Closing is the final step in the sales cycle.
This step will define whether the hard work that you have done in your previous steps amounts to anything or not.
It is like the break or make a moment in sales so you must approach this step with utmost care.
Now, it can be nerve-wracking to close a deal for a sales rep.
That’s why we have handpicked 12 best sales closing techniques to help the sales reps win more deals.
With our list, you can find a variety of techniques that will help you to close sales effectively and efficiently.
12 Sales Closing Techniques
1. Now or Never Close
Also known as Urgency Close, this sales close technique creates an urgency to prompt a customer into a buying decision.
In this, sales reps provide an offer or discount to the customer for a limited period.
a. A discount of 15% purchase today.
b. Three months free on the annual subscription for this week.
This technique works when the prospect is on the verge of buying your product, i.e, they are interested but still holding themselves back from making a deal.
But remember to create value for your product before offering a discount because when a prospect values your product, he will grab the offer immediately.
2. Assumptive Close
This technique works on the principle of positive thinking. It means that you should believe from the start that you will close this deal.
As per Forbes, optimistic sales reps outperforms pessimistic sales reps by 57%.
Also, when the prospect checks on most of the boxes during a sales process, it is assumed by the sales reps that this is a done deal.
It works because sales reps do not give much time to think about the offer to the prospects as it can raise issues and objections which can lead to an unsuccessful deal.
Sales reps must ask those questions that show it is a done deal.
a. When should we implement the solution?
b. On what date, would you like the delivery?
c. Which package are you going to buy?
3. Summary Close
The Summary Close technique is based on the concept of getting all good things together.
In this, the sales reps summarize important facts, features, and benefits of the product which were already discussed before.
It is done so that prospects can recall all the benefits that they will receive out of this deal.
Also, you must remember that this technique is effective when discussions are stretched over a long period.
4. Takeaway Close
What would happen when you take away a toy or a candy from a child?
The child will shout or cry because he now wants that thing more than ever.
This same psychological thing is used in this technique and is implemented on prospects.
If a prospect is resisting the offer you are making because of price, then you must provide him with a discounted price but at the cost of fewer features.
When you do this, the prospect thinks more about the features you are taking away then the discount you are offering.
Another thing you can do is to withdraw from the deal to push them towards the deal. This is effective when the prospect is just wasting time without showing any real progress.
When a prospect sees that you are letting him go, it shows your confidence which will make the prospect rethink how good your product is.
5. Sharp Angle Close
At times, prospects might become greedy and ask for a discount or added benefits because they know that they are at an advantage and also that you are expecting this.
In this technique, you surprise the prospect by agreeing to the demands made by him but in return, you asked him to close the deal then and there only.
But you agree to the demand only when your manager has given you the authority to do so.
6. Question Close
In the Question Close technique, the sales reps ask questions to provide the best solution to the prospect and eliminate any kind of objection that the prospect has.
a. In your opinion, is our product able to address the problem you are facing?
b. Is there any reason for not moving ahead with the shipment?
This helps reps to know the objections that otherwise might not have come out. It is an effective sales close technique used by salespeople to close sales.
7. Need Close
A prospect will choose that product which can satisfy his needs.
So you need to make sure that you should listen to the needs of the propect and your product is able to deliver on that needs.
As per HubSpot, 69% of the buyers want sales reps to listen to their needs.
To start with, you need to have a list of all the things that the prospect is looking for in a product. You should have this list before your call.
After that, you should check the list against your product and put a tick off the ones that are 100% match. The more ticks you see, the chances of closing the deal successfully increases.
Now, you inform him about the benefits and features that exactly match the list of the prospect.
This technique works best when the prospect is not sure of the value that your product offers.
By telling him about the features, you are showing him the value of your product.
8. Hard Close
Another name for the ‘Hard Close’ technique is the ‘Nothing To Lose Close’ technique.
In this, you let the prospect understand that the reason for this conversation is selling.
You have to be tough with the prospect and ask for firm commitments when to sign contracts, when to implement and whatever else needed to be done to close the deal.
This technique is effective when the prospect is keeping you in dark and you need some clarity. Also, it works as a last resort, i.e, use it when you have nothing to lose.
But remember do not use it too early in the sales cycle.
9. Benjamin Franklin Close
This technique is based on the concept that Benjamin Franklin used to follow to make a decision. He wrote down the pros and cons of a decision and based on that list he makes the decision.
Similarly, you must make a list of the pros and cons of your product and help clients to make a decision.
If you want to close the deal, the pros should be more than the cons.
This technique is for those prospects that are not able to decide whether to buy your product or not.
By providing them with the list, you are helping them to make the decision faster and in your favor.
10. Puppy Dog Close
It is based on the concept that if the prospect recognizes the value of the product, he will not leave it.
You can see the same when someone goes to buy a puppy at a pet store. If you let the customer play with the puppy, he will buy the puppy.
So following the same principle, you must let the prospect try out the product and if he finds the product valuable then you know what it means.
It is a highly effective method because you are not pushing an individual to buy your product. You are simply waiting for him to give you the order.
11. Option Close
In this, you believe that prospects are interested in your product and to make it easy for them you provide prospects with two different options for your product.
The logic behind this technique is that whatever option the prospect chooses, it will only take you one step closer to the deal.
You could provide them with two different pricing options, tiered levels of service with different features, implementation earlier vs later, etc.
When you provide them with two options, you are simply making the decision-making process easy for them by letting them choose what they want to buy.
Also, it is closely related to Assumptive Close.
12. Backwards Close
Most of the sales reps followed the predetermined steps mentioned in the sales cycle to close the deal.
But what if you have to start at the end, i.e, asking for referrals?
This method has come to be known as Backwards close where the end is the beginning.
It is known to work for certain types of leads.
It is believed that this technique is quite useful because customers feel at ease as they realize that you are not trying to sell them anything.
As per HBR, 84% of buyers start their buying process from a referral.
After that, you can start talking about the features and benefits of your product and close the deal.
The above-mentioned sales techniques will help you imporve your closing rate but you must remember that a single technique won’t help you close all the deals.
You need to use different closing sales techniques for different people based on their needs, budget, opportunities and so on.
Closing a deal is an art and to master that you need time.
You need to be patient because a technique will only work if you are efficient.
The more efficient you are, the better the technique will work.