In this article:
- Tom Hopkins and the Sales Acceleration Summit
Tom Hopkins’ 6 Powerhouse Closing Statement and Closing Strategies
Closing Strategy Definition: A closing strategy is a technique or approach that salespeople make when they want to seal a deal with a customer.
Tom Hopkins and the Sales Acceleration Summit
At InsideSales.com’s Sales Acceleration Summit, the world’s largest online sales summit, Hopkins shared simple strategies in his talk. These are strategies that sales professionals should follow in order to close more deals and build a more successful business.
1. Work on Yourself
One of the most important things you can do to close more deals is to be a people person. Work on becoming more likable, energetic, and trustworthy.
If people find you personable, they’ll want to listen and buy from you. Thus, you should work on your approach or sales persona.
Your biggest tool when closing a deal isn’t a closing statement. It’s you.
Therefore, you should always try and improve and work on yourself as much as possible. There’s still an opportunity to grow, so take these opportunities if it’s presented.
2. People Buy Emotionally
Too many salespeople try to sell their products and services based entirely on logical arguments, such as money-saving benefits. While money is essential, you need to understand what is emotionally driving your prospects and address that.
The first thing to remember is that man is a creature of emotion. Instead of looking purely into reason and evidence, you should tap into emotions as well.
This closing strategy of Tom Hopkins is backed up by evidence in a study that states that people’s purchasing decisions are emotional.
Some will argue that people don’t buy through pure emotion, and that’s true as well. Again, according to the study, people do buy emotionally, but they justify their decision through facts and logic.
3. Learn the Power of Empathy
Speaking of emotion, empathy and emotional selling go hand-in-hand. Hence, salespeople need to develop empathy for their prospects.
They need to put themselves in their shoes. After all, prospects care more about feeling like they’re being understood than understanding what’s being sold.
Empathy selling is the ability to put yourself in the shoes of your prospects. When you try empathy selling, you better understand your prospect’s story.
At the same time, you can better explain how their mind works.
4. Turn “No” into “Yes”
Just because a prospect might say “no” doesn’t mean it’s game over. Reliable sales professionals know how to transform a “no” into a “yes.”
In the case of a “no,” circumvent that argument with this closing statement/strategy. Remember this simple acronym:
- The “Y” in “yes” stands for you. You are the product or service, and if you can sell yourself, you can sell anything.
- The “E” stands for excited and enthusiastic. Enthusiasm can drive a sale more than product knowledge.
- The “S” stands for a sincere desire to serve. Be truely eager to help and take care of your prospects.
By remembering the “YES” acronym, you can better judge whether a “no” is a dead-end or an opportunity for you.
5. Understand the Root of “No”
Another important aspect of closing a sale is understanding the typical reasons someone might say “no.” That way, you can anticipate what someone might say and strengthen your pitch.
- Lingering questions: There can’t be any confusion. If your prospects don’t see things clearly, they put off making decisions.
- Inadequate explanation of benefits: Different buyers need different amounts of info. You need to be flexible and clearly explain how your product or service will benefit them.
- Additional discovery as required: Your prospects might not always be upfront in voicing their questions or concerns. Investigate further to find what’s unclear.
- A misstep in qualification: Not all products are right for everyone. Go back to qualifying steps and present the right solution for the buyer’s situation.
- Unrevealed questions or objections: They haven’t told you everything about their needs, and you need to find out more.
- Timing: Buyers know how to slow down the sales process and delay decision making. In such cases, you need to become a follow-up specialist.
- Not you: You can’t please everyone. If your personality is hurting your sales, work on becoming more likable in order to build trust, and reduce sales resistance.
6. Be Proud to Represent Your Company
Prospects can tell pretty quickly whether or not you believe in what you’re selling. They can also determine how you feel toward your employer.
If you can take a moment to express your pride in representing a particular brand, your prospects will notice.
Besides, if you don’t like the company you’re representing, it stands to reason that people won’t trust that company. It’ll be tough to prove that your products are worth buying if you don’t want to sell them in the first place.
A strong belief and pride in your company is a strong defense against rebuttals from prospects themselves.
You can watch Tom’s full presentation, or any of our other sales summit speakers, on-demand by registering today.
Basically, it’s about understanding and bettering yourself and your approach. Additionally, it’s also about understanding the reason behind customer actions.
When you take these approaches, your closing statement will matter less. Overall, the opportunity to close a deal will become more natural for you.
As long as you do the work and follow these tips we heard on closing strategies, sealing the deal will be less of a trial for you. Good luck!
Which one of these closing strategies have you tried out? Let us know in the comments section below!
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Editor’s Note: This post was originally published on March 21, 2016, and has been updated for quality and relevancy.