13-1. Closing Begins the Relationship Chapter 13 Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.

13-1

Closing Begins the RelationshipClosing Begins the RelationshipClosing Begins the RelationshipClosing Begins the Relationship

Chapter

Chapter

13

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin

Chapter

Chapter

1313-3

Main TopicsMain TopicsMain TopicsMain Topics

The Tree of Business Life: ClosingWhen Should I Pop the Question?

Reading Buying SignalsWhat Makes a Good Closer?

How Many Times Should You Close?Closing Under Fire

Difficulties With ClosingEssentials of Closing Sales

Chapter

Chapter

1313-4

Main TopicsMain TopicsMain TopicsMain Topics

Prepare Several Closing TechniquesPrepare a Multiple-Close Sequence

Close Based on the SituationResearch Reinforces These Sales Success Strategies

Keys to Improved SellingThe Business Proposition and the Close

Closing Begins the RelationshipWhen You Do Not Make the Sale

Chapter

Chapter

1313-5

13-6

The Tree of Business Life: Closing

Guided by The Golden The Golden RuleRule: 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

IT C

Ethi

cal Service

Builds

T r

u e

Relationships

TT T

T T T TT T T T

13-7

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

13-8

Before You Close, What Should Be Done?

Ask a trial close

13-9

Why Ask a Trial Close Before You Close?

To determine if the prospect is ready to buy, and

To determine if there are:ObjectionsQuestions

13-10

Let’s 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

13-11

Let’s Review! What Does the Trial Close Allow You to Determine?

Whether the prospect likes your product’s 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

13-12

If Objection Arises After the Close*

Prospect raises an objection

Prospect raises an objection

Response to the objection

Response to the objection Use a trial closeUse a trial close

Move into your presentation

Move into your presentation

Close the saleClose the sale

13-13

Selling Process Buyer’s Mental Steps Prospecting

Preapproach

Follow-up & Service

Approach

Presentation

Trial Close

Determine Objections

Meet Objections

Desire

Conviction

Present Marketing PlanAvailability, Delivery,Guarantee, Merchandising,Installation, Maintenance,Promotion, Training, Warranty

Explain Business PropList Price, Shipping Cost,Discounts, Financing, ROI,Value Analysis

Suggest PurchaseProduct, Quantity, Features,Delivery, Installation, Price

MoneyAuthorityDesire

Action (Purchase)

Attention

Discussion Sequence

PresentationDiscuss ProductPresent Marketing PlanExplain Business PropositionSuggest Purchase

Discuss ProductShow FeatureExplain AdvantageLead into BenefitLet Customer Talk

Interest

Trial Close

Close

The Parallel Dimensions of Selling*

13-14

Exhibit 13-1: Close When the Prospect is Ready

13-15

Reading Buying Signals

A buying signal is anything that a prospect says or does to indicate that he is ready to buyAsking questionsAsking another person’s opinionRelaxing and becoming friendlyPulling out a purchase order formCarefully examining merchandise

13-16

Exhibit 13-2: Answering a Prospect’s Buying Signal Question with a Question

13-17

Exhibit 13-3: 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 prospect’s objections

13-18

What Makes a Good Closer?

A good closer:Asks for the order and then remains quietGets the order and moves on!

13-19

How Many Times Should You Close?

You must be able to use multiple closes Three closes is a minimum

You will learn how without being pushy

13-20

Closing Under Fire

The first “no” from the prospect isn’t necessarily an absolute refusal to buy

13-21

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

13-22

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 Everything you do and say should consider

the customer’s point of view Never stop at the first “no” Learn to recognize buying signals

13-23

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

13-24

Exhibit 13-5: Twelve Keys to a Successful Closing

13-25

The Last Key to Successful Closing is to “Leave the Door Open. Act as a Professional.” How Can That Be Done?*

Always place the customer’s needs first Treat a customer as you would your

grandmother Be a person of character, integrity, and

trustworthy If your product will help the person, then you

will be back another day

13-26

Exhibit 13-7: Techniques for Closing the Sale: Which Close Should be Used?

13-27

Example: 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

13-28

“Would you prefer the Xerox 6200 or 6400 copier?”

“I’m not sure,” says the customer (still in the desire stage)

Continue with your FABs

13-29

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

“Would you prefer the Xerox 6200 or 6400 copier?”

13-30

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

13-31

Which Closing Technique Should I Use?*

*To answer that question you should first:Determine your approachCreate your presentation, thenDetermine how best to close

13-32

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 prospect’s mental steps is the buyer probably in?* (Choose one)Attention InterestDesireConvictionPurchase

13-33

The buyer is in the desire stage Which stage should the buyer be in before

you close?* (Choose One)Attention InterestDesireConvictionPurchase

Assume You Have Completed Your Presentation and are Getting Ready to Close, cont…

13-34

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 trustedFeels the product will fulfill needs or solve

problemsWill reveal real concerns due to trust

Assume You Have Completed Your Presentation and are Getting Ready to Close, cont…

13-35

If You Close and Receive an Objection, What Should You Do?

Find out what the objection is

13-36

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

13-37

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

13-38

The alternative-choice close is an old favorite The assumptive close 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

Franklin’s favorite

Prepare Several Closing Techniques

13-39

Prepare Several Closing Techniques, cont…

The standing-room-only close gets action The probability close The negotiation close The technology close

Skip video Video Help

13-40

13-41

Prepare a Multiple-Close Sequence

Different closing techniques work best for certain situations

Multiple closes incorporate techniques for overcoming objections

13-42

Prepare a Multiple-Close Sequence, cont…

By keeping several difficult closes ready in any situation, you are in a better position to close more sales

Multiple closes incorporate techniques for overcoming objections

Skip video Video Help

13-43

13-44

Exhibit 13-9a: Multiple Closes Incorporating Techniques for Overcoming Objections

13-45

Exhibit 13-9b: Multiple Closes Incorporating Techniques for Overcoming Objections

13-46

Close Based on the Situation

Different closing techniques work best for certain situationsCustomer is indecisiveCustomer is an expert or egotisticalCustomer is hostileCustomer is a friendCustomer has predetermined beliefsCustomer is greedy, wants a deal

13-47

Exhibit 13-10: Examples of Closing Techniques Based on Situations

13-48

Research Reinforces These Sales Success Strategies

Common salesperson mistakes resulting in unsuccessful sales calls Tells instead of sells, doesn’t ask enough questions Over-controls the call, asks too many closed-end questions Doesn’t respond to customer needs with benefits Doesn’t recognize needs, gives benefits prematurely Doesn’t recognize or handle negative attitudes effectively Makes weak closing statements, doesn’t recognize when or

how to close

13-49

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

13-50

The Business Proposition and the Close

The business proposition Use a visual aid to close

13-51

Know that you cannot always sell everyone Don’t take buyer’s denial personally Be courteous and cheerful Leave the door open

When You Do Not Make the Sale

13-52

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

13-53

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

13-54

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

CloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseClose

13-55

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?*

13-56

Approach

Presentation

Trial Close

Determine Objections

Meet Objections

Trial Close

Close

If After You Close You Receive a Negative, What Would You Do?*

13-57

Summary of Major Selling Issues

Be prepared to logically and clearly respond to your prospect’s 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

13-58

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 salesperson’s 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

13-59

Tailor your close to each prospect’s 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 can’t make a sale until you ask for the order!

Summary of Major Selling Issues, cont…

13-60

Video Help:

Video One

The video should start automatically. If it does not, you must move the mouse to the

middle of the screen. When a hand icon appears the video is ready.

Click once anywhere on the screen to start video. Click once during playback to pause/unpause video. Press the space bar twice to stop video and

continue presentation. When video is over, click to continue presentation.

Video Two