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The core skill for most B2B companies is the ability to close deals. It doesn’t matter if you know how to generate tons of quality leads, your product really delivers, or the customer service is best in class.
If your sales reps can’t bring people on board, then none of that matters. While some people seem to take naturally to sales, there are still proper techniques and tools to learn to be truly effective.
Every company and product requires slightly different approaches. For example, selling a set of golf clubs requires a different approach than pitching CRM software.
However, these strategies can work for most, especially if you adapt them to work in your niche. Also, don’t just pick one of these—they often work most effectively stacked on top of each other.
For example, combining a now or never close (“only available for a limited time!”) with the something for nothing strategy (“if you sign the deal, we’ll also give you XYZ”) can be especially effective.
Imagine you take your kids to the pet store, and the clerk allows your family to take a 10-week-old golden retriever home for a few days to gauge the fit. Is there any chance you’ll bring that puppy back?
This closing technique works well for a product you’re sure will wow your clients, such as a set of golf clubs or software with an easy-to-use interface. In industries where it makes sense, the puppy dug close is perhaps the easiest strategy to use.
However, It likely won’t work for complicated solutions that require onboarding and a steep learning curve.
Example: “You can try out the software for 7 days for free. Would you mind if I called you back in 5 days so you’ve had a chance to try it out and I can answer any questions?”
You’ll recognize this as the limited-time offer. You see this daily with deals at fast-food restaurants, internet packages, and retail stores.
Of course, it also works just as well with more expensive B2B sales. Managers are always working with a budget, and savings on your product means they can use the money elsewhere.
This offer could include a simple discount or extra services. Some industries (such as selling live events) always work with limited-time offers.
Example: “If you can sign by the end of the week, you’ll get an extra 10% off.”
The ownership close puts the potential client in the shoes of already owning the product. You’re helping them project what it will be like using your product.
This strategy is tremendous if you feel confident in how things are going. If you’ve answered a few objectives already and can tell they’re leaning towards moving ahead, this one can help push them over the edge.
You can help them see a future with:
Example: “When using our service, you’ll save over $3,500 per year. How do you think your company would spend that money?”
Any good salesperson knows they should use a series of closing techniques throughout the process. You’re selling them on each step that you present, and if you can get them to agree with you throughout the whole presentation, you’re on your way to a sale.
Questions like “Does that make sense?” or “Can you see how that feature could help your business?” can put them in a positive mindset throughout your pitch.
Then, you can hit them with a bigger closing question at the end.
Example: “Is there any reason we can’t move forward with getting you into our coaching program today?”
When people feel like they’re getting a deal that only they are getting, you’re on your way to a sale. Of course, it’s easy to make this strategy feel hacky or sleazy, such as a car salesman repeatedly asking their “manager” for permission to discount the car while they actually play ping-pong in another room.
A good salesman can find out enough about their client’s needs to make a unique offer.
Example: “It seems like you might enjoy these golf clubs, but you’re 6’ 6” tall. What if I can get them resized to your height for free?”
Similar to the ownership close, you’ll be projecting forward. With the assumptive close, you’ll assume that they’ve already agreed to move forward. There won’t be a question where they get to say “yes” or “no.”
Example: “What form of payment would work best for you?”
The alternative close presents multiple options, which helps the potential client feel in control. What really happens here is one of two things:
Example: “Would you be more interested in our more popular Gold Package, which includes the first month free and unlimited support, or the Silver Package?”
The something for nothing close means that you’ll give them something for free. The best version of this has the client feeling like they’re getting a great deal that others aren’t (similar to the unique offer close).
Companies often use this closing technique when enticing clients to switch from a competitor’s service.
Example: “We’ll pay your entire cancellation fee if you switch to Verizon.”
Opportunity cost close means that you’ll highlight specifically what your potential clients will miss out on if they don't sign with you.
For many, the fear of loss is greater than the desire for gain. The opportunity cost close puts their focus squarely on what they’ll lose.
Example: “You’ve mentioned that data hacks have been a regular issue for your company because you haven’t had an adequate data security solution. Would you like to avoid future hacks by signing a deal today?”
Also known as the analytics close, this strategy helps data-minded people see the numbers behind making a certain decision. Ben Franklin was famous for rationally weighing decisions by listing out pros and cons.
Example: One strategy is to present generic results, such as “Our clients experience 15% more leads in the first 30 days, on average.”
However, it is even better to tailor data specifically to their company. “After reviewing your specific needs, we can confidently project a 10% increase in processing speed on your servers.”
The polar opposite of the Benjamin Franklin close, this strategy has you tapping into empathy to connect with your clients emotionally.
This is better done once you more fully understand the client's needs. Then, you can really paint a picture of their pain, mentioning that you understand what they’re going through and how you’ve seen other companies frustrated to their core because of it.
Example: “I can see you’ve been trying to fix your lead quality issue for a while. I can see how frustrating that might be for you, as I’ve seen this same issue sink other companies. I know I get frustrated if I often talk with people who are uninterested in our services.”
The best salesperson in the world with full mastery of these closing techniques still needs good leads to make sales. Almost every company has a lead problem—either they don’t have a web presence to attract new leads, or they’re having trouble scaling while keeping lead quality high.
It doesn’t have to be an issue for your company. Coldlytics allows you to build targeted lists of leads based on your ideal customer persona. You get full control of your contact lists, meaning you can choose from hundreds of parameters to cherry-pick the best of the best for your company to market to.
If you’re ready to upgrade your lead quality (and quantity) today, go ahead and create a free account to see how we can help.
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