How To Double And Triple Your Closing Rates

BY Liz Wendling
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Rarely does a week go by that I don’t receive calls or emails from professionals who are frustrated with their closing rates. They ask me, "Can you teach me to be a better closer? Can you teach my team how to close more business and be rainmakers? My closing rate sucks. Can your coaching programs show me a better way to convert more of my expensive marketing leads into paying clients?"

Some professionals are convinced that if they had a better way to close, all of their revenue problems would vanish.

They believe that they are losing business because they are not good closers or because they lack a closing phrase or a slick closing technique that would encourage a prospect to hire them on the spot. They are losing business because they do not have the modern sales skills to conduct a compelling client consultation from the opening to the closing. 

Closing complications are a blatant symptom of a much bigger and more costly problem. Making adjustments to closing issues is the equivalent of putting a bandage on a bullet wound. It would be a colossal waste of time and money and would only make matters worse.

Fixing closing problems is unproductive because the results are superficial. What is left untouched, what is missed, what is overlooked are the underlying dynamics that perpetuate the problem. If the outcome of all of the hard work of attracting a prospect and meeting with them doesn’t result in a new client or more business, it means that something is broken in your process and something is off in your communication. An obstacle is in the way that is causing a prospect not to feel comfortable hiring you.

The close is the easiest part of any meeting. Closing strong and often is a culmination of a well-​managed and thorough execution of the entire process, not an aspect of how well you dazzled someone with fancy closing language.

You can’t do an average or run-​of-​the-​mill consultation and think that a new closing technique is going to win a client over. 

The real reason why ideal clients leave your office without hiring you is not that you don’t know how or when to close. People don’t retain your services because the process that you are using during a consultation is outdated and out of alignment with the way that the new consumer buys solutions. They don’t view you as the progressive professional that they are looking to hire.

Attempting to close today’s consumer with old-​school communication and closing skills is destroying the bottom line.

This obsolete process was created in a different time, in a different marketplace, and for a different consumer. Without a transformation, this massive and expensive issue will remain poor at best. You will have to get used to hearing, "I need to think about it. I will get back to you. Your fees are too high."

Stop focusing on the close, and start focusing on learning the powerful skills that will help make closing easier: lead and client conversion skills.

Professionals can improve closing rates in many ways. The best of these is to invest in a modern-​day solution that aligns with today’s discerning consumer. Invest in the knowledge of understanding WHY and HOW people make decisions. Helping someone make a buying decision is much different than trying to close them.

Business is rarely lost at the end of a consultation or during the close. No one will ever say, "Alice, you’re my first choice, and I would like to retain your services, but you’re a crappy closer. Marie, I’m unable to retain you. I was hoping that you were going to be a more confident and powerful closer. Steve, you are the right person for me, but your closing skills are dreadful."

Without a refresh, you will continue to leave enormous amounts of money on the table and watch perfect clients walk out the door and retain the competition. You will continue to see money disappear before your very eyes instead of profits pouring into your business.

Here’s how much is at stake: Let’s say that an average client means an additional $5,000 to your practice and that two additional clients per month choose to hire you instead of your competition. This would net you an additional $10,000 per month or $120,000 per year.

You can double or triple your conversation rates and differentiate yourself with a strong opening and a powerful consultation process that knocks a prospects socks off and makes you their first and only choice.