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Closing the Sale
The cause of closing failure How to Close a Sale. Assumptive close Alternative Decisions Summary & Affirmative Agreement Balance Sheet Approach Emotional close Extra Inducement Close Critical Feature Close Silence as a closing Technique
The sales person’s ultimate goal! It is the crunch or outcome of a sales effort The logical, natural and desired end to a sales presentation A final step to obtain a decision favorable to your company, your proposition without which the presentation is left hanging.
Closing may be difficult but doesn’t have to be painful or bewildering. The inexperience factor can be crushing when it comes to time to close the sale. After all. Prospecting and explaining features and benefits can be difficult for a non-sales-oriented entrepreneur.Basic Pointers Many entrepreneurs lack experience in outside sales. A few basic pointers will help demystify this potentially awkward process: March 13 4 . even sales pros often have trouble closing a deal.
closing can be tricky. As any sales veteran will tell you. But closing a tough sale requires more than a winning personality. and there are many situations where a False move can delay or derail a sale.The causes of Closing Failures Successful entrepreneurs often come by selling naturally. You can boost your odds of clinching the deal simply by avoiding these Classic closing mistakes: March 13 5 .
The cause of closing failure Failure to ask for the order . is lost for this reason Fear of rejection .the highest % of sale opportunities.personal rejection or even that of the proposal Lack of closing skills Lack of confidence Fear of appearing too pushy Fear of upsetting the customer March 13 6 .
Paint a positive emotional picture of how the prospect will feel when they use your product or service.Failure… Matching Needs with products Summarize all the things the prospect said they want from a product or service. Use the notes you’ve collected throughout the sales process to show how buying from you satisfies these needs. Show that the product is within the prospect’s budget. If the price is a bit lower than expected. Point out the extra benefits your prospect will get by purchasing the product or service from your company not just any company. March 13 7 . get them excited about it.
but you will do a lot better if you learn to stop when you have said enough. After you have asked closing questions. stop talking and let the prospect answer. Your prospect may be ready to buy but you are too busy talking to notice. March 13 8 . Failing to Pay Attention to the Prospect’s Signals Selling is more about listening than it is about talking.2. It is tempting to keep selling when you should be listening.
3. Getting jaded. Don’t let past experience negatively affect your techniques. Getting too caught up in the success or failure of each interaction can also be a problem. March 13 9 . Attitude is everything in sales. The best salespeople treat each new prospect as if they were the first and most exciting customer around. Don’t let your successes cloud the circumstances of the current situation.
to facilitate commitment with confidence March 13 10 .Remember most people are: Poor decision makers Afraid of making wrong decisions Dislike spending money Are afraid of being. conned or appearing foolish A skilled sales person must reduce anxiety and uncertainty.
" March 13 11 .Learn to recognize buying signals A customer might indicate they’re ready by asking questions about the product or the buying process: "How long would delivery take?" "What does that button do?" or "Is an upgrade available?" Other signs include complaints about previous vendors and interested comments such as "Really?" or "Good idea.
instead of answering the question. "Would you like it in black?" March 13 12 . For example. Such return questions can help lead to a sale.“ you could ask.Gear Questions to commitment Answer your prospect’s queries with questions of your own carefully chosen. "Does this come in black?" with "Yes.
g.. 13 . Get three issues free! Internet services (Free 30-day membership!) and car sales (Take a test drive today!). appearing frequently in magazine e. March 13 Free trials often lead directly to sales.This approach is sometimes called the "puppydog" close. because it’s reminiscent of the attachment children develop to a puppy after keeping it overnight. This strategy works well for all sorts of businesses.
When do you close a Sale? No matter how good all the other stages of the sale are. it is only the score that counts Be ready to close from the beginning! Close at the earliest possible moment! Close when the prospect shows that they are ready Close when nothing else remains to be done Try to close all the time March 13 14 . closing is what secures an order!! Just as in football .
Sales closing techniques Direct close Indirect close Step by step close Summary & affirmative agreement Balance sheet approach Emotional close Suggestive close Silence March 13 15 .
take order and shut up! If “no” or “not now”.. The direct close still works and is used with success Depending on . thanks the buyer..the Rapport between salesperson and the buyer If response is “yes”.e. one way just like a referendum on proposed Constitution. or “never”! Try and find out why.the skill of the salesperson and . you may get a chance to begin again. “Will you marry me?” A “no” can complicate matters as the prospect may not be saying “no” to everything you said – but may be just to one aspect .or you handle the objection March 13 16 .I Direct close Ask for direct response i.
. e.g. if he wants shipment on Monday. You’ve offered him a chance to let you make decisions about details that would otherwise delay a sale.g. "We can ship 15 units on Tuesday for $1.00. If your prospect is uncomfortable with any of the specifics E. suggest a specific buying scenario and then ask if your customer agrees to it. he will say so. Do you want us to do that?“ addresses three separate questions: the number of units to be shipped the price the time of the shipment.Suggest specific terms Rather than asking whether your prospect wants to buy . Be sure you know enough about your customers´ needs to make reasonable suggestions and avoid March 13 sounding ignorant and pushy. 17 .
II Indirect close It is better. more successful and less stressful to both parties and is the most preferred by professionals Assumptive close Simply assumes the buyer will buy and is willing to do so and all that is required will be achieved via an indirect closing question March 13 18 .
Examples of Indirect Questions Is it ok if we deliver this Friday? When would you like delivery? When would you like us to deliver it? How many would you like to start with? If prospect is not ready yet. March 13 19 . clarify needs try again.
clarify needs & try again March 13 20 .Action close An assumptive close + action ◊Take/open order book. start writing ◊Offer to phone in the order ◊If not ready.
g.Alternative close Offer two alternatives e. “Would you like the standard or deluxe model?” Either choice is in your favor & you win March 13 21 ..
III. it is not easy for prospect to say “No” March 13 22 . After saying “Yes” several times. Step by step close Obtain agreement on small issues step by step leading to the final big agreement.
Summary & Affirmative Agreements Summarize favorable points of your discussion clearly and precisely. Reinforce positive points. getting the prospect to agree with you as you do this.IV. dispel doubts and ask a closing question March 13 23 .
Do not help buyer with disadvantages March 13 24 .V. Balance sheet approach Compile a list of all advantages of your proposal on one side and disadvantages on the other side and help buyer with the advantages and ask a closing question.
VII Emotional close Use “fear” to try and obtain agreement If you don’t buy now.. prices may go up If you don’t take the insurance now. think of the risk to your family if anything goes wrong March 13 25 ..we will run out of the special priced stocks If you don’t place your order now..
VII Extra inducement close Offer an incentive to the prospect to buy now If you buy now. you will benefit from the special 5% discount March 13 26 .
VIII Suggestive close Propose more to go with what has been agreed on Would you like some nice wine with your dinner? some cheese in your hamburger? a shirt for the suit? a tie with the shirt? a pair of socks for the shoes? Seek to expand the range your customer is buying March 13 27 .
March 13 28 . shut up and wait for the answer.IX Silence After you ask your closing question. The silence will bother the prospect more than it will bother you.
don’t be afraid to ask. “Where did I go wrong?” as such a personal appeal may give you a chance to deal with the objection.Remember …. If all fails. and get another shot March 13 Close from the beginning! Close at all times! Watch out for buying signals! Watch out for positive comments Listen to voice inflection Body language & gestures Handling product Pick up on the positive Close on all calls all the time Ask for the commitment! 29 .
Stimulate Satisfy March 13 Excite 30 .