You’ve done your sales prospecting, initiated a relationship, scheduled a meeting, and performed a demo. Now comes the part that many sales reps dread.
Closing the deal.
However, closing a deal is arguably the most important part of the sales process. It’s what turns casual observers and interested parties into real, paying customers.
The close is also the part that helps you earn commission and hit your sales quotas. Your ability to close the deal will largely determine your success as a sales rep. Those that quickly close the deal will be able to sell more than those that drag their feet.
You might be wondering how to be a better closer in sales. Whether you are an outside sales rep or working in inside sales – don’t worry; we’ve got you covered. Here’s what you need to know about how to close a deal in sales as quickly as possible and some closing techniques to help you get started.
9 Actionable Tips to Close the Deal Faster
1. Do Your Research
How quickly you can close the deal with a client starts before your actual close. Your close will take significantly longer, for example, if you are thrown off-guard by a question you weren’t anticipating. If you do your homework to figure out the potential objections up-front, you can answer knowledgeably right then and there, making the process much faster.
Before you engage in closing the deal with a client, make sure that you have done your research. You should know their goals, pain points, and the main decision-makers within the company. While the first phone call and conversation won’t have everyone there, try to get all the decision-makers in on the conversation as soon as possible. Your close needs to be geared to their challenges and needs, and you should be prepared for any potential objections.
2. Be Genuine
Sales prospects can tell right away when a sales rep views them as another chance to make a sale instead of as a person.
While you should be prepared for their potential objections, you also need to make sure you’re not coming across as calculating.
When they are speaking, actively listen to what they are saying. Many sales reps make the mistake of listening long enough to pull out a pre-meditated answer. Instead, show that you care about their business and concerns and are looking out for their best interests.
3. Close With the Solution, Not the Product
Your close needs to concentrate on your client, not your product or service. Instead, focus on how you can be a solution to their challenges. Not every situation and sales prospect are the same, so your closing technique should change accordingly. There’s no way to know what your prospect’s challenges, needs, and goals are unless you ask questions and tailor your method accordingly.
Make it clear how your product or service will benefit their business directly. If you push a product that doesn’t seem to have clear value for your prospects, you are far more likely to lose their attention, respect, and not close the deal.
4. Ask Questions
Closing the deal should not be a one-sided conversation. Asking questions will ensure that you have buy-in from the prospect and enables you to answer any lingering questions that they might have.
When doing your research, come up with questions to ask your prospects. It can keep the conversation going, ensure that your close is headed in the right direction, and is a good closing technique. It is also important to not rush to fill any silence that may come up. Don’t rush to speak for your customer. Let phrases hang for a minute. If they simply say “no,” for example, give a moment of silence to allow them to tell you why. Also, avoid “and/or” questions. Encourage yes or no answers to get more definitive, helpful responses from your prospects.
5. Close the Deal Faster With Account Mapping
By utilizing Map My Customers, your sales reps will have a clear picture of where they need to focus their attention and when. Mapping and route optimization tools can help make getting to prospects faster and more efficient — saving your team a lot of time (often 30% in windshield time on average) and resources. All of this allows your reps to close the deal much faster.
Territory management tools also help to increase accountability, transparency, and communication. They give you and your team the visibility to understand where the greatest opportunities lie.
6. Utilize a CRM to Boost Automation
If you’re still trying to manually keep up with prospects in hard copy form or even using a CRM but still using a lot of manual processes, you can significantly speed up processes and close deals much faster. This is done by utilizing the automation capabilities within a CRM.
Many of the leading sales CRMs allow you and your team to automate the daily repetitive tasks that take up so much time. These activities help shorten the sales cycle and enable your sales reps to do their job more efficiently.
You can automate follow-up communications, meeting check-ins, updates to sales data, and more. Freeing up more time and resulting in your sales reps closing the deal much faster.
7. Create a Sense of Urgency
The fear of missing out is a very powerful thing. An easy to implement closing technique to help close the deal faster is to create a sense of urgency, and to not make your customers feel comfortable. Instead, create urgency and directness to close the deal. Urgency is what puts the pressure on the sales prospect to act.
Put a deadline on the deal and price to give the client an incentive to commit, so they don’t miss out. You can do this by creating a temporary price discount or offering a free add-on. Give the prospect the feeling they have the upper hand in the deal, but be careful not to rush the customer and end up pushing the sale away. Just present an extra reason why right now your product or service is the best choice for them.
8. Respond Quickly to Quote Requests
One of the things that can often take up too much time at a critical part of the buyer’s journey is when a lead requests a quote. A long wait at this point in the sales cycle can significantly impact the potential for close, and is an example of a bad closing technique.
That is why automating your quote creation and responding quicker is a key tip in mastering how to close deals faster. Even the most complex quotes can be created in minutes using a Configure, Price, Quote (CPQ) tool. Because the CPQ tools are often cloud-based, you can customize ready-made sales quote templates on any device to save substantial time. CPQ tools are sometimes now included in sales CRMs or available as an easy-to-use add-on.
9. Be More Comfortable with a “No”
This may be one of the top reasons that closing the deal tends to linger instead of ending in a sale. Sales reps are afraid to ask for the sale, because they are afraid of the answer “no.” They tip-toe around the ask and drag the process along, hoping for a sure sign of a “yes.” However, sales rejection is a part of the job, and successful sales reps aren’t dissuaded by it. Try your best to stay motivated in the face of sales rejection.
When it comes time to close the deal, ask for the sale. When you do hear a “no,” don’t take it personally. Don’t become defensive or try to argue when your sales prospects say no. Not only will you lose their business then, but you’ll destroy any future possibility of talking to them again. Instead, offer another alternative or simply accept it. The less you get defensive, the bigger possibility that they may come back to you in the future.
It is also important to note that, while the market may be tight, don’t destroy your company for the sake of closing the deal. Conditions should be beneficial to everyone, including you. If the deal is hurting your bottom line, it may be better to walk away. Walking away is a closing technique that can be extremely difficult, but could benefit both parties by doing so.
Closing Questions that Sell
There are a number of closing questions that a sales rep can implement in their closing technique to help them close the deal. Here are some winning questions to get you started on closing your deals:
- Does this sound like something that would be valuable to you/your company?
- Can you tell me a reason to not move ahead with a deal this month?
- Why don’t you give it a try?
- Taking all of your needs into consideration, here are the two options that will work best for your company. Would you like to go with X or Y?
- Have we earned your business today?
- Is this a resolution to your current business challenges?
Close the Deal & Land More Sales
The more deals you close, the more sales you can make. While it may be intimidating to finally ask for the sale, it does get easier with practice. As long as you are doing your homework, showing how you can help your prospects, and making their needs your chief concern, you are on the path to success in closing the deal.
Using technology to understand and optimize your sales cycle is a great first step in decreasing your team’s time from start to close. Different tools can also show you how current sales efforts affect your bottom line, let you understand where to make improvements, and automate many of your and your team’s processes. This will empower your sales reps to close the deal lightning fast.
Don’t have the tools to help you optimize your sales cycle or better understand your data and customers? See how Map My Customers can help you start making data-driven decisions, shorten your sales cycle, and how to close a deal more efficiently.