Chapter 24 - Closing (The SMART Sales System)
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The document discusses closing techniques for sales. It covers indirect closing techniques like trial closing and assumptive closing. It also discusses direct closing techniques like hard closing questions and compelling events. The document emphasizes that preparing well through qualifying prospects and handling objections makes closing easier. It concludes with key takeaways about improving closing rates through having a good sales process and message, as well as using techniques like trial closing and the sales takeaway strategically.
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Chapter 24 - Closing (The SMART Sales System)
- 1. Chapter 24 – Closing
- 2. Indirect Closing Techniques Direct Closing Techniques Sales Takeaway
- 4. Closing should be the easiest step
- 5. A Good Sales Message Makes Closing Easier You will communicate more clearly You will build more interest You will trigger less guardedness You will build more rapport You establish more trust and credibility You will be better at getting around objections
- 6. Qualifying the Prospect Makes Closing Easier
- 7. Being Prepared for Objections Makes Closing Easier
- 8. Initial Contact Meeting Presentation Don’t Sell the Product, Sell the Meeting
- 9. Indirect Closing Techniques Direct Closing Techniques Sales Takeaway
- 10. Trial Closing • What do you think of what we have discussed so far? • How do you think this fits with what you are needing? • How would that feature help you? • Is this something you could see your organization using? • Are we heading in the right direction? • Is this what you were expecting to see?
- 11. Assumptive Close We do free consultations every day at 10:00 a.m. What day works best for you?
- 12. Alternative Close We do our free consultations on Tuesdays and Thursdays. Which day works best for you?
- 13. Turn Questions into Statements • Question: Would you like to meet next week? • Statement: We should meet next week.
- 14. • What would you like to do next? • What direction would you like to go form here? • Do you want to continue talking about this? • When would you like to talk again? • What does the path forward look like? Let the Prospect Lead (Soft Close)
- 15. Hard Closing Questions • Are you ready to move forward to the next step in the process? • What would you need to be able to make a commitment to move forward? • If you had everything that you want, are you prepared to move forward? • When are you going to make your final decision? • (If delaying the decision for a period of time - X months) OK, but do you mind if I ask if there will be a change or something different at that time that will make that a better time to look at moving forward? • Is there anything that is preventing you from being able to move forward with this purchase?
- 16. Partnership Plan Activity Due Date Owner Status Initial Meeting 11/05/2019 Michael Jones Dennis Martin Complete Presentation / Demonstration 11/16/2019 Michael Jones Dennis Martin Veronica Flores Complete Discovery Meeting 11/23/2019 Michael Jones Stan Wilson Open X Corp to provide requirements 11/29/2019 Stan Wilson Open Presentation of draft proposal and contract language 12/2/2019 Michael Jones Open Communication of change requests to documents 12/5/2019 Dennis Martin Open Delivery of final executable documents 12/12/2019 Michael Jones Open Partnership agreement signed 12/19/2019 Tech Bee / X Corp Open Implementation begins 1/15/2020 Tech Bee / X Corp Open Go live 4/1/2020 X Corp Open If you would like to keep moving forward, this is what our partner- ship plan looks like. These are some of the steps that need to be taken between now and you getting up and running. Based on what we discussed today, are you interested in moving for- ward with this plan?
- 17. Partnership Plan Activity Due Date Owner Status Initial Meeting 11/05/2019 Michael Jones Dennis Martin Complete Presentation / Demonstration 11/16/2019 Michael Jones Dennis Martin Veronica Flores Complete Discovery Meeting 11/23/2019 Michael Jones Stan Wilson Open X Corp to provide requirements 11/29/2019 Stan Wilson Open Presentation of draft proposal and contract language 12/2/2019 Michael Jones Open Communication of change requests to documents 12/5/2019 Dennis Martin Open Delivery of final executable documents 12/12/2019 Michael Jones Open Partnership agreement signed 12/19/2019 Tech Bee / X Corp Open Implementation begins 1/15/2020 Tech Bee / X Corp Open Go live 4/1/2020 X Corp Open OK, no problem at all. Do you have enough interest to move to the next step on this partnership plan?
- 18. Partnership Plan Activity Due Date Owner Status Initial Meeting 11/05/2019 Michael Jones Dennis Martin Complete Presentation / Demonstration 11/16/2019 Michael Jones Dennis Martin Veronica Flores Complete Discovery Meeting 11/23/2019 Michael Jones Stan Wilson Open X Corp to provide requirements 11/29/2019 Stan Wilson Open Presentation of draft proposal and contract language 12/2/2019 Michael Jones Open Communication of change requests to documents 12/5/2019 Dennis Martin Open Delivery of final executable documents 12/12/2019 Michael Jones Open Partnership agreement signed 12/19/2019 Tech Bee / X Corp Open Implementation begins 1/15/2020 Tech Bee / X Corp Open Go live 4/1/2020 X Corp Open Great. Do these steps and time estimates look correct and acceptable to you? Do you have anything that you want to add or change?
- 19. Partnership Plan Activity Due Date Owner Status Initial Meeting 11/05/2019 Michael Jones Dennis Martin Complete Presentation / Demonstration 11/16/2019 Michael Jones Dennis Martin Veronica Flores Complete Discovery Meeting 11/23/2019 Michael Jones Stan Wilson Open X Corp to provide requirements 11/29/2019 Stan Wilson Open Presentation of draft proposal and contract language 12/2/2019 Michael Jones Open Communication of change requests to documents 12/5/2019 Dennis Martin Open Delivery of final executable documents 12/12/2019 Michael Jones Open Partnership agreement signed 12/19/2019 Tech Bee / X Corp Open Implementation begins 1/15/2020 Tech Bee / X Corp Open Go live 4/1/2020 X Corp Open Sure, we can definitely delay the meeting. But according to our agreed upon partnership plan, you want to have the system implemented by January 1st, and if we delay the meeting to next month, that will likely impact your ability to be up and running by January 1st.
- 20. • Natural compelling event: – Existing contract expiring – Site opening or moving – Existing system being discontinued • Manufactured compelling event: – Expiring discount – Expiring promotion – Limited product availability Compelling Event
- 21. Indirect Closing Techniques Direct Closing Techniques Sales Takeaway
- 22. Express Doubt • I do not know if you need what we provide. • I do not know if you are a good fit with what we do. • I do not know if we can help you in the same way that we have helped others. • I do not know if you are interested in those improvements. • I do not know if you are concerned about those areas. • I do not know if you are the right person to speak with. • I do not know if it makes sense for us to talk. • Maybe this is not the right time for you to look at this purchase. • Maybe we are not the right product for you. • Maybe this is more than you need right now.
- 23. When In Doubt, Call It Out Well, it sounds like you guys have done a good job of putting all of the right pieces in place. Maybe it does not make sense for us to spend too much time talking.
- 24. When In Doubt, Call It Out Well, I am a little concerned. You seem very interested in our system, and that is great. But your current system is working pretty well. I am worried that our teams may spend a lot of valuable time, and then you might have trouble getting funding for this because the current system is working pretty well.
- 25. When to Do the Sales Takeaway
- 26. Three Potential Reactions 1. No reaction 2. Confirms disqualification 3. Challenges disqualification
- 27. Why Use the Sales Takeaway • Improve Rapport • Improve Credibility • Improve Quality of Leads • Improve deal momentum • Uncover new information • Improve close rate
- 28. Key Takeaways • Doing the other things right will make closing easy • Having a good sales message will make closing easier • Screening and qualifying will make closing easier • Improve your objection handling to improve your close rate • Focus on the sales process and closing on the right goal • Trial close every step of the way • Strategically use the sales takeaway when appropriate
Editor's Notes
- Pros: Trial closing improves qualifying and deal management by collecting valuable information. This tactic can also improve rapport, as it can sub-communicate positive vibes like confidence, experience, abundance, and putting the prospect’s interests first. Cons: One challenge with this tactic is that it gives the prospect an opportunity to share negative thoughts and gives him more control. If you have not been successful in building interest and rapport and you then invite the prospect to share thoughts, you might not get the answers that you want to hear.
- Pros: This can help to push a prospect along before he can object or change his mind. This may also motivate a prospect who might be in a neutral or on-the-fence position to act. Cons: This level of aggressiveness might sub-communicate negative vibes to the prospect, and this could negatively impact rapport and credibility. This approach could push away a prospect who was in a neutral position.
- Pros: This can help to push a prospect along before he can object or change his mind. This may also motivate a prospect who might be in a neutral or on-the-fence position to act. Cons: This level of aggressiveness might sub-communicate negative vibes to the prospect, and this could negatively impact rapport and credibility. This approach could push away a prospect who was in a neutral position.
- Pros: This tactic displays confidence and can motivate action. Cons: One downside to this tactic is that you are telling the prospect what to do instead of letting the prospect tell us what to do. This can motivate action but we may create action with prospects who are not fully on board and this could decrease the quality of leads.
- Pros: Letting the prospect lead can help to build rapport, as it is a very unthreatening way to interact with prospects. This can also increase the quality of leads as you will know that all of the prospects you are meeting with want to be there and were not pressured to do anything. Cons: One challenge with this tactic is that it gives the prospect more control. If you have not been successful in building interest and rapport and then you give control to the prospect to chose what direction to go in, he might not chose to go in the right direction.