I am often asked: “Marios, If there is one technique you mostly use to effectively close deals, which one is it?”, so here is my answer. There is one technique that I use, which has enabled me to close deals faster and better, and ensure that I set the appropriate parameters in every sales conversation I do. I am mostly using reverse psychology in order to set boundaries, clarify expectations, and make the discussion and qualification process a two way road.
Customers often act out as almighty due to the fact that they are the ones with the cash that is so much desperately needed by the business. Cash is power, and nobody turns out a cash payment, according to customer mindset. Give them what they ask for, or they walk away. Unfortunately I have had my fair share of potential customers walking away from me in my early beginnings and so many other sales people have experienced this, simply because you wouldn’t put up with some of the most outrageous demands made on a certain product or services that you provide.
Due to this fact, and the time it was consuming me, I thought to myself, “What if I could walk out on them?” “What if they were afraid that I might reject them, instead of them rejecting me?” “What impact would that have?”, and so I went on to plan it out. One thing that is a given, is that nobody wants to be rejected, and if you frame it in a proper context, customers will bend over backwards in getting your approval !
The first time it struck me, was few years back in my actual field of expertise, where I really got moulded in sales, which is the automotive industry. Everybody loves a good old school bargaining when they are purchasing a new car. Very often I used to get the “I will think about it” and I hated it. Not knowing if they are going to call back, if they will go through with it or not. So I thought to myself, “Let’s flip the tables”. The next customer that walked in, and started bargaining throwing some ridiculously low numbers around eventually said to me “Give me your best price and I will think about it”, and the response was “No sir. You tell me how much you are willing to give, and I will think about it”. Instantly the dynamics changed.
You can see them looking back at you confused, as if wondering what just happened? I could see in his expression thinking “This is not how it is supposed to happen”. Reason for this is because potential customers know that “I will think about it” is a polite way of rejecting someone, and I was this close to rejecting him in that moment. That fear alone, eliminates most of the absurd, ridiculous, old fashion, time wasting bargaining. To this day I use this technique in every sale, and it works like a charm every single time!
Another example was a recent meeting I had with a company that wanted some help with their marketing strategy and social media ads. Now, I know I wasn’t the only person that approached them reference the project, so I had to do something different. When everyone went there trying to showcase their best self and the number of clients they already have, I did the exact opposite. I told them as soon as we sat down, that this meeting was not only for them to see if my skills could be of use to them, but also for me to see if they would be a good fit, meaning that if it would be worth my time, effort and skills in working with them. Here is how I framed it “Just like yourselves, my time is extremely valuable hence why I am very selective with my clientele. I work only with people who have a vision, direction and are open to suggestions that they might not have originally considered.”
Laying it out in this sense, I had transmitted them the fear that I might turn around and reject them, and also that I wasn’t sure if they matched my “ideal customer” criteria. The rest of the discussion was like a walk in the park, where they would try to oversell me their company and how eager they are and open to suggestion and that’s why they would like to go ahead with my services. In that fear of rejection, they also weren’t hesitant at paying the most expensive package. If you want someone’s approval, you go all out to get it.
Being able to effectively use reverse psychology is what makes an outstanding record breaker salesperson. That’s how you keep your closing rate at its highest. That’s how you become a top performer. That’s how you manage and save time on deals. When customers engage with you, they need to be made aware that rejection can come from both parties, and that you are not to be bullied around by “cash now” statements, or fear of rejection. On the contrary, you set the parameters, and the customer tries to abide and fit into those parameters. Take the pressure away from you, or at least split it down the middle between you and the potential customer.
Thank you for taking the time to read this. I hope you have found it helpful and useful. All feedback and comments are welcomed, so leave yours below.