If you’re passionate about winning new business, it’s natural that from time to time you’ll be nervous, or at least mindful of the need to successfully close new business.
When you’re a business owner, every sale takes you closer to the dream of building your business a little more. And every rejection can be felt personally.
So how do you win more business? By understanding all the different ways you can close sales, of course!
Commitment is the Goal
It’s one thing to get a prospect interested in your product or service. But it’s another thing entirely to get them to commit to buying it.
Whether you’re selling insurance, cars, or houses, understanding how to close a business opportunity is essential to success.
We’ll explore the psychology of getting a prospect to commit, how to build confidence asking for a sale, the reasons that some salespeople fail, and give you a list of 25 (yes, 25!!) closing techniques.
By the end, you’ll have a better understanding of how to close business opportunities and boost your sales.
The Psychology of Getting a Prospect to Commit
When you’re trying to close a business opportunity, it’s important to understand the psychology of commitment. Why? Because humans are naturally risk-averse creatures.
We’re wired to avoid anything that might put us in danger, even if that danger is only psychological.
Saying 'Yes' is Risky
Asking someone to commit to buying something is essentially asking them to take a risk. And in order for someone to take a risk, they need to feel confident that the potential reward is worth it.
So, your job as a salesperson is twofold: first, you need to make the prospect feel confident that your product or service is worth the investment; and second, you need to make them feel confident that they can trust you.
Building Confidence Asking for a Sale
The key to building confidence is establishing rapport. Rapport is the feeling of similarity or connection between two people. It’s what allows us to build trust and relationships with others. And when it comes to sales, rapport is essential.
There are several ways to build rapport with a prospect:
– Be genuine. Yes, professional, but people can spot someone being false a mile off.
– Mirror their body language
– Find common ground
– Ask questions about their interests
By establishing rapport with a prospect, you’ll be able to build the trust necessary to close business opportunities.
Reasons Some Salespeople Fail
Despite all of this advice, some salespeople still fail when it comes time to close business opportunities. There are several reasons why this might be the case:
- They didn’t establish rapport with the prospect
- They didn’t do their research and understand the needs of their prospect
- They came across as pushy or aggressive
- They didn’t have enough knowledge about their product or service
Avoid these mistakes and you’ll be well on your way towards closing more business opportunities successfully.
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Closing Techniques
Before we get into the closing techniques you can adopt. Remember, that if you haven’t built interest in your solution and matched your offering to the prospects needs, you’re not going to be successful.
Closing techniques are just that – to be used at the end of the sale, to wrap things up and gain commitment. The work that comes beforehand is just as important, so you’re primed to get a yes.
Let’s dive in.
The Authority Close
When you are closing a sale, it is important to have an effective technique to help you seal the deal. One such technique is known as the Authority Close.
The Authority Close is a way of convincing the customer that you are an expert in the product or service that you are selling.
You do this by stressing the importance of the decision that the customer is making, and by emphasising the benefits of choosing your product or service.
Build Credibility for the Authority Close
In order to use the Authority Close effectively, you must first build up your credibility with the customer.
This can be done by demonstrating your knowledge of the product or service, by providing excellent customer service, and by being responsive to questions and concerns.
Once you have established your credibility, you can use the Authority Close to close the sale.
Statements of Authority
The Authority Close involves the seller making a statement of authority or expertise, and then using that authority to close the sale.
You should stress the importance of the decision that the customer is making, and explain how your product or service can benefit them.
You should also remind the customer of any commitments that they have made, and ask them to confirm that they want to proceed with the purchase.
If the customer agrees to buy your product or service, be sure to follow through on your commitments, and thank them for their business.
The Direct Question Close
The direct question close is a sales technique in which the salesperson asks the prospect a direct question about whether they are ready to buy the product or not.
It’s a way of getting the customer to make a decision, by asking them a direct question. You should ask the customer what their plans are, and whether they are ready to buy your product or service.
High Risk, High Reward
The ‘direct question close’ can be an effective way to close a sale, as it puts the prospect on the spot and forces them to make a decision. Use this in situations when the prospect is hesitating or when the salesperson is trying to overcome objections.
There are a few things to keep in mind when using the direct question close, such as making sure that the question is relevant to the prospect and that the salesperson is prepared to handle any objections that the prospect may have.
The Bundle of Benefits Close
The Bundle of Benefits Close is a sales technique that involves offering the customer a bundle of products or services at a discounted price if they agree to the purchase quickly.
The idea behind the Bundle of Benefits Close is that the customer will be more likely to purchase the products or services if they are offered at a discount.
The Bundle of Benefits Close can be an effective sales technique, but it is important to make sure that the products or services being offered are actually beneficial to the customer.
Otherwise, the customer may feel like they are being taken advantage of and may be less likely to purchase from you in the future.
The Ben Franklin Close
Another option is what’s known as the “Ben Franklin Close.” Named after one of America’s Founding Fathers, the Ben Franklin Close is a technique that involves asking your potential customer a series of questions that will help them come to the decision to buy from you.
Let’s take a closer look at how the Ben Franklin Close works and some examples of how you can use it in your next sales pitch.
What is the Ben Franklin Close?
The Ben Franklin Close is named after Benjamin Franklin, who was known for his use of questioning to get people to come to a decision.
The idea behind the Ben Franklin Close is that by asking your potential customer a series of questions, you can help them come to the realisation that buying from you is the best decision.
It’s important to note that the Ben Franklin Close is not about being pushy or manipulative. Instead, it’s about helping your potential customer see that buying from you is in their best interest.
The Impulse Buyer’s Close
The Impulse Buyer’s Close is a sales technique that can be used to close a sale with a customer who is impulsive or indecisive. To use this technique, the salesperson first identifies an impulse buyer by asking questions about the customer’s buying habits.
Once the salesperson has identified an impulse buyer, they will then use a variety of techniques to close the sale, such as offering a discount or a free gift. The goal of the Impulse Buyer’s Close is to take advantage of the customer’s impulsive nature and get them to make a purchase that they may not have otherwise made.
The psychology of 'The Impulse Buyer's Close'
This close relies on the fact that people are more likely to make a purchase if they feel like they’re getting a good deal. By offering a discounted price or a freebie, you can increase the likelihood that your prospect will make a purchase on the spot.
How to use 'The Impulse Buyer's Close'
There are two key components to using the Impulse Buyer’s Close effectively. First, you need to make sure that you’re offering a discount or freebie that is actually appealing to your prospect. If you’re selling a product that your prospect doesn’t really need, they’re not going to be swayed by a 10% discount. Second, you need to make sure that you deliver the close in a confident and persuasive manner. If you come across as desperate or pushy, your prospect is likely to back away from the deal.
The benefits of using 'The Impulse Buyer's Close'
It can help you close sales faster, as your prospects are more likely to make a decision on the spot if they feel like they’re getting a good deal.
It can also help you increase your average order value, as prospects are more likely to add additional items to their order if they feel like they’re getting a good deal.
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The Alternative Closing Technique
There’s a new kid on the block when it comes to closing techniques, and it’s called the Alternative Closing Technique.
We’ll take a look at what the Alternative Closing Technique is, how it can be used, and some example questions that you can use to close the deal.
What is the Alternative Closing Technique?
The Alternative Closing Technique is a sales technique that involves asking the customer a series of questions that leads them to believe that there is no other option than to buy your product or service.
This technique is also known as “The Yes Ladder” because it involves getting the customer to say “yes” multiple times before they finally say “yes” to buying your product or service.
How can it be used?
The Alternative Closing Technique can be used in any sales situation where you are trying to close the deal. It’s especially effective when you’re selling a high-priced item because it allows you to build rapport and trust with the customer before asking them to make a decision.
Example questions that can be used:
1. Do you want to save money?
2. Do you want a product that is high quality?
3. Do you want a product that is easy to use?
4. Would you like a demonstration of how this product works?
5. Is there anything else stopping you from buying this product today?
6. Would you like me to walk you through the purchase process?
7. Are you ready to buy this product now?
8. Thank you for your purchase!
The Assumptive Close
The assumptive close is based on the principle of taking control of the sale by making assumptions about what the customer wants. It’s a way of steering the conversation towards a successful conclusion by making it clear that you’re confident in your ability to provide what they need.
What is the Assumptive Close?
The assumptive close is a sales technique that involves taking control of the conversation and steering it towards a successful conclusion. It’s based on the principle of making assumptions about what the customer wants and needs, and then confidently moving forward with providing them with what they need.
It can be used to persuade someone to do something that they may not be inclined to do. The technique works by making an assumption about what the other person wants or needs, and then offering a solution that meets that need.
By making assumptions about what the customer wants and needs, you’re able to take control of the conversation and steer it towards a successful conclusion.
How to Use the Assumptive Close
The key to using the assumptive close effectively is confidence. You need to be confident in your ability to provide what the customer wants and needs. This will come across in your body language, your tone of voice, and your words.
It’s also important to make sure that you’re not making assumptions that are too far-fetched. If you do, it will be obvious to the customer and they’ll see right through you.
For example, if someone comes into your store looking for a new pair of shoes and you try to sell them a new car, it’s going to be pretty obvious that you’re just trying to make a sale without actually caring about their needs.
The Objection Close
One common objection that businesses face is that their product or service is too expensive. If you find yourself in this situation, try using the objection close.
This involves acknowledging your customer’s concerns and then providing a compelling reason for why your product or service is worth the price. For example, you might say something like, “I understand that you’re concerned about the price of our product. But what you have to keep in mind is that our product is made with high-quality materials and backed by a 100% satisfaction guarantee.”
You can combine this with the conditional close- ‘if I guarantee you complete satisfaction and add this to the agreement, can we go ahead today?’
The Needs Close
Another effective sales closing technique is the needs close. This involves identifying your customer’s specific needs and then showing how your product or service can address those needs.
For example, if you’re selling a new software program, you might say something like, “Based on what you’ve told me, it sounds like you need a software program that can help streamline your workflow. Our program is designed to do just that.”
The Empathy Close
The empathy close is all about building rapport with your customer and establishing trust. This can be done by simply showing that you understand their situation and are there to help them solve their problem.
If a customer tells you that they’re struggling to meet their sales goals, you might say something like, “It sounds like you’re feeling frustrated because you’re not sure how to increase your sales. I’ve been in that situation before and I know how difficult it can be. But I’m here to help you figure it out.”
The Sharp Angle Close
The sharp angle close is a more aggressive technique that should only be used in certain situations. This involves pointing out a potential negative consequence of not buying your product or service.
If you’re selling a security system, you might say something like, “If you don’t have a security system in place, there’s always the risk of break-ins and theft. But with our security system, you can rest assured knowing that your home is safe.”
The Take Away Close
The take away close is another aggressive technique that should only be used sparingly.
This involves telling the customer that they need to buy your product or service now or risk losing out on the opportunity altogether.
For example, if you’re selling tickets to an event that’s about to sell out, you might say something like, “If you don’t buy your tickets now, there’s a good chance they’ll be gone by the time you come back.”
The Visual Close
The visual close is a great technique to use when you want to drive home the benefits of your product or service.
Simply put, you show your prospect what their life will look like after they make the purchase.
Let’s say you’re selling a new skincare routine. You might say something like, “Just imagine how good you’ll look and feel after using our products for just 30 days.”
This technique works because it helps your prospect visualise the positive outcomes of making a purchase.
The Now or Never Close
The now or never close is exactly what it sounds like—you tell your prospect that if they don’t buy now, they’ll never get another chance.
This technique works best when you have a limited quantity of your product or service available, or when you’re running a time-sensitive promotion.
You might say, “We only have a few units left at this price, so if you want one, you need to act fast.”
The sense of urgency created by this technique can be very effective in getting prospects to pull the trigger on a purchase. It plays on people’s fear of missing out.
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Columbo Close
Named after the iconic TV detective, the Columbo close is all about playing hard to get. With this technique, you act like you’re about to walk away from the sale—but not before dropping a final objection-busting offer.
For example, you might say, “I think that’s everything… Oh wait! I almost forgot. We’re also throwing in a free month of our premium service with every purchase.”
The Columbo close also works because it creates a sense of FOMO (fear of missing out) in your prospect, prompting them to take action so they don’t miss out on your great offer.
The Free Sample Close
The free sample close is another great way to get prospects over the finish line.
With this technique, you simply offer your prospect a free sample of your product or service.
Let’s imagine you’re selling coffee beans, you might offer your prospect a free bag of beans with their purchase.
Or if you’re selling software, you might offer a free trial period. This technique works because it allows prospects to try before they buy—and once they see how great your product or service is, they’ll be more likely to make a purchase.
This plays on the principle of reciprocity, where people feel the need to repay a good deed they have been the beneficiary of.
The Low-Ball Close
The low-ball close is a classic sales technique that involves offering a customer a product or service at a significantly discounted price. For example, if you’re selling a product that’s normally £100, you might offer it to the customer for £50 on the basis they go ahead quickly.
The key with this technique is to make sure that the customer knows the full value of the product or service before you offer them the discount.
That way, they’ll be more likely to take advantage of the deal.
The Summary Close
The summary close is a great way to get a quick yes from a customer who is on the fence about making a purchase.
Basically, you just summarise all of the key points of the sale and then ask the customer if they’re ready to buy.
For example, you might say something like, “So to recap, we’re offering you ABC product at a 10% discount off the regular price.
It comes with free shipping and a 30-day money-back guarantee. Are you ready to buy now?”
By confirming back all the information to the customer, you’ll get a series of micro commitments from them as well, making the final ‘yes’ a tad easier.
It’s also just good practice to confirm things back to make sure you haven’t missed anything!
The Artisan Close
It’s no secret that people love feeling like they’re getting a deal on something unique and special. That’s where the artisan close comes in.
With this technique, you market your product or service as being handcrafted or made by skilled artisans using high-quality materials.
This makes your offer feel more exclusive and luxurious, which can entice customers to make a purchase.
For example, let’s say you sell handmade jewellery. You could market your jewellery as being made by skilled artisans using only the finest materials available.
This would make your jewellery feel more exclusive and luxurious, which would entice customers to buy it.
Not only Products
This technique works just as well with services – you can position yourself along the lines of ‘well, we don’t normally do this, but we could adapt the service to offer you something unique. No one else would be getting this, but I think it’s right for you.’
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The Opportunity Cost Closing Technique
The opportunity cost closing technique is all about showing your prospect what they stand to gain by doing business with you.
For example, let’s say you’re selling a new CRM system to a small business owner. You could close the deal by saying something like, “If you don’t invest in this CRM system, you’ll miss out on the opportunity to increase sales by 20%.”
By highlighting the potential benefits of your product or service, you can increase the likelihood that your prospect will make a purchase.
The Fear of Loss Close
The fear of loss close is based on the premise that people are more likely to take action to avoid losing something than they are to gain something.
So, if you want to close a sale, try using this technique.
Let’s say you’re trying to sell a website subscription to a potential customer. You could say something like, “If you don’t sign up for our website subscription, you’ll miss out on access to our exclusive content.”
By stressing the negative consequences of not taking action, you can increase the likelihood that your prospect will make a purchase.
The fear of missing out can be a huge motivator for people!
The Scale Close
The scale close is all about showing your prospect that their purchase is just a drop in the bucket compared to your overall business.
This technique is often used by businesses that sell high-ticket items or services.
If you’re selling a £5,000 marketing package to a small business owner, you could close the deal by saying something like, “This marketing package is just a drop in the ocean compared to our £1 million ad budget, but it’s the size of our ad budget overall that means our customers gain so much from their spend with us.”
By stressing the size of your business, you can increase the likelihood that your prospect will make a purchase.
The Testimonial Closing Technique
The testimonial closing technique is all about using social proof to close a sale. In other words, if other people have bought from you and been happy with their purchase, then chances are your prospect will be too.
So, if you want to close a sale using this technique, try using customer testimonials or case studies.
You could close the deal by saying something like, “I’ve helped hundreds of people start their own businesses and they’ve all had great success.”
By highlighting your track record of success, you can increase the likelihood that your prospect will make a purchase from you.
Be prepared to back it up by connecting your prospect with real life happy customers who will speak to the quality of what you do!
The Ownership Closing Technique
The ownership closing technique is all about making your prospect feel like they already own what you’re selling before they even make a purchase.
In other words, it’s all about creating an emotional connection with your product or service. For example, let’s say you’re selling a luxury watch.
You could close the deal by saying something like “This watch isn’t just another timepiece; it’s an heirloom that will be passed down for generations.”
By making your prospect feel like they already own what you’re selling before they even make a purchase; you can increase their emotional attachment to it and increase the likelihood a sale will be made.
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The Name Your Price Close
This closing technique is based on the simple idea that people are more likely to say yes to a request when they feel like they’ve had a say in deciding the terms. So, instead of coming up with a price on your own, why not let your prospect name their price?
Of course, there are a few ground rules for using this technique effectively.
First, make sure that you have a good understanding of what your product or service is worth.
You don’t want to leave money on the table by letting your prospect name a price that’s too low.
Second, be prepared to negotiate. Even if your prospect names a price that’s lower than what you were hoping for, remember that it’s still better than no sale at all.
Finally, don’t be afraid to walk away if you can’t come to an agreement on price. Remember, the goal is to win profitable business, not just any business.
The ‘Best Time to’ Closing Technique
This closing technique is based on what psychologists call the ‘Zeigarnik effect’, which states that people are more likely to remember unfinished tasks than finished ones. In other words, once we start something, we feel a need to finish it.
You can use this effect to your advantage by asking your prospect when would be the best time to follow up with them about your proposal (assuming they’re interested).
By doing this, you’ll not only get an indication of whether or not they’re actually interested in doing business with you, but you’ll also plant the seed in their mind that they need to finish evaluating your proposal.
And as we all know, finishing something is much easier said than done!
The Thermometer Closing Technique
The thermometer closing technique is based on what’s known as social proof – the idea that people are more likely to do something if they see other people doing it. In other words, if everyone else is doing it, it must be okay!
You can use this technique by sharing information about how popular your product or service is with other customers.
For example, you might say something like “80% of our customers who try our product end up buying it” or “We’ve helped hundreds of businesses just like yours increase their sales by X%”.
When prospects hear this kind of social proof, it helps increase their confidence in your product or service and makes them more likely to buy it themselves.
Closing Techniques - Final Thoughts
As we’ve seen, there are plenty of sales closing techniques that are both effective and painless to use. So next time you’re in a meeting with a prospective client, try out one of these techniques and see how it goes!
If you’re in sales, then you know that the ability to close a deal is essential to your success. But if you’re like most salespeople, you probably have a love-hate relationship with closing techniques.
Find the Right Fit
On the one hand, you know that using the right technique can be the difference between winning and losing a sale. But on the other hand, many of the techniques out there are so hokey and salesy that they make you cringe just thinking about them.
The good news is you now have a Swiss army penknife’s worth of different options. Try a few out until you find what feels natural to you.
In practice, most great sales people use a combination of the techniques in this guide and don’t rely solely on one big close at the end, but instead use these techniques through their sales calls to build commitment until the final yes just drops into place!