Strategies for Closing a Professional Business Deal
Trying to make a sale can be a cruel, grueling process, particularly if you struggle with closing. “Always be closing” is a motto all salespeople live by, so learning the best strategies for closing a professional business deal can instill your confidence.
Strategies for Closing a Professional Business Deal
Identify and Target the Decision-Maker
In today’s world, a company may have a long chain of command. Finding who the decision-maker is may require some research, but it’s well worth it. If you’re selling something, you want to discuss things with who’s in charge. People may lose your pitch in the shuffle by going through the various channels.
Using a basic analogy, you wouldn’t want to ask restaurant advice from another tourist in the city you’re visiting. You’d like to know the under-the-radar spot from someone who’s lived there for decades. Target the one person who gets the ball in motion. A simple, non-invasive e-mail to that decision-maker puts you on the right track.
Learn To Negotiate Without Being Overbearing
Most deals don’t follow a linear path from offer to acceptance. Typically, there is a back and forth between the two parties before you find a resolution. Thus, becoming a master negotiator will get you ahead of the curve. Becoming an expert negotiator takes a lot of skills, including listening to the other side and not pushing the limit when you get a “no.” Pushing too far is one of the many closing sales mistakes to avoid making.
Create a Sense of Urgency
People tend to make decisions when there is a sense of urgency. Incentivizing conditions, like a discount, may be enough reasoning to get them to say yes. Although a “take it or leave it” approach may be harsh, using that thought process, in gentler terms, may close the deal.
Know When To Take a Break
Sometimes, when it feels like you keep hitting a wall, it’s best to walk away and take a break. Hopefully, this break ends better than a Ross and Rachel break, and it can clear your mind. For both parties, stepping away and reevaluating can help you work toward a solution.
Don’t Forget To Follow Up
If you closed the deal and made the sale, the job is still not complete. Following up after the close is essential if you want to create a long-lasting relationship with that person. Getting their feedback and finding out if they need any additional service builds customer loyalty, keeping them coming back.
Following these strategies for closing a professional business deal is helpful now and down the road for any situation dealing with sales. Whether you’re working for someone else or yourself, knowing how to close sales sets you apart from the rest.