Closing sales is not some mysterious process known only to a select few. It is an extremely teachable and repeatable formula. However, there are definitely mistakes you are making if you are not closing deals. This article reveals them and how to get out of your own way…
10 Barriers to Closing Sales
Closing is the only part of the sales cycle where…
- The customer can benefit from your product.
- You get paid.
For that reason, you must master this step to a higher degree than all the rest.
Still, you can sales roleplay until you are blue in the face. But if you don’t avoid these barriers to closing sales, you’ll never be at the top of your game.
And believe it or not, very few of them have to do with your selling skills…
Not Showcasing Product as a Solution
The best sales reps in the world are their product’s number one fan — and that’s a good thing. Yet sometimes, you then get caught up in all the bells and whistles instead of what matters…
HOW YOUR PRODUCT ADDRESSES YOUR PROSPECT’S NEEDS!
As a result, you go on too long in the product presentation and end up losing the buyer’s interest.
The best way to avoid this barrier to closing sales is to nail down the dominant buying motive (DBM). Then, focus on presenting features, advantages, and benefits of your product that support that.
By doing that, you’ll end up with shorter demo times and more inked deals.
Missing Customer Cues
Another thing keeping you from closing more sales is focusing more on your demonstration than the client.
This happens more often when people are working out the kinks of their presentations. But, it can happen to anyone.
NOTICING THE BUYER’S REACTIONS IN REAL TIME IS SENIOR TO DELIVERING A PERFECT PITCH.
Why?
Because reading the room can tell you if they’re interested enough to buy now. Or, you can observe earlier that you’re losing them.
In that case, it is time to crack down so you don’t make the next mistake killing your closing ratio…
Refusing to Ask Hard Questions
Anyone who makes it in sales must grit their teeth and tackle the hard sell.
NO ONE LIKE IT.
Prospects get loud and emotional when you ask the hard questions. It is uncomfortable to ask them no matter how many times you’ve done it before.
Nevertheless, you must bite the bullet on this one. Otherwise, you are easily cutting your chances of closing sales in half.
Think about it like this…
If this person was certain of the product they needed or wanted…
Or, know everything you know about its features, advantages, and benefits…
They would have bought it already!
Don’t be afraid of applying pressure. Trust me, it is for you and the buyer’s benefit.
Believing Price Will Result in Closing Sales
Contrary to popular belief, consumers do not buy based on who has the lowest price…
EVEN WHEN A CUSTOMER TELLS YOU IT IS BECAUSE IT COSTS TOO MUCH.
The truth is that whatever your product’s price point is, you will hear complaints. So, lowering prices will never mean closing more sales deals.
To solve this problem, you have to hone in on their DBM and build value.
Occasionally, you may even have to re-present your product’s features. But it is a better alternative than discounting your offer and cutting into your close rate.
Avoid this mistake and don’t sell yourself short.
Presenting Without Intention
The fifth block keeping people from closing sales is entirely mental. But, it makes a huge difference to your bottom line.
It is all about the mindset you go into every sales cycle with. If that is wrong, you’re at a significant disadvantage.
YOU HAVE TO BELIEVE THAT EVERY CUSTOMER YOU GET IN FRONT OF IS GOING TO CLOSE.
I am serious about this. Even if the guy shows up saying he has bad credit…
Won’t buy without his wife…
Or, that he has to wait for Hell to freeze over…
You have to have the intention the prospect is going to do the deal anyway.
The intention you present your product with will show through your actions. It allows the prospect to feel at ease doing the deal with you.
Don’t underestimate this little perspective shift. It results in big money.
Being Reluctant to Use Soft Closes
Several years ago, I discovered a stat that helped me close more sales. Check this out…
WITH ALL THE INFORMATION AVAILABLE TODAY, CLIENTS ARE 57% READY TO BUY WHEN THEY FIRST REACH OUT TO YOU.
This is great news for salespeople because that means you seal the deal faster. Still, 57% is only a little over half the way there…
So, how do you check the temperature of the prospect? Trial closes.
Trial closes ask for the sale that can be asked at any point in the sales cycle — without adding pressure.
One of my favorites I train my sales team on is:
HAVE YOU HEARD ENOUGH YET TO MAKE A DECISION?
Use this sales strategy early and often. That customer might be ready to roll now.
Demonstrating BEFORE Disclosing Cost
A long time ago, sales gurus and managers taught rookies to keep product prices close to the chest.
The idea behind this was that you had the chance to build value before dropping the high cost on em. Then, you hope the prospect thinks it’s worth it by then…
BEING EVASIVE ABOUT PRICE ACTUALLY DOES THE OPPOSITE OF THE DESIRED EFFECT.
When you don’t reveal the numbers, the client will focus on it until you do.
The fact-finding will be ineffective…
Your pitch will fall on deaf ears…
All because you won’t say what it costs!
Keeping your buyer guessing about figures is preventing you from closing sales. You know your product is worth the cash — so, be upfront about it.
Ignoring Those Influencing the Decision-Maker
Previously, I have discussed how important it is to identify the decision-maker in deals. After all, it is that signature you need to close.
At the same time, you need to pay attention to who the decision-maker is listening to…
A common example of this is a man buying a car for his wife.
Yes, the husband is technically the one deciding on the purchase. But, if his wife is showing doubts and considerations that you’re not addressing…
My friend, you will never make that sale.
Answer the questions and concerns of “influencers” and they’ll help you close the head honcho — smoothly.
Using “Freebies” for Closing Sales
Similar to lowering the price in the hope of closing sales, free trials or “puppy dog closes” and the like are signs of green sales professionals…
IT TELLS THE POTENTIAL CUSTOMER THAT YOU DON’T VALUE YOUR PRODUCT ENOUGH, SO YOU’RE “GIVING IT AWAY.”
The only use of “limited time offer” tactics is for marketing and driving traffic — never for making effective sales.
For the buyer “looking for a good deal” who wants to take a mile if you give him an inch…
Spend more time building value instead.
They will still feel they got a great deal and you won’t cut into your company’s profit margins.
Being Reasonable About Buyer’s Time-Frame
The difference between an amateur and a professional salesperson is leveraging urgency in sales.
Don’t believe me? How often have you “liked” a product, decided to wait, then forgot about it?
Compare that to an instance where you loved or needed something. I bet you swiped your card quickly — no questions asked.
As I mentioned before, customers need you to validate their reasons for buying your product. Therefore, pressure and a sense of urgency are critical to closing sales…
So, don’t let your clients walk away to wait or think about it. Time won’t change the fact they need your solutions or make them any more certain.
As I said, most of these factors keeping you from closing sales don’t have to do with your selling skills. However, they are often due to a lack of confidence…
And, there is only one solution to that…
The Solution to ALL Mistakes in Closing Sales
I totally understand that sales feel daunting at first…
You don’t know how to handle every buyer objection or reaction…
Maybe you’re not sure how to use closing strategies…
The only way to overcome that is through experience. That being said, there is a way to gain experience without making mistakes with clients.
That is sales training and drilling the sales techniques with a partner. Then, you strengthen your weaknesses and smooth out your sales pitch with zero risk.
Yes, this commitment costs time and commitment, but it is worth its weight in gold for closing sales.
You owe it to yourself, your family, and every one your product will help.
Be Great,
Grant Cardone
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