Closing the Sale and Confirming the Partnership

Selling Today 10th Edition CHAPTER Manning and Reece 14 Closing the Sale and Confirming the Partnership

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

Six-Step Presentation Plan • Approach (Chapter 10) • Presentation (Chapter 11) • Demonstration (Chapter 12) • Negotiation (Chapter 13) • Close • Servicing the Sale 

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.”

PLUS Vision

Strategic PlanningLeads to Actions

Strategic Planning 14.2 FIGURE

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

Actions During Close • Recognize closing clues • Focus on customer’s greatest interest • Handle tough points early • Avoid surprises • Keep prospect involved • Display confidence • Accommodate buyer’s communication style • Ask for order more than once

Buyer Anxieties • Review the value proposition from the prospect’s view • Reluctance can bedue to: • Loss of options • Fear of making a mistake • Social or peer pressures

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

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?

Ask for the Order See a preview at:learn.com

Verbal clues Questions Recognitions Requirements Nonverbal clues Facial expression changes Prospect nods agreement Leans toward you Examines product literature intently Closing Clues

Trial close Summary-of-benefits Assumptive Special concession Multiple options Balance sheet Management Direct appeal Combination Specific Closing Methods

Closing Worksheet 14.3 FIGURE

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?”

Trial Close Opportunities 14.4 FIGURE

Summary-of-Benefits Close • Reemphasize value-added buyer benefits • “That’s $25 for each lunch, four conference rooms, and audio/visual support, plus our specialmeeting package.Can I make thisreservation for you?”

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, let’s goahead and placeyour order.”

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

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

Balance Sheet Close • Outlines reasons to buy and not to buy • Engage customer in this process Reasons to buy Reasons not to buy

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

Direct Appeal Close • Ask for the order in a straightforward manner • Should not come too early • Gain prospect’s respect first • After asking,remain quiet

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

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

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

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

Confirmation Step • Reassure customer • Confirm sale andpartnership • Reduce buyer’s remorse—forms of regret, fear, anxiety about sale • Compliment buyer on wise decision • Thank customer for order

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

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?

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

Closing the Sale and Confirming the Partnership