Closing a deal for small startups is a relatively a huge writer's block. Large companies have the leverage and they can use means to get ahead at the negotiating table, but small startups don't. To consistently close a deal you have to approach the buyer intelligently. If you want to become a better salesperson, try honing your sales skills by remembering this – when a potential customer says "no," look at their refusal as an opportunity to target your next customers better.
Regardless of what product or service you are offering, every salesperson on a receiving end has faced the dreaded "thanks, but no thanks". Every prospective customers will turn you down and rebuff your advances. But, why should we take a refusal, and keep worrying about it? Don't let negative responses deter you as you attempt to close more sales. Here's few ways you can close more...
Staying at your place
There is a saying that goes if you need an answer right now, the answer is no. Stress the importance of patience, no matter what are your industry is. Sales is obviously a game of tug of war. Fortunately when the other party has a leverage they can force you into saying yes despite not be completely sure about it. That's how they get a good deal done and when you are left settling for what they have given you.
The fact that really both parties will have a win-win situation but that's not always the case. To make sure someone is taking careful and detailed notes about every other is priority one. Don't skip the talking points when you get things over with your team.
Is all easy to pass on to the fine print because you are tired and too easy to pass to get things done, and that's how you get trapped in contracts which can kill your company. Remember that you are not without power and that they are talking you with means that you have got something they want. Most negotiations are only based on a few points that the buyer or the seller have to forgo.
Face the facts
You have just spent half an hour talking to a prospective customer, and it's time to close a deal and win a sale. This is probably the most casual stage of selling presentation. After all, if a prospective customer does not sign on dotted line, you have spent your time wise.
Salespeople do not have to be ruthless to win a sale. In fact, customers are more likely to ignore a pushy sales man, in favour of one who listens to their needs. A salesperson does not only want to close a deal, but to get commission for sales.
Those who excel in art of sales know that a winning closing sales strategy is one that results in repeat business and chance of further referrals. Salespeople who focus on building relationships that lead to future business opportunities, as well as closing a deal on this one excel better.
Often, a combination of closing techniques works the best.
You may even need to change your technique, depending on flow of the conversation with customer. Every individual customer is different and will have different reasons for purchasing your product or service. Exceptional salespeople will use lead up conversation to discover clues as to why customer wants your product/service. Then, when it comes to closing the sale, these reasons are used to reinforce the customer's decision to buy.
Generally, customers will give verbal and non-verbal clues about which of the many benefits of product or service is most important. Remember, each customer will have different perceptions about your product/service. Paying close attention to what customer is saying will help you to discover the closing clues that will help you to close a deal.
Questions are common verbal closing cities If a customer asks specific questions, especially those focused on credit plans or payments, delivery dates, or warranties, it is a clue that they are ready to commit to a sale. Now is a good time to trial a close.
Recognition statements will also show a customer is ready for the sale to close. These are any positive statements that revert back to the relevant factor you have previously mentioned in your sales spiel. Examples of recognition statements include: "I like the quality control system on this product." "You are first person who can solve our problem." "I've always wanted to own a car like this."
The final type of verbal clue from your customer is a condition that must be met before a customer will purchase your product or service. This is called a requirement clue. If you are able to meet that requirement. it is a good time to try to close the sale. Customer requirements can vary, but could be focused on delivery time, monthly repayments, or even colour availability.
Non-verbal closing clues are subtle and you need to focus your attention on a customer to pick up on the hints a customer is ready to close the deal. Focus on body movement, facial expression and tone of voice. If facial expression changes eyes widen and customer shows genuine interest in what you are saying, this could be a point to reinforce when you close a deal.
How likely it is that your customer will purchase the product after a sales presentation? It is an easy method to use and test the customer's attitude towards your actual purchase.
Often a close will be presented in the form of a probing question, such as: Which car do you prefer, the black or the brown? Will your down payment be possible today? Did you want to include installation costs in your pricing, or would you want to install by yourself?
Successful sales people may use a trial close several times during sales presentation. After a salesperson introduces customer to a feature of your product/service, getting customer to agree on benefits is important and can be done with a trial close question.
Another technique we can try using to close a deal is assumption close. Simply, a salesperson makes an assumption your customer is going to buy. Towards the end of your planned sales pitch, if you have identified the customer's need for a product, presented an effective demonstration and negotiated buyer resistance satisfactorily, you can safely assume the customer is ready to purchase.
In the assumption close, you assume a prospective customer has purchased the product, and ask one or more questions regarding minor points, along the lines of "Will next Friday be suitable for delivery, or did you need it sooner?"
You can even start writing tip the order and then ask a customer for a signature at the bottom, or clarify specific details such as the colour scheme being ordered. Some customers may feel pressured by this type of close, so you must do this with a positive mental attitude and feel confident that the customer is actually ready to buy.
Do your research
It is hard to get into your conversation when you don't know what you are talking about. You can block your way through it and you might even get away with it. However in a startup space is it a good way to lose a ground and row in deals? It might even damage the future deals in industry.
Do you research study the company. Inside and out. Study the people present at the meeting from there work history and the journey to the company. Find out how easily they speak with by looking at these they have done and participated in. Every detail like a how long the negotiations usually take will inform you how you can approach at the table.
Match their presence
One of the most important things you can do during a negotiation is to find out who is attending the meeting. This is critical for two reasons. First knowing the positions of the attendance informs you, who you are making a deal with. Getting associates with little experience probably means they are not invested.
If you have a hang having the chief financial officer in attendance, is something which means the deal is about money. Sending a mismatch lineup can cause trouble down the line, and to discuss numbers in great depth than an average sales negotiation.
So you will want someone who can respond very accurately. The fact if someone who brings a lawyer, bring one of your own. Think this as a matching discussion, and don't get left behind confused during sales talks. Negotiations and deals are unavoidable part of running a small startup.
You will have to talk over things with some entities at some point whether it is a manufacturer hashing out the exact details, or a large company looking to acquire yours. What will be the case talking to you must be able to keep up and fight for whats right for your company.
Keep selling folks.