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1-Page Summary of The Lost Art of Closing
“Always” or “Never” Be Closing?
Salespeople have a difficult time knowing how to close sales. Some experts say that you should always be closing, while others say that you should never be closing. What are salespeople supposed to do with such conflicting advice? In fact, even experienced professionals give out bad advice because they don’t know what they’re talking about.
Pushy salespeople usually work the always-be-closing side of the street. They use manipulation to get customers to agree to commitments before they’ve gained their trust or delivered value, and without earning permission first.
Salespeople used to be in charge. They would pressure customers into buying their products, even if the customer had legitimate concerns. Nowadays, salespeople have to adjust because clients are in control of the selling process. Many salespeople who use this new strategy don’t try to close deals at all; they allow clients to take as much time as they need and never ask for an order.
The Power of Commitment
Salespeople don’t need to use tactics that are ineffective. Instead, they can try a new approach called “commitment gaining.” The salesperson will get commitments from the client that advance the sale in small steps rather than getting them to buy something immediately.
In this system, closing occurs in planned stages. The salesperson and the client move from one stage to the next together. The salesperson functions as a trusted adviser for the client during these steps. If any step is not met, it will slow down or stop the process of closing a deal altogether. However, if all steps are accomplished successfully, then there will be sustained relationships and successful closings.
The Proper Mind-Set
In addition to a good sales approach, you need the right mind-set. It’s made up of six elements: 1. Confidence—believe in yourself and your product or service; 2. Caring—focus on your clients’ needs, their companies, and them as people; 3. Passion for innovation—you must innovate constantly; 4. Initiative – take charge of situations by offering solutions instead of problems; 5. Vision – see what others don’t see because you’re so close to it that they can’t discern it clearly from where they stand; 6. Integrity– be honest with yourself about what works and what doesn’t work for both you and your client.”
“Persistence” is important when trying to gain sales commitments from clients. You need to help the client want and bring about the changes that your solution requires. Also, you should adjust what you say based on what they’re thinking, not just what you think.
Sales experts have long taught salespeople that they must overcome clients’ objections. Instead, embrace and resolve customers’ worries. Help your clients face their fears. All interactions between you and your client must center on the client instead of yourself.
“Control the Process and Control the Commitments”
The typical sales process involves targeting, qualifying and closing. Buyers have their own processes. This process isn’t formal except when you submit requests for proposals (RFPs). RFPs bring everything down to price, which is a bad bet for vendors and their salespeople. Successful selling calls for discussing value and seeking commitments. Such conversations don’t fit the RFP process well at all.
When you work with clients in a less-formal sales process, they may feel uncomfortable. They know something isn’t right and that they need to make a change, but aren’t sure what to do. This is where you come in as a salesperson—you must help them see the problem your solution can solve by transforming their discomfort into an issue worth solving.
