Question

Please identify and discuss effective sales closing techniques (at least 3) used by companies in closing strategy. Provide justification by explaining your reasoning.

Answer 1

Sales closing techniques are designed to give final nudge so that the best possible outcomes are achieved. Following are the sales closing techniques used by the companies in closing strategy :

1. The Urgency Close : In this technique sales person creates a sense of urgency on the prospects so that the decision is taken within the short time frame. As this technique involves certain risk therefore must be used by the experienced salesperson occasionally, especially if they have good relationship with the clients.Its the psychological practice used on the prospects. For example : Introducing the limited time offer on the product or service that is either discounts or additional features.

2. The Assumption Close : It involves positive thinking by the sales representation right from the first sales interaction with the prospective clients. Understanding the clients interests, objectives and engagement is important during the rest of sales process. It provides the direction for both the client and sales person with the good intent from the beginning so that the win win situation is achieved. For example, asking questions like, When do you want to receive your product or does the product meets your specific need?

3. The Ben Franklin Close : This technique involves making understand the prospects pros and cons of your product and how it will help them to meet their needs. While closing the sales its an effective technique as it provides valuable information of the product when they are hesitant to make purchase decision. For example, providing clients more pros for buying your product which will outweigh the cons, so that the sales deal is approved.