G. Best Practise – Closing the Sale • Objective: To close the sale in the shortest amount of time possible (average 4-6 weeks) • Strategies: • Engage the decision maker early in the process • Create a relationship and become their new best friend • Create a sense of urgency and consider setting decision making deadlines • Become their “accessible expert” – be responsive • Actions: • Set a preliminary discussion prior to the face to face to gain information – ask questions • Meet with the decision maker and discuss the business benefits around the Les Mills system • Uncover concerns & hesitations • Ask for the sale – not obviously – but consent around the necessity of the system to improve their business – sell on value • Discuss next steps – leave agreement for review – set definite follow-up date if the agreement is not signed on the spot • Provide regular follow ups until a decision is finalized – don’t lose sight
G. Best Practise – Closing the Sale • Timing: • Set initial meeting with decision maker to discuss business benefits of the Les Mills system • Conduct thorough needs analysis • Determine the facility’s timeline • Create a sense of urgency based on the results of needs analysis • Explain the Les Mills system implementation timeline • Receive confirmation facility is ready to move forward • Close the sale with 4-6 weeks from the time of initial engagement • 5. Cost: • Time and Travel • Master Classes • Incentives • Free month(s) at time of start up • Initial training incentives • Equipment financing • Event admission tickets (quarterlies)
G. Best Practise – Closing the Sale • 6. Result: • At least a 60-70% closing ratio on all face-to-face appointments • Learnings: • Initial meetings without the decision maker (i.e. GFM) prolong the closing cycle time • Be patient but persistent without being a “Stalker”! • Follow ups should include invitations to upcoming value add industry events (webinars, seminars, etc.) • Follow ups should include a gentle reminder about what is being missed by their lack of action i.e. missed opportunities around seasonal launches • Always confirm solid next step actions within every correspondence i.e. next follow-up date, time etc.
G. Best Practise – Closing the Sale • 5 Things to Avoid…. • Don’t try to close too early without doing a thorough needs assessment • Don’t give away the farm just to get a few eggs • Don’t become jaded by past experiences either positive or negative • Don’t judge a book by it’s cover • Don’t forget that selling is more about listening than it is about talking “The best salespeople treat each new prospect as if they were the first and most exciting customer in town”
G. Best Practise – Closing the Sale • Role Play – • Last month you met with Ernie Frietag – the Owner of a new gym which is considering integrating Les Mills programs into their schedule. During your initial meeting, Ernie seemed very interested in moving forward. You arranged a masterclass for his facility, invited his team to a GFM happening in his area, and encouraged him to listen into an LMI webinar being held that month. • Ernie took you up on all offers, and afterwards appeared to be ready to sign on the dotted line. • Just when you thought a signed agreement was on its way back to you, the trail has gone cold. How do you re-engage Ernie?