Sales closing is a term which is used in the process of sales. It is often used when making a Sale when the deal is done, which is why it is termed as sales closing.
Generally, when the sale is about to get close, that is why the term closing or sales closing is used which practically means the last step of the Sales which is signing the papers or getting the payment. For salespeople, the target customers are not strangers, but they are prospects who may go for or the product sometime if not now.
These prospects remain open until the deal is done or they buy some product from the salesperson. Once the deal is completed, these prospects are “closed” leading to the formation of term sales closing.
Generally, it is seen that the term closing is used when and there is a requirement of more persuasion and better tricks to get the order. For example, in automobile sales, the sales closer is often a senior person who is more experienced in closing the sales and acquiring the difficult deals.
For the inquiry of the common terms which are used in sales closing:
- Mr customer would you prefer automatic on the automatic driving system in your car?
- Mr customer would you like to go with standard flooring or would you like to upgrade it to a better granite flooring?
- Mr customer we have taken care of the upgrades that you requested now let us go to my office so that we can catch up and finish on the minor people work and get your product delivered to your place.
Most of the senior salesman avoid the term closed as a substitute for ‘The deal is over’ unless the Sale is confirmed from the customer.
There are different ways in which a confirmation of sales can be done for example in certain industries getting an order is the closing of the sale, while in case of others getting the payment after the order or before the order, is termed as the closing of the sale.
Firm rejection from the customer is never seen as the closing of the sale, but rather it is seen as the buyer has postponed his decision indefinitely. The salesperson nevertheless visits the buyer multiple times in order to confirm the sale.
Owing to the fear of rejection, most of the salespeople never ask for the business. That is why sales recruiters are in constant lookout for closers.
Following are a few of the common techniques of sales closing
1) Apology closing
This is the type of sales closing in which the salesperson apologizes for keeping the sales open and not closing it. The apology goes somewhat like this, “I am sorry, but I think I am must not have explained to you correctly because I think I left out important information which left your room for doubt. We both know that this product fits perfectly to your needs to hear the fault must be with me.”
2) Alternative choice closing
This is the method in which the salesperson presents the customer of the prospective customer with alternative choices choosing both of which would be in the closing of the sale.
For example, at McDonald’s, the employee would ask the customer do you prefer this in single cheese double cheese why is the standard would be with no cheese, thus closing the sale with cheese. Alternative choice music is also termed as a positive choice closing.
3) Balance sheet closing
This is also known as Ben Franklin closing. This is the method in which the salesman and along with the target customer list out the pros and cons of whether to buy or not a product all the while the salesman trying to ensure that the list of advantages is longer than the disadvantages.
4) Assumptive closing
This is the method in which the salesman intentionally assumes that his target customer has already said yes to buy bye and close the sale by saying, “just give me your credit card and I’ll do the necessary paperwork.” this is also known as presumptive closing.
5) Cradle to grave closing
This is the sales closing technique in which the salesperson cuts objections of the prospective customer that it would be too soon to purchase the product by telling him that there is never a right time to make a major purchase and they should do it right away.
6) Direct closing
This is the method in which the salesperson directly asks the customer to buy the product or make the purchase. Companies of discourage salespeople from using this technique unless the salesperson is pretty sure that the customer is ready to make the purchase.
7) Indirect closing method
This method is also known as the question closing method in which the salesman slow the approaches the sales closing with an indirect question. He would ask a soft question like “What do you think about these terms and conditions?” or “How do you feel about this agreement?”
8) Negative assumption closing
The salesperson in this method of closing, asks two final questions and repeat them until he has closed the same. “Do you have any more questions for doubts about this product?” “Can you think of any more reason that you wouldn’t buy this product?”
9) Minor point closing
This is the method in which the salesman knows the gains an agreement with the target customer on a small. And uses that small or minor. To ensure that the sales would be closed.
“would you want to the front door of the house to be painted Green No? Then we will leave the color as it is.
10) The possibility of loss closing
This is also termed as pressure closing in which the salesman points out that if he says this is not closed now, it could result in an opportunity which will be missed for example if the product may go out of stock or it gets a price revision happening a price rise.
Then the customer may have to purchase the same product at a higher price, and the salesperson would not be able to do anything.
11) Sales contest closing
The salesperson in this method offers the target customer a special incentive or bonus to close the details immediately. Questions like “How about if I give you a free sample of other product along with this sale? Because if I make this will happen, I will win a trip to Las Vegas.’
12) Puppy dog closing
This is the method in which the salesperson gives the product on a trial basis to the target customer before a Sales is agreed upon.
13) Sharp angle closing
The method in which the salesperson response to the question of the target customer with the request to close the sale. The question would be something like “can you deliver this car along with all the modifications are requested within two weeks?”
The salesperson would ask the follow-up question like, “If I guarantee this, then do we have a deal?”
Importance of Sales Closing
- The foremost importance of sales closing is that the deal is done, and the sale is closed. A Sale is completed only when the payment is realized by the company. This happens when and the customer agrees to buy the product, and that happens only when the salesperson closes the deal.
- Sales closing will ensure that all the processes are followed, and the sale is realized, and the money is earned by the company. If the sale is not closed the prospect with remain open and since the lead generation process has already been completed the customer with unsatisfied need with approach other company to satisfy his need and the Sale will take the place of the competition.
- It is because of the sales closing questions that even the customer realizes that he wants or does not want the product. The salesperson, sometimes, with his questions, pushes the customer who is not here to buy the product but simply to browse through it. Thus, effective sales closing questions can probe a customer and uncover his hidden needs and make the sale happen.
- Sales closing is seen as the final Cherry on top without which the days would be incomplete.
- From the organizational point of view, the closing of a sale would mean acquiring a customer, which would be important to track and for future references.
- For the salesperson, the target is given on closing the Sales deals, which is why it is important that he closes the deals.
- From the customer perspective sales, closing would mean that all of the commitments that are given from the salesperson are to be honoured.