On paper, everything seems simple and straightforward. You’re ready, and your sales pitch is well-poised and polished to perfection. You’ve rehearsed your facts, figures, and unique selling points until you know them by heart. But something seems to be holding you back. Somehow, your closing strategy isn’t delivering the punch it should.
What’s missing? Which aspect of your sales strategy needs more attention? And where exactly are those sweet spots that will get you an enthusiastic “Yes!” from potential clients or investors? Here’s a handy guide on the techniques to master closing deals and expanding income.
Sales Strategies
1. Listen More, Talk Less
It may seem counterintuitive in a sales situation where you feel the need to push your product or service, but one key technique is really understanding your client’s needs.
Take time to listen and acknowledge their pain points before attempting to offer solutions. Remember, people want solutions for their unique problems. It will be challenging to tailor your proposals if you know nothing about them.
According to Forbes, top performers have a talk-to-listen ratio of 43:57 and report a higher conversion rate using this approach.
What can you do?
- Ask open-ended questions to get the prospect talking.
- Engage in active listening during your conversations.
- Pay attention to their responses.
- Summarize what you’ve heard to show understanding and build rapport.
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Here’s a case study:
You’re a real estate agent and want to sell that nice 4-bedroom house right next to the local park. You have a prospect in mind, and you’re eager to list all those great features, from the newly renovated open-plan kitchen to the spacious backyard that’s perfect for those summertime barbecues.
But your prospective buyer interrupts you with safety concerns. They just had a baby, and they read somewhere that houses near parks could be hotspots for crime, and he feels that the concrete tile roof is way too high maintenance for his liking.
Now, if you had steamrolled over these concerns and kept pushing the park-side benefit, you’d have lost him right there.
Instead, you integrated your solutions within their concerns, like the backyard is fully fenced and a security system can easily be installed. You talked about the pros and cons of a concrete tile roof and engaged him even more. Remember, make it about them, not about the product.
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2. Leverage Emotional Intelligence
What motivates luxury car buyers to invest in high-end vehicles? Test driving a Lambo certainly doesn’t center around practicality or mileage performance. But buying it makes one feel more successful, sophisticated, and distinguished from the rest. The product ignites an emotional response.
According to Harvard professor Gerald Zaltman, 95% of purchasing decisions are made subconsciously and driven by emotion. While it doesn’t mean neglecting logical factors such as price, features, or reliability, leveraging emotional intelligence in sales can undoubtedly tip the balance in your favor.
What can you do?
- Pitch in a way that triggers high-value emotions such as achievement, security, and status.
- Use the “Feel, Felt, Found” technique to empathize with concerns.
- Position your product not just as something they need but as something they desire emotionally.
Here’s a case study:
You’re an event planner pitching for a large corporate gathering. You could talk about your efficiency, your organized approach, and competitive pricing, which are all valid points. But what if instead, you started speaking about the expected outcome: unity among colleagues and boosting employee wellbeing and morale? You’re not just selling a well-organized, planned event, you’re selling team spirit, productivity, and the potential for business growth.
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3. Build Real Relationships
Billionaire Mark Cuban said that “sales cure all”, but without genuine relationships behind those transactions… are these adages short-sighted? As close as signing deals bring us toward revenue goals, maintaining strong relationships with already existing customers helps sustain growth over time.
What can you do?
- Focus on helping vs. selling to establish yourself as a trusted adviser.
- Maintain contact and provide value even when not actively closing a deal.
- Use the Puppy Dog close. Let them “test drive” your solution to experience the benefits firsthand.
Here’s a case study:
Let’s say you own an eco-friendly rain barrel company and have just installed a unit for a client. You closed the deal, sure, but the relationship with your client shouldn’t end there.
Send them tips on how to care for their new system or even creative ideas on turning that corner of their garden into a rain garden using water from the rain barrel. Next spring, when neighbors may be looking to invest in similar green solutions, who do you think she’ll recommend?
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4. Provide Social Proof
How many times have you looked at product or service reviews before making a purchase? Or what about coffee shops, bars, or restaurants? Have you ever chosen a restaurant based on the number of people inside rather than its empty competitor across the street?
That’s social proof at work and can be a powerful tool. People are often more comfortable buying from businesses that are vouched for by others.
What can you do?
- Name-drop well known clients or brands you’ve helped.
- Showcase case studies that highlight your success stories.
- Share testimonials and reviews from satisfied customers in similar industries.
Here’s a case study:
You run a health insurance startup and you’re pitching your services to potential clients who are likely comparing offers from various providers. Why would they trust you over a name that’s been in the game for decades? Offering testimonials, data-driven results, and positive reviews from satisfied customers can sway their decision.
It’s not just about telling them how great your services are, it’s about proving this with real-life examples. Explain how your company has improved people’s lives, boosted their overall health conditions, or saved them money in the long run after subscribing to your insurance plan.
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5. Use a Strong Call to Action (CTA)
Each interaction with your prospects should guide them closer to making a decision. Regardless of how engaging or convincing you’ve been up until this point, failing to use a compelling CTA can leave your potential client with uncertainty about the next step.
An effective CTA should be an invitation or suggestion that prospects take immediate action, be it booking a product demo, subscribing to a newsletter, or proceeding with a purchase or service.
What can you do?
- Frame your CTA in the context of solving their specific problem.
- Break down big decisions into smaller, actionable steps.
- Use the assumptive close. Phrase your sentences as if the customer has already agreed (Example: “When shall we begin implementation?”).
Here’s a case study:
You’re in the business of home security solutions, and you’ve managed to get a meeting with the homeowners who have just moved into your area. They are understandably worried about safety since they aren’t familiar with the neighborhood yet.
After you’ve reassured them about how your alarm systems can increase their security, don’t simply leave it at “Let me know when you make a decision.” That CTA is passive. Instead, say something like: “Would Tuesday or Wednesday work better for us to conduct an initial assessment of your house?” This gives them a sense of urgency while presenting immediate options for taking action.
The Art of Perseverance
Sometimes, the road to closing is littered with “No’s.” Rather than being disheartened, remember that every sales journey has its bumps. Perseverance can turn a “No” into a valuable learning opportunity.
Adopting an optimistic mindset even during rejections will keep you motivated and open to improving your sales strategy. It’s all about resilience, adaptability, and knowing how to handle rejection with grace, which really seals the deal.
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