Closing the sale

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Closing the sale

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Closing the sale

  1. 1. Closing the Sale <ul><li>Dr. Jim Burton </li></ul><ul><li>Marketing & Real Estate </li></ul><ul><li>Richards College of Business </li></ul>
  2. 2. Overview <ul><li>When to Close </li></ul><ul><li>Overcoming Objections </li></ul><ul><li>Prepare for Many Closes </li></ul><ul><li>12 Keys to Successful Closing </li></ul><ul><li>Some Techniques for Closing </li></ul><ul><li>A Multiple-Close Sequence </li></ul><ul><li>Six Sales Mistakes </li></ul>
  3. 3. When to Close <ul><li>When the Prospect is Ready! </li></ul><ul><li>Read the Buying Signals </li></ul><ul><ul><li>Buyer asks questions </li></ul></ul><ul><ul><li>Buyer asks other’s opinion </li></ul></ul><ul><ul><li>Buyer relaxes & becomes friendly </li></ul></ul><ul><ul><li>Pulls out a purchase order form </li></ul></ul><ul><ul><li>Buyer carefully examines product </li></ul></ul>
  4. 4. Overcoming Objections <ul><li>Always Be Closing (ABC) </li></ul><ul><li>Ask for the Order & Be Quiet </li></ul><ul><li>Get the Order, then Move On ! </li></ul><ul><li>Use Multiple Closes </li></ul><ul><li>Overcome the FEAR of Closing </li></ul><ul><li>Use Planned & Well-Rehearsed Presentation </li></ul><ul><li>Ask, Ask, Ask ! </li></ul>
  5. 5. Essentials of Closing Sales <ul><li>Be Sure your Prospect Understands </li></ul><ul><li>Tailor your Close to each Prospect </li></ul><ul><li>Consider the Customer’s Point of View </li></ul><ul><li>Never Stop at First “NO” </li></ul>
  6. 6. Essentials of Closing - Continued <ul><li>Recognize Buying Signals </li></ul><ul><li>Attempt a Trial Close </li></ul><ul><li>After Asking for Order - Be Silent ! </li></ul><ul><li>Set High Goals </li></ul><ul><li>Develop Confident Attitude </li></ul>
  7. 7. 12 Keys to Close <ul><li>Think Success ! Be Enthusiastic. </li></ul><ul><li>Plan your Sales Call. </li></ul><ul><li>Confirm your Prospect’s NEEDS in the Approach </li></ul><ul><li>Give a GREAT Presentation </li></ul>
  8. 8. 12 Keys to Close <ul><li>Use Trial Closes </li></ul><ul><li>Smoke out the Prospect’s REAL Objections </li></ul><ul><li>OVERCOME the Real Objections </li></ul><ul><li>Use a Trial Close after Overcoming Each Objection </li></ul>
  9. 9. 12 Keys to Close <ul><li>Summarize BENEFITS as related to Buyer’s NEEDS </li></ul><ul><li>Use Trial Close to Confirm Benefits/Needs </li></ul><ul><li>Ask for Order, then Silence </li></ul><ul><li>Leave the Door Open </li></ul><ul><li>Be a Professional </li></ul>
  10. 10. Common Closing Techniques <ul><li>Alternative-Choice Close </li></ul><ul><li>Assumptive Close </li></ul><ul><li>Compliment Close </li></ul><ul><li>Summary-of-Benefits Close </li></ul><ul><li>Continuous-Yes Close </li></ul><ul><li>Minor-Points Close </li></ul>
  11. 11. Common Closing Techniques <ul><li>T-Account or Balance Sheet Close </li></ul><ul><li>Standing-Room-Only Close </li></ul><ul><li>Probability Close </li></ul><ul><li>Negotiation Close: Value/Price </li></ul><ul><li>Laptop PC Close </li></ul>
  12. 12. Multiple-Close Sequence <ul><li>Several Different Closes </li></ul><ul><li>Use Closing Techniques based on the Situation, p.362 </li></ul>
  13. 13. Six Sales Mistakes <ul><li>Tells instead of Sells </li></ul><ul><li>Over-Controls the Buyer </li></ul><ul><li>Doesn’t Recognize her NEEDS </li></ul><ul><li>Or Overcome with Benefits </li></ul><ul><li>Avoids Dealing w/Negative Attitudes Effectively </li></ul><ul><li>Makes WEAK Closing Statements </li></ul>

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