How to Close a Deal, The Basics of Closing a Deal

Summary

In this HubSpot video, Pete teaches essential sales closing techniques to help viewers successfully conclude deals. Key strategies include the question close to address objections, the now or never close to create urgency, the summary close to visualize benefits, the sharp angle close for counter-offers, the assumptive close based on positive thinking, and the takeaway close for price negotiations. By mastering these methods, salespeople can effectively guide prospects towards a decision, enhancing their closing rate.

Takeaways

• 🔍 Start with the right mindset: Effective salespeople begin closing a sale from the first interaction, focusing on understanding and addressing the prospect's needs.
• 🗣️ Use the Question Close: This technique involves asking questions to identify and address any objections, allowing the prospect to voice concerns and the salesperson to provide more information.
• ⏰ Implement the Now or Never Close: Create urgency by offering time-sensitive deals or discounts to encourage immediate purchases.
• 📝 Employ the Summary Close: Reiterate the agreed-upon products or services, helping the prospect visualize the benefits and post-sale environment.
• 🔄 Utilize the Sharp Angle Close: When faced with a prospect's request for a price reduction or add-on, use this technique to agree to their request with the condition of closing the deal immediately.
• 💡 Apply the Assumptive Close: Assume from the start that the deal will close, focusing on the prospect's interest and needs to guide them through the sales process.
• 🚫 Consider the Takeaway Close: If the prospect is hesitant due to price, suggest removing a feature or service to lower the cost, which may lead them to prefer the original offer.
• 🤝 Build trust and value: Throughout the sales process, ensure that the prospect's needs are met and that the solution provided is valuable to them.
• 📈 Increase urgency: Techniques like the Now or Never Close help to create a sense of urgency, which can be a powerful motivator for prospects to make a decision.
• 📈 Lead to closure: Each closing technique is designed to guide the prospect towards making a decision and completing the sale.

Q & A

What is the main focus of the video by Pete from HubSpot?

The main focus of the video is to show some basic techniques for closing a deal in the sales process.

What is the importance of understanding the prospect's needs in the sales process?

Understanding the prospect's needs is crucial as it allows the salesperson to create a solution that meets those needs, which in turn reduces barriers to closure.

What is the 'question close' technique and how does it work?

The 'question close' technique involves asking the prospect questions to pique their interest and address any objections, allowing the salesperson to provide more information and guide the conversation towards closure.

How does the 'now or never close' technique create urgency in a sale?

The 'now or never close' technique creates a sense of urgency by offering limited-time discounts or special deals that encourage immediate purchases.

What is the purpose of the 'summary close' technique?

The 'summary close' technique is used to reiterate the agreed-upon products or services, helping the prospect visualize the post-sale benefits and providing a final push towards closure.

In what situation would the 'sharp angle close' technique be used?

The 'sharp angle close' technique is used when a prospect asks for a price reduction or add-on, and it involves agreeing to their request with the condition that they sign the contract immediately.

How does the 'assumptive close' technique leverage positive thinking?

The 'assumptive close' technique assumes that the deal will be closed from the start, using positive thinking and awareness of the prospect's needs to guide them through the sales process.

What is the strategy behind the 'takeaway close' technique?

The 'takeaway close' technique involves suggesting the removal of a feature or service to lower the price, focusing the prospect's attention on the value of the original, fully-featured offer.

What should a salesperson do if they are unsure about using a 'sharp angle close'?

If a salesperson is unsure about using a 'sharp angle close', they should consult with their sales manager for guidance on whether to use this technique.

How can viewers get additional help on sales closing techniques after watching the video?

Viewers can get additional help by clicking on the link provided in the video description to learn more about sales closing techniques.

What is the call-to-action for viewers who enjoyed the video?

Viewers who enjoyed the video are encouraged to like it, subscribe to the channel, and post their questions or suggestions in the comments section.

Outlines

00:00

🔨 Introduction to Sales Closing Techniques

Pete from HubSpot introduces a video tutorial on sales closing techniques. He encourages viewers to like, subscribe, and comment for any questions or suggestions. The video aims to teach viewers how to effectively close a deal by using proven techniques and emphasizing the importance of understanding the prospect's needs throughout the sales process.

Keywords

💡Closing Techniques

Closing techniques refer to the strategies used by salespeople to finalize a sale. In the video, these techniques are the central theme, with six different methods being discussed to help salespeople effectively close deals. The video emphasizes that these techniques should be tailored to the sales process and the prospect's needs, aiming to create a solution that meets those needs.

💡Sales Process

The sales process is the series of steps involved in moving a prospect from initial contact to a closed sale. The video script mentions that throughout this process, the goal is to understand the prospect's needs and create a solution that meets those needs. The sales process is foundational to the video's message, as it sets the stage for when and how to apply the closing techniques.

💡Question Close

The question close is one of the six closing techniques highlighted in the video. It involves asking the prospect questions that allow them to voice any objections or concerns, which the salesperson can then address. For instance, the video suggests asking, 'Does this offering solve your problem?' This technique is used to engage the prospect and to uncover any final barriers to closing the sale.

💡Now or Never Close

The now or never close is a technique that creates a sense of urgency, encouraging immediate action from the prospect. The video gives examples such as offering a discount for signing up within a certain timeframe. This technique is effective because it capitalizes on the prospect's desire to take advantage of a limited-time offer, which can prompt a quicker decision to purchase.

💡Summary Close

The summary close technique involves reiterating the benefits and features of the product or service to the customer, helping them visualize the post-sale environment. In the video, an example is given where the salesperson summarizes the agreed-upon bicycle, warranty, tires, and delivery service, then asks for the best time to deliver the bike. This technique is used to reinforce the value of the offering and to provide a gentle nudge towards finalizing the purchase.

💡Sharp Angle Close

The sharp angle close is a technique used when a prospect makes a request for a price reduction or additional services. The video explains that this technique involves agreeing to the prospect's request but with a condition, such as closing the deal immediately. For example, if a prospect asks for extra onboarding at a discount, the salesperson might agree but ask for the contract to be signed that day. This technique is effective because it can catch the prospect off guard and lead to a quick decision.

💡Assumptive Close

The assumptive close is based on the salesperson's assumption that the sale will be closed from the outset. The video suggests that by assuming good intent and being aware of the prospect's needs, the salesperson can guide them through the sales process. This technique involves asking questions that assume the prospect is ready to move forward, such as 'Does this align with your expectations?' It helps to build momentum towards closing the deal.

💡Takeaway Close

The takeaway close is a technique used when a prospect is hesitant about the price. The video describes it as suggesting the removal of a feature or service to lower the price, which can make the prospect more likely to accept the original price. This technique leverages the prospect's focus on the features they value, making them more willing to pay the full price to retain those features.

💡Urgency

Urgency in sales is the sense of immediate action or decision-making, often created through limited-time offers or special deals. The video mentions urgency as a key element in techniques like the 'now or never close,' where the prospect is encouraged to act quickly to secure a benefit. Creating urgency can be a powerful motivator for prospects who might otherwise delay their decision.

💡Prospect

A prospect, in the context of the video, refers to a potential customer who is being considered for a sale. The video emphasizes understanding the prospect's needs and creating a solution that meets those needs as a crucial part of the sales process. The term is used throughout the script to highlight the importance of focusing on the individual needs and objections of each potential customer.

💡Salesperson

A salesperson, as discussed in the video, is an individual involved in the sales process who aims to close deals by using various closing techniques. The video provides guidance on how salespeople can effectively use these techniques to increase the likelihood of closing a sale. The term is central to the video's narrative, as it is the salesperson's role to navigate the sales process and apply the closing techniques discussed.

Highlights

Introduction to closing a deal with the right sales techniques

The importance of understanding the prospect's needs and creating a solution

The concept of closing as an inclusive process of all agreements made

Technique 1: The Question Close - using questions to identify and address objections

Technique 2: The Now or Never Close - creating urgency with time-limited offers

Technique 3: The Summary Close - reiterating the agreed-upon products or services

Technique 4: The Sharp Angle Close - countering requests with a closing condition

Technique 5: The Assumptive Close - assuming the deal will close and guiding the prospect

Technique 6: The Takeaway Close - suggesting a reduced offer to highlight the original value

The role of positive thinking in the Assumptive Close technique

The psychological impact of urgency in the Now or Never Close

How the Summary Close helps visualize the post-sale environment

The strategic use of counter-offers in the Sharp Angle Close

The importance of addressing objections early in the Question Close

Encouraging immediate purchase with additional benefits in the Now or Never Close

The psychological effect of removing features in the Takeaway Close

Call to action for additional help and resources in the video description

Invitation for viewers to like, subscribe, and comment on their experiences

Transcripts

[MUSIC PLAYING]

Hi I'm Pete from HubSpot.

And today, I'm going to show you some of the basics to closing

a deal.

If you enjoy this video, don't forget

to like it and subscribe to our channel.

Post any questions or suggestions

you have in the comments below.

Let's get started.

You're ready to close a deal.

At this stage of the sales process,

you need to use the right sales closing techniques

to seal the deal.

Today, we'll cover a few proven closing techniques

to help you up your game.

One important thing to keep in mind with any closing technique

is that the idea of closing itself

needs to include any agreements you've

secured during the entire sales process.

Your goal throughout this process

is to understand the prospect's needs

and create a solution that meets their needs.

If you've achieved these two requirements,

there will be less of a barrier to closure.

These six closing techniques can help

you increase urgency and lead an engaged prospect to the finish

line faster.

Let's jump in.

Number one, the question close.

Effective salespeople focus on closing a sale as soon

as a conversation with a prospect begins.

Through a series of questions, they

pique the client's interest and eliminate every objection

to purchase.

Closing the sale with a question lets

the person identify and address any objections

the prospect might have.

For example, you could ask, in your opinion,

does this offering solve your problem?

Or is there any reason why we can't move forward

with this deal?

Both of these questions allow the prospect

to voice their questions or objections.

And it provides the salesperson with the opportunity

to provide more information.

Number two, the now or never close.

With the now or never close, the salesperson

makes an offer that often leads to an immediate purchase.

It's used after they have communicated

the value of their offering.

They might say, we're offering a 30% discount for customers

who sign up this week, or this is

the last one we have at this price,

or we've got a 20% discount just for customers

who sign up today.

Why is this technique successful?

It creates a sense of urgency.

And it offers additional benefits that

can encourage prospects to buy.

Number three, the summary close.

This close is used to reiterate the products

or services the customer will receive when they purchase.

For example, I see we've agreed upon the red carbon fiber

bicycle, the 15-year warranty, an extra pair of tires,

and our free delivery service.

When's the best time to deliver the bike?

You're showing the prospect the entire solution.

Plus, they'll be able to visualize

the post-sale environment where they're using the product

and realizing the benefits.

The summary close might be the last push

you need to close the deal.

Number four, the sharp angle close.

In some cases, a prospect might ask for a price reduction

or an add-on.

Usually, it's because they believe

they have the upper hand in the situation.

During these situations, ask your sales manager

if you can use a sharp angle close technique.

Let's say a prospect asks for an additional week of onboarding

at a discounted price.

The salesperson responds with, yes, but if I provide you

with additional onboarding, will you sign the contract today?

The sharp angle close will likely catch the prospect

off guard, one, because you've agreed

to their request, and two, because you

proposed closing today.

Number five, the assumptive close.

The assumptive close relies on the power of positive thinking.

The salesperson assumes from the beginning of the sales process

that they'll close the deal.

Be aware of the prospect's interest, engagement,

and objections throughout the process.

For example, you could ask after a call, meeting,

or demo, does this align with your expectations?

Or does this solution fit the needs of your company?

By assuming good intent and being aware

of your prospect and their needs,

you'll be able to guide them through the sales process.

Number six, the takeaway close.

If the prospect is hesitant about the price,

suggest removing a feature or service to lower the price.

It's likely their focus will be on what

you removed rather than the discounted solution you

offered.

As a result, they'll be more willing to go

with the original price because it includes all the features

they're looking for.

And there you have it.

You have the tools you need to master these closing

techniques.

Need some additional help?

Click on the link in the description to learn more.

Thanks for watching.

If you enjoyed this video, be sure to like it and subscribe.

Let me know how you're doing in the comments below.