7 changes in the marketplace influencing closing rates
August 4, 2010 by Ken DooleyPosted in: closing, economy, In this week's e-newsletter - Sales & Marketing, Latest News & Views - Sales & Marketing, Value
Closing today is a lot different than it was even a few years ago. Here are seven significant changes in the marketplace that have had a dramatic influence on closing rates:
- The marketplace has become more crowded, competitive and mature.
- Trust is more essential than ever to close the sale.
- Purchasing has become consensus-oriented and fewer decisions are being made by just one person.
- The ability to sell value rather than price is more critical today.
- Customers are looking for advisers and business experts who deliver results that exceed their expectations. They are not interested in salespeople who are only interested in selling a product or service.
- Buying decisions are being made at higher and higher levels.
- Good closers develop strong relationships with prospects.
Characteristics of top closers
The difference between top and average closers is not based on closing secrets or special techniques. Attitude, confidence and enthusiasm are the three keys exhibited by outstanding closers.
Here are several other core beliefs of super closers:
- They believe in what you sell. Top closers start every presentation by assuming that prospects will buy from them. A passion for their products or services is their most effective selling tool.
- Accentuate the positive and eliminate the negative when closing. Prospects respond far better to positive messages than negative ones. Top closers work hard to keep out negative influences. They remain upbeat, even when dealing with pessimistic prospects.
- Don’t allow yourself to get depressed, even when a sale falls through. Top closers maintain enthusiasm by repeating positive affirmations to themselves, such as, “I will close the sale because I have the best product.”
- Focus on prospect needs. The difference between convincing a prospect to buy and convincing him or her to buy now can come down to a strong understanding of buyer needs. They use benefit statements to create belief in their products or services.
- Speak in terms of value for the prospect. Top closers help prospects see not only the ROI they’re likely to receive, but how much the absence of the product or service being sold is costing the prospect today.
- Listen first, sell second. Instead of making assumptions, top closers ask questions to uncover why prospects buy and how their buying process works. They take notes during their presentation to make sure nothing is lost.
- Show patience. High-performing closers consider the longer buying cycle as an opportunity to educate the prospect. They recognize that prospects who turn into the best customers may be under cultivation for two or three years.
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Tags: Attitude, closing, confidence, price, Value