How To Close The Deal

Tomorrow, I'm speaking to a few hundred business owners & sales people about "The Now Effect." 

In their business, the sales cycle is long and most prospects never make the leap from 'interested' to 'closed.'  They are hearing device/solutions industry, and many of their prospects either feel like they can get along without them OR have a stigma about wearing them.  

My advice to them is based on quite a bit of research, including visiting with several of these hearing device professionals in their working environment.  I've looked at social media conversations about hearing devices and hard data that tracks marketing and promotions against actual sales. 

My recommendations to them will likely be of use to you in your business too, so I'll share them in bullet point fashion.  To close the deal you need to: 

1. Establish High Perceived Value.  Beyond the features & benefits of your product, you need to bring out the pain in the prospect's present condition.  You need to demonstrate, with stories as your ultimate tool, how the pain will only get worse without a solution.  

2. Create a sense of urgency and a call to action.  Leverage the 25/200 rules of sales by eliminating the 'need to think about this' objection.  Limited discounts/bonuses work, the data screams volumes.  You can play around with pricing, but that's a shortcut which can impact your profits and commoditize whatever you are selling.  A better way to create urgency is to get other people that influence the prospect to feel the pain too - and join you in a campaign to put it out TODAY.  (Note: No price break will overcome a lack of value or stigmas about buying your product.) 

3. Make it stupid-easy to complete the deal and install the solution.  From purchase to product delivery, take steps out of the process and constantly review how you are doing.  Ask your customers about their User Experience as they bought and received your product, then iterate.  Pore over any data (eg., online) that helps you identify the drop off rate of prospects that raised their hand, yet didn't finsih the sale. 

 

Comments

[Pandora Bracelets charms]

I'm interested in such offer,The sound quality in these podcasts is really poor. I feel bad about complaining about something that is free, but I think it is important.