How To Close A Sales Deal in 5 Minutes?
Posted by Atul Sharma on February 8th, 2017
Closing the deal can be the most difficult part of making a deal with another party. Hatching the idea, approaching a potential client with the idea (or your product) and the conceptual embrace by the would-be clients are certainly easier tasks.
Sealing a deal (or your inability in doing it) might well cause you to lose those precious 10 minutes of your sleep.
Yet, you can always be a better “closer” even if you’re not as smooth as Michael Jackson’s famed Moonwalk.
Throw the reasons to say “NO” out of the window
There are various reasons why your client might not be interested in closing the deal with you. However, all of them can be narrowed down to a few categories that you need to focus on.
Get beyond “YES”
“There is many a slip between the cup and the lip”
Yes, the quote does stand true in this case. Once you’ve somehow got your potential client to agree in principle, you need to get the “YES” in writing as soon as possible. This is because hugely common sales problems such as the lure of competition and/or a better deal or any other unseen events can always creep in and cause the client to have second thoughts which can simply erode the chances of the deal getting closed. The point is, once you do get the agreement in writing there is virtually no chance that the deal can be cancelled.
Create the urgency
The client might be happy to close the deal but in “some time”. You, on the other hand might not have that luxury called time. Here, you do need to enhance the value of your product. Telling the client what they might achieve or what they might lose by delaying the deal is one way to enhance the value of your product. Sometimes, this approach might not work and you will have to use the threat of competition. Telling the client that if they don’t do the deal with you, then you’ll do the deal with someone else might make them rethink their stance. For e.g. if your client is going to file his file ITR online, then you know and the client knows, that a deal can be done. Obviously this sometimes involves bluffing but if it can get you to close the deal quickly then it’s probably worth it.
Build the trust
As a kid, everybody is taught to never trust strangers. This is a lesson which we carry with us for our entire lifetime.
The client will close the deal only if they completely trust you. After all nobody will ever risk their hard earned money in a project with somebody that they feel is a stranger. Hence, the client will generally have a resistance to your product, just because they don’t trust you. The only way by which you can reduce this resistance is by building a rapport. And to build a rapport you need to play to your client’s interests. Find the mutual interests and see what fascinates them and try to somehow link your product to these things.
Building a rapport and then playing to your client’s needs while eliminating his reasons to say “No” is the sure-fire way to close the deal. Try to create a “win-win” scenario. And if you still can’t get it done, then there’s always the opportunity to entice your customers by throwing in some concession to refocus their attention. After all, who doesn’t like cheap deals?
This article has been contributed by Himanshu Jain CEO at LegalRaasta, an online portal for GST Registration in India
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About the AuthorAtul Sharma
Joined: February 8th, 2017
Articles Posted: 2
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