21 chapter 14 student

Wednesday, November 6th

•Chapter 14 – Closing & RP2

Monday, November 11th

•NO CLASS

Wednesday, November 13th

•Chapter 9 – Building a Customer Base

Where we are and where we are goingSection 100 – Monday/Wednesday

ROLE PLAY 2 WEEK OF NOV 18

Professional Selling: MKT 3580Chapter 14: Closing & Confirming the Partnership

Learning Objectives Methods for closing the sale Recognizing closing clues What to do when the buyer says “yes” or “no”

Attitude toward Closing

Be empathetic

Move customer from indecision to commitment

Correct closing method reduces pressure

Closing should be thought of as the beginning of a long-term partnership.

Think about it: once you’ve successfully solved the problem, asking for the order is the next logical step

Planning How to Close

Ask for the Order

Most buyers will not ask you to place an order

You have to ask for it Number one reason salespeople don’t?

FEAR Of damaging the partnership

Of upsetting or angering the buyer

Of embarrassment

Buyer Anxiety & Reluctance

Buying can cause emotional stress Aka buyer’s remorse Examples?

Loss of options Fear of making a mistake Social or peer pressure

Guidelines for Closing the Sale1. Focus on dominant buying motives

Which benefit interests buyer the most

2. Longer selling cycles require incremental commitments Like Role Play 1 – can we have a second meeting

3. Negotiate tough points before close What’s your product’s Achilles heel? Address it up front

4. Avoid surprises at close “Did I mention we have a $1,000 installation fee?”

5. Ask for order more than once Buyers often say “No No No No No….um OK”

Recognize Closing Clues: Verbal

Questions “Do you provide a warranty?”

“How soon would you be able to deliver?”

Recognitions Positive statement about your product

“We have been looking for a faster version.”

Requirements Some buying condition that must be met before

purchase.

“We would need this up and running by Christmas.”

Can be subtle and missed if not alert

Recognize Closing Clues: Nonverbal What are some signals that show J.S.

may be interested in your product?

Facial expression changes

Examines product literature intently

Leans toward you

Prospect nods agreement

Specific Closing Methods Trial close

Direct appeal

Assumptive close

Summary of benefits

Special concession

Multiple options

Balance sheet

Management close

Combination

Trial Close All about reading

cues/timing “Can we ship in May?” “Would you like to start

on the first of the month?”

Don’t be too aggressive Use if a particular benefit

really strikes interest

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 Direct question encourages a direct answer

Assumptive Close “Take-it-for-granted” close Only use when you are certain the customer

has decided to buy Comes near the end of the presentation “Because this shipment

can meet your timetable, let’s go ahead and placeyour order.”

Special Concession Close Extra incentive for acting now “If you sign today, I’ll give you X”

Sale price Quantity discount Liberal credit plan

Use with care because? Can lose credibility Seems transactional

Summary-of-Benefits Close Reemphasize value-added buyer benefits

Step-by-Step close “That’s $25 for each lunch, four conference

rooms, and audio/visual support, plus our special meeting package. Can I make this reservation for you?”

Multiple Options Close To pull off a multiple option close

1. Configure more than one product solution

2. Present several options to customer

3. Remove less-appealing options

4. Stop when ample selection presented In what types of buying situations might this be

effective?

Balance Sheet Close Outlines reasons to buy and not to

buy Engage customer in this process

Can be fun?

Sometimes needed if there is a ton of info

Management Close Involves senior executives or sales manager

Upper-level managers add value Makes prospect feel important

Bring in the Big

Guns

Create a Closing Worksheet

When the Buyer Says No Learn to manage disappointment We don’t take “No” for an answer? When a sale is lost:

Make sure the deal is really dead

Review chain of events; identify weaknesses

Interview the client

Obtain feedback to improve

Be positive regardless of result

Confirm sale and partnership Reassure customer of a good decision Reduce buyer’s remorse (regret, fear, anxiety about

sale)

Compliment buyer on wise decision Sign contract Thank customer for order

When the Buyer Says YesConfirmation Step