According to a recent Hubspot survey, over 70% of salespeople list closing more deals as their number one priority.
Closing sales is why you do what you do.
Closing sales is how you make a living.
Closing sales is getting harder.
According to CSO Insights and Miller Heiman Group, the number of salespeople hitting their quotas has dropped 10% in the past six years. And half of the deals that are forecasted to close... don’t.
You devote a lot of energy to gaining leads and improving your sales strategies, but that doesn't mean anything if you aren’t actually closing sales when the time comes. B2B customers can be pretty resistant to sales pitches, which means that your sales team needs to be on point to get the highest possible conversion rate out of your leads. We examine 5 stellar closing strategies that can help your team get a higher ROI on their sales efforts and help grow your business.
Let’s dive in.
1. Assumptive closing
As assumptive closing is often referred to as a presumptive close or assumptive selling. The tactic is more or less just what it sounds like. In assumptive closing, you act as if the sale is already guaranteed. This positive attitude causes your lead to explore the next steps further.
- Key elements of an assumptive closing: Confidence. Positive attitude. Speaking as if the lead has already committed to the sale.
- Examples: "Which package do you think we can get you started with today?" "Would you like to start with package X or jump into package Y right away?"
2. Summary closing
A summary closing is a very traditional closing method. In this strategy, your closing pitch is a summary of your product's advantages and features. By summarizing the highlights of your product, you lightly push the customer to answer in the affirmative when you conclude with a sort of call to action.
- Key elements of a summary closing: Summarizing the benefits and value of your product to bring positives to the forefront before a decision.
- Example: "Package X includes feature A, which helps productivity, as well as feature B, which massively enhances your team's speed. Would you prefer an annual plan or a monthly subscription?
3. Question closing
A question closing flips the script on your lead and presses them to ask any questions or list any concerns that they may have. This brings out any objections that they may have so that you can address them before they influence the customer's decision. Once they discuss their concerns, you address them directly before closing the deal.
- Key elements of a question closing: Discover the individual lead's objections to the pitch and directly address them before moving forward. Leverage information about their reservations to drill into the specific benefits that the product can give them.
- Example: "Our product seems the perfect solution to the problems that you've discussed encountering in the past. Are there any other reasons that we can't move forward with signing you up today?
4. Feel/Felt/Found closing
A feel/felt/found closing is also referred to occasionally as an empathy closing. In this strategy, you address a specific problem that your lead has by letting them know that you understand. By demonstrating that you understand how they feel and that others have felt this way, you can easily segue into utilizing customer testimonials to temper their concerns. This gives you an opportunity to demonstrate that other clients who have felt this way had their needs met by your product in the end.
- Key elements of a feel/felt/found closing: Empathize with your lead, and let them know that they are not the first to have these reservations. After, demonstrate how your product has assuaged the worries of those who felt this way before.
- Example: "I understand your concerns about price, I would be cautious in your shoes as well. A previous client we've worked with, X, was also hesitant for the same reasons. After we showed them how companies A, B, and C were able to increase their revenue using our product, they decided to give it a go, and it paid for itself almost immediately."
5. Deadline closing
A deadline closing is pretty self-explanatory. In this strategy, you tell the prospective customer that the deal you are offering is only available for a limited time. This could push your lead to a decision, although if you're not careful, it could be a decision you don't want. Deadline closings can be dangerous because the customer's objections need to be addressed before putting them on the spot, or it can be a quick way to lose a lead. This strategy should only be used when the deadline is very real and a quick decision is needed.
- Key elements of a deadline closing: Give the customer a hard time limit to make a decision so that they are prompted to act. Be truthful with leads about deadlines, and don't attempt to force a decision before all of a potential customer's reservations have been addressed and rebuffed.
- Example: "I can only offer this price quote until the end of the week. Unfortunately, our pricing model is being re-worked at that time so today may be your last chance to lock in this package at such a low price and high value."
With these strategies at your disposal, you’ll be closing deals in no time.
Get to the Closing Stage Faster with Partnered
Partnered is a network that empowers B2B sales and connects you with a large network of partner sales teams. You can utilize these partnerships in our fully automated platform to leverage partner data for key insights that your sales team can use to get better leads, save time prospecting, and ultimately, close more deals.
If you'd like to lead more about how Partnered can help you get the most out of partnerships and eliminate wasteful cold calling and prospecting join us today.