INTRODUCTION TO BUSINESS MARKETING How to Close a Sale
Overall Objective <ul><li>In a role-play situation, the student will close a sale with at least 70% accuracy, according to...
Enabling Objectives
Identify your Customer <ul><li>There are four types of buyers </li></ul><ul><li>Understand each type of buyer </li></ul><u...
Timing the Close <ul><li>Buying Signals </li></ul><ul><ul><li>Things customers do or say to indicate a readiness to buy </...
When to Close <ul><li>You begin closing once you meet your customer </li></ul><ul><li>All actions are directed towards clo...
Closing the Sale <ul><li>Recognize Closing Opportunities </li></ul><ul><li>Help Customers Make a Decision </li></ul><ul><l...
What Defines a Great Close <ul><li>Enthusiasm </li></ul><ul><li>Emotionally packed </li></ul><ul><li>Fantastic Presentatio...
Various Techniques for Closing a Sale <ul><li>Trial Close </li></ul><ul><ul><li>Series of trial close questions </li></ul>...
Various Techniques for Closing a Sale <ul><li>Standing-room-only close </li></ul><ul><ul><li>Used when product is in short...
Be Prepared for Objections <ul><li>Prepare for potential objections </li></ul><ul><li>Formulate responses for potential ob...
The Close Question <ul><li>Establish a close question </li></ul><ul><li>Memorize your close question </li></ul><ul><li>Pra...
Eight Yes’s <ul><li>Strive for yes  </li></ul><ul><li>Green light means go </li></ul><ul><li>More yes’s = greater chance o...
Handling Indecision <ul><li>Fill out closing documents </li></ul><ul><li>Get buyer to an emotional high, then close </li><...
Quick Summary <ul><li>Customer buying signals help a salesperson determine a customer's readiness to buy, which is importa...
Review Quiz <ul><li>1. What is closing the sale?  </li></ul><ul><ul><li>a. Obtaining an agreement to buy from the customer...
Review Quiz <ul><li>3. If the customer is giving you strong buying signals, which close would you use?  </li></ul><ul><ul>...
Review Quiz <ul><li>5. CRM is  </li></ul><ul><ul><li>a. Maintaining relationships with customers  </li></ul></ul><ul><ul><...
Homework <ul><li>Due Next Class: </li></ul><ul><li>Case Study </li></ul><ul><li>DECA Prep </li></ul><ul><li>Sales-Role Pla...
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How To Close A Sale

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  • Answer Key: 1. a 2. c 3. c 4. c 5. a
  • How To Close A Sale

    1. 1. INTRODUCTION TO BUSINESS MARKETING How to Close a Sale
    2. 2. Overall Objective <ul><li>In a role-play situation, the student will close a sale with at least 70% accuracy, according to the rating sheet developed by the instructor. </li></ul>
    3. 3. Enabling Objectives
    4. 4. Identify your Customer <ul><li>There are four types of buyers </li></ul><ul><li>Understand each type of buyer </li></ul><ul><li>Each buyer can be grouped into a category </li></ul>
    5. 5. Timing the Close <ul><li>Buying Signals </li></ul><ul><ul><li>Things customers do or say to indicate a readiness to buy </li></ul></ul><ul><ul><li>These signals include: facial expressions, body language, and comments </li></ul></ul><ul><li>Trial Close </li></ul><ul><ul><li>Tests the readiness of the buyer </li></ul></ul><ul><ul><li>Initial effort to close the sale </li></ul></ul>
    6. 6. When to Close <ul><li>You begin closing once you meet your customer </li></ul><ul><li>All actions are directed towards closing </li></ul><ul><li>Remember: ABC’s </li></ul>
    7. 7. Closing the Sale <ul><li>Recognize Closing Opportunities </li></ul><ul><li>Help Customers Make a Decision </li></ul><ul><li>Use words like “you and your” to create ownership </li></ul>
    8. 8. What Defines a Great Close <ul><li>Enthusiasm </li></ul><ul><li>Emotionally packed </li></ul><ul><li>Fantastic Presentation </li></ul>
    9. 9. Various Techniques for Closing a Sale <ul><li>Trial Close </li></ul><ul><ul><li>Series of trial close questions </li></ul></ul><ul><ul><li>Trial close questions give you an indication of interest </li></ul></ul><ul><li>Which Close </li></ul><ul><ul><li>Encourages buyer to make a decision between two items </li></ul></ul>
    10. 10. Various Techniques for Closing a Sale <ul><li>Standing-room-only close </li></ul><ul><ul><li>Used when product is in short supply and the price will soon rise </li></ul></ul><ul><li>Direct Close </li></ul><ul><ul><li>You ask for the sale </li></ul></ul><ul><ul><li>When buying signal is strong </li></ul></ul><ul><li>Service Close </li></ul><ul><ul><li>Explain services to overcome buyer objections </li></ul></ul>
    11. 11. Be Prepared for Objections <ul><li>Prepare for potential objections </li></ul><ul><li>Formulate responses for potential objections </li></ul><ul><li>Be able to think on your feet </li></ul>
    12. 12. The Close Question <ul><li>Establish a close question </li></ul><ul><li>Memorize your close question </li></ul><ul><li>Practice your close </li></ul>
    13. 13. Eight Yes’s <ul><li>Strive for yes </li></ul><ul><li>Green light means go </li></ul><ul><li>More yes’s = greater chance of completing the sale </li></ul>
    14. 14. Handling Indecision <ul><li>Fill out closing documents </li></ul><ul><li>Get buyer to an emotional high, then close </li></ul><ul><li>Give the buyer one more reason to buy </li></ul>
    15. 15. Quick Summary <ul><li>Customer buying signals help a salesperson determine a customer's readiness to buy, which is important in trial closes. The signals include facial expressions, body language, and comments. </li></ul><ul><li>General rules for closing a sale are the following: recognize closing opportunities, help customers make a decision, create an ownership mentality, do not talk too much, and do not rush. </li></ul><ul><li>The three specialized methods for closing a sale are the which close, the standing-room-only close, and the service close. </li></ul>
    16. 16. Review Quiz <ul><li>1. What is closing the sale? </li></ul><ul><ul><li>a. Obtaining an agreement to buy from the customer </li></ul></ul><ul><ul><li>b. Obtaining a few buying signals from the customer </li></ul></ul><ul><ul><li>c. A trial close technique </li></ul></ul><ul><ul><li>d. A way to get feedback from the customer </li></ul></ul><ul><li>2. What is a which close? </li></ul><ul><ul><li>a. A selling method used when a product is in short supply </li></ul></ul><ul><ul><li>b. A method where you ask for the sale directly </li></ul></ul><ul><ul><li>c. A way to encourage a customer between two items </li></ul></ul><ul><ul><li>d. None of the above </li></ul></ul>
    17. 17. Review Quiz <ul><li>3. If the customer is giving you strong buying signals, which close would you use? </li></ul><ul><ul><li>a. The which close </li></ul></ul><ul><ul><li>b. The standing-room-only close </li></ul></ul><ul><ul><li>c. The direct close </li></ul></ul><ul><ul><li>d. The service close </li></ul></ul><ul><li>4. What is suggestion selling? </li></ul><ul><ul><li>a. An after-sales activity </li></ul></ul><ul><ul><li>b. A service close </li></ul></ul><ul><ul><li>c. Selling additional goods or services besides the main purchase </li></ul></ul><ul><ul><li>d. Suggesting which product to choose when the customer is hesitating </li></ul></ul>
    18. 18. Review Quiz <ul><li>5. CRM is </li></ul><ul><ul><li>a. Maintaining relationships with customers </li></ul></ul><ul><ul><li>b. Offering related merchandise </li></ul></ul><ul><ul><li>c. Giving customers reviews of the product </li></ul></ul><ul><ul><li>d. Demonstrating the product </li></ul></ul>
    19. 19. Homework <ul><li>Due Next Class: </li></ul><ul><li>Case Study </li></ul><ul><li>DECA Prep </li></ul><ul><li>Sales-Role Play: </li></ul><ul><li>Begin preparing for your role-play. I will give you practice time in class, and then we will act out the role-play! </li></ul>
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