5 Steps to Closing a Deal

June 22, 2020

After weeks of talking over the phone and email, you’ve finally gotten a potential client to agree to meet for a sales pitch. While having a great product or service is very important, it’s even more important to have a great pitch.

Successful closure of a deal is never by fluke. It requires a solid sales strategy to form the backbone of your sales process.  Here is the 5 step sales process that can help you nail your sales pitch and get you to close deals faster and more effectively.

1. Have a Client-Personalized Approach

If you’re selling a product then you’ve already been sold on said product. It is important, however, to remember that the client you’re trying to sell to might not see the necessity in buying your product. This is why it’s important to have a sales approach tailored to the client. Make sure that you engage the client and make them feel like they’re actually a part of the sales process.

A thorough understanding of the client’s business needs, the unique challenges they face, the competitive market scenario, goals, passions, pain points etc. can give you vital insights into personalizing your offering to suit the client’s requirements.

Offering a personal touch in client interactions is a crucial requirement for improving your sales team’s performance. Engaging with the clients can offer critical insights that can help you position your offering better, making it more relevant to their needs. With the client’s requirements serving as the context for your proposal, your pitch is also more likely to get a favorable response.

2. Gather Information

How do you personalize your sales pitch for every client? The key to a client-centered approach is asking them questions. Before starting to talk about your offering, you need to first listen to their needs.

Learning to be a good listener is an art that every successful sales rep needs to cultivate. Start by having a list of questions that you need to ask the prospect to understand their business better. While it is natural to want to talk about your product or service from the get-go, focusing on becoming a good listener let’s the prospects feel they are being heard and understood, building their trust in you.

This step is very crucial because without knowing what the client wants or needs then you can’t offer a proper solution to their problem. Ask as many questions as you can without sounding annoying or uninformed. By doing this you both you and the client know that your solution is going to be specialized towards them.

3. Create a Dynamic Yet Effective Presentation

Having an effective presentation is key for any sales pitch because it creates an image to go along with the idea that you’re trying to sell. Don’t just use some boring slide deck with graphs and numbers. Instead, create a dynamic and engaging presentation while telling only the information vital to the sales pitch.

The presentation shouldn’t aim at selling your product or service. Rather, it needs to focus on selling the vision of the benefits that would be in store for them once they accept your offering.

Decision making takes place in the limbic part of the brain that functions on emotions rather than purely rational thinking. The emotional response that your presentation elicits from your prospects inches you closer to successfully closing the deal. The presentation needs to answer the questions of “why” and “how” rather than just focusing on the “what”.

4. Address Any Potential Objections

The prospects would likely have queries and questions about your offering before agreeing to the deal. These points raised during the discussion stage are called objections, which need to be addressed for successfully closing the deal.

An experienced sales rep would tell you that the objections they face when interacting with the prospects tend to recur from time to time. You need to maintain a record of frequently asked questions and commonly faced objections. Come up with the best possible way to mitigate these objections and train every member of the sales team to handle these objections in a streamlined and uniform manner.

Very rarely are you going to go into a sales pitch where the potential client already wants to buy your product. The whole point of sales pitches is for the client to decide if your product can satisfy the need that the client has. Expect a lot of questions and objections to come from the client. Also, don’t take offense if the client is asking a lot of questions because they just don’t want to waste their money!

5. Close the Deal

Now that you’ve presented your product and answered any questions that the client may have, it's finally time to do what you met for in the first place, to close the deal. Just because you might be having an engaging discussion about your product with the customer doesn’t mean that they’re sold and ready to buy.

Be sure to display confidence without coming off as arrogant because one wrong move and the entire deal could fall through.

Now that you have the necessary steps needed to close a deal you show the world why your product or service is great and why it will be beneficial to buy it!

An easy to replicate and systematic sales process can help your sales reps accelerate the successful closing sales while decreasing the time required to close the deal.

Interested in increasing your sales team efficiency through a well-designed sales framework? Expert sales consultants at Rosegarden Consulting can help your sales team unlock their true potential and bring in tangible business benefits. Contact us for a consultation now.

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