Exercise: Sales Closes

No matter how hard you work, how well you prospect and qualify and regardless of how well you design solutions for customers, if you are weak in closing sales, you will suffer in your career. While closing sales comes natural to some, others will benefit from learning how to effectively use proven closing techniques.  While this list of closing techniques is certainly not a complete list, it represents the techniques that have proven to be effective over time. As with learning the features and benefits of your product or service, learning these closing techniques takes time, practice, patience and trust.

If you asked a hundred sales professionals for their best tips on closing a sale, you would get a hundred different responses. You would hear the old school crowd preaching the benefits of the assumptive and Colombo closes. The newer breed would claim that a sale is simply the result of the relationship and rapport that you have built with the customer. While closing techniques are as varied as the sales professionals employing them, there are some tried and true tips to effectively close a sale.

• Earn the Right

Before you can expect to close a sale, you must first earn the right to ask for the sale. You earn the right by delivering on your promises, and by following up on customer questions. You earn the right by showing up for appointments on time, prepared, and eager to serve the customer. Focus each call on how you can help the customer instead of what you can get from the customer, and you will eventually earn the right to ask for the sale.

• Ask for Next Steps

After any customer call or completed action item, ask the customer what he or she thinks should be the next steps. If they are unsure, make suggestions of next steps that move you closer to a close.  Remember that the next step could be to close the sale. Often times, inexperienced sales professionals add too many steps before trying to close a sale. 

• Begin With the End in Mind

Each step you take in a sales cycle should be leading you towards partnering with your customer. With each customer interaction, remind yourself of where you want to go and focus your efforts on moving in that direction. Without knowing where you are going, you may find yourself taking steps that lead you away from closing the sale. Keep focused on your purpose during each step in the sales process.

• Give and Receive

In most sales cycles, your customers will ask for something. Whether they ask for information, a lower price, product demonstrations or customer referrals, expect that you will be giving a lot during the sales cycle. A good rule to remember is that you should always ask for something after you give something. For example, if the customer asks for a demonstration, ask for their commitment to move forward to the next steps if the demonstration proves that your product or service will fulfill their need. While it may be better to give than to receive, in the sales world, giving and receiving are both equal players with equal amounts of importance.

• Sell More Value

In a price-sensitive market, the winner is the one who is able to show more value than the asked for price. Value is determined not by the market but by your customer. Show them that your product or service has more intrinsic value than the price, and the sale is yours.

• Under Promise

A mistake that many rookie sales professionals make is to promise something that they cannot deliver. For example, if you are selling a product that requires the item be shipped, tell the customer when to expect the item and never suggest that you can get it to them sooner than what is realistic. It is better to tell them that delivery will take longer than what it probably will. 

• Over Deliver

If you followed the example of UNDER PROMISE, you will have ample opportunity to over deliver. Delivering an item earlier than expected will be seen by most customers as you going above and beyond for them. However, if you've over promised, you've probably set yourself up to under deliver. This creates a diminished sense of value in the customer's mind, making it more challenging for you to close the sale.

• Be Nice To Your Enemies

You will have competition in every sale. Competition can come in the form of another company or from the potential of your customer making no decision. If you put down your competition, you immediately put the customer on the defensive. Doing so may cost you the sale. Instead, praise the competition where they are strong and point out where your company outshines everyone else.

• Prepare and Plan

If you’ve done your work and have built more perceived value than the price you are asking, it’s time for you to prepare and to plan for the close. Preparing includes gathering all the information, paperwork, forms, etc... that the customer will need to move forward. Planning means to anticipate any last minute objections and how you will respond to them.

• Close Your Mouth

The golden rule in sales is simple: "After a closing question is asked, the first person who talks, loses." In other words, if you've earned the right to ask for a sale, ask for the sale then say nothing. Rookie sales professionals often talk themselves into and out of a sale. Their excitement and nervousness put their mouths on auto-drive and they often end up either missing a buying signal or, worse yet, keep talking and end up bringing up something that the customer hadn't thought about yet. New thoughts in a closing situation usually result in sales delays.

The temptation to talk is great but once you learn how to resist the temptation and how to close your mouth, your sales closing percentages will increase.
 

Understanding closing techniques is important, but there are no magic words to guarantee that you make the sale. You must start by helping your customer identify his needs and then demonstrating that your product or service offers an affordable solution that addresses those needs. With that foundation, a good closing will help you cement the deal and grow your sales business.

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Homework Assignment Instructions (in Red):

Your task is to rewrite each close in such a way that it pertains to you and your relationship with SelectChoiceTV.com, ConnectedHomeLink.com and your role as a Sales Professional, selling Dish, DirecTV, Comcast & CenturyLink Services.  When you have completed it, let Jerome know.  You can learn more about some of these closes by clicking on the following Link: http://salescareers.about.com/od/SalesSkills/tp/Top-Closing-Techniques.htm

and then after you read up on each close, click on the, “more…” at the end of each description to learn more about each close.  It’s really informative.  You will learn a lot so please take this exercise very seriously.

You will be writing 5 different paragraphs per CLOSE.  The first paragraph, you will rewrite the definition provided in your own words and not someone else's example taken from the internet.

The second paragraph will be yet another description/definition that nobody has used yet and in your own words.

The third paragraph thru the fifth paragraph will be 3 different sales examples/scenarios that you would use to try and close a customer either over the phone or in person while attempting to close a potential customer on one or all of our services.  I want 3 different scenarios, one for each remaining of the three paragraphs.

Once completed, you will then submit this homework before or on the deadline to the following email address: dkinder.SelectChoiceGroup@gmail.com & cc: JeromeHeba@gmail.com.

Thank you and Good Luck!

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HOMEWORK Starts here: 

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Opinions Count

Adding the phrase “in your opinion...” to a question softens the reply if the customer has an objection. “In your opinion, will this solve your problem?” If the customer says no, it's an opinion, not a fact, and you can address his concern. This is a great trial close to use as the sales cycle progresses so that you don't encounter any surprises when it's time to wrap up the deal.

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Sharp Angle Close

When the customer asks for a concession, whether it is price, delivery or additional features, respond by asking, “If I can do that for you today, will you sign a purchase order?” This is an important closing question – if you agree without asking for a close, then the customer has an open door to continue asking for concessions.

Assumptive Close

The Assumptive Close helps put the sales professional in a better state of mind as they assume that the customer is going to make a purchase. As long as the sales pro makes sure that they cover each step of the sales process and provides enough value to the customer, assuming that the sale will close is a powerful and highly effective closing technique. If you learn only one close, this is the one to learn.

If you have an established relationship with the customer and he respects your judgment, jot down the items he is considering on an order form as you are discussing his needs. When the timing is right, put an X on the signature line, hand it to the customer and say, “Here.” Then be quiet.

Something for Nothing

A free ad-on may be gimmicky, but it can work if handled correctly. “I happen to have an extra charger with me. If you sign off on the order today, I'll throw it in at no charge.”

Http:// www.thedatabasediva.com/customers-who-want-something-for-nothing/

Ben Franklin

Ben Franklin is said to have made decisions by creating a list with two columns – the pros and the cons – and basing his choice on the longer column. This approach works well with analytical personalities. If you use it as a closing technique, just be sure you have a lot of benefits in the customer's "pro" column.

The Porcupine

You must be careful stroking a porcupine and you must also be careful answering customer questions. When your prospect asks a question like “Does it come in red?” answer by tossing back the question: “Would you like it in red?” Her answer will give you a measure of the depth of her interest and help you adjust your presentation appropriately.

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Impending Event

If you truly have a deadline or reason for the customer to make a quick decision, the impending event closing works well. “I have an installation crew in town next week. Can we schedule a day with you?” If the deadline is in your interest and not the customer's, it will be seen as self-serving and will not work.

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Solicit Objections

If you have gone through the discovery phase of the sales cycle and are confident that the customer understands that your product or service addresses her needs, then ask for the sale by asking for an objection. "Is there any reason why we can't proceed with the shipment?" This oblique approach allows the customer to raise any final objections -- if she has one -- without saying no to the sale.

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Level With Me 

As you approach the end of the selling process and the customer says he wants to think about it, ask him to get to the point: “Level with me. Have I failed to show you the value that you will receive from your investment?” Then be quiet.

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Direct Close

When you have addressed the customer's concerns and you are confident that she knows the value of your product or service, then pose the question directly, "So, Mary, are you ready to place the order?" Use this closed-ended, yes-or-no question only if you are very confident that the answer will be affirmative.

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The Columbo Close

Not only was the TV character Columbo a fantastic police detective, he was also a wonderful sales coach. And while few would ever see Columbo as a sales professional, his one famous line has lead to more sales closes than most any other line in sales history.

“Just one more thing,” Columbo's famous line, opens doors, removes guards and allows you a glimpse into the unprotected mind of your customer.

The Puppy Dog Close

Few can resist the cuteness of a puppy. And for those sales professionals who have the option of allowing their prospects to "test drive" or "trial" their product, the Puppy Dog close has a very high closure rate. Though there are several things, some controllable and some not, that the sales pro must consider, using a Puppy Dog close is a low pressure, highly effective method to get a customer to sign on the bottom line.

If you've ever purchased a car, the sales professional most likely employed the puppy dog close on you and probably never knew he was using this technique. But once you are aware of the technique, how to use it and when not to use it, you'll see your sales numbers steadily improve.

The Backwards Close

Most every sales professional was taught that sales cycles follow a predetermined number of steps. Those in sales should start at step 1 and do everything they professionally can to move all the way to the final step. But what if they started at the final step and asked for referrals? This is the Backwards Closing Technique that starts where most sales end.

It is not the easiest, smoothest or predictable closing technique, but, when used by a pro, can be one of the most effective.

The Hard Close

Hard closing demands a lot of courage and confidence and should only be used when you have nothing to lose. While people generally love to buy things, most hate being sold to. And when it comes to the hard close, customers are well aware that you are selling them something. But despite its negative reputation, sometimes the hard close is the best closing technique to use. As long as you use it correctly.

While many sales professionals believe that they should close often and early, hard closing should only be used when you have nothing to lose and never should be used too early in the sales cycle.
 

The Relationship Close

The golden rule in sales states that if a customer likes you, they will find a reason to buy from you. Conversely, if a customer does not like you, they will find a reason not to buy from you. Building a relationship with a customer is a sure way to not only close a sale but to create a long-term customer.

Unless what you sell is a "one and done" type of product or service, learning how to build rapport with your customers is the most powerful closing tool you will ever enjoy using. The biggest danger in building solid relationships with your customers is that you may end up being uncomfortable building any profit in your deals.

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The Takeaway Close

Let's face it, we hate when things are taken away from us. Go and try to take the proverbial candy away from a baby and you'll get a very loud example of one simple fact: No one likes having things taken from them. Whether it is something you own or something that you want to own.

But did you know that taking things away from your prospects can actually be used as a closing technique? As with all closing techniques, the takeaway close takes a discipline professional to know how and when to use it correctly. If used too often or too early, you'll end up negatively affecting your margin. Like every other sale, the Take Away Close is not the "end all, be all" close. Learn it and, more importantly, learn when to use it.




 

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