Stop Selling, Start Closing: New Approach to Sales
Sales is a very incredible skill with limitless possibilities and great potential of earning. Sales is related to mostly each and every profession of the world like sales of real estate, sales of any software product, sales of clothing brand, sales of footwear, so it can be anything. In the world of sales, the traditional approach often involves pushing products or services on potential customers. In fact closing is one of the most thrilling skills and there is a huge difference between selling and closing.
The Difference Between Selling and Closing
| Feature | Selling | Closing |
| Focus | Informing and persuading the customer about the product or service | Securing the sale and converting the prospect into a customer |
| Action | Talking, explaining, and presenting the value proposition | Asking for the order or commitment |
| Goal | Building interest and desire for the product or service | Converting interest and desire into a purchase |
| Timing | Occurs before the final decision | The final stage of the sales process |
defines selling as the act of pushing products or services on potential customers. This approach often involves high-pressure tactics and can be off-putting to prospects. In contrast, closing focuses on guiding prospects towards a decision. It involves building trust, understanding their needs, and presenting them with a compelling offer.
The Power of “Value in Advance”
One of the powerful closing strategies is the use of “value in advance.” technique which we are going to discuss here. This involves providing significant value to potential customers before asking for a sale. By offering valuable content, such as educational videos, blog posts, or webinars, businesses can build trust and credibility. Remember sales is all about building trust and credibility. When the time comes to make an offer, the prospect is more likely to say yes, as they’ve already experienced the value the business provides. So, briefly, we can say that the more value you add in the prospects, the more they will be attracted towards your sales.
The 10x Value Rule
To maximize the impact of value in advance, “10x value rule.” This principle states that businesses should strive to deliver ten times more value than the price of their product or service. Your product or service must have to exceed the expectations of customers . By exceeding expectations, businesses can create a compelling offer that’s hard to resist. This is the core concept and rule of customer retention.
Seek win-win solutions
When closing a B2B sales deal, it’s better to create a win-win situation. It means creating such a situation where both parties feel satisfied and confident in the agreement and find such solutions that benefit both parties involved. Consider the
Remember, flexibility and a willingness to compromise can open up the door of successful negotiations. However, it’s equally important to establish clear boundaries and know your limits. A fair and mutually beneficial agreement not only closes the deal but also lays the groundwork for a long-lasting and profitable business relationship.
Important Points to be Considered
- Focus on Closing: Shift your focus from selling to closing deals.
- Provide Value in Advance: Offer valuable content to build trust and credibility.
- Apply the 10x Value Rule: Deliver ten times more value than the price.
- Build Relationships: Build strong relationships with prospects and customers.
- Be Patient: Effective closing takes time and effort.
By implementing these strategies, businesses can improve their sales performance and achieve long-term success.
Few Additional Tips for Effective Closing
Ask Questions: Get to know your prospects’ needs and pain points.
Listen Actively: Pay attention to what your prospects are saying. Active listening is the key. As a good salesman,you have to listen more than to speak.
Be Confident: Self-belief is the real power. Believe in your product or service.
Handle Objections: Rejections are a part of sales. Address any concerns your prospects may have.
Close with a Strong Call to Action: Tell your prospects exactly what you want them to do next.
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Conclusion
Selling is about pushing products or services, while closing is about guiding prospects towards a decision. This blog educates you the difference between selling and closing and encourages you to become a good closer. If you are a salesman in any field, we hope you find this comprehensive guide helpful and value adding.