The Lost Art of Closing Summary
5 min read ⌚
Winning the Ten Commitments That Drive Sales
Winning the Ten Commitments That Drive SalesIt’s said that a great product sells itself, and finding the right channels comes naturally.
Marketing efforts only add to the overall quality and provide the users with an amazing experience.
We try to present the key findings in a way that you’ll understand what it takes to close a sale.
Who Should Read “The Lost Art of Closing”? And Why?
It really is an art, or perhaps a skill crafted for special occasions. Anyway, it’s not something that can’t be learned or digested!
“The Lost Art of Closing” emphasizes the 10-step process for converting skeptical prospects into long-term collaborators.
It really is something you wouldn’t want to miss, especially if you are a salesperson in the making.
About Anthony Iannarino
Despite being a writer, Anthony Iannarino is also the founder of The Sales Blog.
He is also a part-time teacher at Capital University School of Management and Leadership.
“The Lost Art of Closing PDF Summary”
Let’s get this straight: Without these 10 commitments it’s literally impossible to close sales:
- The commitment for time – Breaking that ice requires psychological readiness, especially when it comes to scheduling a meeting. Experienced salespersons realize that e-mailing is not the best option for this endeavor. Instead, you should prefer a phone call to ask only for time, and don’t get into details about the product. Ask no more than three times and stick to what’s been agreed prior to the meeting.
- The commitment to exploring – Salespersons love the image of a business-person and can’t stand being labeled as pushy; interested in nothing other than commission. Your job is to make the client more comfortable with your presence and gradually reduce the aversion towards change. In these first contacts, you should avoid pitching about the product and rather focus on the threats of remaining rigid in a fast-paced environment.
- The commitment to change – Why would anyone be interested in buying what you’re offering if the service they use instead is satisfying their needs to the limit? It makes no sense, so your job is to ask the right questions and see where the problems are and how your service/product can help them capitalize on these pitfalls.
- The commitment to collaborate – The fundamentals in this step, revolve around a simple statement – change your solution into a “Solution.” In other words, don’t deliver your final product without even taking into account the clients’ needs. Adjust your solution to be their weapon, which they would use to accomplish their goals. The salesperson and the client must become strategic partners, both carrying for each other’s interest!
- The commitment to build consensus – Sometimes the sales solution is wrapped in a complex B2B network including multiple stakeholders. In such a situation, finding general agreement is a must. At first, your job would be to single out all major stakeholders and put yourself in their shoes. Such a decision may help you understand the big picture and define a proposal that may eventually develop into a win-win situation. If you can’t reach out to them, the least you can do is explain your contact why is important to build a relationship with them. But not all are willing to hear your battle cry.
- The commitment to invest – Every sales process encompasses several parties which must invest their time, energy and capital. Your position, on the other end of the tunnel, is to discuss the price after several meeting sessions. You have to beware of a bidding war with your competitors and to avoid such a scenario; it’s advisable that you present your price early on. This approach will help you weed out all unprofitable prospects.
- The commitment to review – When the time comes to showcase your presentation skills, you have to gear yourself up with mental sharpness. Don’t skip any step and secure a commitment from the client to find a generally acceptable proposal. To do so, you need to solicit feedback from all the stakeholders in the process and then form the final solution.
- The commitment to resolve concerns – The bottom line is – clients don’t fear your product, but the changes deriving from it. So, basically you must encourage them to share their concerns to close the sale. For instance, do you think that your clients are eager to implement your solution if the service you are providing is only a slightly better option than the one already in place? – No! Because it’s not worth the effort! Tackle their fears by offering something 5x times better and provide support during the enforcement of the new idea.
- The commitment to decide – The 9th commitment arrives spontaneously if you have successfully executed all previous 8. Securing a commitment from the client is not a straightforward task, especially when it comes to making the final decision. If you succeed, the relationship will reach a whole different level.
- The commitment to execute – A sale that is not able to deliver a product of unparalleled quality, damages the reputation of the salesperson and puts him/her in an inferior position. Not satisfying the clients to the full extent, may obstruct the process of winning additional sales. Therefore, you must make an effort to present the offerings straightforwardly, and provide the users with valuable info on how to utilize all the features contained in the product. This final step can be marked as a commitment to execute.
Key Lessons from “The Lost Art of Closing”
1. Secure the necessary commitments in the shortest timespan possible
2. Embrace gradual transition from one stage to the next
3. Integrate clients’ needs into the development of a solution
Secure the necessary commitments in the shortest timespan possible
Sales managers are duty bound to supervise the process and gauge possible deals.
The execution of the 10 commitments will serve as a backbone for nurturing lucrative relationships with clients and other key personalities.
Embrace gradual transition from one stage to the next
It’s no secret that not a small portion of salespeople opt for skipping some of the commitments to get the part where they can actually earn money.
For them, the process can be reduced to 4-5 key steps, and all the extra stages are just adding to the complexity.
Don’t become one of them!
Integrate clients’ needs into the development of a solution
Use your business expertise to pain a partnership picture; don’t opt for a one-way communication style.
In other words, increasing customer retention by 5% can generate roughly a 75% increase in profits!
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“The Lost Art of Closing Quotes”
You can’t wait until your dream client experiences the negative impact of not changing before you decide to help them. You have to be…helping them understand the need to change. Click To Tweet Your dream client wants…problems to be solved, challenges overcome, opportunities pursued and greater outcomes obtained. Click To Tweet Although you may think that your client is only buying the value in your product, service or solution, the truth is that you are the larger part of the value proposition. Click To Tweet Sales can be a very rewarding career because, properly done, it requires that you help people get results they couldn’t have achieved without you. Click To Tweet
Our Critical Review
We are always on the lookout for practical and applicable tips that present an actionable solution. This book is the embodiment of such a reality.
We were really thrilled to participate in something so profound and share our thoughts on the topic!
Emir is the Head of Marketing at 12min. In his spare time, he loves to meditate and play soccer.
