Closing the Sale and Confirming the Partnership

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14
Closing the Sale and Confirming the
Partnership
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Learning Objectives

• Describe the proper attitude to display toward
  closing the sale
• List and discuss selected guidelines for closing
  the sale
• Explain how to recognize closing clues
• Discuss selected methods of closing the sale
• Explain what to do when the buyer says yes and
  what to do when the buyer says no

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Six-Step Presentation Plan

• Approach (Chapter 10)
• Presentation (Chapter 11)
• Demonstration (Chapter 12)
• Negotiation (Chapter 13)
• Close
• Servicing the Sale

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Attitude Toward Closing

• Some closing methods can move the customer
  from indecision to commitment. When these
  methods are used effectively, the prospect will
  not feel pressured.
• Closing should be thought of as the beginning
  of a long-term partnership.

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PLUS Vision
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Strategic PlanningLeads to Actions
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Strategic Planning
14.2
FIGURE
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Strategic Planning for Close

• Review barriers to closing sale
• Review closing guidelines
• Prepare several closing methods
• Plan to ask for order more than once
• Practice the closing

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Actions During Close

• Recognize closing clues
• Focus on customers greatest interest
• Handle tough points early
• Avoid surprises
• Keep prospect involved
• Display confidence
• Accommodate buyers communication style
• Ask for order more than once

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Buyer Anxieties

• Review the value proposition from the prospects
  view
• Reluctance can bedue to
• Loss of options
• Fear of making a mistake
• Social or peer pressures

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Guidelines for Closing Sales

• Focus on dominant buying motives
• Longer selling cycles require multiple
  commitments
• Negotiate tough points before close
• Avoid surprises at close
• Display confidence at close
• Ask for order more than once
• Recognize closing clues

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Discussion Questions

• We have discussed reasons why buyers are
  reluctant to close a sale.
• What are several factors that might make
  salespeople hesitant to close sales?
• How can salespeople overcome these obstacles to
  closing?

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Ask for the Order
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Closing Clues

• Verbal clues
• Questions
• Recognitions
• Requirements

• Nonverbal clues
• Facial expression changes
• Prospect nods agreement
• Leans toward you
• Examines product literature intently

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Specific Closing Methods

• Trial close
• Summary-of-benefits
• Assumptive
• Special concession

• Multiple options
• Balance sheet
• Management
• Direct appeal
• Combination

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Closing Worksheet
14.3
FIGURE
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Trial Close

• Made at opportune time
• Can we ship in May?
• Would you like to start on the first of the
  month?
• Will a 500 downpayment be possible?

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Trial Close Opportunities
14.4
FIGURE
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Summary-of-Benefits Close

• Reemphasize value-added buyer benefits
• Thats 25 for each lunch, four conference
  rooms, and audio/visual support, plus our
  specialmeeting package.Can I make
  thisreservation for you?

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Assumptive Close

• Subtle way to ask for decision, assuming customer
  will buy
• Comes near the end of the presentation
• Because this shipment can meet your timetable,
  lets goahead and placeyour order.

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Special Concession Close

• Extra incentive for acting now
• Sample inducements
• Sale price
• Quantity discount
• Liberal credit plan
• Use with care

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Multiple Options Close

• Present several options to customer
• Steps
• Configure more thanone product solution
• Stop when ampleselection presented
• Remove less-appealing options or products

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Balance Sheet Close

• Outlines reasons to buy and not to buy
• Engage customer in this process

Reasons to buy
Reasons not to buy
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Management Close

• Involve senior executives or sales manager
• Upper-level managers add value
• Makes prospect feel important

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Direct Appeal Close

• Ask for the order in a straightforward manner
• Should not come too early
• Gain prospects respect first
• After asking,remain quiet

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Combination Closes

• Sales person simply combines two or more close
  methods for effectiveness

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Practice the Close

• Make these closing methods work better via
  practice
• Try sample script on sales manager
• Use a video camera,tape yourself
• Use closingworksheet to
  prepare

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Create Your OwnClosing Worksheet

• Include the following
• Several customer closing clues (verbal and
  nonverbal)
• An appropriate closingmethod for each
• A subsequent closing statement for you to use

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Many Offer Tips on Closing

• American Express.com
• AllBusiness.com
• ChangingMinds.org
• What does the advice provided on these sites
  have in common?

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Confirmation Step

• Reassure customer
• Confirm sale andpartnership
• Reduce buyers remorseforms of regret, fear,
  anxiety about sale
• Compliment buyer on wise decision
• Thank customer for order

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When Buyer Says No

• Learn to manage disappointment
• When a sale is lost
• Make sure the deal is really dead, otherwise
  reopen the presentation
• Review chain of events, identify weaknesses
• Obtain customer feedback to improve

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Discussion Questions

• Losing a sale can be miserable, and salespeople
  must learn to manage their disappointment when a
  sale is lost.
• What are several ways disappointment must be
  managed when a salesperson is stillface-to-face
  with a customer?
• How do you think salespeople learn to cope with
  lost sales?

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Facing Competition

• Some buyers want to look at competing
  products/services
• Do all possible to helpcustomer make
  anintelligent comparison
• Stress areas whereyour product is superior