Close planning is simply figuring out the who?, what?, when?, and how? of winning a sale and obtaining a signed contract and purchase order. Believe it or not, I’ve seen time and again how people forget to attend to the details by asking their customers how it works in their company. This may sound like a minor point, but if close planning is not done effectively, it can kill your quarter. Every sales professional needs to understand how long it is going to take to complete a contract process and who is involved with contract completion and fulfillment within the customer’s organization.
I actually think that closing is the easiest part of the sale, but why? It’s simple, really. If you have executed an effective sales strategy and have done all the necessary upfront work of winning/selling, then you should have no problems wrapping up the sale. Closing is just the natural end result of all the work you’ve already done. I don’t intend to compete with Tom Hopkins, the great sales trainer, or any of the other training pros on the subject of closing. They will tell you about the different types of closes to use, such as the alternative close: “Would you like red or blue?” “Delivery in three weeks or four?” Sure, there are a lot of methods for closing, and if you are leading an enterprise sales organization, every member of your team should have read or listened to one of the great trainers on closing.
When it comes to closing, the important aspects to keep in mind are:
• Listen for verbal clues that the prospect is ready to move forward with a transaction—what we call “buying signals”.
• When you hear buying signals, offer a trial close. A trial close is a test question to determine if the prospect is ready. For instance, “How soon would you like to schedule installation?” “What color do you prefer?”
• It is said to ABC (always be closing), however, in my opinion if you try to close too early you lose credibility with the prospect and they move away. Be patient and let them move toward you. If you make yourself available and they really are interested, you can tell and you can trial close.
• Use a closing technique that best fits your personal style. Don’t try to imitate someone else, or you’ll likely come off as unnatural and awkward. For instance, if you are more consultative by nature, then use a consultative closing technique. “Based on the information you have shared with me about your project to date, the optimal solution I recommend is xyz. Do you agree, and if so, when would you like to get started?”
• Know your close plan. Know who is going to do what to whom to result in your receipt of a valid order. In large companies, this is a signed contract and a purchase order.
• Always try to get a firm payment obligation. For instance, don’t close blanket orders that contain no upfront transaction/payment obligation.
• When you ask for the order, don’t say another word until you get an answer.
• Once you gain agreement and close, wrap up and leave as quickly as possible.
• And Remember as Tom Hopkins taught us, never go out to lunch or dinner immediately following a close. Schedule your thank you lunch a few weeks later. Too many closed deals have come undone at early celebrations.
The above tips will help you improve your close rate and the most important is create a Close Plan and remove in advance any blind spots that may get in your way of achieving success.
Good luck closing out your sales opportunities this December. If you would like to read more on this topic please consider picking up Dave Govan’s book on improving enterprise sales. Available now on Amazon.com or at any book store near you.
