When And How To Close A Sale (My 66% Close Rate Close)
In this article you’re going to find out how you can actually get the sale, and how you can close the sale. When most people are at the part of the sales conversation when they have to ask for the money and get the contract signed, they say something like:
“Well, are you ready to proceed?”
“Hey, so what do you think?
Guess what, that’s going to cause you to lose a lot of sales. A client told me today that after a seventy minute sales call he said the following:
“Well, what do you think?” And the customer responded:
“Well, I think that that’s 2,000 Euros.”
After all that work he didn’t get the sale. Why didn’t he get the sale? Because it’s an ineffective way to close, and has a low probability of actually working. He could have still recovered, but he’s not very experienced and still has a lot to learn.
The Benefit of Closing
First of all, what does closing actually mean? Closing means that you’re helping a prospect reach a decision that is beneficial for him in the short term and the long term. If it’s not mutually beneficial, it’s actually a scam. That means you’re scamming someone, you’re not selling him something. If you want to scam someone, please don’t apply what I’m teaching here. This is only for people are who interested in building mutually beneficial relationships with potential clients.
So starting from the point of view that it’s mutually beneficial, who actually loses out if you fail to close a sale? It’s not just you who loses out, the client loses out as well. If the client doesn’t get what’s good for his business, if the client doesn’t get that thing that is going to make him money, then he suffers as well. His personal life can also be affected, as his family will lose out as well.
That’s why it’s your responsibility to lead the client to a decision that is beneficial for him. This is super important, and if you do not realize this you will fail to close a lot of sales. People are incapable of reaching decisions. 95% of people cannot decide that I’m going to get this, and I’m going to pay for this right now. It’s just not possible.
This includes me, and you, and everyone else. That’s the way people’s minds work. There’s always another day to think, and another day to procrastinate. That’s just the way it is in sales. You need to help people to reach that decision. If you do not ask for the sale, if you do not help them to reach the decision, then you’re not in sales. You are order taking, which is a very low paid job. Order taking is when you answer the phone, write down what the person wants, and send the information off to a different department.
This is not sales. It’s a low paid administrative job.
On the other hand, in sales you can earn any amount of money that you want. Some of the most famous billionaires that you know are actually extremely good at making deals and closing sales. Like Bill Gates, who is not only an IT nerd, but also a gifted salesman who is good at closing deals. Or Richard Branson, and lots of other famous billionaires. The key thing to understand is that everyone is in sales, and they understand sales. Donald Trump, of course, you’ve been seeing videos of him talking about closing deals. Well he’s in sales as well.
When to Go for the Close
Deciding when to go for the close is one of the most important thing in a sales call. Figuring out when to get the deal done, signed and paid for is crucial.
In a sales conversation there is a rhythm. It’s your rhythm and the prospects rhythm. It’s the way you talk, and the way you are leading or following the conversation. There is a rhythm of how the conversation is going. Once you notice that a prospect is following your rhythm, and you’re dictating the rhythm, that is when you go for the close.
Another indication is when the client keeps asking for more details. When this happens, you know that it’s time to go for the close. Also, if you’re closing in person and you notice that the client’s eyes are sparkling and he is super excited, nodding, and agreeing with you, these are all signs that it’s time to close the deal.
This is true even if you’re not ready yet. It’s true even if you haven’t completed your pitch. That doesn’t matter! Go for the close once the client is ready to go for the close.
How to Get the Sale
There are many methods and techniques to close a sale, and you need to know several different closes. I’m going to teach you one today. This is my favorite close and it’s one that I use all the time. This method is to assume the sale.
When you have decided that the client is going to buy, and the client has agreed to everything, then it’s time to close the sale. So you simply assume that he’s going to buy, and then you say:
“Here are the next steps. I’m going to send you this link that you need to fill out. Once you complete that, here is what you’re going to get.”
Then, you start listing benefits that the client is instantly going to get upon payment. You need to instantly give the client something, as soon as they complete the payment. Otherwise the client may pay, and then feel unsure about when he’s going to get the product. He’s going to wonder, when am I going to start getting stuff?
The key here is that it has to be instant. It doesn’t have to be everything, but just something so that the delivery process starts as soon as the client pays. A client needs to immediately have the feeling that, OK, this was worth it, and this was a good purchase.
That’s how I close sales and it works really well. I currently have a 66% close rate on the phone. Sometimes people aren’t qualified to buy, they just don’t have the money or permission. That’s OK, but 66% is what I get with this particular close.
I think that if you apply this strategy to your own sales calls, you’ll start getting noticeably better results. I could go into more detail but I want to keep this article short. However, we discuss topics like this all the time in our mastermind group. We go into a lot of detail, like a step by step explanation of how sales works.
So if you would like more free content about how to close sales, marketing and entrepreneurship, please subscribe to my YouTube channel. If you have any questions, please leave a comment below.