Knowing Best Time To Close A Sale
It is a problem for most of the raw and new salespeople to decide when is the right time to close a sale as compared to the experienced salespeople.
Answering the following questions should be sought for deciding the time to close a sale.
- When do the buyers appear ready to buy?
- What psychological moments would be most appropriate to close a sale?
- How to secure order if an opportunity is bypassed?
- How to know that the customer is ready to buy?
- How many attempts should be made to close a sale?
The answer to all these questions could be summed up in a statement that the best time to close a sale is would be the time when the buyer is ready to pay for the product you offered. In addition, the best opportunities and time for closing a sale can appear in the following different times,
At the Beginning of Interview
Most buyers decide to buy after they understand the benefits product will provide them. For some buyers, this situation may occur at the beginning of the sales interview. But buyers do not reach this point till the seller helps them understand their preposition.
In the course of talks, the seller must be intelligent enough to study the version, language, facial expressions of the prospects to assess whether they are ready to buy or not. When they appear ready, is the time the salesperson should close the sale.
Early in the Presentation
Some buyers appear ready to buy only after some steps of the presentation process are taken. These would be the early stages of the presentation. At the beginning interview, buyers are not convinced of the product benefits, and they want to be clearer about these benefits early in the presentation.
That is why it is said that an experienced salesperson should attempt to close the deal as many times as good judgment dictates during the presentation.
After a Demonstration
Especially regarding technical products and products that require demonstration, mere interviews, and sales stories will not work to make the buyers ready to buy or pay for the product.
The buyers’ problems are removed only when they see the demonstration. The buyers would be ready to buy only after seeing how well the product performs.
After an Objection is Countered
As discussed earlier, the prospects may have various objections-price objections, product objections, company objections, service objections, objections to sales person’s behavior, etc. Sometimes, a single prospect may present various objections.
In this situation, the prospects will never be ready to buy unless the salesperson counters the objections satisfactorily. Satisfactory answers depend upon an appropriate analysis of the cause for the object and appropriate techniques to be used by the salesperson.
After a Series of Commitments
A commitment is a serious promise that the salesperson makes in order to gain the customers’ faith. The customers believe the salesperson due to the commitments made to satisfy their concerns. Many buyers, instead of believing in descriptive presentation, may appear ready to buy only if the seller makes a series of commitments.
After the First Complete Presentation
Some buyers are not convinced until they listen or observe the first presentation completely. They try to understand all the information that a salesperson wants to convey about the product and its benefits.
After the first complete presentation, if the buyers are convinced and appear to be ready to buy; there is no need for further presentation for closing a sale.
After Several Alternatives for Closing
When some buyers do not appear ready to buy despite the first attempt at closing the presentation, the seller may use several presentations in support of the first presentation. Presentations should be prolonged this way only if the seller expects to close a substantial sale.
In Nepal, most sellers at Supermarkets, Arcades, and Complexes use several alternatives for closing their presentations. And, generally, sellers are found successful in closing their sales.
After Several Calls
In case buyers say ‘No,’ a sale should not be presumed to be lost. A ‘No’ may mean ‘Not now’ or ‘I want more information. Similarly, it may mean ‘Don’t make me hurry’ or ‘I don’t understand.’ In other words, in such a situation, a customer’s ‘No’ becomes a challenge for the seller. It should lead the seller to search for the core reason.
As a result, he starts calling on the customer several times so that he can test the customer’s concern behind his objection. Ultimately, he may succeed to make the customers say “Yes”. The time when the customers say “Yes” is the best opportunity to close a sale.