The most effective methods for how to close a sales deal with a potential buyer
Making a sale is like standing up on stage to make a speech, and getting a standing ovation at the end. And if anybody taught you how to to close a sales deal without being nervous, please tell the rest of us your secret. Because being a good salesperson is a mix of sweat and charm, and without the sweat, the charm comes off more like arrogance. And arrogance doesn’t sell.
Besides, why shouldn’t you be putting in a little sweat equity? Depending on the product or service that is up for grabs, there’s an immense amount of pressure at stake.
Simultaneously, you want to deliver the best possible deal to the potential buyer while proving your value to your employer, colleagues, and company. Sometimes when a salesperson says, hey, I don’t think this is a fit for you. Or hey, you’re better off with the cheaper option, it can turn a maybe into a yes. And at the end of the day, the salesfloor gong doesn’t ring unless a sale is made.
Regardless of how you’re trying to seal the deal, there are useful tactics on how to close a sales deal with a potential buyer. Knowing about your product and understanding your customers (and competition) – while being genuine in your sales pitch – are all ways into closing your deal. Follow the below steps and think about how they’ll affect your approach to closing a sales deal.
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How to close a sales deal like Alec Baldwin in Glengarry Glen Ross
1. Identify the product or service you’re selling
This is number one for a reason. It’s crucial that you have as many possible details about the product so that you know what you’re getting yourself into with the buyer. If they ask you a question about it, you won’t feel intimidated to give an answer because you’ll know what to say. You’ll answer any question with knowledge, enthusiasm, and sophistication—an impressive combination from a buyer’s standpoint.
2. Understand your target
Getting to know your potential buyer will speed along the sales process, bringing you closer to your destination. If there’s one thing you’ll need to know on how to close a sales deal, be sure to know your customers wants and needs so that you can craft your sales pitch to appeal to them. Identifying your clients on a more personal level is also beneficial. Establish a good rapport with them and go the extra mile. It’ll keep them engaged in your services over anyone else.
3. Know your competition
If you already pinned down numbers 1 & 2 on this list, they will assist you in conquering this next step. By knowing your competition, you can compare and contrast your product with your competitor’s line. For example, it would be a wise idea for a car salesperson to know what vehicles they’re up against in the automotive industry. After researching your competition, you can counter any of the buyer’s doubts by explaining why your competitor’s product isn’t suitable for them.
4. Persistent, not pushy
Nothing turns off customers quite like a pushy salesperson. There is a way of indicating urgency that binds them to the sales deal without leaving a sour taste in their mouth. Make them aware of a deadline on the deal you are offering, or a deadline pertains to a particular discount. By being tactful, eloquent and understanding to their needs, they will feel comfortable with you. With a small amount of pressure, you will reel them back to you before they drift elsewhere.
5. Be prepared
Preparation is an obvious one but involves so much that it needs to be reiterated. Being prepared applies to any area in sales. The first is equipping yourself with a pen and paper—take notes during your meetings with buyers. It will help you remember what you discussed with the buyer so that there is no confusion or miscommunication the next time you meet. Another way to be prepared is doing your research: following steps 1 through 3 of this list on how to close a sales deal. Know your product/service, your competition, and your target buyer. Do your homework beforehand so that you can embrace any quibbles that you’ll confront during a meeting with your potential buyer.
6. Be genuine
Despite any misconceptions, there are honest salespeople. The smartest move you can make in a sales deal (or any form of business) is being truthful to your buyers. If you are upfront with your client about all angles of the sales deal, there is a greater chance they won’t regret their decisions. It will be a terrible disappointment to them, you, and your company if a customer comes back upset over a bad sales transaction. While you can pitch the deal that caters to your buyer specifically, you also need to be honest about the details of the deal and product/service you’re selling.
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Let us help you simplify your sales process. Sign up for a 30-day FREE trial of our lead management software and turn more leads into customers with less work!
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