15.1 The Importance of Closing at the Right Time

Now, a number of salespeople are actually unaware of how to close effectively or when to seal the deal and clearly that is going to be a major problem.

The difficulty is that you need to understand when to go through the closing process or you could spoil the entire deal if you act incorrectly or at the wrong time. Some salespeople are guilty of pushing too hard to get to the closing part of the deal and one thing that is going to really turn people off is them getting even a sense of desperation on your part. Instead, you must be in control of the situation in order to close the deal, but we will cover aspects of how to do this later on.

When it comes to the concept of closing at the right time, what we mean is that you need to be aware of when the buyer is ready to sign on the dotted line. If they are ready to close and are giving you all the signs, which includes positive language and pushing to the point of spelling it out for you, and yet you continue to negotiate, you will only put them off closing the deal and you will undo all of your hard work.

There is also the aspect of the amount of time you can actually spend on a deal before you have to contemplate moving on to another potential client. It just does not make sense from a business point of view to continually try to close a deal when there is no actual point in trying to continue.

15.2 How to Close a Deal

The next part we need to look at is how you actually close a deal and there are a number of ideas you should consider following, although there are no hard and fast rules as to what should happen.The way you have to close can be determined by the industry, your own personality, and of course, what you have been instructed to do by the company you work for, but these general rules will give you some kind of an indication as to what you need to do next.

1. Do not stand up from negotiations

This may sound rather strange, but you should avoid standing up in order to shake hands or to close the deal. The reason for this is because people can interpret this movement in a different manner and, as a result, it can provide them with an opportunity to work their way out of accepting the deal that is in front of them.If they stand up, stay where you are because it can leave you in a position of power and allows you to finish what you were doing.

2. Give your proposal in writing

A great way to close the deal is to give people your proposal and key points in writing because it is easier for them to understand what they will get if it is written down in front of them. You can then point out certain aspects of the proposal in order to help you close the deal and even ask them if there is anything they are uncertain of before you do so.

3. Always have a pen

You would think this was something that would not have to be laid out for you to consider, but the importance of having a pen that works should never be overlooked. The reason is that you want to be able to take action at the very first sign that they are ready to close the deal. Any delay can work against you because if you are seen as not being ready to finalise everything, then perhaps they should not be quite so ready either. There is a sense of logic to this, but you certainly do not want to give them any opportunity to back out, so keep that pen handy as it does make life easier.

4. Make people feel good

Here is one pretty good tip to help you close the deal, make people feel good. Now, we are not saying that you have to be gushing with praise for them, but rather you just need to come across as being friendly and perhaps inject a bit of humour in there as well because that can make a real difference. The idea here is that you will be able to make people relax and if people are relaxed it makes it easier for them to take in what you are saying and to act upon it. As a result, closing that deal will no longer be a problem.

5. Use the power of eye contact

We know that eye contact can be a powerful tool for people, but most people are actually unaware of just how important it is.You see, by making eye contact it lets other people feel you are actually interested in what they are saying and this can be a powerful thing when it comes to trying to close a deal. If you come across as being uninterested, then it makes people feel they should not be as interested in what you are saying either and that is hardly going to make life easy for you when it comes to closing the deal.

6. Never be afraid to push a bit harder

If you have been told no, then depending on the strength of that one single word, it is always possible for you to negotiate a bit more and then go back in for the attempted kill. However, there is a point whereby it becomes something similar to trying to flog a dead horse and that is not exactly a nice place to be in. If you think just accepting no and ignoring it is seen as being ignorant, then that is not the case because those who have been successful in this kind of situation are those who rarely take no for an answer, resulting in more closed deals.

7. Never leave the potential customer

If at all possible, make sure you have everything you need at hand in order to close the deal. The reason for this is because the more you have to leave the potential customer to check on something, the longer it provides them with the breathing space to think about what is going on and to potentially change their mind. If you are able to stay with them, then you can continue the sales pitch and your chances of closing the deal are going to increase as a result.

8. View prospects as buyers

This may sound slightly philosophical, but you should view prospects not just as potential buyers, but as actual customers and treat them like this. By doing this, you will talk to them with more confidence and people feed off that feeling. You will also find that you talk differently to them and they will be more receptive to what you say, as there will always be a sense of uncertainty in your voice, or at times desperation, if you only see them as being potential buyers. You will close deals more efficiently by viewing them from a different angle.

9. Have that can-do attitude

Having a can-do attitude will come through in your dealings with people and because of this you will find that you can close more deals. The reason for this is because when you have this attitude, it creates a more positive energy around you and that is infectious in its own right. People are then going to feed off this positivity and when people are feeling good, it has been shown that they are more likely to want to go ahead and make a purchase. In other words, a can-do attitude and believing in yourself will result in a higher conversion rate and closing more deals.

10. A smile does everything

Finally, you are going to be able to close more deals in a more efficient manner if you simply smile. People are extremely receptive to a smile as it does create a good feeling and as we just said, people feed off that feeling. You are automatically seen as being warm and receptive and you only have to think about how you personally react when you are in the same situation to see how this is one simple thing that can change your conversion rate. After all, would you buy from somebody who looked sad? Absolutely not, so why would someone buy from you?

We have not sought to tell you exactly how to close your deal because there are too many industries and company requirements to cover. In addition, there is no way of knowing how long it will take, as some products or services require several meetings whilst others can be done and dusted in an instant.The main thing is, you know how to handle yourself and to work on the atmosphere that surrounds the potential deal as that is going to change the way in which all of these negotiations are going to come to an end.

Your aim is to close the deal as quickly as possible to allow you to move onto the next customer because, after all, that is how you are going to make your money, so why waste time if you can avoid it?

FACT

In more than 65% of all sales calls made in the U.S. today, the salesperson will never ask for theorder, but wait for the prospect to “buy”.

Source: salestalent.com

15.3 How to Handle Things that are Going Wrong

Now, even though you can try everything in your power to close the deal as quickly as possible, there will be moments where things are just not exactly going to plan.Understanding how to handle that situation is very important because it is possible to turn things around even when you think this is something that will be impossible. The key is to be able to pinpoint the moment the tide is starting to turn against you because the sooner you can spot the change, the easier it will be to stop and change the direction this potential sale is heading in.

The reason why this point is so important is simply because of the need for you to address things as quickly as you can and to then try to stop it from getting any worse. Unless it is blatantly obvious that the situation cannot be rescued, you can always turn it around if you understand where the problem lies and the kind of solutions that are going to be able to make a huge difference. However, there are various ways in which you can stop things from getting worse, as we will now address.

1. Do not panic

If you panic, it is hardly going to make the client feel better is it? They will start to wonder what is wrong if the person selling the product or service has become nervous and is flustered. It hardly inspires confidence and that is one emotion you want to really get to grips with as a confident buyer is a happy buyer.

2. Never just ignore things

If you think you can adopt the head in the sand approach, then think again. Avoiding an issue, especially when you are so near to closing the deal, is not an option. Why would you put in so much effort only to allow it to slip through your fingers at the last moment?

3. Never rush the deal through

This is slightly different to the part of not getting into a panic because in this instance we are actually talking about not trying to push through a deal in the absolute fear that you are going to lose it. You are best to keep calm and understand that there are times where people do get nervous and are close to backing out, but if you start to show you are pushing them harder before they can perhaps change their mind, it is hardly going to end well for you.

4. Be willing to reopen negotiations

Just because you thought you had almost closed the deal, it does not mean that it is going to go through. If they are starting to show that they are getting nervous about it, then you need to be willing to open negotiations once again in order to actually get things pushed through. The only problem is that you need to understand what your bottom mark is going to be with the negotiation with the product since there is no way you can undercut yourself just for the sake of trying to get the deal. However, if you stick to your previous stance, then you are just making life harder when there is no reason for you to do so.

5. Provide more evidence to back up your stance

If you have discovered people are perhaps getting cold feet, then by going back into your sales pitch does mean that you can have a second attempt at trying to convince them they need to go ahead and make the deal. However, you should not just go over the same tried and tested ground because that would be crazy.

Instead, there is a real need for you to look at providing a lot more evidence that really does back up your stance and to convince them they are quite right to go ahead and make the purchase. As you can see, there are a number of things you can do to handle the situation when it seems as if it could all be going wrong for you. The very fact that you have shown the professionalism in trying to deal with the problem should be a real bonus for you.

15.4 What to do After Closing the Deal

So, what do you do once the deal is closed? Well, if you thought this would spell the end of your dealings, then in most instances you are greatly mistaken.

You see, it is always going to be better for you if you are able to identify things you can do that are going to help cement the relationship between not only yourself and the client, but also the client and the company.

The reason for this is simple.

Just because you have managed to get this one sale does not have to mean this is the end. It is surprising how often one sale can lead to another and if they are happy with what they purchased the first time, then at least you do not have to go through the same sales process and try to convince them from scratch the second time around.

However, in order to do this you have to be able to build a relationship with that individual or company and we will address this in another module since it does form an integral part of being a successful salesperson. At this moment in time it is sufficient to say that you need to just make sure that all the relevant paperwork has been completed for your company. You need to check the payment is being processed. You must also check that they receive the product or service as it was described and within the time limits set out.

In other words, you need to make sure that you deliver on everything you promised at the time of closing the deal.

A failure to do this will not only cause you problems, but rather it can provide the buyer with the opportunity to go back on the deal, simply because you did not stick to your side of the bargain. In other words, just because they have signed at the time does not have to mean it is an absolutely done deal as things can change and they could decide that they do not want to proceed and that can partly be down to something you have either said or done. What we are saying is that you cannot just wash your hands of the individual once they have closed the deal with you because, in a lot of cases, this is only the beginning.