You’ve done your prospecting, initiated a relationship, scheduled a meeting, and performed a demo. Now comes the part that many salespeople dread.
However, the close is arguably the most important part of the sales process. It’s what turns casual observers and interested parties into real, paying customers.
The close also the part that helps you earn commission and hit your quotas. Your ability to close deals will largely determine your success as a sales rep. Those that quickly close deals will be able to sell more than those that drag their feet.
Don’t worry; we’ve got you covered. Here’s what you need to know about how to close deals as quickly as possible and some closing questions to help you get started.
9 Actionable Tips to Close Deals Faster
1. Do Your Research
How quickly you can close with a client starts before your actual close. Your close will take significantly longer, for example, if you are thrown off-guard by a question you weren’t anticipating. If you do your homework to figure out the potential objections up-front, you can answer knowledgeably right then and there, making the process much faster.
Before you engage in closing with a client, make sure that you have done your research first. You should know their goals, pain points, and the main decision-makers. Your close needs to be geared to their challenges and needs, and you should be prepared for any potential objections.
2. Be Genuine
Prospects can tell right away when a sales rep views them as another chance to make a sale instead of as a person. While you should be prepared for their potential objections, you also need to make sure you’re not coming across as calculating.
When they are speaking, actively listen to what they are saying. Many sales reps make the mistake of listening long enough to pull out a pre-meditated answer. Instead, show that you care about their business and concerns and are looking out for their best interests.
3. Close With the Solution, Not the Product
Your close needs to concentrate on your client, not your product or service. Instead, focus on how you can be a solution to their challenges. Your close should revolve around their goals or challenges and how you can provide practical help.
Make it clear how your product or service will benefit their business directly. If you push a product that doesn’t seem to have clear value for your prospects, you are far more likely to lose their attention and respect.
4. Ask Questions
A close should not be a one-sided conversation. Asking questions will ensure that you have buy-in from the prospect and enables you to answer any lingering questions that they might have.
When doing your research, come up with questions to ask your prospects too. It can keep the conversation going and ensure that your close is headed in the right direction.
5. Close Deals Faster With Account Mapping
Territory management can give you a deeper understanding of both your prospects and your team. One way to do this is through a visual-based account and territory mapping tool.
By utilizing an account mapping tool, your reps will always have a clear picture of where they need to focus their attention and when. Mapping and route optimization tools can help make getting to prospects faster and more efficient — saving your team a lot of time (often 30% in windshield time on average) and resources. All of this allows your reps to close deals much faster.
These territory management tools also help to increase accountability, transparency, and communication. They also give you and your team the visibility to understand where the greatest opportunities lie.
6. Utilize a CRM to Boost Automation
If you’re still trying to manually keep up with prospects in hard copy form or even using a CRM but still using a lot of manual processes, you can significantly speed up processes and close deals much faster. This is done by utilizing the automation capabilities within a CRM.
Many of the leading sales CRMs, like Map My Customer, Hubspot, and Salesforce, all allow you and your team to automate the daily repetitive tasks that take up so much time. These activities help shorten the sales cycle and enable your sales reps to do their job more efficiently.
You can automate follow-up communications, meeting check-ins, updates to sales data, and more. Freeing up more time and resulting in your reps closing deals faster.
7. Create a Sense of Urgency
The fear of missing out is a very powerful thing. An easy to implement tip to close deals faster is to create a sense of urgency.
Put a deadline on the deal and price to give the client an incentive to commit, so they don’t miss out. You can do this by creating a temporary price discount or offering a free add-on. Give the prospect the feeling they have the upper hand in the deal.
But, be careful not to rush the customer and end up pushing the sale away. Just present an extra reason why right now your product or service is the best choice for them.
8. Respond Quickly to Quote Requests
One of the things that can often take up too much time at a critical part of the buyer’s journey is when a lead requests a quote. A long wait at this point in the sales cycle can significantly impact the potential for close.
That is why automating your quote creation and responding quicker is a key tip in mastering how to close deals faster. Even the most complex quotes can be created in minutes using a Configure, Price, Quote (CPQ) tool. Because the CPQ tools are often cloud-based, you can customize ready-made sales quote templates on any device to save substantial time.
CPQ tools are sometimes now included in sales CRMs or available as an easy-to-use add-on.
9. Don’t Be Afraid of a “No”
This may be one of the top reasons that closes tend to linger instead of ending in a deal. Sales reps are afraid to ask for the sale because they are afraid of the answer “no.” They tip-toe around the ask and drag the process along, hoping for a sure sign of a “yes.” However, sales rejection is a part of the job, and successful sales reps aren’t dissuaded by it.
When it comes time to close, ask for the sale. When you do hear a “no,” don’t take it personally. Instead, offer another alternative or simply accept it. The less you get the defensive, the bigger possibility that they may come back to you in the future.
Closing Questions that Sell
There are a number of techniques that a sales rep can take for a successful close (In fact, you can read more about sales closing techniques here), but here are some winning questions to get you started closing your deals:
Does this sound like something that would be valuable to you/your company?
As we discussed above, you should be putting your product or service forward as a solution concentrating on the prospect. This question gives them a chance to clarify anything that seems unclear to them and raise any objections. You can then make sure you sell as clearly as possible to your potential client.
If they answer positively to the question, you can move forward to close the deal.
Can you tell me a reason to not move ahead with a deal this month?
This close moves the sale from theoretical to practical. In this question, you are giving a real timeline for closing the deal. It also makes it more real to prompt them to raise any real objections that they might have. You can proactively address their concerns instead of dealing with a half-committed prospect.
Why don’t you give it a try?
This question works well because it reframes the entire sale. Many prospects are intimidated at the thought of commitment more than anything else. Instead, you create a more casual atmosphere that makes them more comfortable with saying yes and lowers the amount of commitment initially.
Taking all of your needs into consideration, here are the two options that will work best for your company. Would you like to go with X or Y?
A more aggressive question that assumes the sale, this one moves forward the process by giving the prospect a choice. The potential customer will be more likely to choose one instead of turning down both options, so it will enhance the chance you will get a “yes” instead of a “no.”
Have we earned your business today?
A simple and straightforward close, this question gives your prospects the chance to bring up any objections or just say yes. It allows you to close head-on and leaves little room for taking too long with your close. The more up-front with your close, the faster it will be!
Start Closing More Deals
The more deals you close, the more sales you can make. While it may be intimidating to finally ask for the sale, it does get easier with practice. As long as you are doing your homework, showing how you can help your prospects, and making their needs your chief concern, you are on the path to success in closing deals.
Using technology to understand and optimize your sales cycle is a great first step in decreasing your team's time from start to close. Different tools can also show you how current sales efforts affect your bottom line, let you understand where to make improvements, and automate many of your and your team’s processes. This will empower your reps to close deals lightning fast.
Don’t have the tools to help you optimize your sales cycle or better understand your data and customers? See how Map My Customers can help you start making data-driven decisions, shorten your sales cycle, and close deals faster.