Most companies define the sales closing ratio as the number of closed sales divided by the number of presentations. In order to improve this number, it is best to observe and then make the appropriate adjustments based on the unique aspects of each customer and how they make use of your company's products and/or services. Of course, the focus is always on the customer. So it would then make sense to discuss the best ways to manage and apply the knowledge gained from this customer-directed focus.
Find the approach most appropriate for each client.
There are many ways to sell a product. Some people respond best to high pressure techniques while others prefer more laid back methods. This is why having a sense of empathy with a customer is so vitally important for any sales presentation. If you provide the facts and benefits in a way that is very comfortable with a particular client, then you should have an increased possibility of closing the deal.
Ask the correct questions.
Oftentimes, it is not enough to merely be interested in your customer's wants and desires. You must also precisely know how you should address these wants and desires so that your clients will give you the correct details that you are looking for. For instance, an individual that specializes in buying used iPhones might act more favorably if you ask relevant questions about iPhones in your presentation. If you do manage to ask for the right information from the customer, then they will often return the favor and give you all of the detail that you need to convince them that they should seal the deal.
Use negative responses as opportunities to gather information.
The word no can be your friend if you know how to respond to it in the right manner. Quite often, this word merely means that you need to prove your case in a more convincing manner. You can often use a negative response as a golden opportunity to find the exact issues that are preventing the deal from being closed. By responding in the correct way and not allowing panic to interfere with your thought process, you can take a no and turn it into a yes, if you handle the situation correctly.
Know when and when not to use high pressure tactics.
Although there are a few individuals who respond to this type of sales approach, there are many who do not. In fact, there are quite a few people who are actually turned off by this approach and will refuse to close as long as they feel they are being pressured. This phenomenon is more true with expensive goods and services. However, cheaper items and impulse buys often require high-pressure tactics.
So by considering all of the variables of the equation and then making the right type of sales pitch to the right type of person, you can increase your sales closing ratio, or at least be able to identify why you are not doing better.