Monday, August 18, 2014

Phone Skills 101: The Art of Closing

If you've been in sales for any reasonable amount of time, you probably have been told repeatedly that closing is the most important skill that you will need to learn to be a successful sales person. And it's 100% true. Sure, knowing your product, your customer and being able to present a solution with a clear value proposition are just as equally important, but the art of closing a deal is truly the quintessential sales skill.


When selling on the phone, there should always be a concise goal that every rep understands how to attain. Many times, managers are to vague in their direction and without clear performance metrics. Beyond total sales, what other performance metrics are being tracked? Number of phone calls, presentations, appointments? These all help define your closing & sales strategy.

Knowing the first 4 steps of the standard 5-step selling process: (1)Sell myself, (2)sell my company, (3)sell my product, (4)sell my price, is essential to the closing step. Building a clear value proposition (what's in it for the customer) that is easily understood by your prospective client will ensure more of your prospects are converted into sales instead of lost opportunities.  


Understanding, practicing and clearly articulating these steps make closing a little less daunting and more natural. Once you have the first 4 steps down, now it's time to seal the deal. 


Multiple Types of "Closes"
There are different closes for different scenarios, situations, products, etc. So understanding where you stand with the client will help you determine the type of close to use. For example, if a customer asked if a product came with a certain feature, using the porcupine close is a great way to close the deal: "If the product came with this feature, would you be ready to take delivery tomorrow?"


Guiding the Prospect with Trial Closes
Closing is not a separate event in the presentation, but integrated throughout the process. Every "yes" obtained is a minor close that helps build value and leads to the ultimate "Yes" when asked for the order. Explain a benefit and feature, then ask, "do you see how this will benefit you (your company)?" In sales, "selling 'aint telling", meaning if you're doing most of the talking, you're not really building value. Ask questions, listen, then ask more questions designed to elicit a yes answer.


Close Ended Questions
It's not enough to just ask questions, the questions should be designed to produce 1, 2 or even 3 possible answers that you want to hear. If setting an appointment, asking "would today or tomorrow be better for you?" would be an appropriate closed-ended question. Open ended questions like "when can you come in", "what do you think?" allow the customer control the call and sales process, making it much more difficult to get YOUR desired result. Example of closed ended questions: Today or tomorrow? Black or White? Yes or No?


In Summary
Having a planned closing process as part of the total presentation will help you convert more of your deals into wins and generate more bottom line revenues. 

Remember, closing means:
  • No vagueness or talking too much
  • Speak with confidence and energy
  • Asking close ended questions that elicit a yes
  • Clearly articulate your value proposition, rates, terms and conditions
  • Know your objections and rebuttals
  • Ask for the order
  • Finalize the details:  delivery date, time, etc. 

Happy selling!