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Is there a foolproof formula for turning prospects into clients and closing more sales? How do you master the art of closing sales for your business? You see, in any sales conversation, any sales situation, there are three results that you can get out of it.
Let’s say you’ve got your prospect on the phone. They have visited your website, watched your webinar, taken one of your courses, or bought one or more of your products before. They are familiar with your brand and what products or services you offer.
It’s important that your prospect be familiar with who you are and what you do; otherwise, it will be much harder to get a close. Assuming that your prospect has gone down a funnel and isn’t new to what you do, then you get on a call with that person. With each call, there are three possible results. Mastering the ability to get these results is what will make you a master closer.
Watch this video on the art of closing sales.
The Three Results You Get From A Prospect
The first result that you can get out of the sales conversation is a yes. And that’s ideal, because you close the sale and make the commission. Now you can help the prospect solve a problem with your product or service. You’ve made it rain.
And the second outcome you can get out of any sales conversation is a no. It’s perfectly fine to get a no, because then you know you don’t need to waste your time. You can move on to the next prospect. Remember the SW formula. Some Will, Some Won’t, So What, someone is waiting. Someone is waiting for you to offer your product and service to them.
Now the third result that you can get out of any sales conversation is a lesson. Now what do I mean by a lesson? That is when you know that you’re probably not going to close the deal, and that’s okay. You’re not attached to the sale.
But instead of just getting off the phone, you’re going to have a lesson. So even if you know you’re not going to get that sale, don’t get off the phone yet, because as a sales professional, as a closer, it is not over until we say it’s over.
You don’t let the prospect reject you, you reject your prospect. So if you know you’re not going to close the sale, tell the prospect, “Before I get off the phone, exactly what are you going to do about this problem?” Now you go back to the need.
You can have some fun by testing out your new line. You could test out a few different scripts. Just treat it almost like a role play knowing that you will not get a sale. And that’s perfectly okay.
Sometimes what happens is when you’re not attached, you’re just having fun and getting a lesson, it might turn into a yes. What you don’t want is somewhere in between.
You see, when you’re talking with a prospect on the phone, you want a YES! client. Now what do I mean by a YES! client? It means it’s the perfect prospect for you and it’s someone that you want to help.
Or you want a NO! prospect. With those prospects, you never want to work with them. They are the stuff that nightmares are made of. You don’t want to turn these prospects into clients. They will nickel and dime you before you even start working together. It’s a strong NO, because it’s not a good fit.
So you want a definite yes or no, but not somewhere in the middle. Between the yes and the no is the place worse than nightmares. Somewhere in the middle, in between “maybe”, are prospects that are curious but not committed. You do not want to turn these prospects into clients.
Selling High Ticket
When you are selling high ticket items, when you are asking for a lot of money, it’s a bigger transaction size. You are asking for $2,000 or more for your product or service. In this case, sometimes, but not all the time, you might want to slow down the transaction or sales process.
Your prospect might say, “I’m ready to do business right now.” They want to hire you, but you might want to take a step back. You want to slow things down so they are somewhere in the middle, not quite a yes or a no.
Tell them, “Here’s how I work with my clients. Before I take on any new client, I have these three criteria.” And you list out all the criteria.
Make it clear what you’re looking for in a client, and ask, “Is that you? Does that make sense? Are you comfortable with these terms? If you’re not, that’s okay, it’s perfectly okay to say no to me. We can slow things down, we can stop here, and you and I don’t have to do business.”
And you slow things down. From there, you turn them from an interested or just curious client, somewhere in the middle, into a definite yes. You want them saying, “Yep, this is exactly what I want, this is exactly what I need.”
When you know you’re going to do business together, then talk about money.
Final Thoughts On How To Turn Prospects Into Clients
When it comes to closing sales conversations, you can master the art of closing deals by understanding that they will have three results.
You can get a yes, a no, or a lesson from the prospect. Ideally you want a yes, but a no is also good if it means you avoid working with a nightmare client. The prospect might not be interested in buying. And you don’t want to turn all prospects into clients.
If that’s the case, you can look at it as a role play opportunity and practice your lines. You might even get a yes in the end. When it comes to selling high ticket, it might take more time to close the sale but you want the prospect to be committed to working with you.
Are you looking to double your close rates for sales? Click on this link to watch my masterclass and learn how you can increase your close rates.