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When to Close the Sale
I talked to a many agents today about their pitch. Now I want to post a short blog article about how to know when you should close the sale. 1. Close...
Any good sales person has experienced that moment when you know you should close; you know you have the client where you want him; and your gut is telling you if you asked for the credit card statement or tried to close the sale the prospect would say “yes.” However, a few minutes later you […]
Any good sales person has experienced that moment when you know you should close; you know you have the client where you want him; and your gut is telling you if you asked for the credit card statement or tried to close the sale the prospect would say “yes.” However, a few minutes later you walk out the door with nothing. What happened? You forgot your ABC’s.
The ABC’s of selling are “Always Be Closing.” While this sounds so simple and obvious, many sales professionals lose money because they don’t close. So what does “Always Be Closing” really mean? Let me share a few tips with you today so that you never lose another sale because you didn’t ask for it.
#1 – Understand that closing the sale will simply tell you where you are. It is not the end of the relationship. I believe the number one reason sales people don’t close is that they feel like the entire sale is resting on their closing question, and they don’t want to lose the sale. In other words, they are so afraid of getting a “No” that they never get a “Yes.”
If you phrase your closing question correctly, you can easily back out and come back in for a landing later if the prospect isn’t ready. “Always Be Closing” is the idea of always building towards the sale. Don’t ask, “So are you going to buy from me or not?” This is a terrible closing question! Of course, you will lose a lot of sales with a question like that one. What should you ask?
#2 – Use trial closes to evaluate where your prospect is in the buying cycle. Here a few questions you should ask throughout your presentation:
“If you decide to go with me, would you want the upgraded EMV terminal or would you like to me to check on reprogramming your existing terminal?”
Listen to the response to this question. You know you have the sale if the prospect says, “I would want the EMV terminal.” or “I would like to keep the terminal I have for a while since we just bought it.” You can move forward towards a more aggressive closing statement such as, “Great Bob, with your permission, I am going to take some notes on the paperwork so I don’t forget any of the details. Let’s start with the physical address here…” Just fill out the paperwork from there.
You can also use trial closes like this one: “Sue, are there any other questions you have for me before I start working on the paperwork?”
If Sue says, “We are not ready to buy yet.” That is okay. You can back up and say something like, “I understand completely, Sue. What other questions could I answer for you to make you feel more comfortable with the solution I am offering?”
#3 – Closing too hard and too often is not ideal. Not closing guarantees failure. There is always a balance between being pushy or being a push over. But you need to make sure you lean towards closing too much. I know this flies in the face of what some sales people think and may not be the best strategy to sell a corporate jet. However, in the world of credit card processing sales, coffee is indeed for closers! If you want to get business, you have to ask for it; you have to want it!
If you don’t feel a little bit upset when someone doesn’t buy from you, you need to adjust expectations for yourself and your prospects. Don’t be afraid to use lines like, “Mr. Jones, I really want your business. I promise I will earn your trust over time. How about we get started with the free terminal and the month to month agreement? Let me prove what I can do for you?”
Lines like this are something many sales “professionals” can’t seem to get out of their mouths with any sincerity. If you are passionate about what you have to offer, you should share that passion with your prospects. Small business owners like feeling as if you are indebted to them. They like having the leverage, so give it to them. Tell them you will work harder to keep them happy than any other vendor relationship they have. That is how much you want their business. Be assertive; be assumptive; and, of course, always be closing.
Make it a great day!
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