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Innovative ways you can close a deal for your business

4th March 2021 Print

A business is usually developed with the intent to make as many sales as possible. Fundamentally, the more sales a company reaches, the more successful it will be. Making a sale sounds easy in theory, but it can be a bit more difficult in practice. Entrepreneurs often find themselves fighting hard to close a deal with a customer (and many times getting nowhere).

Closing a deal can be risky, and the outcome is always unknown, but this is also what makes it so thrilling. As making the sale is your outcome, you must ensure that you take all the necessary steps to achieve this. In this article, we will provide you with innovative ways to close a deal for your business to increase your chances of success.

Discover The Customer’s Needs

First and foremost, you need to be aware that making a sale is not necessarily about you – it is about what the client wants and needs; thus, this should be your main focus. If you are not sure of what your customer’s needs are, ask them. By asking them directly, you give them the impression that you care about as individuals more than you care about making a sale. This will build your relationship with the prospect and increase your chances of closing a deal.

Do Not Give Up Easily

Research studies have shown that most customers do not say yes to a sale the first time around. These same studies also suggest that sales representatives often give up easily. This shows that prospective clients require a bit more persuading than you may think. This does not mean you have to become forceful that you will scare them away. Just make sure that you stay in touch and maintain a good relationship with the client until you get a positive outcome.

The Sales Pitch

As you may know, this is one of the most important steps in closing a deal. During the sales pitch, you will make your product and/or service attractive to the client to the point they cannot leave without buying it. Although your speech needs to be on point, it should also be accompanied by a visual presentation or sales deck. Even though you can research examples of sales decks and use these for your own presentation, you must specifically tailor your sales deck to your client and their needs. Additionally, when you deliver the presentation, make sure to be confident and understand what you are talking about. The more confident you are, the more likely you are to persuade potential customers.

The Assumptive Close

This method is essentially founded on the idea that you strongly believe that this sale will happen as soon as you put some effort into it. You will need to use appropriate language to suggest that you believe you have already closed the deal. The main point is to constantly gauge how interested the client is, if there are things they disagree with and if they are on the same page. This method works because the customer will absorb your positivity and confidence, and if they see you firmly believe in something, they are more likely to go for it.

The Now or Never Close

This fundamentally entails providing your potential customer with an offer to lightly pressure your client into closing a deal. This can look like advising customers that you only have a certain amount of product items left, saying the price is at its lowest, but this will change quickly, and offer them a discount if they commit today. Doing this will give the customer the impression that they are missing out on something, and they as will close the deal now before the costs increase significantly. Evidently, you should only take this approach when you are in a good position to offer discounts, not to suffer financially.

The Takeaway Close

This notion is straightforward. If the client is already aware of your service and/or product’s benefits but still does not appear to be interested in some aspects, remove these. By getting rid of certain features, you can drop the price and check whether this incentivizes the customer. The cost is one of the main reasons customers object to purchasing the product; therefore, once this starts dropping, they will be more likely to say yes to your proposition.

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Closing a deal is one of the most important steps for your business, as this will ensure that sales continue to increase for you. Make sure to follow some of the steps discussed above to increase your chances of success when closing a deal for your business.

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