The sales world is a tough one, and it is only getting tougher. Did you know just 3% of buyers trust sales reps? This puts the sales industry in the same category as politicians, journalists, and used-car sellers.
What does this mean?
Salespeople need to evolve. The tried-and-tested strategies are no longer enough to close that sale. Businessman Dan Lok, known as the King of Closing, is one of the highest-paid strategic sales consultants in the business, and one of the few who actually holds a portfolio of profitable businesses.
In this article, he shares his top closing techniques for newbies.
Stop Starting with “Now or Never” Closing
“Now or never” is one of the biggest mistakes companies make. They advertise that you can get 20% off right now, but the deal expires in the next few days.
Now or never closing is perfect for convincing unsure buyers to make a move. However, new prospects won’t react to this technique because why would they? There’s no sense of urgency because they’re nowhere near the point of making a purchase.
Reserve this type of selling for when the buyer is already thinking about buying.
Do not Give Up Too Early
This is less of a technique and more of a general approach to sales closing. Dan says it’s always worth continuing with a prospect for an extended period. Studies show that it takes 7-10 brand touches on average before a prospect will commit to a sale.
The biggest mistake Dan sees is sales teams giving up too early. Very few buyers will purchase after just one or two phone calls, particularly if it’s a big-ticket package.
Truly Believe in the Product and Show It
A salesperson who claims to be able to sell anything is a red flag. The average person already thinks that is sleazy. People are immune to fancy slogans and tricky sales techniques. The moment a sales rep approaches someone, that prospect is already on their guard. This is why only 24% of sales emails are never opened.
One of the best sales closing techniques is showing how genuine you are. The best way to do this is to believe in what you’re selling.
Besides, if you wouldn’t use that product yourself, how can you be believable when you sell it?
Question Prospects to Close the Sale
Dan explains one of the biggest errors newbies make is thinking too much about their pitch and wanting to pitch all of their information. What they should be doing is turning the pitch into a conversation with the prospect.
Do you know the prospect’s needs? How does your product meet their needs? Are you trying to sell a product they don’t even require?
These are questions to ask of the potential customer. Really hear what they’re saying to build up that relationship. Let the customer do most of the talking.
There are no silver bullets to sales, according to Dan. Instead, it’s all about relationships. The focus should be becoming a friend of the customer, rather than trying to loot their wallets.
Giving up too early, failing to listen, and not demonstrating a real passion for what you’re selling are the three biggest mistakes you need to address as a newbie.
How are you building those authentic relationships with your customers?