Closing the Sale and Confirming the Partnership

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

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

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 _____ • Avoid surprises • Keep prospect _____ • 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 ____ • Fear of making a mistake • Social or peer _________

Guidelines 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

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 ______________, 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 ___________

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

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

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