Transcript Slide 1
CHAPTER 14 10th Edition Selling Today Manning and Reece Closing the Sale and Confirming the Partnership 14-1 Six-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 14-2 Attitude Toward Closing “Some closing methods can move the customer from indecision to commitment. When these methods are used effectively, the prospect will not feel pressured.” “Closing should be thought of as the beginning of a long-term partnership.” 14-3 FIGURE 14.2 Strategic Planning 14-4 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 14-5 Actions During Close • Recognize closing clues • Focus on customer’s greatest interest • Handle tough points early • Avoid surprises • Keep prospect involved • Display confidence • Accommodate buyer’s communication style • Ask for order more than once 14-6 Buyer Anxieties • Review the value proposition from the prospect’s view • Reluctance can be due to: • Loss of options • Fear of making a mistake • Social or peer pressures 14-7 Guidelines for Closing Sales • Focus on dominant buying motives • Longer selling cycles require multiple commitments • Negotiate tough points before close • Avoid surprises at close • Display confidence at close • Ask for order more than once • Recognize closing clues 14-8 Closing Clues Verbal clues Nonverbal clues • Questions • Facial expression changes • Recognitions • Requirements • Prospect nods agreement • Leans toward you • Examines product literature intently 14-9 Specific Closing Methods • Trial close • Multiple options • Summary-ofbenefits • Balance sheet • Assumptive • Direct appeal • Management • Special concession • Combination 14-10 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 down payment be possible?” 14-11 Summary-of-Benefits Close • Reemphasize value-added buyer benefits • “That’s $25 for each lunch, four conference rooms, and audio/visual support, plus our special meeting package. Can I make this reservation for you?” 14-12 Assumptive Close • Subtle way to ask for decision, assuming customer will buy • Comes near the end of the presentation • “Because this shipment can meet your timetable, let’s go ahead and place your order.” 14-13 Special Concession Close • Extra incentive for acting now • Sample inducements • Sale price • Quantity discount • Liberal credit plan • Use with care 14-14 Multiple Options Close • Present several options to customer • Steps: • Configure more than one product solution • Stop when ample selection presented • Remove less-appealing options or products 14-15 Management Close • Involve senior executives or sales manager • Upper-level managers add value • Makes prospect feel important 14-16 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 14-17 Combination Closes • Sales person simply combines two or more close methods for effectiveness 14-18 Practice the Close Make these closing methods work better via practice: • Try sample “script” on sales manager • Use a video camera, tape yourself • Use closing worksheet to prepare 14-19 Confirmation Step • Reassure customer • Confirm sale and partnership • Reduce buyer’s remorse— forms of regret, fear, anxiety about sale • Compliment buyer on wise decision • Thank customer for order 14-20 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 14-21 Discussion Questions Losing a sale can be miserable, and salespeople must learn to manage their disappointment when a sale is lost. • What are several ways disappointment must be managed when a salesperson is still face-to-face with a customer? • How do you think salespeople learn to cope with lost sales? 14-22 Facing Competition • Some buyers want to look at competing products/services • Do all possible to help customer make an intelligent comparison • Stress areas where your product is superior 14-23