“Closing” is the hardest part of any sales rep job. It is crucial to get your prospects to sign the sales deal, otherwise a sales rep can’t hit the sales quota. Closing can be really tricky and one wrong move can delay or obstruct the whole process.
Developing the right skills and techniques for making effective sales takes time and sincere effort. However, one should also have the ability to learn from his/her mistakes and failures while doing so. An inside sales rep must have the intent to determine what worked and what didn’t after both, a successful or an unsuccessful attempt, or else the scope of improvement is truly sparse.
Without a right closing technique your leads just remain as leads. An inside sales manager must work closely with the sales team to make sure that they stay away from making these simple closing mistakes:
Relying on Material to Close the Deal
Sales and Marketing materials such as brochures, website, social media and others can only act as a medium to open a conversation with the prospect. But that alone can’t sell your product specifically in a B2B environment. Customers are only going to buy after they discuss and understand about the product with a sales rep and assess the value that it will deliver for their organization.
Stepping on the Close too Soon
Many sales reps are advised to follow the ABC (Always be Closing) rule. But when you ask for a business from your prospect at a very early stage, you end up sounding pushy and desperate. Instead of just asking the prospect “Can we have the discussion tomorrow?”, ask an additional question such as “Or, will you be available sometime in the week?”. Don’t give your prospect a chance to eliminate your request rather push him/her towards a simple “yes” or “no”.
Speaking Negative about the Competitors
Criticizing about your competitors and their offerings would ultimately create problems for you. People hate dealing with negative people. Also, it is possible that your prospect shares a personal relationship with a rep of the competitor you are condemning about. Be ready to bear the consequences then as you are only liable for what you are speaking. Instead, try to sell your solution above and beyond your competition. Invest time in building personal relationships with your customers and let them understand the value of your offering.
Closing with People who can’t Deliver
An inside sales representative in B2B sales speaks to multiple stakeholders in a company. Although in most of the scenarios, only a few of those employees have the authority to make any purchasing decision regarding any product/service. So, always ensure that the sales rep are selling and closing to the real decision-makers.
Waiting too Long
There is a final closing point in every sales conversation when a rep should ask for business. If you drag the conversation beyond that point, it might make your customer raise concerns or issues that didn’t exist before or a problem that your offering can’t solve.
Selling after the Close
Never continue to talk about your solution after a customer has confirmed that he/she is willing to buy it. Mentioning about additional features and capabilities might raise new objections. So, keep quiet and just take the order.
Many sales representatives adopt this technique when they are under a pressure to hit their quotas. Offering special discounts or other incentives punishes the customer for not making a decision on your time. This is one of the worst ways of selling. It does not give the customers a chance to ask questions or raise objections or to discuss their needs with you. It may also make them wonder why you’re so anxious; leading them to believe your company just wants their money.
In my opinion, the term closing is more than just the ultimate buying decision of the customer. Understanding closing techniques is important, but there are no magic words to guarantee that you make the sale. A sales rep should always start by helping the customer identifies his needs and then demonstrating that the product or service offers an affordable solution that addresses those needs. With that foundation, a good closing will help you close the deal and grow your business.