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Closing the Deal

Closing the Deal. By Kathy Yeager Contract Training Edge 913-593-5347 kyeager@ctedge.net www.ctedge.net. The Proposal. Compile your notes and determine the best solution for the company needs Lead with a cover letter Success Indicators Solutions in phases

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Closing the Deal

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  1. Closing the Deal By Kathy Yeager Contract Training Edge 913-593-5347 kyeager@ctedge.net www.ctedge.net

  2. The Proposal • Compile your notes and determine the best solution for the company needs • Lead with a cover letter • Success Indicators • Solutions in phases • Give solution, timeframe, pricing • You indicated a successful intervention would include the following success indicators: • Less turnover • 20% less waste • Meeting agendas • Better morale

  3. The Proposal • Proposal Sections: • Cover Letter • Proposal body with solutions • Table of proposed blended learning • Bios of consultants • Pricing table • College Information • Bound and delivered to the customer for face-to-face presentation

  4. Diagnosing/Upselling • Sell phases of blended learning • Promote assessment, on-line learning, certificate programs, credit classes, customized curriculum as needed • The company’s pain will dictate the solution and additional reinforcement, review classes later. • Upsell using coaching and consulting

  5. Deliver the Proposal • Pre-arrange the meeting • Bring copies of the proposal for the decision-makers • If large group, prepare a PowerPoint with their company logo and yours • Be ready to handle objections • Have value-added options ready if needed • If you have done your homework and listened for need, the close rate will increase.

  6. Set an Objective for Each Meeting • Each meeting should have a closing objective that is specific, measureable and appropriately aggressive. • I will get a list of key decision-makers • I will get a copy of the competitor’s proposal • I will obtain a description of the customer’s problem • I will ask for the business • Never go to a meeting without determining the outcome you want to achieve

  7. ABC-Always Be Closing • Feedback from the customer • How does that sound? • How would that work? • What do you think about…..? • Watch eye contact and body language • Are they listening? • Are they nodding? • Are they looking down and at their watch? • Are they leaning forward?

  8. Know Your Style • Dominance – Confident, competitive, results- and action-oriented, “doers” demanding, take control. Example is Donald Trump • Influencing – Friendly, outgoing, emotional, “talkers”, expressive, people-oriented, high need to connect to other people. Example is Bill Cosby • Steadiness – Loyal, good listener, stable, needs security, supportive, dependable, harmony. Mother Teresa • Competency – Cautious, calculated, analytical, detailed, quality-oriented, follows guidelines, doesn’t show emotions. Mr. Spock

  9. Identify Your Customer’s Style • Dominance • Be direct • Be concise, to the point • Answer what, not how • Bottom line • Influencing • Spare the details • Socialize • Follow up • Show excitement • Steadiness • Earn their trust • Slow and easy • Answer all questions • Reassure • Competency • Proof and testimonial • Prepared and structured • Answer how • Address disadvantages early

  10. Adjust Your Style • D Communicating to a.. • D – Be yourself • I – Be prepared to socialize • S – Slow down, share information, don’t push • C – Provide proof/facts • I Communicating to a… • D – Be businesslike, don’t initiate small talk • I – Remember to ask for an outcome or result • S – Earn trust, don’t become overly friendly • C – Stick to the facts and proof

  11. Adjust Your Style • S Communicating to a …. • D – Show confidence • I – Provide social time • S – Reassure • C – Use evidence; answer all questions • C Communicating to a .. • D – Concentrate on what not how • I – Hit the high points • S – Give them time to digest the info • C – Remember to take action

  12. Signs They Are Ready to Close • Think more and talk less • Smiling, nodding yes • Repeating positive words • Favorable responses • Ask a lot of questions

  13. Types of Closes • Peace of Mind Close • Call to Action Close • I’ll Think It Over Close • Ben Franklin Close • Assumptive Close • Puppy Dog Close • Group Sales Presentation

  14. Close With Confidence • Summarize • Final Check • Ask for the Business • Conclude with Confidence • Follow up Immediately

  15. Value-added services if needed • Pre and post testing • Executive breakfast • Volume discounts • Gift certificate to publics • One free hour of consulting • Internal coaching • Free public seminars • Pilot program for executives • Offer coaching at no charge

  16. How to close more business • Utilize success indicators • Always determine next steps • Do what you promise • Make sure you have covered the need, offered a solution and have buy-in from the decision maker • Value-added services in back pocket • Bundle pricing • Solution is tied to the company mission, vision and values

  17. Handling Objections • This is more money than I thought it would be……. • We don’t have a budget for this until next year…… • I can’t let my employees off work for six hours for this training…… • We can get this same program cheaper from XYX consultants…………. • Can we do the training but not buy the books?….. • Why does this training cost so much? Isn’t your college taxpayer funded?........

  18. What are Objections? • Opportunities • The customer simply wants more information to help make a buying decision • Anticipate objections and be ready with concrete answers • Offer value-added services if needed

  19. Determine Next Steps • Needs more hard copy information • Needs to see the SME • Needs references • Needs to wait until new fiscal year • Needs to compare to other proposals • Ready to close and sign contract • Never leave a meeting without determining NEXT STEPS!

  20. Updating Your Action Plan • Record status in CRM System • Update Pipeline Report • Place next steps in your Outlook or Calendar • If closed—proceed to contract and fulfillment

  21. Final Thoughts • Always Be Closing • Understand the customer’s buying style • Use trial closes • Uncover the true need • Hand deliver the proposal • Talk only to the decision-maker • Create a spreadsheet on the pricing • Ask for the business • Have value-added services available • Always determine next steps

  22. For More Information Kathy Yeager Contract Training Edge 913-593-5347 kyeager@ctedge.net www.ctedge.net

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