Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In most businesses, there is some sort deal or transaction that must be agreed upon by multiple parties. Closing deals however is not a skill that understood by everyone. The following contributed post is entitled, Effective Tips For Closing Your Deals Faster.
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For almost any business owner, your ability to close sales as quickly as possible is of immense importance. That is because the modern consumer is increasingly becoming more informed and knowledgeable about products and services on the market. Consumers’ purchasing decisions change constantly, so you need a reliable sales strategy to persuade customers and close deals effectively. So, does it take you too long to close sales? Here are a few tips you can use to not only close sales faster and consistently.
1. Know the decision-maker
Your ability to identify the decision-maker is the first step to closing a deal quickly. In many cases, the decision-makers don’t readily present themselves. Instead, they send others to scout your business to find out all they can learn about your company and your sales pitch. In this case, you need to do two things. One, find out all you can about the decision-maker to understand them. Second, create a sales pitch custom-made to suit their preferences.
2. Be genuine
Nobody wants to make a deal with someone they consider unauthentic or an imitation. That’s just how a sales pitch can make you sound – as if you’re reading from a script you copied from countless other pitches. Instead of risking sounding like anyone else, create a pitch that speaks directly to the needs of your potential client. Do your best to engage them in a friendly and personal manner while remaining as professional as you can. The point here is to make them believe that you genuinely care about them or their business, and you’ve tailored the perfect solution just for them.
3. Run your ideas by the client before your proposal
One thing that rarely works is presenting a proposal similar to your potential target client has previously rejected. Before you submit a formal sales proposal, it makes sense to first speak with your target client and find out what their thoughts are while you’re still developing your sales pitch. Find what they prefer to have, what they need, what they’d rather avoid, and why. This way, you can finetune your proposal in a way that’ll deliver the result they want and give them a high ROI.
4. Know your competition
You want your target customer to believe that you have the better deal, which means knowing what your competitors offer (and presenting a better offer). Find out what your competition doesn’t provide or what extra value you bring and include that in your sales pitch. Most potential clients compare competing products, so be sure you’re giving yourself a competitive advantage.
5. Use technology to your advantage
In this modern age of doing business, nothing should come between you and a chance to close a deal on time, so use tech solutions to your advantage. For example, you can use an app like Claris Filemaker pro to help you and your sales team close sales deals faster by uploading signed contracts and other important files no matter the destination and on the go.
