What Does Closing Mean In Sales?

Nothing is more important than revenue to a business. Active profit generation builds a stronger organization, employs and maintains a workforce and helps improve the product through research investment. However, the secret code to closing sales deals, the one activity that generates this profit, is still a mystery to many salesmen.

Closing a sale is considered to be the most important step of the overall sales process. A sale is closed when both the buyer and the seller of a product or service agree to the particular business transaction conditions. However, studies have shown that 36% of salespeople felt that closing a sale was the most challenging part of the sales process. Nonetheless, your business can use numerous strategies and tactics to close a sales transaction successfully.

Strategies you can use to close a sale

1. Identify the decision-maker

Not every member of an organization can make buying decisions for their business. It is fruitless to pursue and convince people who have no real decision-making power. Once you have identified the primary decision-maker, you can develop and follow a more personalized sales approach to better suit their specific needs and requirements.

2. Qualify the prospects

Qualifying a prospect means determining and ensuring if a prospective customer needs your product, is in a feasible location and can pay for it. By first qualifying your prospective customers based on a predetermined set of criteria, you can determine if a sales pitch is worth the time and effort required to deliver it. Studies have shown that only 50% of prospects are a good fit for the product that a company sells.

Planet Crust’s CRM Suite comes with a lead-management module that allows you to record all the sales you have closed as well as active leads, accounts and opportunities. The software also allows you to enter which leads are qualifying in the database.

3. Know your product

A good salesperson should know all the ins and outs of the good or service that they are trying to sell before attempting to pitch it to a customer. By first comprehending and understanding all the features of the commodity as well as the numerous benefits it can bring to a potential customer, it enables you to better sell the product in question.

It is a smart decision for the sales agent to carry battle cards while giving a sales pitch. Planet Crust’s low-code solution offers various tools that allow you to create employee-friendly cards that contain all the information about the product and the competition. They are an excellent sales tool for agents who want to answer client questions without having to double-check information during a presentation.

4. Pitch the benefit, not the product

Customers barely care about features and upgrades. They care about what tangible benefits those features bring to them. The most accomplished salespeople know this, and instead of selling a product, they sell the feeling of owning it, the realisation of a dream, and the fulfilment of a vision. Simply listing the features and upgrades of your product will most likely not result in a successful sales transaction, but listing positive impacts your product will.

5. Be respectful yet resilient

Every salesperson should be prepared to handle minor objections during the sales process. Therefore, being able to anticipate these objections without rushing or offending the customer is vital. Instead of pressuring a customer into purchasing a product that they don’t want, you should convince them that they need the product by creating a sense of urgency.

Planet Crust’s CRM solution

With the open-source CRM solution by Planet Crust, you can efficiently and accurately track customer data and information. It provides numerous customizable modules that you can use to tailor the platform according to your own needs. They help your business qualify leads, manage accounts and successfully close more business transactions. So, get a free trial of the software solution that pioneers the future of CRM and sales technology.