6 Key Elements of Closing The Sales - Part 2

In our previous message, we discussed how closing a deal is the culmination of events over time, not the answer to a magical, well-placed "Are you ready to buy?" question. Six elements must be present before a sale occurs. The order does not matter, nor does it matter whether you proactively do something to close or your customer unwittingly does it for you.

They need to happen for a sale to occur.

The six key elements of closing a sale are:

1. Your solution has to address the relevant specific needs of the customer.
2. Prospect accepts your value proposition.
3. The economic buyer is engaged and in favor of your solution.
4. A consensus must exist among the key players within the customer's organization.
5. The customer must understand your solution.
6. Your customers can visualize your solution, and they like what they see.

We covered the first three in our previous message last Monday, so let's look at the final three this time.

A consensus must exist among the key players within the customer's organization. Although we say that the economic buyer has the power to say yes without permission, this person usually seeks the input of others. Therefore, you must find out who these influencers are and have them on board early. If not, you stand a significant chance of having your sale delayed at best and lost at worst. So, what can you do? Ask questions about their buying process. Learn about the political process in their organization. Who influences whom? Find out who else is involved. Understand what their roles are and how your solution impacts them. Answer them: "What's in it for me?" Demonstrate this at every level throughout the organization. Check for understanding, commitment, and buy-in.

Everyone in the organization must understand your solution and validate its importance. Therefore, you must be at the top of their priority list. The more people who understand how your solution benefits them personally, the better your chance of becoming the top priority. Be sure they know how your solution impacts prospects on their terms. For example, you may offer an incredible return on investment over three years. However, if the customer is worried about cash flow over the next three months, your presentation will miss the mark if you get a chance to deliver it.

The final component to closing a sale is that prospects visualize themselves benefiting from your solution. Car dealers know this all too well. That's why they have you test-drive the car. That way, the prospect starts to paint that picture. In sales, you are an artist! Your job is to paint a vivid picture for your prospects so they see themselves using and benefiting from your solution. Be sure to work this into the dialog. Without it, your message will lack enthusiasm and passion. People decide to buy or not based on emotion. Then, they back it up with facts and justification.