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Personal Selling 5 Closing

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Title: 6 Closing Author: mcdonald Last modified by: Administrator Created Date: 4/17/2002 9:32:13 PM Document presentation format: On-screen Show Company – PowerPoint PPT presentation

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Title: 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
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14
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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
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