Personal Selling 5 Closing

1
Personal Selling 5Closing

• How to successfully close a sale.

2
Know when to start closing

• ALWAYS
• The close is actually a process, not an isolated
  event.
• The final question might be something like How
  many do you want?
• That is the frosting on the cake
• Have to bake the cake first.

3
Closing The Process I

• Just like baking a cake
• Need all ingredients mixed in
• In proper proportions
• In the right sequence
• Baking at the right temperature
• For correct time

4
Closing The Process II

• A process of building agreements
• Help prospects make decisions that will benefit
  them
• Use a five-step process that builds to action

5
Five Step Close

• Ask questions and get prospect to identify needs,
  problems, and buying motives.
• Confirm understanding of prospect by summarizing
  and restating their thoughts.
• Present product features and translate those
  features into benefits that address the
  prospects buying motives.
• Ask questions to have customer confirm benefits.
  Gains their commitment. (It may be true if you
  say it. It is true if they say it.)
• Make a request for action

6
Some Techniques

• Add-ons to get confirmation
• Thats good quality, isnt it?
• Thats a good deal, wouldnt you say?
• Get prospect to say YES
• Escalator
• Ask questions to build up to product (insurance).
• Have them commit to supportive arguments 1st

7
Closing vs. Presenting

• You are there to close, not to present.
• The presentation is just the vehicle to get the
  close.
• Look for cues posture, nod, leaning, eyes
  up/down, changes in speech pace.
• If you are not fully prepared for the
  presentation, you wont be able to concentrate on
  the prospect adequately. Miss cues.
• If you sense the cue that indicates agreement,
  CLOSE! If too soon, get objection. Keep going.

8
Lost Opportunity to Buy I

• People are motivated to buy when they believe
  that they may lose the opportunity to buy.
• Creates a crisis, and a scarcity. How else can
  you explain Beanie Babies?
• Create competition for your product (real estate
  agents over-do this one).

9
Lost Opportunity to Buy II

• Convey the sense that the opportunity may be lost
  if they dont act now.
• Be willing to walk away e.g., Trade show price.
• Create a sense of urgency.
• Standing Room Only, Impending Event, Special
  Feature
• Whatever the reason, buy today or lose
  opportunity forever (or for a long time Disney
  movies on tape and DVD)

10
No YES/NO Questions

• Never ask a closing question that can be answered
  Yes or No
• Are you ready to buy? (Yes/No)
• vs.
• When would you like this delivered?
• or
• How many could you use?

11
Nudge vs. Sledge Hammer

• A close should be a gentle nudge to get the
  prospect to commit to buy.
• Yes/No questions are too direct.
• Move customer from positive feelings about you,
  your company, and your products to negotiating
  specific terms of a deal.

12
http//www.youtube.com/watch?vzVJOP1RdHC4
13
http//www.youtube.com/watch?vEMzoBkaFxh4modere
latedsearch
14
(No Transcript)
15
Persistence

• On average, it takes about five (5) attempts to
  close successfully.
• Each time you build agreement a bit more.
• Stay alert for closing cues.
• Whenever prospect indicates that she or he is
  sold, go into close.
• If that results in basic agreement, STOP the
  presentation and negotiate terms.

16
Assumptive Close Technique I

• You make a statement or ask a question that
  assumes the prospect is going to buy.
• Usually a secondary question.
• Example
• How does the suit fit?
• Very well.
• It looks good on you. Will you need some new
  ties to go with it?

17
Assumptive Close Technique II

• Anticipate the close with several secondary
  questions that you could use in an assumptive
  close
• Would you like me to have that gift wrapped?
• When would you like this delivered?
• Would delivery in three days be soon enough?
• Would you like some accessories (fries) with
  that? (Up-selling)

18
The Choice Technique I

• This technique also assumes that the prospect
  will buy.
• Rather than using a secondary question, you ask
  the prospect to choose among alternatives.
• Can use early in the presentation as you guide
  the prospect in making small decisions (as you
  get them used to saying yes).

19
The Choice Technique II

• Questions
• The basic model is 500, but for only 150 more
  you can get stereo sound. Will the basic model
  be good enough for you, or do you think that the
  investment in stereo is worthwhile?
• Im really fussy about the quality of sound from
  my television.
• I know what you mean. Will that be cash, check,
  or charge? (vs. How do you want to pay for this?)

20
The Choice Technique III

• More questions
• Do you think ten dozen is enough, or should we go
  with a gross? (Aggies Thats 12 dozen.)
• Would today be good, or is tomorrow better for
  you?
• It comes in red or black. Which do you prefer?
• Black.
• Great. We can deliver it tomorrow, or would you
  rather take it with you now?

21
Ben Franklin Balance Sheet
22
Ben Franklin Balance Sheet I

• The prospect appears to be sold, is not voicing
  objections, but doesnt seem ready to decide.
• Need to
• Uncover deal with any valid objections that are
  holding them back.
• Get prospect to make a decision.
• Can do orally or actually use paper (hokey).

23
Ben Franklin Balance Sheet II

• List pros and cons with the prospect
• Actually, you just list the benefits and reasons
  to buy now.
• Then ask the prospect if there is any reason not
  to buy.
• If the prospect says no, then go with an
  assumptive or choice close and wrap up sale.
• If the prospect says yes, then you have uncovered
  the objection and can deal with it.

24
Eliminate the Negative
You've got to accentuate the positiveEliminate
the negativeLatch on to the affirmativeDon't
mess with Mister In-Between Johnny Mercer
Sung by Bing Crosby in Here Come the Waves
http//www.youtube.com/watch?vGb6PHCVOU7s
25
Eliminate the Negative

• Same objective as Ben Franklin uncover the
  objective or persuade prospect to buy.
• Rather than just stating positives and letting
  prospect state negatives, salesperson volunteers
  potential reasons for not buying.
• Then you either eliminate it or confirm it as an
  objection.

26
After the Close
http//www.youtube.com/watch?vOxiXV-KOFjE
So I sing you to sleep after the loving With a
song that I wrote yesterday And I hope that it's
clear what the words And the music have to say
Engelbert Humperdinck
27
After the Close I

• If the close was a success
• Reassure the customer
• Alleviate buyers remorse
• Quick, a few seconds
• THEN
• Exit stage right
• Depart quickly. GET OUT OF THERE!
• Dont give them a chance to change their mind

28
After the Close II

• If no sale
• Critique the sale
• Before you make next call
• What did you learn?
• What did you do well?
• What should have been better? (Improve next
  time.)
• Plan a follow-up call
• Send a thank-you note in a few days
• Send information by mail in a few weeks
• Call for another appointment a couple of weeks
  after mailer

29
(No Transcript)