Closing the Sale: 5 Things You’re Doing Wrong
Key Takeaways
Don’t try to close to close in one call, let the deal mature
When the circumstances are right, don’t be afraid to ask for the business
Be careful that you haven’t selected the wrong person to make the decision
Take the high ground talking about the competition
If a customer says “Yes”, take the deal without trying to add more add-ons/features
Closing is the most nerve-racking part of a sales conversation, but the most important nonetheless. After all, you have to “ask for the business” at some point, or you won’t be selling anything.
You probably don’t know anybody who became a sales superstar overnight. Most of us learn the tricks to closing a sale through a good number of mistakes and failures. But wouldn’t it be wiser to learn from other people’s mistakes so you can save yourself the time and frustration of losing deals? Take a look at these five commonly made closing mistakes:
You stick with the ABC rule
As we have quotas to meet, we as salespeople are inclined to follow the ABC rule (Always Be Closing). Personally, this is effective in high velocity, transaction B2C sales - where one key moment may result in a “one-call close” type of situation
In most cases, asking for the sale too early in the discussion makes one appear too aggressive, resulting in a prospect being less likely to buy.
Instead you want to focus all of your energy on allowing the person to realize their need to buy – as the sooner they do this, the sooner they will ASK you how they can obtain your product to solve their problems.
You’re waiting too long to close
Waiting too long to close a sale is just as bad as being pushy. As any experienced salesperson would know, there’s a point in a sales conversation when asking for the business becomes a natural next step. Wait too long & there’s a possibility that the client will find another solution that meets their needs with an equally competitive offering. Thus it is important when you recognize that the sales cycle is concluding & have the conviction to invite the customer to proceed
You’re courting the wrong person
Sometimes we make the mistake of attempt to close the deal with the wrong person. For instance, we often chase individuals with financial titles believing they have access to the purchasing. However, when the purchase is strategic & involves high order concepts like business process optimization, increasing revenue or reducing expenses, the decision-maker is usually the operational manager.
It pays to do a bit of research before you set up a meeting with the company, so you don’t waste time and energy if the entire organization isn’t a fit. Once you’ve identified the decision-maker, invest time in creating a real relationship with them. By nature, people tend towards doing business with people they like and have a personal connection with.
Another mistake is when sales people disrespect or go around someone immediately when they realize that the person they are talking too isn’t the decision maker. If you make someone feel inferior they may go out of their way to roadblock the deal or reduce your credibility. Instead make sure you build enough respect so that they go out of their way to HELP not hinder you, make them like you enough to argue with their superiors to get the deal done!
You’re talking poorly about the competition
Speaking negatively of your competitors in order to make you look better is a quick way to discourage a prospective client.
Firstly, nobody wants to deal with negative people. Secondly, resorting to this tactic makes you seem insecure and desperate. Your client will likely wonder how low you will go just to secure the deal. The problem is that you are not actually selling them a solution; you are simply discouraging them from buying from other companies. Not to mention, business slander has some serious consequences. So if your competitors get wind of what you have saying about their business, you could find yourself in trouble.
That said, always take the moral high ground and focus on showing why your solution could benefit their business more and share with them the stories of your success.
A tactic you can try is to build value by highlighting where your competitors have made mistakes in a constructive way and show that your business has gone about building fixes to these issues within your solution. Follow this example:
“Company Y, have done ___ but what they are trying to do is probably address the underlying problem of ____ , which I agree is a large issue affecting the market. I admire their courage here but if you don’t get it right, the consequences result in feelings like the ones you have experienced, so I am sorry this occurred.”
This line or a similar statement, makes you seem empathetic and also politely offers a criticism by suggesting an improvement. This is always received better than blatant “slander” of a competitor and also relating to their situation will always earn you fans!
You keep selling even after the close
You’ve already received a ‘yes’.
Then why continue pushing the customer to purchase additional products or
Talking about additional features will only raise new objections and cause the client think twice about their decision. If they have placed the order, shut up and take it!
As an alternative, focus more on happiness and satisfaction post-sale to increase your retention rate and increase your chances of a cross-sell or up-sell in the future at a later date. Also if you focus more on relationship building and product satisfaction post-sale, your chances of receiving a referral will rise!
