Imagine you finally stumble upon a promising prospect, only to lose them due to a series of unfortunate mistakes. Frustrating, isn’t it? If you’re tired of setbacks and want to improve your sales skills, this article is perfect for you.
Check out these statistics that prove why learning business skills, specifically sales closing techniques, is crucial:
- The average sales close rate in the United States is 27%. This means that for every 100 opportunities a sales team generates, they will close 27 of them. [2023 HubSpot Study]
- The average sales close rate varies by lead quality. High-quality leads have a sales close rate of 35%, while low-quality leads have a sales close rate of 15%.
- The average win rate for all industries is 47%. The best-performing sales teams had win rates of 60% or higher. [2021 RAIN Group Center for Sales Research]
This means that closing a sale is a challenging task. That’s why we’ll share ten proven ways to close sales that experts recommend. These strategies will help you overcome objections and achieve success.
Alongside the ten proven techniques, this article will offer additional insights and practical tips to optimize your closing efforts. You’ll gain access to a wealth of knowledge and actionable advice that will empower you to become a sales powerhouse.
What are the 10 Proven Sales Closing Techniques Recommended by Experts?
Skill Success is privileged to interview sales professionals and business experts who have honed their skills through years of experience and developed techniques to close deals successfully. Here are ten proven sales closing techniques that experts recommend:
The Assumptive Close
The assumptive close is a sales technique that assumes the sale is made and moves forward with finalizing the deal. By presenting confidence and certainty to the customer, you can guide them toward making the buying decision.
Christian Sculthorp, entrepreneur and owner of WallPanels, says he has personally implemented and recommended the Assumptive Close. He shared an interesting anecdote that highlights the impact of this technique.
Here are some tips for implementing the Assumptive Close:
- Build rapport and establish trust. It’s important to ensure they feel comfortable and confident in your product or service.
- Use assumptive statements sparingly and at the right moments. Gauge the customer’s level of engagement and readiness to proceed before implementing this technique.
- Maintain a positive and confident demeanor. Your tone and body language should convey the belief that the deal is already done.
- Be prepared to handle objections or negotiate terms if necessary. The Assumptive Close works best when the customer feels heard and valued.
When to use the Assumptive Close?
When the customer is hesitant to commit or has raised objections. When the customer is already showing interest in your product or service. It can also be a helpful technique when the customer is hesitant to commit or has raised objections.
However, it is important to use the assumptive close sparingly and at the right moments. If you use it too early in the sales process, it may come across as pushy or presumptuous. If you use it too late, it may be too late to close the deal.
The Challenger Sale
The Challenger Sale technique, as recommended by William Lam, Founder of UPGRD, includes the salesperson challenging the customer’s assumptions and teaching them something new about their business or needs. This technique is effective in guiding the customer towards a different perspective and influencing their purchasing decisions. He gives an example:
This approach helps the customer gain new insights and consider alternative strategies that can lead to better results.
The Challenger Sale technique’s success depends on the salesperson’s skill in providing convincing information and thought-provoking insights that relate to the customer’s unique situation.
Here are some tips for using the Challenger Sale technique:
- Do your research. Before you challenge the customer’s preconceptions, make sure that you know what you are talking about. You need to be able to back up your challenge with facts and evidence.
- Be respectful. Even though you are challenging the customer’s beliefs, you need to do it in a respectful way. You don’t want to come across as arrogant or condescending.
- Be prepared to answer questions. The customer is likely to have questions about your challenge. Be prepared to answer them in a clear and concise way.
When to use the Challenger Sale technique?
The Challenger Sale technique is best used when the customer is already somewhat interested in your product or service. It is also a good technique to use when the customer has some preconceived notions about your product or service.
10x Vision Close
The 10x Vision Close technique is a powerful approach to closing deals by presenting clients with a vision of exponential growth and long-term success.
Avinash Chandra, a renowned Mentor, Advisor, Consultant, and Business Strategist, shared his insights on this technique:
Avinash’s success story exemplifies the effectiveness of the 10x Vision Close technique. By presenting a compelling vision of future success, the branding agency was able to persuade the AI healthcare startup’s founders to make significant investments in their brand. This strategy not only positioned the startup as a leader in the industry but also shaped the future of healthcare.
To apply the 10x Vision Close technique, Avinash provides the following tips:
- Identify opportunities to 10X your client’s vision, build new ecosystems, or spark movements. Think beyond immediate results and focus on long-term growth and impact.
- Do your homework to understand your client’s priorities and goals. Tailor your vision to align with their aspirations and show how your services can help achieve them.
- Craft a compelling and aspirational brand story that resonates with your client’s target audience. Paint a vivid picture of the future and highlight the value your client can bring to their industry.
- Propose bold brand strategies, not just tactical solutions. Position your client as a game-changer and demonstrate how your partnership can reshape their industry.
When to use 10x Vision Close:
The 10x Vision Close technique is most effective when dealing with forward-thinking clients who are open to bold ideas and long-term investments. It works well in industries where disruptive innovation and future-oriented strategies can make a significant impact.
Use this technique when you have thoroughly researched your client’s goals and can present a vision that aligns with their aspirations for industry leadership and growth.
The Thermometer Close
The Thermometer Close is a sales technique where the salesperson asks customers to rate their interest in the product or service on a scale of 1 to 10. This technique is helpful because it lets the salesperson understand the customer’s level of interest and find out if there are any concerns.
Cynthia Davies, the Founder of Cindy’s New Mexico LLC, shared her insights on this technique:
The Thermometer Close is particularly effective for prospects who are still uncertain or hesitant. In the context of helping people launch their own businesses, Cynthia recognizes the nerve-wracking nature of becoming an entrepreneur. The Challenger Sale technique helps by talking about what matters to the customer and letting them lead the closing process. This reduces pressure and makes it more likely for them to make a positive decision.
Here are some additional tips for using the Thermometer Close:
- Build rapport and trust with the prospect before reaching the closing stage. This will make them more comfortable opening up about their level of commitment.
- Listen actively and attentively to the prospect’s response when they rate their level of interest. Pay attention to any specific concerns or areas that need further clarification.
- Be proactive in addressing their response. If the prospect rates their interest below a 10, ask them what can be done to bridge the gap and address their remaining hesitations.
- Offer personalized solutions or incentives based on their response. Tailor your approach to address their specific concerns and make the deal more appealing.
When to use the Thermometer Close?
The Thermometer Close technique is best utilized when dealing with prospects who are indecisive or unsure about committing. It is especially effective in situations where the prospect needs reassurance or is navigating a significant decision.
The FOMO Technique
FOMO, or Fear of Missing Out, is a highly effective sales closing strategy that taps into the customer’s fear of missing out on valuable opportunities.
Dan Hunter, the owner of Authority Tattoo, a reliable source for tattoo and piercing information, says he has had great success using the FOMO Technique.
To effectively use the FOMO Technique, consider the following tips:
- Highlight the unique benefits and features of your product or service. Showcase what makes it special and valuable.
- Create a sense of urgency. Emphasize limited availability or time-limited offers. Communicate that the opportunity won’t last forever.
- Incorporate persuasive language that triggers emotions and captures the customer’s attention. Use compelling adjectives and phrases to convey the value and desirability of your offering.
- Showcase testimonials, case studies, or social proof to provide evidence. Show the positive experiences and outcomes others have had with your product or service.
When to use the FOMO Technique?
The FOMO Technique is particularly effective when dealing with customers who are driven by the fear of missing out on valuable opportunities. It is suitable for products or services that have limited availability or time-sensitive offers. Use this technique when you want to create a sense of urgency and prompt customers to make swift purchasing decisions.
The Pain-Agitate-Solve approach is a proven sales technique that involves identifying a client’s pain points, agitating them by highlighting the negative impact, and offering a solution to alleviate their challenges.
Vikrant Shaurya, the CEO of Authors On Mission, has successfully used the Pain-Agitate-Solve Approach to close more sales.
When using this technique, it’s important to be kind and sincere, genuinely wanting to help clients overcome challenges and make their situation better.
Vikrant used this technique to help an entrepreneur who was struggling to find the time to write a book. He identified the pain point, which was the entrepreneur’s lack of time. Then, he agitated the pain point by detailing all of the opportunities that the entrepreneur was missing out on by not writing a book. Finally, he offered his services as the solution to the entrepreneur’s problem. The entrepreneur was impressed with the service and decided to sign up.
Here are some tips for using the Pain-Agitate-Solve Approach effectively:
- Genuinely understand your potential client’s pain points. This requires diligent research and active listening.
- Agitate the pain points by detailing how this issue is impacting them. Be specific and use examples.
- Offer your services as the solution to the client’s problems. Be clear about the benefits of your product or service.
- Be confident and persuasive. Believe in your product or service and be able to articulate its value.
When to use the Pain-Agitate-Solve Technique?
The Pain-Agitate-Solve approach is particularly effective when dealing with clients who are actively seeking solutions to their pain points. Use this technique when you have identified specific challenges that your product or service can address.
The Trial Close
The Trial Close technique is a valuable approach to gauging a prospect’s level of interest and commitment throughout the sales process.
Maham Khan, the Head of Marketing at Mybrokerone, says that using trial closes is crucial in sales. It helps to keep the conversation going and make progress throughout the sales process.
To effectively use the Trial Close, consider the following tips:
- Incorporate trial closes strategically throughout the sales process. Ask open-ended questions that encourage the prospect to share their thoughts, preferences, and concerns.
- Actively listen to the prospect’s responses during the trial closes. Pay attention to their level of engagement, enthusiasm, and alignment with your offering.
- Use the feedback obtained from trial closes to adapt your sales strategy. Address any concerns or issues raised by the prospect and demonstrate how your product or service can meet their requirements.
- Maintain a conversational and collaborative approach during the trial closes. This encourages the prospect to participate in the dialogue actively and ensures a mutually beneficial exchange of information.
When to use the Trial Close?
The Trial Close technique is useful throughout the sales process, from the initial interaction to the final close. It helps maintain a dynamic conversation and provides valuable insights into the prospect’s level of interest and commitment. Use trial closes when you want to gather feedback, address concerns, and ensure that your offering aligns with the prospect’s needs.
The Option Close
Option Close is a sales technique that involves giving the prospect two or more options to choose from. This can be a very effective way to close a sale, as it puts the prospect in a position where they have to make a decision.
Ravi Parikh, Founder & CEO of RoverPass, says that Option Close is one of his favorite sales techniques. He says that by giving the prospect two or more options, he is more likely to get a sale than if he just asked the prospect to buy his product or service outright.
To effectively use the Option Close technique, consider the following tips:
- Offer two or more choices to your customers. Ensure that each option provides value and addresses their specific needs or preferences.
- Make the options distinct but equally appealing. Highlight the unique benefits and features of each choice to create differentiation.
- Tailor the options based on the customer’s priorities. Understand their preferences and pain points to present choices that are relevant and compelling.
When to use the Option Close?
The Option Close technique is effective when dealing with customers who may be hesitant or indecisive. It works well when presenting solutions that have different features, pricing tiers, or variations to cater to individual preferences.
The Social Proof Close
The Social Proof Close technique is a valid and effective sales approach that utilizes success stories, testimonials, or case studies to build trust and credibility with potential customers.
Elice Max, the Marketing lead and Co-owner of EMUcoupon, shared her insights on this technique:
To effectively use the Social Proof Close technique, consider the following tips:
- Highlight specific details or metrics that demonstrate the value and benefits achieved by the customers. This adds credibility and helps prospects relate to the positive results.
- Incorporate social proof strategically throughout the sales process. Share relevant success stories or testimonials at appropriate points to address objections or concerns raised by the prospect.
- Customize the social proof to align with the prospect’s needs and pain points. Choose examples that closely relate to their specific situation or industry.
When to use the Social Proof Close?
The Social Proof Close is a good technique to use when the prospect is hesitant to make a decision. When you share success stories from happy customers, you’re letting the prospect know that your product or service works and that other people have achieved success with it. This can help to build trust and rapport with the prospect and close the sale.
The Compromise Sales Close
The Compromise Sales Close is a sales technique where you use your negotiation skills to give in to the customer’s request in order to close the deal. It’s an effective way to close sales, especially when you need to meet your monthly quota quickly.
Simon Bacher, Co-Founder of Simya Solutions, the creator of Ling App, believes that the Compromise Sales Close is a simple and powerful technique. He explains that by accommodating the customer’s request, you demonstrate your willingness to collaborate and find a mutually beneficial solution.
“For instance, your lead may ask for a 20% discount. You can close the deal by saying, ‘Yes, I can give you a 20% discount on the subscription fee for six months if you sign the agreement today.’ Other compromise closing sales tactics include shortening the contract duration, free insurance, and waiving the registration fee, shipping, or other fees,” Simon added.
To effectively use the Compromise Sales Close technique, consider the following tips:
- Be willing to compromise. This is the most important part of the technique. If you are not willing to compromise, the customer is not likely to agree to your terms.
- Be clear about what you are willing to compromise on. Make sure that the customer knows what they are getting in return for their compromise.
- Be prepared to walk away. If the customer is not willing to compromise, you may need to walk away from the deal.
When to use this technique?
The Compromise Sales Close technique is useful when customers are sensitive to price or have concerns about specific terms. It can be employed strategically to create urgency and secure the deal. By offering a compromise that satisfies the customer’s demands, you can reach a mutually beneficial outcome.
More Sales Closing Techniques
- The Urgency Close: Create a sense of urgency by emphasizing limited-time offers, exclusive deals, or impending price increases. Highlight the benefits of acting quickly to motivate the customer to make a decision.
- The Question Close: Pose a question that prompts the customer to acknowledge the value and benefits of the product or service. For instance, ask, “Can you imagine how this product will simplify your daily routine?”
- The Summary Close: Summarize the key points of your sales pitch, emphasizing the benefits and value proposition. Then, ask for the customer’s commitment by saying, “Based on what we’ve discussed, are you ready to move forward?”
- The Sharp Angle Close: Introduce a sudden change or new element to the negotiation to encourage the customer to make a decision. For example, offer a limited-time bonus or an additional discount if they agree to the deal right away.
- The Puppy Dog Close: Offer a trial or demo period for the customer to experience the product or service firsthand. By letting them “try before they buy,” you increase the chances of closing the sale.
- The Balance Sheet Close: Present a balanced comparison of the pros and cons of the customer’s options. Help them see that the benefits of your offering far outweigh any drawbacks.
- Visualization close: Ask the customer to visualize themselves using your product or service. For example, you might say, “Imagine how much easier your life would be if you had this product.”
- Empathy close: Show the customer that you understand their pain points and that you want to help them solve their problems. For example, “I know you’re concerned about the cost, but you’ll find it’s worth it in the long run.”
These sales closing techniques can be used in various situations, depending on the customer’s preferences, objections, or decision-making style. Assess the customer’s needs, objections, and timeline to determine which technique is most suitable. Remember to adapt your approach based on the specific context and individual customer preferences to increase your chances of success.
Bonus tip: Equipping yourself with critical thinking skills and emotional intelligence can help you to be more persuasive and to close more sales. These skills enable you to analyze situations effectively and connect with customers on an empathetic level.
Frequently Asked Questions About Sales Closing Techniques
What is a sales closing technique?
A sales closing technique is a strategy or approach used by sales professionals to encourage a prospect to make a favorable decision and complete a purchase. These techniques aim to address objections, create a sense of urgency, build trust, and secure commitment from the customer.
How do I choose the right sales closing technique?
Choosing the right sales closing technique depends on factors such as the customer’s preferences, objections, and the specific sales situation. Consider the customer’s needs, decision-making style, and the context of the sale to select the technique that aligns best with those factors.
Are there specific techniques for different types of customers?
Yes, different customers may respond better to certain techniques based on their personality, industry, or buying preferences. It’s essential to adapt your approach and choose techniques that resonate with each customer’s unique characteristics and needs.
How do I handle objections during the closing process?
When faced with objections, listen actively to understand the prospect’s concerns. Address objections empathetically by providing relevant information, clarifying misunderstandings, or offering alternative solutions. Use techniques like the Balance Sheet Close to present a balanced comparison of pros and cons to overcome objections effectively.
Can I combine different closing techniques?
Yes, you can combine different closing techniques based on the sales situation and the customer’s responses. Experiment with different combinations to find the approach that works best for you and your customers.
How can I improve my closing skills?
Improving your closing skills requires practice, ongoing learning, and understanding your customers’ needs. Seek feedback from experienced sales professionals, attend training programs, and analyze your sales interactions to identify areas for improvement.
There are also online courses available that can help you improve your closing skills. Online learning platforms like Skill Success offer a wide range of courses specifically designed to enhance sales techniques and closing strategies.
The experts have shared their valuable insights on 10 proven sales closing techniques that can significantly enhance your sales effectiveness. By implementing these techniques, you can build trust, address objections, create a sense of urgency, and ultimately close deals successfully.
To further enhance your sales skills and continue your professional development, we recommend exploring online courses. Skill Success offers a wide range of courses that can provide you with additional knowledge, strategies, and practical exercises to excel in your sales career.
By subscribing to Skill Success All Access Pass, you can access a wealth of resources and gain valuable insights from experienced instructors. Continuously honing your skills through learning and practice will not only boost your confidence but also increase your sales success.
Remember, mastering the art of sales closing is an ongoing journey. Stay curious, open to learning, and embrace new techniques as you refine your approach.