When playing chess, the endgame is a distinct phase of the game that requires different planning and execution than early parts of the game. Similarly, closing out a sales opportunity requires different tactics than generating leads or managing opportunities. What exactly is the most direct path towards closing the deal? Of course, there is not a single "right" way to close.
This presentation provides some ideas on different closing techniques that can be leveraged depending on the characteristics of the customer and the deal.
2. Bill Moorehouse, April, 2015
3 Ways to Close
When working with people new to sales, I have found that the end of
the sales cycle is a time where training is important.
What exactly should people do to “close” an opportunity?
Of course, there is no “right” way to close.
This presentation highlights a few techniques that I have used
personally and that I collected by talking to other sales people.
3. Bill Moorehouse, April, 2015
1. Trial Close
Identify the objections/points of negotiation (X and Y)
Pose the question – If X and Y requirements were met, would the
customer agree to the deal?
Example:
You are asking the customer to temporarily suspend the objections
by controlling for those variables.
This is an effective way to look into the future and also to flush out
hidden objections.
“So, if I am understanding you correctly, you have
been clear that you like our product better than the
competitor’s product, but we are 10% more expensive.
My question is - if I can match the competitor’s
pricing, would you move forward with us?”
4. Bill Moorehouse, April, 2015
1. Trial Close (continued)
Responses to the question could include:
Yes – in which case try to keep momentum going.
No – there may be more objections that you did not yet uncover.
Unclear/customer waffling. This may mean that there is a hidden agenda.
Advanced application of technique
Once you are comfortable with this technique, you can add a personal element to
strengthen the customer’s commitment:
“OK Susan – I think I can get this approved if this will
get us across the finish line. But if I go to my
executives for this discount and you don’t move
forward with us, I am going to be in hot water.”
5. Bill Moorehouse, April, 2015
2. Assumed Close
Approach the discussion as if the close is an established fact.
Example:
“Hi, I just wanted to touch base quickly to follow up
on next steps from our last meeting. The change to
contract language your Legal wanted has been drafted
and I am just waiting for approval on that change. I
expect that I will have the revised document to you
tomorrow.
You mentioned before that you need to review and
approve, then your boss will be the one actually
signing it.
You can scan the signed contract and email it back.
Please send the whole thing, not just the signature
page, OK?”
6. Bill Moorehouse, April, 2015
2. Assumed Close (continued)
This technique is more assertive than the Trial Close
This is an appropriate move when you feel that the deal is likely to
close
The advantage of the Assumed Close in this situation is that you are
not opening up for further questions or concerns
You are using the momentum to “drive to the hoop” (sports
metaphor alert)
7. Bill Moorehouse, April, 2015
3. Remove All Objections
This technique is a closing question, just phrased in the negative –
is there anything that would prevent the customer from selecting
us?
Example:
“OK, so to review, we were able to get the activation
fee waived for you and we confirmed that the product
is compatible with your existing platform.
Your colleague Karen had a question about the
pricing metric, but we resolved that yesterday.
Can you think of anything else that would prevent you
from moving forward with us?”
8. Bill Moorehouse, April, 2015
3. Remove All Objections (continued)
This technique would be suitable when there is a complex deal
cycle that includes many requirements.
You may ask some variation of this question numerous times as
you chase down a shrinking list of objections.
If the customer does not have further objections, you can cement
the close:
“Great. We are excited about working with you! I can
get you the contracts by tomorrow. How long will it
take you to get them signed and returned?”
9. Bill Moorehouse, April, 2015
Summary
Trial Close – control for variables and ask for the business.
Assumed Close – proceed as if the deal is happening.
Remove All Objections – a closing question, phrased in the
negative.
10. Bill Moorehouse, April, 2015
Summary
I hope you find this information useful in your sales pursuits.
Bill Moorehouse, April 2015