13 Effective Sales Strategies to Help You Close Deals Faster
The pace of business is accelerating. Most clients expect their products to be delivered very quickly, but they usually find it hard to make quick decisions about the purchase.
There are many similar products on the market today which solve similar problems. The plethora of options to choose from, sometimes paralyze the mind of a prospective client and make it difficult for them to make quick decisions.
With many salespeople differing in skills and experiences trying to a sell similar product, the salesperson that will have the most success will be the person who knows how to persuade, influence and win the trust and confidence of prospective clients.
Despite the number of people in the same business, you can stand out by learning how to sell more at a faster rate than any other salesperson.
That comparison shopping is on the rise doesn’t mean you cannot close deals faster.
It only means that your old strategies may not work. If you don’t try out some new moves, you may be defeated in every sales battle and lose so much money and fame. Almost every salesperson has encountered some problems at one point or the other while trying to sell products or services to their prospects.
Prospects that prove to be very stubborn or unyielding make it difficult to close deals easily.
If you’ve always wished you could close more deals in a short time, there could be some effective sales strategies that will help you achieve your desire.
Many people work hard to be great salespeople but have problems with closing deals.
Here, however, we worked tirelessly to find and analyze the ways a salesperson can significantly shorten his sales cycle length.
After our research, we have found 13 levers that can make a big impact in the sales world.
The major aspect is about learning how to increase the rate of your sales by convincing the buyer that purchasing now is the right decision.
This, of course, means you must build confidence with the prospective client and be able to always provide the right information, at the right time, and to the right person.
But how can you achieve this?
1. MEET WITH THE DECISION MAKER
Many salespeople try to make sales to a company and spend a lot of time analyzing and convincing someone who is not in the position to decide for the company about a product.
After all the time spent (sometimes hours or even days) and a great job of convincing a lead, they then realize that the person they have spent so much time with is not the actual decision maker.
This, of course, leaves them discouraged, sapping all their energy and enthusiasm. T
hey realize that they have spent days focusing on the wrong guy and may not make any sales. This is a very common speed bump in the sales world and you have to try as much as possible to avoid it.
You have to go to the decision maker.
The decision maker depends on the size of the company. The decision maker in a small company is usually the CEO or CMO.
Hence, you should go to them to convince them and make them buy your product.
However, if you go to a larger company or organization, they have some specific people or departments that deal with sales.
Hence, you may not have to meet directly with the CEO (don’t spend days seeking an appointment to meet him).
The decision maker for a larger organization is the Sales Director, Head of Sales Operations, or Head of Demand Gen.
To avoid the error of meeting the wrong person, it is important to invest in tools that will allow your sales team to correctly double check if they are trying to make sales to the right person.
Nobody wants to waste their time selling to someone who is not in the position to make the decision to buy.
2. HAVE ADEQUATE KNOWLEDGE ABOUT YOUR PRODUCT OFFERINGS
The more knowledge you have about your product, the more confident you will be whenever you’re interacting with your prospect about your product offerings. If you have a thorough understanding of what you stand for, and the products you sell, you’ll be more enthusiastic when interacting with your prospect.
This will make the prospects understand the decisions they are making and hence you can close deals faster. It is compulsory that you are articulate with your product knowledge because that will go a long way in determining if you’re going to be successful in winning the trust of your prospect or not.
If you have a deep and vast knowledge about your product, your ability to communicate will be strengthened and your presentation of the product would be able more effective.
You should know everything about the product like the back of your hands, deliver a comprehensive and genuine sales pitch, and explain to the buyer in ways that will appeal to him. Know what you’re trying to sell! K
nowledge is power for salespeople.
Get knowledge, close sales faster.
3. UNDERSTAND YOUR CUSTOMER’S NEED
Don’t be so eager to show off the boundless knowledge you have about a product you’re offering that you forget to understand what your customer really needs.
You have to actively listen to your prospect, and understand their needs and the challenges they are facing. You have to understand how your product or service will help that individual or organization.
Knowing what specific problems it will solve and how it will help improve their lives or profit will help you go a long way. To whet the appetite of the buyer for the product, try to put some life into your sales pitch by avoiding mechanical or monotone explanations. Explain to the prospects in ways that appeal to them.
Should a prospect sense that you’re just explaining off a script, then you most probably won’t close that deal. It is important you specifically and correctly address the major pain point of your buyer and connect with them.
Try to understand the goals they have and the hurdles they have to overcome and build your conversation around this, focusing on how your products can meet their needs. It is very important to give a listening ear to your prospective clients.
Don’t think about another deal when in a conversation with a prospective client. Practice active listening.
4. PREPARE FOR QUESTIONS AND OBJECTIONS
Having a positive mental attitude is a crucial quality of successful salespeople.
However, it can also cloud your sales strategy and critical thinking. Not everybody will take your explanation hook-line-and-sinker.
You have to be prepared for objections to your ideas. Don’t let the buyer’s objection and questions take you by surprise. Don’t be too swept along by enthusiasm that you never really consider the possibility of being objected.
It is not in any way cool to get caught right in the middle of presenting a product with an objection you can’t surmount or a question you can’t give a definite answer to. If you have to ask to respond to the questions or objections later, or you give a stammering “not-so-sure” answer, you not only slow down your sales, but you’ve also jeopardized the possibility of making the sales to happen at all.
If you don’t want an awful news late in the game, you should employ the method of asking critical questions and challenging any assumptions so that you can forecast what could go wrong before it actually does.
It is a brilliant move to sit down with your entire sales team and have each of them come up with objections they think they might anticipate. Present your sales pitch to them and see if you or any member of your team may have missed any objection.
You can then log all those uncommon questions or objections you encountered in a central repository that is accessible to everyone involved in selling your product, and put the answer there.
The document should be kept up to date, and should also be stored in a way that will make it possible to easily and quickly reference it if need be. If you can learn from each interaction, the next one will always be better.
Prospects mostly don’t know much about your services and usually have many questions to ask.
The key to closing deals faster could be embedded in your ability to patiently and intelligently answer any questions put up by the prospect.
5. CREATE A SENSE OF URGENCY
Have you ever been in such a situation and was naturally compelled to get a product because of the deadline placed on the product at a discount? If you can apply that feeling to your own sales, you will discover that you have the key to accelerate the closing of deals.
If you want to close a deal very fast, create a sense of urgency around the product. Creating this urgency can be as simple as announcing a deadline, after which the current price will change. It is wise, however, not to create fake deadlines.
You could simply ask your prospect if they can decide on the purchasing the product by a certain date. If they make a decision on your product, you can make them stick to it by offering a really effective discount.
If you attach a deadline to the deal, you will help give the prospective client an incentive to make a commitment.
Whether it’s giving a free gift or a discount, make the client feel like they have the upper hand. Don’t try to rush the customer.
Only try to give them a little extra reason why they should buy your product or service.
Let them come to the conclusion in their heads that your product or service is the right choice, and the best time to make a decision on this choice is right now.
6. GIVE QUICK RESPONSE
People don’t like to wait for too long to get what they want. When a prospective client requests a quote, you must not make him wait for long. The process of creating a sales quote may be time-consuming, and a long wait and hold time may cause a drastic reduction in your sales potential.
Therefore, if you spend hours creating quotes, you may experience lost sales.
However, the process involved in creating a sales quote need not take long. If you desire to speed up your quoting process, a CPQ tool may be essential.
A CPQ tool has the ability to create complex quotes in minutes. They also come with ready-made sales quote templates. This will save time, help you avoid costly errors and make it possible for you to close bigger deals faster.
Creating custom templates that is just perfect for your branding is no longer a problem! It is a smart choice to have a CPQ cloud solution.
With this, all you require to access and operate the system is an internet connection. Cloud-based tools make your data available online at all times. This is advantageous because you are able to create quotes from anywhere, at any time.
With these tools, your prospects can also easily view and approve the Sales quote online, therefore speeding up the ordering process.
Giving a quick response also applies to returning calls, texts and emails. Make your prospect feel important by giving rapid responses that answer their questions or dispel their doubts.
7. STREAMLINE YOUR SALES PROCESS
Time is literally money in the business world. Technology has come to the aid of business to make some tasks completed more rapidly.
The sales process need not take a long time anymore. It has to be streamlined to be able to keep up the pace with demand.
If your sales process is slow, it implies that your sales team will spend a lot of time and effort in closing deals. With a longer sales cycle, your leads may grow cold. If you streamline your sales process, you will save time, close more deals, and boost your productivity.
In order to shorten the sales cycle, it is important to automate important processes that are important for the effective and efficient performance of your sales team. Repetitive tasks can be automated by using tools like CRM, CPQ (configure price quote), etc.
This will go a long way in helping to increase sales performance and grow revenue.
It is also very important to simplify your sales process. This is to make it easier to comprehend by the client and hence, making them to quickly decide on getting your products without having to do more research on their own.
8. FOLLOW-UP REGULARLY
A regular follow-up of your prospects is a must if you want to move your sales forward. This is because many deals are usually not closed in a single meeting.
Constant communication with your prospects will make them know you have them in mind, and as such, they will not want to disappoint you. If you don’t get in touch with your prospects frequently, they may get stuck in your sales funnel. With a regular follow-up, you get another chance to come across to your prospective clients as excellent.
If the interest of your prospect in your product or service wanes along the way, an effective follow up can help you regenerate their interest and encourage them to make purchasing decisions.
A follow-up can be as simple as a phone call or direct email. Don’t overlook it. It most certainly helps in closing deals.
9. BE REAL, BE YOURSELF
With all the information you have about your product, don’t feign enthusiasm when presenting your product or service to a prospect.
A client can easily perceive if you’re being genuine during the sales process or not. Your client should sense that you’re being yourself through the presentation.
It is also important that you pass the message that you care about their business and not just the deal. If you come off too calculated, many people will be turned off.
There is nothing wrong with being prepared. It’s okay to dress smart and appear ready for every question that comes your way.
However, remember that it is the customer’s best interest you have at heart.
Make them feel important.
10. KNOW YOUR COMPETITORS
To close deals faster, it is critical to expect and neutralize the competition. You should ask questions like “What plans do they have to make them win? Whose help is crucial to them? What do they usually say about us?
You must be able to show how you solve the challenges of the client better than other competitors.
Competing is tough for business.
But knowing your competitors makes you work harder and hence, your business becomes better.
Competition is actually a blessing in disguise.
If you are able to recognize your strong points, you can use those areas in which you are better than your competitors to lead to a quick close. This all boils down to adequate preparation.
Carry out an extensive research and take note of the beneficial things you’re doing but that your competition is not. If you highlight this difference, it can make all the difference.
Don’t ignore this point, it is oftentimes your biggest selling point.
11. WATCH WHAT YOU SAY
There are more minefields than ever. Don’t shoot yourself in the leg. Don’t be so eager to say something that you end up putting your foot in your mouth.
If there are certain areas of your product or service you don’t fully understand, learn them thoroughly or avoid taking yourself to those uncharted waters.
Keep your talk to the point and focus on your areas of expertise. Also, don’t get all emotional when trying to make a sale. Don’t sound too desperate too. You want to remain real and personable, but you have to remain professional.
12. ASK FOR THE SALE
After all your preparation, and making your client interested in your service, simply ask for the sale. Good closers unfailingly ask for the sale.
They don’t practice sitting on their hands and hoping for a sale, neither do they wait for the client to raise their hand and volunteer to buy.
Good closers seize the moment. Some closing techniques include the direct close, the assumptive close, and the choice close.
The Direct Close
As the name implies, this close is direct and to the point. The best closers tend to use this closing technique quite often. For instance, you could ask;
“So, Sam, would you like to place that order now?”
This technique will make the prospect give a definitive answer one way or another. It is easy and quick.
The Assumptive Close
Here, you assume the sale has been made. Here, the client is required to make a minor ‘administrative’ decision. For example, you could ask;
“Okay Morgan, how many would you like?”
This is the most popular closing technique. It is less assertive than the direct close.
The Choice Close
This is an assumptive close with options. Here, the client is required to make a decision on two administrative points rather than on a major purchase. For example:
“Which would you like to begin with. The 3-pack or the 5-pack?’
All these non-aggressive closing questions will make the buyer feel comfortable while you still have some pressure on them.
13. INVOKE A VOW OF SILENCE
Silence is an itch that needs to be scratched.
If you want to close a deal on the telephone, always invoke a ‘vow of silence’ after asking for the sale. When you ask for the sale, keep quiet until the prospect speaks. Silence is a very powerful and effective tool in closing deals through telephone compared to face to face selling.
This silence will actually work for you. Silence on the telephone is usually perceived as about six times longer than it really is. This is because unlike a visual transaction, there is no visual distraction in sales through a telephone. Silence creates a degree of tension by creating a vacuum in the conversation, making the prospect feel compelled to fill the silent void. The tension created is a 2-Way Tension.
It works in both ways.
However, since you’re aware of the tension in the first place, you could feel it less. Don’t give in to the overwhelming impulse to fill in the void with a rush of further comment on the product or service, and never go to the extreme of offering the prospect more time to think about the offer!
To be an effective closer, you have to resist the urge to break the ice because you are aware that any sort of additional conversation may detract the prospect from making a quick decision. Invoke a vow of silence and wait it out.
Let your client have the time to digest your offer, let them have the time to weigh their options. Just wait long enough and give them time to say yes!
The faster you close deals, the more successful you will become in the business world. If you’re able to hone these skills and practice them, you’ll be an unbeatable salesperson and enjoy many promotions.
Yes, you can be a great closer.
Remember, you attract what you think!
I really do hope these tips helped. See you at the top.