ABC - Always Be Closing!

If you’re in Sales and of a certain age, you will probably have seen the iconic film Glengarry Glen Ross. If you haven’t seen it, I can thoroughly recommend it.

In one of the most famous scenes in the film, Blake (Alec Baldwin), a super-successful salesman, is sent to a Sales office to deliver an abuse-filled motivational speech. Shelley Levene (Jack Lemmon) goes to pour himself some coffee, but Blake orders him to sit down—"Coffee's for closers"  To illustrate his point, Blake uses a whiteboard and chalks up an acronym. "ABC - Always. Be. Closing"  

In my experience, a high percentage of (not so successful?) sales people are afraid to ask for the order, perhaps for fear of rejection? Super successful sales people, on the other hand, recognise the optimum time in the sales cycle and love asking for the order - they’re always closing, at the right time.

There are literally dozens of closing techniques and here are just a few:

Assumptive Close: This involves assuming that the prospect has already agreed to purchase the product or service and proceeding with the closing steps accordingly. For example, the salesperson might say, "Who would you like to nominate to receive the software?" This approach subtly encourages the prospect to confirm the agreement without directly asking for a decision. They consider who to nominate, rather than whether they want it.

Trial Close: This involves asking a series of questions designed to gauge the prospect's readiness to make a purchase. For instance, the salesperson might ask, "When you place the order, would you prefer the standard package or the premium package?" This technique helps the salesperson identify any objections or concerns the prospect may have and address them before proceeding with the final close.

Urgency Close: Creating a sense of urgency can motivate prospects to make a decision more quickly. This can be achieved by highlighting limited-time offers, impending price increases, or product availability constraints. For example, the salesperson might say, "Our special promotion ends tomorrow, so if you want to take advantage of the discounted price, you'll need to act fast." This may seem a bit clumsy, but can be really effective if used cleverly and at the right time.

Fear-of-Missing-Out (FOMO) Close: Similar to the urgency close, the FOMO close leverages the prospect's fear of missing out on a valuable opportunity. By emphasising the benefits or advantages of the product or service and highlighting the potential consequences of not making a decision, the salesperson encourages the prospect to take action. For instance, the salesperson might say, "Many of your competitors are already benefiting from our solution. If you wait too long, you risk falling behind in the market."

Summary Close: The summary close involves summarising the key points of the sales presentation and reaffirming the prospect's interest in the product or service. The salesperson then asks for confirmation or agreement to move forward with the purchase. For example, the salesperson might say, "Based on what we've discussed today, it seems like our solution aligns well with your needs. Can we proceed with the paperwork and arrange the start of the project?"

Objection Handling Close: When faced with objections from the prospect, the salesperson can address the objections directly and then ask for the sale. By resolving these and reaffirming the value of the product or service, the salesperson encourages the prospect to make a decision. For example, they might say, "I understand your concern about pricing. Let me explain how our solution can deliver a significant return on investment for your business, before we go ahead."

Alternative Choice Close: This involves presenting the prospect with two favourable options, both of which lead to a positive outcome for the salesperson. By giving the prospect a sense of control and ownership over the decision-making process, the salesperson increases the likelihood of closing the deal. For example "Would you prefer to start with a 1 year term or the 3 year one to get the better price?"

Puppy Dog Close: Here the salesperson offers the prospect a trial period or a limited-time experience with the product or service so that they experience the benefits first-hand, and are more likely to commit to the purchase. E.g., "Why don't you take our software for a pilot for the next two weeks? I'm confident you'll see the value it can bring to your business."

Reverse Close: In the reverse close, the salesperson turns the tables and asks the prospect why they haven't made a decision yet. This technique can help uncover any lingering objections or concerns that the prospect may not have shared openly. For example, the salesperson might say, "Help me understand what's holding you back from moving forward with our solution. Is there anything specific you're still unsure about?"

Silent Close: Sometimes, silence can be a powerful closing tool. After presenting the proposal or asking a closing question, the salesperson remains silent and allows the prospect time to process the information and respond. This technique can create a sense of discomfort or pressure, prompting the prospect to make a decision. Note that it's essential to use this technique judiciously and respect the prospect's need for time to consider their options, and, as always, timing is key.

Conditional Close: With the conditional close, the salesperson sets specific conditions or criteria that must be met for the prospect to proceed with the purchase. This technique can help overcome objections or concerns by addressing them directly and providing reassurance. For example, "If we can address your concerns about implementation timelines, would you be ready to sign the contract today?"

Guarantee Close: Offering a guarantee or assurance of satisfaction can help alleviate the prospect's fears or reservations about making a purchase. By providing a risk-free option, the salesperson demonstrates confidence in the service and encourages the prospect to take action. For example, the salesperson might say, "We offer a money-back guarantee if you're not completely satisfied with our software within the first 30 days. That's how confident we are in its effectiveness."

These are just a few examples of closing techniques that can help navigate different sales scenarios and overcome objections effectively, ultimately increasing the chances of successfully closing software deals and driving sales growth.

They can be used individually or in combination, depending on the specific circumstances of the sales interaction and the preferences of the prospect.

If you don’t ask, you don’t get, so ABC, Always Be Closing!