Ali Mayar is the CEO of Platinum Rapid Funding Group, a NY-based alternative funding company helping businesses access the capital they need to maintain and expand their operations. Mayar has built an impressive career in business and finance but shifted to alternative funding in 2012 after he saw how difficult it is for small enterprises to secure funding from traditional lenders.
Aside from providing ready access to stable funding through Platinum Rapid Funding, Mayar does not shy away from opportunities to share his expertise in finance and marketing to entrepreneurs. Here he shares a few tips on effective closing techniques.
6 Closing Techniques and Why They Work
Now or Never Close
This is the close you use if you want the customer to buy right away. However, the now or never close can only be effective if there is a good chance that the customer is already thinking about buying and just needs that final push. Scarcity can be an effective tool for getting customers to buy. You can frame it in the form of limited stocks or a price increase in the next few days so they will be tempted to buy right away.
The Columbo Close
Columbo was famous for his self-effacing, last-minute reveals of the guilty person’s identity in each episode. Similarly, this technique focuses on giving the most enticing part of the pitch just as the customer is about to walk away. It doesn’t hurt if you adopt Columbo’s unassuming and self-effacing style to keep the customer’s guard down.
The Assumptive Close
This technique requires a confident, presumptive stance that gives the customer the impression that you’re expecting him or her to buy. Some customers can get caught up in your confidence that they won’t think twice about handing you their credit card so you can ring up their purchase.
The Soft Close
The soft close uses clear statements of the benefits of the product as well as low-impact questions to determine the customer’s willingness to learn more. By creating a low-pressure environment, focusing on the benefits and getting the customer to volunteer information, you can effectively present the product’s benefits and how it meets their needs.
The Sharp Angle Close
The sharp angle close is handy if the customer feels like he has the upper hand. Be ready with an equal counter when the customer uses this on you. For example, if the customer asks for a 15% discount, you can agree but pair this with the condition that they need to sign the sales contract today.
The Backwards Close
Start by asking for referrals, not by actively selling anything. This puts customers at ease because they’re not being directly asked to buy something. This technique helps keep their guard down, making them more open to learning more about the product.
Closing techniques are essential if you want to succeed in sales. Don’t pass up any opportunity to put them into action so you can see how your closing skills improve over time.
Get more tips and insights on marketing, entrepreneurship, and business by visiting Ali Mayar’s website at www.alihabibmayar.com. You can also follow him on Facebook and Twitter for real-time updates.