14-1 Closing the Sale and Confirming the Partnership Selling Today 10 th Edition CHAPTER Manning and...

14-1

Closing the Sale and Confirming the Partnership

Selling TodaySelling Today10th Edition

CH

AP

TE

R Manning and Reece

14

14-2

Six-Step Presentation PlanSix-Step Presentation Plan

1. Approach (Chapter 10)

2. Presentation (Chapter 11)

3. Demonstration (Chapter 12)

4. Negotiation (Chapter 13)

5. Close

6. Servicing the Sale

14-3

Strategic Planning for CloseStrategic 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

14-4

Actions During CloseActions During Close

• Recognize closing clues

• Focus on customer’s greatest interest

• Handle tough points _____

• Avoid surprises

• Keep prospect _____

• Display confidence

• Accommodate buyer’s communication style

• Ask for order more than once

14-5

Buyer AnxietiesBuyer Anxieties

• Review the value proposition from the prospect’s view

• Reluctance can bedue to:

• Loss of ____

• Fear of making a mistake

• Social or peer _________

14-6

Guidelines for Closing SalesGuidelines for Closing Sales

• Focus on dominant buying motives

• Longer selling cycles require multiple commitments

• Negotiate tough ______ before close

• Avoid surprises at close

• Display ________ at close

• Ask for order more than once

• Recognize closing clues

14-7

Closing CluesClosing CluesVerbal clues

• Questions

• Recognitions

• Requirements

Nonverbal clues

• Facial expression changes

• Prospect nods agreement

• Leans toward you

• Examines product literature intently

14-8

Specific Closing MethodsSpecific Closing Methods

• Trial close

• Summary-of-benefits

• Assumptive

• Special concession

• Multiple options

• Balance sheet

• Management

• Direct appeal

• Combination

14-9

Closing Worksheet

Closing Worksheet

FIGURE 14.3

14-10

Trial CloseTrial 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?”

14-11

Trial Close Opportunities

Trial Close Opportunities

FIGURE 14.4

14-12

Summary-of-Benefits CloseSummary-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?”

14-13

Assumptive CloseAssumptive Close

• Subtle way to ______________, assuming customer will buy

• Comes near the end of the presentation

• “Because this shipment can meet your timetable, let’s goahead and placeyour order.”

14-14

Special Concession CloseSpecial Concession Close

• Extra incentive for acting now

• Sample inducements

• Sale price

• Quantity discount

• Liberal credit plan

• Use with care

14-15

Multiple Options CloseMultiple Options Close

• Present several options to customer

• Steps:

• Configure more thanone product solution

• Stop when ampleselection presented

• Remove less-appealing options or products

14-16

Balance Sheet CloseBalance Sheet Close

• Outlines reasons to buy and not to buy

• Engage customer in this process

Reasons to buy

Reasons not to buy

14-17

Management CloseManagement Close

• Involve senior executives or sales manager

• Upper-level managers add value

• Makes prospect feel ___________

14-18

Direct Appeal CloseDirect Appeal Close

• Ask for the order in a straightforward manner

• Should not come too early

• Gain prospect’s respect first

• After asking,remain quiet

14-19

Combination ClosesCombination Closes

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

14-20

Practice the ClosePractice 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

14-21

Create Your OwnClosing WorksheetCreate Your Own

Closing WorksheetInclude the following:

• Several customer closing clues (verbal and nonverbal)

• An appropriate closingmethod for each

• A subsequent closing statement for you to use

14-22

Confirmation StepConfirmation 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

14-23

When Buyer Says NoWhen 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

14-24

Facing CompetitionFacing Competition

• Some buyers want to look at competing products/services

• Do all possible to helpcustomer make anintelligent comparison

• Stress areas whereyour product is superior