Closing

Closing Buying Signal Ways Timing of the Close Fine art of closing the sale Methods

Answer the ff questions

1. 2.

3.

Do you always intentionally wanted to buy the product you bought? What does the salesperson do that really impresses you and make you buy the product(s) he is offering you? What do you do when you are ready to buy?

Closing
-

is the process of helping people make a decision that will benefit them. the end result of the presentation

Buying Signal
- refers to anything that prospects say and do showing they are ready to buy.

Several ways prospective buyers may signal that they are ready to buy
Asks questions Asks another persons opinion Relaxes and becomes friendly Pulls out a purchase order form Carefully examines merchandise

The Timing of the Close

Closing Methods: Trial closing question Actual closing question

Can be used when the prospect 1. agrees with the value of a benefit described 2. accepts the salesmans answers to his objections 3. shows some signals 4. When there is a permanent pause

The Fine Art of Closing the Sale

2 important meaning to the salesman: Test his selling ability His income

Methods of Closing the Sales

1. 2. 3. 4. 5.

The Alternative-Choice Close Assumptive Close Compliment Close Summary-of-Benefit Close The Continuous-Yes Close

6. Minor Points Close 7. The T Account Close 8. Standing-Room-Only Close 9. The Probability Close 10. The Negotiation Close 11. The Technology Close

The Alternative-Choice Close

providing customers a choice between two (2) products.

Assumptive Close

assuming that the prospect has already bought the product.

Compliment Close

is especially effective with a prospect who is self-styled expert, has a big ego or who is in a bad mood (one who needs to be complimented)

Summary-of-Benefit Close
summarizing the benefits (features, advantages) for the prospect in a positive manner so that the prospect agrees to the salesman 3 steps: 1. Determine the key product benefits that interest the prospect during the presentation 2. Summarize 3. Propose

The Continuous-Yes Close

develop a series of benefit questions for the prospect to answer

Minor Points Close

similar to alternative-choice close asking the prospect to make a low-risk decision (delivery dates, color, size)

The T Account Close

weighing the pros against the cons

Pros the primary positive aspects of an idea, process, or thing; Cons are the primary negative aspects

The T Account

Positive Positive features Advantages Benefits

Negative Negative features Disadvantages

Standing-Room-Only Close
is effective when products are rapidly consumed and the supply is limited.

SRO is used if an item is:

1. 2. 3. 4. 5. in heavy demand and only few are left a bargain and cannot be re-ordered a sample and the price is unattractive the last one in stock only one because it is dirty.

* Delay decision may be advantageous to the customer because this is a rare opportunity.

The Probability Close

allows prospects to focus on their objections

The Negotiation Close

find ways for fair deal

The Technology Close

using technology in the presentation to help the salesman close the deal.

The Fine Art of Closing the Sale

1.

Trial Close (Minor Point Close) made at a chance during the sales presentation to encourage the customer to reveal readiness or unwilingness to buy.

2.

Assumption Close a method that comes near the end of the planned presentation where the salesman already thinks that the prospect has already bought the product.
Special Concession Close offers the buyer something extra for acting immediately.

3.

4. Summary of Benefits Close summarizing the benefits of the product in a positive manner so that the prospect agrees with what the salesman says. - the most popular method to ask for the order.
5. Negotiating-the-single-problem Close (price, delivery terms, credit terms, etc) - a minor obstacle should not prevent the salesman from closing the sale.

6. Limited Choice Close a method that allows the prospect to examine different models and try to consider the degree of interest in each one. 3 steps: 1. stop showing new products when the prospect already has enough to choose from. 2. remove products that prospect is not interested in. 3. emphasize on products that the prospect seems to be interested in. 7. Direct Appeal Close - a method where the salesman asks the prospect to buy, order, suggest or use his product.

8. Standing Room Only is effective whe products are rapidly consumed and the supply is limited. SRO is used if an item is: 1. in heavy demand and only few are left 2. a bargain and cannot be re-ordered 3. a sample and the price is unattractive 4. the last one in stock 5. only one because it is dirty. * Delay decision may be advantageous to the customer because this is a rare opportunity.

End of Chapter 6