Follow This Five-Step Process To Close Deals Like A Total Pro
There are many different ways to close a deal. For example, you might take an assumptive approach and move forward assuming the prospect wants to buy. Or, you may particularly like taking a social selling approach and rely on social media to build relationships with potential buyers. The strategy you use may depend on your prospect, your personality or the specific scenario. Whatever style you happen to prefer, there’s a five-step process that can get you to a signed deal quickly.
Sales expert Anthony Iannarino has pinpointed a process that works based on his experience closing numerous multimillion-dollar deals. In this issue of Promotional Consultant Today, we highlight his process. Read on to learn how you can close more deals with confidence.
Step 1: Create value in the sales conversation. According to Iannarino, this is the most important outcome of any meeting with a potential buyer. They need to know how they will benefit from working with you — they don’t care about your credentials, your new products or your company’s stellar track record. Prospects are looking for someone to help them with the advice and recommendations that will ensure they succeed, Iannarino says. The more you can educate them on what they need to do to create the outcomes they need, the easier it is to close the deal.
Step 2: Confirm the decision-makers. The next step to closing more deals is to verify who is buying. You may talk to one person, but there may be a whole team of people who will ultimately sign off on the deal. Ask who needs to be part of the sales conversation and who is going to make the final decision. Iannarino says that any lack of access to the decision-makers will make it much more difficult for you to close.
Step 3: Learn the prospect’s process. When multiple decision-makers are involved, it’s important to determine the process. Whether it’s formal or informal, someone is going to sign the contract, Iannarino says. Ask your prospect how the company makes decisions and approaches the buying process. This can give you insight into what they need as you move forward.
Step 4: Create a compelling proposal. This step seems straightforward, but it’s worth some reflection. The entire sales conversation is about helping the client determine what to do to get the better results they need, Iannarino says. Show the prospect that you have the right product, service or solution for them. Illustrate how you can bring them value. If your proposal isn’t right, the prospect will move on.
Step 5: Ask for the business. Want to close more deals? Ask for the business — but do it the right way. This means not phrasing it like, “If I cut the price by 10%, would you sign today?” A statement like this makes the prospect think that what you sell is worth less than you made it out to be. Instead, Iannarino suggests asking something like, “Unless you need something else from me, can I have you sign a contract so we can get started?”
There’s no one way to close a deal, but if you follow the five steps above, you can begin to level up your approach.
Compiled by Audrey Sellers
Source: Anthony Iannarino is an international speaker, sales leader and author of The Sales Blog. He’s also the founder of B2B Sales Coach & Consultancy, a boutique sales coaching and consulting firm.