Already got a list of qualified leads? All that’s left now is to close. But that’s easier said than done. You need a strategy. Something measurable, repeatable, and scalable.
This applies to both in-person and online sales. With most sales conducted online, SDRs have all the tools they need to create data-driven strategies for closing leads.
The question now is, which strategy is best suited for your business? To help you find an answer, let’s look at the five best practices for closing sales online this year.
5 Best Practices for Closing Sales Online
To help you close more sales consistently, follow these best practices and apply them in your next sales strategy.
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Use Sales Enablement Tools
Sales enablement tools equip your team with the right arsenal for closing sales. These come in the form of CRMs, sales funnel templates, or lead nurturing software.
Provide your team with the tools, resources, or systems to help them close deals consistently. Conduct training and one-on-one coaching, and find ways to encourage productivity.
Doing so enhances both the buyer and the seller’s experience. SDRs can handle objections better, combat burnout, and focus on revenue enablement.
Send an Official Quote
When leads show high buying intent, send an official quote. But even with high buying intent, there will always be leads that have objections to the price.
When this happens, ask your leads what they hope the price would’ve been. Compare your product to their current solution. Or, re-pitch your product and highlight tailored benefits.
Consider re-pitching from a financial perspective. Emphasize how your products can reduce costs and boost revenue. Explain how they can recoup their investment in X amount of time.
Be Clear With Your Intent to Close the Sale
After pitching your product and its benefits, be clear about closing the sale. Directly ask for a sale. Include a definitive call-to-action, present multiple payment options, or schedule a follow-up if the lead isn’t ready to buy.
Consider how you approach this too. You don’t want to be intrusive. Try phrasing your statements as close-ended questions that result in definitive answers. For example, ask “Would you like me to send over a detailed contract?” instead of “How do you feel about this?”
Learn How to Handle Objections
Salespeople face objections daily. It’s like the human mind is conditioned to say no to a sales pitch—which can make things even harder.
The best solution is to learn about your lead’s concerns and know how to address them. Here are the common objections salespeople can face:
- No budget for a new solution
- The product isn’t a good fit
- The lead you’re talking to has no authority
- Finding a solution isn’t a priority
- They already have a solution
If a lead doesn’t have the budget, offer flexible payment options. When they say the product isn’t a good fit, try presenting case studies from similar clients. Leads that say they don’t have authority?—Ask to be directed to the person who does.
There are multiple ways to handle objections. Once you do and the lead is closer to a conversion—it’s time to negotiate.
Start the Negotiation Process
After all objections have been addressed, start negotiating. This builds trust, presents miscommunication, and helps avoid further objections.
Never be too aggressive with your negotiation tactics. Don’t force leads into a sale. Instead, try out these negotiation strategies:
- Avoid ranges when discussing price: Don’t say we can give a 10-20% discount. Why would leads even consider 10 when 20 is already on the table?
- Don’t oversell: If leads still have objections, don’t oversell. Instead, try reducing features to lower costs or giving tailored payment plans.
- Emphasize losses over gains: Instead of saying, “We can boost revenue by 20%”, try, “We can reduce overhead by 20%.” Studies suggest people want to avoid losses rather than get gains.
Prerequisites for Closing Sales
Before applying these best practices, you must cover some sales prerequisites. These ensure the highest chance of conversions.
Qualifying leads is one of the most important steps in any sales process. Use qualification strategies like BANT, MEDDIC, and FAINT. These strategies can also be automated with the help of sales enablement tools.
Identify the Decision Makers
Imagine nurturing leads for weeks only to discover they have no buying authority. You won’t have this issue if you identify key decision-makers immediately. If you discover that a lead doesn’t have authority, ask to be directed to the person who is.
Standardize Objection Handling
Your team needs to have a standard operation procedure for objection handling. Sure, each lead is unique and has objections specific to their organization. But, standardizing the process provides an outline or foundation to work with, making objection handling easier.
Salespeople are constantly faced with objections. But that doesn’t mean you can’t turn a no into a yes. To consistently start closing sales online, remember these best practices:
- Utilize sales enablement tools. Provide your team with the proper training, resources, and incentives to improve overall sales performance.
- Send official quotes to gauge intent and handle objections to pricing at early stages.
- Don’t beat around the bush; be clear about closing a sale.
- Learn how to handle common objections.
- Transition from a salesperson to an advisor when negotiating.