The Lost Art of Closing

1. Closing is a series of commitments, not a single event

Closing isn't a single event, but a whole series of events. . . . And successfully navigating each one is vital for movement to the next.

Redefining closing. The traditional view of closing as a single, final event is outdated. Instead, closing is a process of gaining multiple commitments throughout the sales journey. This approach aligns with modern B2B buying processes, where decisions are made by consensus and involve multiple stakeholders.

Ten key commitments. The book outlines ten critical commitments salespeople must secure:

• Commitment for Time
• Commitment to Explore
• Commitment to Change
• Commitment to Collaborate
• Commitment to Build Consensus
• Commitment to Invest
• Commitment to Review
• Commitment to Resolve Concerns
• Commitment to Decide
• Commitment to Execute

Each commitment moves the sale forward and builds a stronger relationship with the client. By focusing on these commitments, salespeople can create a more predictable and successful sales process.

2. Control the process by gaining necessary commitments

Control the commitments and control the process.

Guiding the buyer's journey. By understanding and actively managing the commitment process, salespeople can guide their clients through the buying journey more effectively. This approach allows salespeople to anticipate and address potential roadblocks before they become deal-breakers.

Proactive leadership. Taking control of the process demonstrates leadership and expertise to the client. It involves:

• Anticipating the client's needs at each stage
• Explaining the value of each commitment
• Addressing concerns proactively
• Ensuring all necessary stakeholders are involved

By controlling the process, salespeople can create a smoother, more efficient experience for both themselves and their clients, ultimately increasing the likelihood of a successful outcome.

3. Trade value for each commitment to move the sale forward

Trading value is a critical concept in commitment gaining, and we have to cover it here, before we get to the actual commitments.

Value exchange principle. Every commitment requested should be accompanied by a clear value proposition for the client. This approach ensures that clients see the benefit of moving forward at each stage of the process.

Creating value throughout the process:

• Offer insights and industry knowledge
• Provide relevant case studies and success stories
• Share best practices and potential solutions
• Demonstrate understanding of the client's unique challenges

By consistently delivering value, salespeople build trust and credibility, making it easier for clients to commit to next steps. This approach shifts the focus from selling to problem-solving and partnership, aligning with the consultative selling model.

4. The Commitment for Time is crucial and often the hardest to obtain

If you don't ask for the commitments you need, you are wasting your dream client's time, your company's time, and your own time.

Overcoming initial resistance. The Commitment for Time is often the most challenging to secure, as prospects may be satisfied with their current situation or wary of salespeople. To overcome this:

• Clearly articulate the value of the meeting
• Promise not to waste their time
• Offer insights relevant to their business
• Use confident, natural language

Persistence and preparation. Expect initial rejections and be prepared to address common objections. Have a backup plan or alternative commitment ready if the initial request is declined.

Key strategies:

• Ask early in the conversation
• Lower the commitment level (e.g., request a 20-minute meeting)
• Promise specific value without a sales pitch
• Follow up with additional value if initially rejected

5. Help clients explore change and build a compelling case

You create value for your clients doesn't come from asking them what's keeping them up at night. It comes from telling them what should be keeping them up at night.

Shift from discovery to insight. Instead of relying solely on traditional discovery questions, provide valuable insights about industry trends, challenges, and opportunities. This approach positions the salesperson as a knowledgeable advisor rather than just an information gatherer.

Creating dissonance. Help clients recognize the gap between their current state and potential future state. This involves:

• Sharing industry benchmarks and best practices
• Highlighting potential risks of maintaining the status quo
• Demonstrating the impact of emerging trends on their business

By helping clients explore change and recognize compelling reasons to act, salespeople create opportunities and set the stage for further commitments.

6. Collaborate with clients to create tailored solutions

Collaboration with a prospective client is essential. Always invite them to help you make decisions about how to produce their desired outcomes.

Co-creation approach. Involve clients in the solution design process to ensure buy-in and address specific needs. This collaborative approach:

• Increases client ownership of the solution
• Uncovers potential implementation challenges early
• Builds stronger relationships and trust

Adapting and customizing. Be willing to make adjustments to your standard offerings based on client input. This may involve:

• Creating new roles or processes
• Integrating with existing systems
• Addressing unique stakeholder concerns

By collaborating effectively, salespeople create solutions that are more likely to be accepted and successfully implemented.

7. Build consensus among stakeholders to ensure successful implementation

Today, in most large corporations, consensus is king.

Navigating complex decision-making. Recognize that decisions in B2B sales often involve multiple stakeholders with diverse interests. To build consensus:

• Identify all relevant stakeholders early in the process
• Understand each stakeholder's priorities and concerns
• Facilitate discussions to address potential conflicts
• Demonstrate how the solution benefits various departments

Overcoming resistance to inclusion. Clients may resist involving additional stakeholders due to fears of:

• Losing control of the process
• Creating internal conflicts
• Extending the decision-making timeline

Address these concerns by explaining the benefits of inclusive decision-making and offering to manage the process efficiently.

8. Address the investment early to avoid price-based competition

If you withhold the necessary conversations about price until the end, your price will be compared to your competitors' and you'll be asked to discount.

Shifting the focus to value. Introduce pricing discussions earlier in the sales process to:

• Set realistic expectations
• Avoid wasting time on unqualified prospects
• Frame the conversation around value rather than price

Justifying higher investments. If your solution commands a premium price:

• Clearly articulate the additional value provided
• Demonstrate the long-term cost savings or revenue gains
• Address the risks of underinvesting in solving the problem

By having these conversations early, salespeople can better control the narrative around pricing and avoid last-minute negotiations or comparisons based solely on price.

9. Review and refine proposals before final presentation

Your goal should always be to craft a solution and a proposal to which your prospective client can only say yes.

Iterative proposal development. Seek feedback on your proposed solution before finalizing it. This approach:

• Ensures alignment with client needs and expectations
• Uncovers potential objections early
• Demonstrates commitment to getting the solution right

Collaboration techniques:

• Hold pre-proposal review meetings with key stakeholders
• Use collaborative tools to gather input asynchronously
• Be open to making adjustments based on feedback

By refining the proposal collaboratively, salespeople increase the likelihood of presenting a solution that the client is ready to accept.

10. Resolve concerns to build trust and secure the decision

Time has never helped anyone make a better decision. They need more information and better counsel.

Proactive concern resolution. Anticipate and address client concerns before they become obstacles to the decision. This involves:

• Asking directly about any lingering doubts or questions
• Providing additional information or proof points as needed
• Demonstrating how similar concerns have been addressed for other clients

Building confidence. Use this process to showcase your commitment to the client's success and your ability to handle challenges. Address both rational and emotional concerns to build complete confidence in your solution.

Key areas to address:

• Implementation challenges
• ROI and financial concerns
• Risk mitigation strategies
• ongoing support and partnership

11. Execute effectively by gaining internal and client-side commitments

If you want to be a rainmaker, you have to make it rain, which means that you create new opportunities.

Internal alignment. Secure commitments from your own organization to deliver on promises made to the client. This may involve:

• Advocating for necessary resources or budget allocations
• Coordinating cross-functional teams
• Ensuring leadership buy-in for customized solutions

Client-side execution support. Work with the client to ensure successful implementation by:

• Identifying potential roadblocks within their organization
• Providing change management support
• Establishing clear milestones and success metrics

By focusing on effective execution, salespeople can ensure long-term success, build stronger client relationships, and create opportunities for future business.

Last updated: October 3, 2024