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I thought it fitting, as the year 2004 comes to a
"close" and we're all under pressure to "close", to pen a column on closing. Now
personally, I've never liked the term, "closing." Here we are
"opening" what we hope will be a long-term relationship
with a new customer, and we call it "closing?" I prefer,
instead, "gaining commitment". But "closing," is, of course,
more widely-accepted. Besides, I figured you're more likely to
open an email with a subject line of "closing" than one that
contains the word, "commitment!" So I went with "Closing."
Such are the deliberations of a writer! business, that
this be the Sales Tip topic for our year-ending issue.
First, let's dispel with some misconceptions about
closing:
- The prospect will be, or should be, so instantly
wowed by what we have to say that the sales cycle will
be short
- The more you tell the prospect, the higher the
likelihood you'll close him
- When they're ready to buy, prospects will explicitly
tell you they are
- Except for products that lend themselves to one-call
closes, Closing is an event that occurs at a stage
(the "closing") of a sales cycle
Effective closers expect a sale to take time
to develop, understand that selling is as much about listening
as it is about talking (perhaps more so), know that prospects
need to be prodded to get off the dime and make a decision,
and are "closing" throughout the sales engagement.
Now, let's take a look at some Closing mistakes many
sales people make:
- Attempting to close the sale too soon
- Continuing to sell when the prospect is ready to buy
- Not asking for the order/not closing when the customer
indicates he's ready
- "Going for the close" in one fell swoop (during the
"closing phase")
If you try to close a
prospect before they are ready, you not only are likely to
be rebuffed, you run the risk of coming across as
self-serving. On the other hand, if you fail to close when the
time is ripe, you're shooting yourself in the foot, and
frustrating the prospect, who now wants to get on with using
your solution. Lastly, if you haven't built up commitment to
your solution along the way, your close will just seem
unnatural (really big decisions are difficult to make.
Prospects have to be eased into them gradually).
So what are the "secrets" to effective closing? Like
any thing else, it requires good closing technique and the
ability to "read" the prospect:
- It starts - contrary to intuition - at the beginning of
the sales cycle, by asking questions to gain an
understanding of the prospect's situation, needs, goals, and
selection process
- Being patient. Closing when the prospect is ready and
receptive (all the pieces are in place, all objections have
been dealt with)
- Gaining commitment and acceptance along the way by using
trial closes
- Being alert for indications of acceptance, both verbal
and non-verbal
- Knowing when to talk, and when to stop talking
- When the prospect is ready, asking for the order!
Bottom line: A properly-executed sale doesn't need a
drum-rolling, nerve-racking "closing moment". Rather, the
"close" should casually transition the prospect from a buying
mindset to an owning mindset. Once you've demonstrated the
superior value of your offering, gotten buy-in from everyone
you need to, and dealt with all their objections, the "closing
question" need only be something as innocuous as, "So, when
would you like to take delivery?"
Good Selling,
and lots of success in the New Year!
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