Closing calls are one of the most important parts of the sales process. Knowing how to close a sales call effectively ensures you can successfully complete a deal, earn revenue for your business, and add another happy customer to your list.
Unfortunately, in today’s fast-paced and chaotic environment, call closing can be a complex and daunting prospect. Here’s how you can get the best possible results when closing the call on your latest deal.
Closing Call Meaning: What is Call Closing?
A closing call isn’t exactly the same as a “call close”. Technically, you close a call at the end of each conversation before carrying up with the next stage of the buying process. During the sales cycle, each call close will usually come with a call-to-action to drive your customer towards the next stage in the purchasing funnel.
Alternatively, the term “closing call” specifically refers to the last call you have with a customer before you complete the purchase. This is the finishing point in the sales cycle (before the customer success journey begins), where you address any potential objections, outline costs, and complete the transaction.
How to Close a Sale on the Phone
Closing calls are complex, and emotionally-charged conversations. They’re you’re last opportunity to get your prospect off the fence, and convince them to invest in your product. Unfortunately, there are a lot of things that can go wrong with call closing, from a customer feeling too pressured, to a salesperson failing to convey benefits effectively.
Here’s how to close a sales call effectively.
Step 1: Start with a Question
The first step in closing calls usually involves asking a question to launch the conversation. You can start by asking your customer how they feel about your product or service since the last discussion they’ve had, and whether they have any questions you can answer.
An easy option is to simply ask your customer “where you stand”, and allow them to tell you everything they need to know before they can make a purchase.
Step 2: Handle Objections
If your customer is still on the fence during your closing call, find out what their objections are, and make sure you have a way to respond to them. For instance, common objections might include:
We don’t have a big budget: Consider offering a deal or smaller package.
This isn’t the right time: Address the benefits your customer could be missing out on.
We don’t know if your product is better than [competitor]: Highlight the unique values of your product compared to the other company.
You can always keep a cold calling script handy to assist you in handling these objections.
Step 3: Establish the onboarding process
Once you’ve handled your customers objections and they’re ready to purchase, explain the specifics of getting started. Let them know how to purchase your product, and how they can get started. This is a good time to introduce training processes, and what kind of support your customer will have available to them.
It’s also a great chance to highlight some of the benefits your customer will be able to access immediately when they start using your product or service.
Step 4: Negotiate pricing and discounts
Outline the pricing for the service or product your customer wants, and prepare yourself to offer the maximum possible discount if the customer objects. You don’t have to offer the discount straight away. Instead, provide your customer with the clear price, and listen to their objections.
You may be able to offer a small discount or a limited-time offer, like a free training session, to improve your chances of a successful sale.
Step 5: Walk through the purchasing process together
Walk your customer through the purchasing process, and establish a date at which the purchase should be completed, so you can follow up and offer advice on how to get started. You may also be able to hand your customer directly over to the team responsible for taking payments.
Closing call Tips
Closing calls can be fragile things. Sometimes, your customer will be ready to convert instantly, while other times, they may decide they don’t want to purchase during the course of the call. When managing your closing call:
Be clear, transparent and open: Make sure you state the purpose of the call, without being overly blunt. Highlight that the purpose is to finish the transaction as soon as possible.
Remember to show value: Constantly draw attention to the benefits of the purchase for your customer, and what they could miss out on if they don’t convert.
Introduce everyone: You should already have a rapport with your customer, but you may introduce legal professionals or other members of your team.
Minimize small talk: Although small talk is helpful for rapport, you don’t want to get too far into a conversation. Try to get straight to the point, and let your customer know you’re saving them time by doing so.
Know your prospect: Take as much information as you can about the prospect into the call so you can personalize the conversation.
Make the Most of your Closing Calls
Closing calls can be daunting, but they’re an essential part of a successful sales process. If you follow the tips above and go in with plenty of information to handle objections and convert your target customer, you’ll be on the way to higher profits in no time.