keeping the door open for further selling. In my selling career, I have always found that research is a sales rep's best friend in preparing the question close.
- Assumptive Close: The power of positive thinking and presenting the next step is the way to craft this close. Here, your reps should frame the language they use as they’re ending their pitch in a way that assumes the deal is done. For example, “What delivery date would you like?”
- Takeaway Close: This is a psychological maneuver that has the prospect visualizing a key component of your product that has gone missing. Reps will find this approach particularly useful if prospects are balking on price. The takeaway may just be the key to getting discounts off the table.
- Value Wedge Close: In an article for Corporate Visions, Tim Riesterer observes that most B2B salespeople admit that there can be as much as 70% overlap between their solutions and what the competitors offer. So rather than trying to sell your solution from the ground up, your reps should focus instead on the 30% of your offering that’s different from others you’re going up against – aka, your “value wedge.” This focus helps your rep's pitch stand out from others who are pitching generic benefits for relatively similar products or services.
Closing involves strategy and patience. Just like the experienced fisherman who knows when to set the hook, timing is everything. Your reps must lay critical groundwork. And they must focus on what the prospect needs and why. Coach your reps on how to listen for pain points, pick up extensive knowledge of the industry, demonstrate the value of your product, and firmly establish their credibility. These steps are overtures to closing the deal.