What is closing a sale?

It is basically getting a prospect customer to decide and agree on the product of whatever your company is selling. This is the last stage in sales process where all your hard work and persuasion pays off. To have clear idea, like in football game, you need reach to the end zone, and need to score that touchdown to win the game. That’s somehow Closing a sale means, it’s the moment where all your efforts come together and make the sale.

Whatever techniques you use, you have to make sure that the customer feels confident and excited about the product or thing that they are going to purchased. In successfully close a sale, making sale is not what you only gain, but you are also building a relationship with your customers and trust in your business.

The importance of closing sales and its benefits

There a few reasons why closing sales is important for a business. This comes hand in hand with knowing its benefits.

Closing sales means you are generating revenue for the company. The whole point of selling a product or service is to make money. Well, technically it is not just about money, this can again also establish trust and credibility for the company. When a customer decides to buy from a business, they are showing that they trust your business and believe in what you are selling. This can result in building a positive reputation for your company and attract even more customers in the long run.

If you provide excellent customers service, properly close a sale and make sure customers are happy with their purchase and overall experience, they are more likely to keep buying from you.  This can be rewarding for both company and team involved that knowing you have helped boost your company’s revenue and a customer find a product or service that fit them and what they were looking for. You have then played a great part in growing in the company. This becomes a good reason to be motivated and push forward to striving for more sales.

Who is in charge of closing sales?

This responsibility falls on the sales team, salespeople or sales representatives. Whether they provide service over the phone, emails, chats or face to face. They are the people who are the first point of contact of customers and interact directly with them to also persuade them to buying products and services offered by the company. These people use a variety of techniques to try to close a sale such as building rapport with their customers, addressing any issues or concerns and creating a sense of urgency in the purchase like saying it’s a best seller and may not be restocked in the future. However, it is still up to customer to decide whether they want to buy or not.

Closing a sale does not only rely on the sales team but it also needs everyone in the company to play a role in creating an environment where it’s easy for customers to feel welcomed and make an informed decision.

Key closing techniques

1.  Assumptive close

This technique focuses on assuming that the customer is ready to buy or make a purchase. This a great closing technique for customers who are already interested on the product or service but just need extra push and encouragement.

2. Ben Franklin close

This technique focuses on listing out the pros and cons of making the purchase and helping the customer to see a certain benefits while considering their needs and lifestyle. This can be a good technique for customers who are need guidance and representatives can help them see the benefits of finally making the purchase.

3. Urgency close

This technique is focused on creating a sense of urgency around the product or service that is about to be purchased by a customer and encourage said customers to buy them immediately. This can be a good closing technique for those customers that are undecided to make the purchase and do not want to miss out on good opportunities.

4. Trial close

It’s a testing waters, to know how customers feel about making the purchase and a time to change your sales pitch based on how the customer feel. This technique is ft for those customers that needs more information about the product of thing that offered before making the purchase.

Being flexible and adaptable based on your customers’ needs and willing to seek out different types of techniques until you find what works best for your customers, taking time to understand what customers need and want, and used the appropriate closing technique for each situation, boosting the company’s bottom line is the key to successfully closing the sale. It’s about being patient. In the long run, the more sales the company makes, the more revenue they generate – and that’s a win-win for everyone involved.

More Resources on this topic:

• We all need sales techniques, but Hubspot here have the 7 Proven techniques that help us close more deals. This is in addition to the closes we have above. https://blog.hubspot.com/sales/sales-techniques-for-closing-deals
• Would you like to know “How to close a sale with 10 Sales closing Techniques” Provided by Salesforce there are some more hints and tips here. https://www.salesforce.com/products/sales-cloud/resources/how-to-close-a-sale/
• If you need “10 Effective Sales closing techniques” this post from Freshsales in 2022 provides more information and examples including examples. https://www.freshworks.com/freshsales-crm/sales-techniques/effective-sales-closing-techniques/
• If you have been in sales you have probably heard of Brian Tracy. The book “The art of closing the sale” is a classic where it helps you overcome objections and help build rapport and trust with your customer quicker. https://www.briantracy.com/sales-training/closing-the-sale/