Closing Begins the Relationship Chapter 12 McGraw-Hill/Irwin
Copyright 2007 by The McGraw-Hill Companies, Inc. All rights
reserved. Slide 2 12-2 Main Topics The Tree of Business Life:
Closing When Should I Pop the Question? Reading Buying Signals What
Makes a Good Closer? How Many Times Should You Close? Closing Under
Fire Difficulties With Closing Essentials of Closing Sales 12
Chapter Slide 3 12-3 Main Topics Prepare Several Closing Techniques
Prepare a Multiple-Close Sequence Close Based on the Situation
Research Reinforces These Sales Success Strategies Keys to Improved
Selling The Business Proposition and the Close Closing Begins the
Relationship When You Do Not Make the Sale 12 Chapter Slide 4 12-4
The Tree of Business Life: Closing The Golden Rule Guided by The
Golden Rule: Look for buying signals. Be confident in your
suggested order. Prepare several closes for each call. Do not take
No personally. Remember that a successful close begins your
relationship. You now prove your value with ethical service and
your new relationship. I T C Ethical Service Builds T r u e
Relationships T TT TTTT TTTT Slide 5 12-5 Closing Remember to do
whats best for the customer. Ask yourself, Should they buy this? If
the answer is no, tell them you dont think they really need the
product. If the buyer still wants to buy, let the Golden Rule be
your guide. Slide 6 12-6 When Should I Pop the Question? Closing is
the process of helping people make a decision that will benefit
them. There are no magic phrases and techniques to use in closing a
sale. Close when the prospect is in the _____?___ stage of the
mental buying process. Slide 7 12-7 When Should I Pop the Question?
Closing is the process of helping people make a decision that will
benefit them. There are no magic phrases and techniques to use in
closing a sale. Close when the prospect is in the conviction stage
of the mental buying process. Slide 8 12-8 Before You Close, What
Should Be Done? Ask a trial close Slide 9 12-9 Why Ask a Trial
Close Before You Close? To determine if the prospect is ready to
buy, and To determine if there are: Objections Questions Slide 10
12-10 Lets Review! When Is It Time to Use a Trial Close?* After
making a strong selling point in the presentation After the
presentation but before the close After answering an objection
Immediately before you move to close the sale Slide 11 12-11 Lets
Review! What Does the Trial Close Allow You to Determine? Whether
the prospect likes your products FAB the strong selling point
Whether you have successfully answered the objection Whether any
objections remain Whether the prospect is ready for you to close
the sale Slide 12 12-12 If Objection Arises After the Close*
Prospect raises an objection Response to the objection Use a trial
close Move into your presentation Close the sale Slide 13 12-13
Presentation Discuss Product Present Marketing Plan Explain
Business Proposition Suggest Purchase Selling Process Buyers Mental
Steps Prospecting Preapproach Follow-up & Service Approach
Presentation Trial Close Determine Objections Meet Objections
Desire Conviction Present Marketing Plan Availability, Delivery,
Guarantee, Merchandising, Installation, Maintenance, Promotion,
Training, Warranty Explain Business Prop List Price, Shipping Cost,
Discounts, Financing, ROI, Value Analysis Suggest Purchase Product,
Quantity, Features, Delivery, Installation, Price Money Authority
Desire Action (Purchase) Attention Discussion Sequence Discuss
Product Show Feature Explain Advantage Lead into Benefit Let
Customer Talk Interest Trial Close Close The Parallel Dimensions of
Selling* Slide 14 12-14 Exhibit 12-1: When Is It Time To Close?
Slide 15 12-15 When is it time to close? Close When the Prospect Is
Ready Slide 16 12-16 Reading Buying Signals A buying signal is
anything that a prospect says or does to indicate that he is ready
to buy: Asking questions Asking another persons opinion Relaxing
and becoming friendly Pulling out a purchase order form Carefully
examining merchandise Slide 17 12-17 Exhibit 12-2: Answering a
Prospects Buying Signal Question with a Question Slide 18 12-18
Exhibit 12-3: The Moving Selling Process A positive response to the
trial close indicates a move toward the close. A negative response
means return to your presentation or determine the prospects
objections. Slide 19 12-19 What Makes a Good Closer? Have strong
desire to close each sale Have positive attitude Know their
customers Tailor presentations to meet each ones specific needs
Spend time preparing Are alert ABC Do not stop on first no Slide 20
12-20 What Makes a Good Closer? Ask for the order, andbe quiet
(Shhhhhh)! Must put prospect in position of having to: Make a
decision Speak first Respond to the close Get the order, andmove on
Continuing to talk, may give information that changes buyers mind
Slide 21 12-21 How Many Times Should You Close? You must be able to
use multiple closes. ___________closes is a minimum. You will learn
how without being pushy Three to five 1 2 3 ? ? ? Slide 22 12-22
Closing Under Fire The first no from the prospect isnt necessarily
an absolute refusal to buy. Slide 23 12-23 Closing Under Fire You
must be able to ask a prospect, who may be in a bad mood or may
appear hostile toward you, to buy Slide 24 12-24 Difficulties With
Closing Closing is the easiest part of the presentation.
Salespeople may fail to close because: They are not confident in
their abilities to close. They determine that the prospect does not
need the quantity or type of merchandise or that the prospect
should not buy. They may not have worked hard enough to develop a
customer profile and customer benefit plan. Slide 25 12-25
Essentials of Closing Sales Be sure your prospect understands what
you say Always present a complete story to ensure understanding
Tailor your close to each prospect (80/20 Rule) Everything you do
and say should consider the customers point of view Never stop at
the first no Learn to recognize buying signals Slide 26 12-26
Essentials of Closing Sales, cont Before you close, attempt a trial
close. After asking for the order be silent. Set high goals for
yourself and develop a personal commitment to reach your goals.
Develop and maintain a positive, confident, and enthusiastic
attitude toward yourself, your products, your prospects, and your
close. Slide 27 12-27 Exhibit 12-5: Twelve Keys to a Successful
Closing Slide 28 12-28 Twelve Keys to a Successful Closing The Last
Key to Successful Closing is to: Leave the Door Open. Act as a
Professional. How Can That Be Done? Slide 29 12-29 Essentials of
Closing Sales, cont Always place the customers needs first. Treat a
customer as you would your grandmother. Slide 30 12-30 Essentials
of Closing Sales, cont Be a person of character, integrity, and
trustworthiness. If your product will help the person, then you
will be back another day. Slide 31 12-31 Prepare Several Closing
Techniques Be able to adapt your planned presentation to any
prospect or situation that arises Determine your prospects
situation. Understand your prospects attitude toward your
presentation. Be prepared to select instantly a closing technique
based on your prospect. Slide 32 12-32 Exhibit 12-7: Techniques for
Closing the Sale: Which Close Should Be Used? Slide 33 12-33
Prepare Several Closing Techniques, cont The alternative-choice
close is an old favorite. The assumptive close assumes the prospect
will buy. The compliment close inflates the ego. The
summary-of-benefits close is most popular. The continuous-yes close
generates positive responses The minor-points close is not
threatening. The T-account or balance sheet close was Ben Franklins
favorite. Slide 34 12-34 The standing-room-only close gets action
The probability close The negotiation close The technology close
Prepare Several Closing Techniques, cont Skip videoVideo Help
0-50%? 50-85%? 85-100%? Slide 35 12-35 Example: Would you prefer
the Xerox 6200 or 6400 copier? 1. The Alternative-Choice Close is
an Old Favorite Would you prefer the Xerox 6200 or 6400 copier?
Study this question it assumes: The customer has a desire to buy
one of the copiers. The customer will buy. It allows the customer a
preference. It provides a choice between products, not between a
product and nothing. By presenting a choice, you receive a yes
decision or uncover objections. Slide 36 12-36 Example: Would you
prefer the Xerox 6200 or 6400 copier?, cont Im not sure, says the
customer (still in the desire stage). Continue with your FABs.
Slide 37 12-37 If you see the customer likes both 6200 and 6400 and
appears indecisive, you can ask: Is there something you are unsure
of? This question probes to find out why your prospect is not ready
to choose. Example: Would you prefer the Xerox 6200 or 6400
copier?, cont Slide 38 12-38 Prepare Several Closing Techniques 2.
Assumptive Close assumes the prospect will buy 2. Ill call your
order in tonight., or Ill have it shipped to you tomorrow. 3.
Compliment Close by complimenting them, you get them to listen and
respond favorably to your presentation Slide 39 12-39 Prepare
Several Closing Techniques 2. Summary of Benefits Close summarize
the products benefits in a positive manner so that the prospect
agrees with what you are saying; then ask for the order 1) Three
basic steps 2) Determine key benefits that interest prospect during
presentation 3) Summarize these benefits 4) Make a proposal 3.
Continuous-yes Close like summary close; instead of summarizing
benefits, develop a series of benefit questions which prospect must
answer Slide 40 12-40 Prepare Several Closing Techniques 6.
Minor-points Close similar to alternative choice close; except it
asks prospect to make a low-risk decision on a minor, usually
low-cost element of a single product such as delivery dates,
optimal features, etc. 7. T-account or Balance Sheet Close based on
the process people go through when making a decision; weighing cons
against pros. Same as debit and credits, act or no act, etc.
Modified T only lists reasons to buy (Continuous. 8. Standing Room
Only Close indicate if they do not act now, they may not be able to
buy in the future should only be used in complete honesty Slide 41
12-41 Prepare Several Closing Techniques 6. Probability Close ask
prospects who are delaying what the probability of doing business
at a later time is. This permits prospects to focus on and discover
own hidden objections. Three categories of prospects response 1.
More than 50% but less than 85% for buying 2. More than 85% but
less than 100% for buying 3. Les than 50% for buying Slide 42 12-42
Prepare Several Closing Techniques 10. Negotiation Close finds ways
for everyone to have a fair share 11. Technology Close incorporates
appropriate technology to close sale. Slide 43 12-43 There are
Eleven Closing Techniques in This Chapter, Each: Is different Can
be used with other closing techniques Helps you be a better
communicator Helps you better serve others Should be carefully
studied Slide 44 12-44 Which Closing Technique Should I Use?* * To
answer that question you should first: 1. Determine your approach
2. Create your presentation, then 3. Determine how best to close
Slide 45 12-45 Assume You Have Completed Your Presentation and are
Getting Ready to Close You remember to use a trial close before you
ask the person to buy if objections or questions arise, what phase
of the prospects mental steps is the buyer probably in? (Choose
one) Attention Interest Desire Conviction Purchase Slide 46 12-46
The buyer is in the desire stage. Which stage should the buyer be
in before you close? (Choose One) Attention Interest Desire
Conviction Purchase Assume You Have Completed Your Presentation and
are Getting Ready to Close, cont Slide 47 12-47 Ideally, the
salesperson should wait for signs that the person is in the
conviction stage because a buyer in this stage typically: Has a
strong conviction that you can be trusted Feels the product will
fulfill needs or solve problems Will reveal real concerns due to
trust Assume You Have Completed Your Presentation and are Getting
Ready to Close, cont Slide 48 12-48 If You Close and Receive an
Objection, What Should You Do? Find out what the objection is.
Slide 49 12-49 After You Find Out What the Objection Is and Answer
It, What Should You Do Next? Ask a trial close to determine if you
have overcome the objection. Slide 50 12-50 If You Have Closed, Had
an Objection Arise and Effectively Handled the Objection, What
Should You Do Next? Close again! This is why you need a
multiple-closing sequence. Slide 51 12-51 Prepare a Multiple-Close
Sequence Different closing techniques work best for certain
situations. Multiple closes incorporate techniques for overcoming
objections. Slide 52 12-52 Prepare a Multiple-Close Sequence, cont
By keeping several closes ready in any situation, you are in a
better position to close more sales. Multiple closes incorporate
techniques for overcoming objections. Slide 53 12-53 Exhibit 12-9a:
Multiple Closes Incorporating Techniques for Overcoming Objections
Slide 54 12-54 Exhibit 12-9b: Multiple Closes Incorporating
Techniques for Overcoming Objections Slide 55 12-55 Close Based on
the Situation Different closing techniques work best for certain
situations: Customer is indecisive Customer is an expert or
egotistical Customer is hostile Customer is a friend Customer has
predetermined beliefs Customer is greedy, wants a deal Slide 56
12-56 Exhibit 12-10: Examples of Closing Techniques Based on
Situations Slide 57 12-57 Research Reinforces These Sales Success
Strategies Common salesperson mistakes resulting in unsuccessful
sales calls: Tells instead of sells, doesnt ask enough questions
Over-controls the call, asks too many closed-end questions Doesnt
respond to customer needs with benefits Doesnt recognize needs,
gives benefits prematurely Doesnt recognize or handle negative
attitudes effectively Makes weak closing statements, doesnt
recognize when or how to close Slide 58 12-58 Keys to Improved
Selling Ask questions to gather information and uncover needs.
Recognize when a customer has a real need and how the benefits of
the product or service can satisfy it. Establish a balanced
dialogue with customers. Recognize and handle negative customer
attitudes promptly and directly. Use a benefit summary and an
action plan requiring commitment when closing. Slide 59 12-59 The
Business Proposition and the Close The Business Proposition Chap 5
costs, markups, ROI, etc. Follows FABs and Marketing Plan Use a
visual aid to close Slide 60 12-60 Closing Begins the Relationship
When you make a sale, you change the person or organization from a
prospect to a customer. You have helped the customer Now, how do
you earn the opportunity to sell the customer in the future? Make
sure you have followed the Golden Rule in selling the correct
product and providing exceptional service Slide 61 12-61 Know that
you cannot always sell everyone. Dont take buyers denial
personally. Be courteous and cheerful. When You Do Not Make the
Sale, Exhibit 12-12 Slide 62 12-62 Act as a professional An adult
sales- person Leave the door open. When You Do Not Make the Sale,
Exhibit 12-12 Slide 63 12-63 If After Your Presentation You
Received a Positive Response to Your Trial Close, What Would You
Do?* Approach Presentation Trial Close Determine Objections Meet
Objections Trial Close Close Slide 64 12-64 If After Your
Presentation You Received a Negative Response to Your Trial Close,
What Would You Do?* Approach Presentation Trial Close Determine
Objections Meet Objections Trial Close Close Slide 65 12-65 If
After You Meet the Objection You Received a Positive Response to
Your Trial Close, What Would You Do?* Approach Presentation Trial
Close Determine Objections Meet Objections Trial Close Close Slide
66 12-66 Approach Presentation Trial Close Determine Objections
Meet Objections Trial Close Close If After You Meet the Objection
You Received a Negative Response to Your Trial Close, What Would
You Do?* Slide 67 12-67 Approach Presentation Trial Close Determine
Objections Meet Objections Trial Close Close If After You Close You
Receive a Negative Response, What Would You Do?* Slide 68 12-68
Summary of Major Selling Issues Be prepared to logically and
clearly respond to your prospects objections. Basic points to
consider in meeting objections: Plan for them Anticipate and
forestall them Handle them as they arise Listen to what is said
Respond warmly and positively Make sure you understand Respond
using an effective communication technique Slide 69 12-69 Summary
of Major Selling Issues, cont Objections are classified as hidden,
stalling, no- need, money, product, and source. Objections help you
determine if you are on the right track to uncover prospects needs
and if they believe your product will fulfill those needs.
Objections show inadequacies in a salespersons presentation or
product knowledge. Closing is the process of helping people make
decisions that will benefit them. Constantly look and listen for
buying signals from your prospect. Slide 70 12-70 Tailor your close
to each prospects personality. Close in a positive, confident, and
enthusiastic manner. Plan and rehearse closing techniques. A good
closer has a strong desire to close each sale. Stay cool, determine
any objections, try to close again. You cant make a sale until you
ask for the order! Summary of Major Selling Issues, cont Slide 71
End of Chapter 12 Chapter 12 McGraw-Hill/Irwin Copyright 2007 by
The McGraw-Hill Companies, Inc. All rights reserved.
