The challenge of closing can be daunting, especially during tight times. Clients are reluctant to close deals and the decision making process has become 22% longer (SiriusDecisions) and typically there are three more decision makers participating in the buying process, meaning we have to work harder to close that deal. We often feel if we push too hard we may annoy the client but at the same time being too timid may let that deal slip away.
Closing a deal is simply the process of helping people get what they really want, by facilitating compromises without sacrificing the basic goals of either/any party. Deals that are forced, lopsided or negotiated in bad faith rarely stand up over time – in any market conditions.
The US recruitment training guru Bill Radin said: “I learned long ago the limitations of “persuasion” as a means of closing. To me, closing is all about the process of qualifying early and testing the strength of your deal through a series of trial closes. Questions like, “Any new developments?” or “Is this the type of job (or candidate) that looks good to you?” are designed to keep you up-to-date and confirm your assessment of needs. In some cases, the answers might surprise you – and may serve to expose inconsistencies that threaten the success of your deal.”
It is worth remembering, that although the market is making closing more of a challenge, staying calm, preparing for the close from the beginning (of the A to Z process), planning and preparing every step of the way and trial closing as you go (to flush out potential deal breakers early) is still the best technique to close those deals – and keep them closed!