5 Most Effective B2B Sales Closing Techniques
Sales closing is one of the most awaited moments for every seller. However, since the B2B sales are not as frequent as B2C, the process of closing sales usually takes longer. Fortunately, by implementing the right strategies, you will be able to close deals more quickly and easily.
The way customers make purchasing decisions is always changing. This is why it’s important for you to keep evaluating and updating your sales closing techniques. Here are five ways to help you close sales faster and win more deals.
1. Focus on Your Potential Leads
One of the most common mistakes often made by B2B sellers is giving their leads the same amount of attention, although not all of their leads have the criteria to become their customers. As a result, they often waste a lot of time, energy, and costs.
The first thing you can do to close deals faster is focusing more on your qualified leads. You must make sure that your leads you are pitching have what it takes to become your customers. Therefore, you should find detailed information of your leads before you meet them.
Dig deeper into your lead information in order to know if they have the budgets, what their requirements are, how long they’re going to use your service or product, and ask them various important questions to enable you to figure out whether or not they are potential.
To make it easier for you to identify qualified leads, consider using a Customer Relationship Management (CRM) system. This automated solution helps simplify your sales process. With the system, you can save and manage all your lead and customer information in a centralized repository. Most importantly, it helps you focus on your potential deals by figuring out your expected revenue from each of your leads.
2. Sell the Value of Your Product or Service
Instead of talking about how good your product or service is, let your prospects know how they can benefit from using it. Your prospects would be more interested in knowing what kind of value your business offers to them. Remember that you are not the only vendor they are considering, so you should let them know your competitive .
You can provide a holistic solution that suits your leads’ requirements. For example: you are a software provider whose prospective customer is looking for an automated business solution that can be used by as many users as possible in their company. Therefore, you could offer them unlimited user pricing (something other software providers do not offer).
3. Find the Decision Maker
The easiest way to close deals faster is meeting the decision maker into your sales meeting, therefore decisions can be made as soon as possible. Before meeting a prospect, make sure that you are going to meet a decision maker, not an employee.
Even if you can’t win the deal right after the meeting, you shouldn’t just give up. Invite every decision maker that you have met before to your events. Keep sending them newsletters or any updates about your product or service. This will make them have more respect for you based on how you treat your leads and they might consider your offer again.
4. Use the ‘Now or Never’ Technique
Creating a sense of urgency is still one of the most effective sales techniques, not only for B2C but also B2B sellers. The now and never technique is not intended to force your leads to buy your product or service, but to provide the right reasons for using it right now.
There are a few things that you can do. For example, you could provide discounts for those who buy your service or product this month. Or, if you sell hardware products, you can also provide a three-month free maintenance for those who buy them today.
5. Plan Your Sales Follow Ups
Sending non-stop follow ups throughout the day will make your leads feel annoyed and might eventually run away from you. Moreover, that also makes you look desperate. It is best to schedule your follow ups, for example twice a week.
Ask your prospects when they can make a decision. Find out when is the best time to contact them as well. In addition to scheduling follow ups, you also need to know exactly what you should talk about to your leads. Know your last conversation with them so that you don’t have to repeat the same questions and nothing is forgotten.
A CRM system can facilitate your sales follow-up process. You can save records of your sales meetings and check them out again before following up with your potential leads. You can figure out when a salesperson last contacted a prospect and how the progress is. You can monitor the status of each prospect and sales in a single view, making it easier for you to determine your next actions.