Closing the deal is one of the most fundamental parts of marketing. If you lack this ability, you will barely ever make a dime out of marketing. Thanks to the risen popularity of my website over the past few months, I have had the pleasure of conversing with a lot of online marketers and let me tell you this – most of them are not well educated in the art of closing the deal.
So, in order to help people who want to learn how to effectively and efficiently close the deal, I decided to ask nine marketing experts that are successful at doing just that. Here’s what they had to say about the art of closing the deal.
Closing The Deal Tip #1: Show Your Customer How You Can Solve Their Biggest Problem
Show your target customer how your product/service solves their biggest problem. Explain in words that they can understand that specifically address the key metrics that are important to them.
Framing your solution in terms of solving a pain is almost always better than showing how your products/solution brings them a benefit.
If your message isn’t resonating with your target clients, you are either (a) not saying it right and should change your messaging, or (b) you are going after the wrong target customers and should focus on another customer segment.
Your approach should always be unique to the customer you are targeting.
Closing The Deal Tip #2: Relationships + Value
Noel Wax, President of GroundSwell Group, said that closing the deal consists of two simple parts – the relationship you build with your client and the value you bring to the table:
Selling is a process. Yes, over the years I’ve used all the tricks of the trade from asking a client to resend the contract because my email was down to sending cheesy gifts or tickets to a ballgame or concert.
Sure those work from time to time but the two absolute keys to closing deals are: 1) having a strong relationship with your client, and 2) bringing real value to solving a key need or needs.
Both of these are done over time and in an authentic way. Now, after 25 years in business if I really believe that what I am offering to a client will truly help them solve a problem or provide a solution to a need, then I don’t ask for the business.
There is not a trick in the book that will work any better than this.
Closing The Deal Tip #3: The Two-Punch Combo
My best tip for closing the deal is a two-punch combo – addressing the problem and subtle assumptions. The line goes something like “If we’re able to increase your traffic twice or even thrice of what you’re getting now (addressing the problem), would you sign the contract?”
Followed by “So… when do you like to start the campaigns?” (subtle assumption). Don’t forget your “If we/would you” lines, contract/proposal, and pen ready.
Closing The Deal Tip #4: WIFT – What’s In It For Them
If there’s not a compelling value add, no close. It’s not enough to have a great product or service. If it does not add value, it’s doomed. What’s the concept of value? The Pet Rock had value to people who needed a stupid gift.
The iPhone is people who want to be a part of a community. The corporation wants to increase efficiency and profits. Do you do that? Yes? Then close it. Don’t waste time. Clear WIFT will close the deal.
Closing The Deal Tip #5: Ask & Then Take Action
Jim Herst, CEO of Perceptive Selling Initiative, said that every single product/service is unique, however, there is a general two-step close approach that is mostly used:
When providing “sales techniques” to businesses, typically I fashion a “close” uniquely adapted for my client’s product/service. The principle most often used is a two-step close. First, ask for a commitment, one that extracts a realization of an obtainable benefit.
Next, take action – do or say something that indicates buyer acceptance. Using two steps as a guide, creating the right words as an action has served well in constructing effective “closes” for hundreds of served businesses.
Next, if the action step generates a balk, the seller must have words used to return to the presentation, adding more reasons for prospect consideration and discussion. Then repeat the process.
Consideration too must be applied to “place” of closing. The above assumes face-to-face, or possibly on the phone. If only a direct mail piece or an email offer is applicable, the principle described can be utilized, with variation.
The above is a stated basic principle. Creating the best way to close a sale is only effective after a review of a seller’s needs, product/service, market, and sales force quality.
Remember too, the “prospecting process” precedes the presentation. Providing both for use by a salesperson servers to strengthen performance while removing fear of rejection. It is a two-part process – the first is designed so the prospect “wants” to listen to the second.
Closing The Deal Tip #6: Always Offer a Guarantee
John Paul Engel from Knowledge Capital Consulting, said that you need to find a way to reverse the risk of working with you:
I do this typically by providing something of value up front. Then I chunk the work in small bite size pieces. This way there is never more than a few thousand at risk by either party at a time. Using this method I’ve sold over $61,000 in professional services in a month. Always offer a guarantee.
Closing The Deal Tip #7: Give Zero Cares
Janice Omadeke, Founder of The Mentor Method, said that giving zero cares (or another stronger word), is the way to go when closing the deal:
My method is going in giving 0 cares. This means remembering that the worst they can say is no and that if they do, they’re not the only option for my company. Entering situations with confidence in my service, myself and being 100% myself has helped me reach a greater audience and make better deals with the right people.
In terms of a client losing interest, I ask them about it. Nothing rude, just saying something I feel like I’m losing your interest. What can I do to get you back in the game? So they know I’m interested in them and it provides me a small market research opportunity.
Closing The Deal Tip #8: The Right Prospects & Bringing It
- Go after the right prospects. Don’t waste your time cold-calling and throwing out proposals to look productive for your boss. Spend time finding and focusing on prospects that fit your niche and mesh with your product/market fit.
- Bring the village. Isolated salesmen are much less successful when compared to those salesmen that bring the production and management team to the table during the selling process. Salesmen and management must be confident enough to work together to prove value in selling situations.
Closing The Deal Tip #9: Be Likeable
No one wants to buy a product from someone they don’t like. People want to buy from a friend. To that end, I take an authentic interest in each of my clients, whether they’re potential or return customers.
I learn all about them and their business, and I share my own story with them. That establishes a personal connection, which makes the customer feel confident in purchasing from me.
Wrapping It Up
So there you have it. If you previously had no idea how to close the deal or were just not very good at it, now you know what you need to focus on. The skills and techniques listed here are extremely natural for some and not so much for others, but everyone needs to practice them in order to master the art of closing the deal. Happy marketing!