No matter how great your marketing strategy is, if you cannot close your leads, your efforts will be for naught. Ultimately, if the goal is to acquire customers, only a great closing strategy can help you grow your business.
But how do you get there? How can you make sure that when your sales team makes the call, they have a high chance of converting a lead on the fence into a reliable long-term customer? A number of complex strategies can help you get there. But ultimately, even simple tips like the five below can help your business effectively close more sales.
1) Embrace a Focus of Helpfulness
When it’s time for the closing, the time for selling is over. At this point, you have already made your arguments, and provided your evidence, for why your product or service is a good choice. Now, you need to make sure that your customer actually agrees with you.
To accomplish that goal, change your focus from selling to helpfulness. Embrace customer questions, and try to answer them as honestly as possible. The more understood they feel, and the more confident they are in your efforts to help them reach their goals, the more likely they’ll be to close.
2) Understand (But Don’t Cling to) Price
Competing on price alone is the death knell for almost any company. As soon as a cheaper product comes along, you’ll be out of the running. But at the same time, that doesn’t mean you should ignore the issue of price when looking to close a deal.
For your audience, price is an important consideration. To become your customer, they have to believe that what they pay will get them at least equal value in return. Present the price honestly, and connect it directly with the value that your customers will get in return.
3) Listen to Your Prospect
One lost sale is the opportunity to improve the next one. Not every sales pitch will close successfully, but it’s what you do next that determines future successes.
Listen to your audience, and evaluate why they might say no. They could have reasons that are out of your control (such as bad timing or a need that went away since the time they become a lead). But more often than not, they’ll tell you what went wrong, which allows you to fix it in the future. The more you listen, the more improvements you can make.
4) Apply the Scarcity Principle
Being honest, and focusing on being helpful to your customers, does not mean you can’t apply some psychological tricks to close more sales. Among them is the scarcity principle: if your audience believes that supply for your product or offer is limited, they’ll become more likely to buy it.
As mentioned above, the close is not the time for selling. But subtly, you can apply similar pressure during your pitch. Mention limited supply, or the ideal timing of getting your product right now. The more credibly you can sell that scarcity, the more likely you’ll be to close more sales.
5) Come Armed with Information
Finally, don’t underestimate the simple importance of information in closing more sales. The more your sales team knows about potential prospects, the better. That, in turn, necessitates a software platform specifically designed to gather prospect information and improve your sales effort.
For many organizations, a Customer Relationship Management platform accomplishes just that. It keeps track of your audience’s journey through the sales funnel, allowing you to learn more about your prospects and enabling you to make more informed and relevant sales pitches. To learn more about our CRM, and how it can help you close more sales, contact us.