When you close a business deal, you are not selling, but…
Close a business deal should always be the easiest part of a successful commercial relationship. If you are shaking like an autumn leaf in a full storm, something is going wrong.
Too often, we all come across salespeople, or “sales-people,” who don’t know how to close a business deal professionally. The most common procedure is to shoot all arguments they can find to get you to “surrender” and buy.
If you master the correct closing technique, it will become a pure formality. Why? Because the selling is already made!
The article I wrote five years ago about different closing techniques is still valid (in fact, it will never be obsolete). However, here we will dive deeper into how to close a business deal like a pro. In the online world, we call it conversion, and applying the tips in this article will surely improve your conversion rate.
The 3 Steps Method to Close a Business Deal Professionally
During the first step, when trust is vital, your job is to determine the customer’s needs as detailed as possible.
In the second step, the adaptation to the needs becomes the road map for your entire pitch. If you have found the customer’s needs, she or he doesn’t want to listen to a lot of BS arguments about your product or service. The only thing that matters is how your product adapts to the customer’s needs.
The last part of these three sales preparation steps shows how your product fulfills the customer’s needs. It’s the proof of what you have been communicating so far.
Translating these steps to the online business world involves connecting your initial ad on the web, the landing page, and the final thank you page. All have to be congruent. If you miss any part in these three steps, you will have a “broken link” that won’t lead to any sales.
I emphasize these steps because most people think that the problem is in the closing phase when the “broken link” in the initial phase causes the problem.
Believe me, closing a business deal is the easiest part if the link isn’t “broken.” The closing consists of a battery of questions your customer has to respond to positively. In other words, you will help the customer make a purchase decision by confirmative answers to your questions.
There are three types of questions to use.
As the title indicates, it’s about giving the customer two alternatives to choose from. But the way you set up the alternatives will be decisive for your closing. If you ask straightforward the customer if he or she would like to buy, there are two alternative answers:
Yes or No
And can you guess what the most common answer is?
There exist many ideas about why a customer says “No.”
It’s not necessarily because the customer doesn’t like your product, but rather because of the psychological uncertainty if it’s the right moment to make the purchase. The solution is quite simple.
Give the customer two alternatives to choose from, and both will lead to a purchase, like,
With this technique, you eliminate the “no” alternative, and you will substantially increase the probability of closing the deal.
The entire closing process is about helping your customer make a purchase decision. It’s helpful to apply when you notice that the customer is “hooked up” on a particular product. Still, there could, for example, be a financial issue to solve.
You can get the LaunchPad package at a heavily discounted one-time cost of $997, or you can do as many of my customers do; you pay $197 today, and you’re in, and then $99per month as you go.
Which alternative seems to fit your situation the best?
In this case, you help your client decide based on monthly payments if the money is the hurdle. Did you see how the whole question sequence ended up with an alternative question?
Refer to a third party
In the “Partly decision” case, the observant reader can also notice that we refer to what I call a third party; “…you can do as many of my customers do;….”
No matter how much trust you build with your audience, at the end of the day, you’ll always be a sales rep in the customer’s eyes. Psychologically it can “calm down” the customer by listening to people on the “same level.” A customer can always identify him- or herself with other customers, and only referring to other customers can give a positive push toward a purchase decision.
In the example above, the purchase process is very close when the “third party” technique is used together with a partial decision and an alternative question. However, there are cases where you need another distance to go before your customer is ready to make that breakthrough decision.
In those cases, having a wildcard hidden in your sleeve is always good. It should be something irresistible to refuse.
Something like this:
“Many of my clients who love what we are presenting just don’t feel ready to make any investment at this point. If you think you belong to this group, you should go for the free Starter Account.”
Close a Business Deal; It’s All Up to You
Here are the links to the two earlier articles:
By the way, watch the video I released five years ago. It’s still valid. Sales will always be sales, and the fundamental basics never change.
The three online business alternatives mentioned in the articles are:
Which one will be your choice?
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Jan O. Nilsson – How to Close a Business Deal Like a Pro <==Go to the top of the page