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9 TH EDITION. Selling Today. Manning and Reece. CHAPTER 13. CLOSING THE SALE AND CONFIRMING THE PARTNERSHIP. LEARNING OBJECTIVES. Describe proper closing attitude List and discuss guidelines for closing Explain how to recognize closing clues Discuss methods of closing sale

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9TH EDITION

Selling Today

Manning and Reece

CHAPTER 13

CLOSING THE SALE AND CONFIRMING THE PARTNERSHIP


Learning objectives
LEARNING OBJECTIVES

  • Describe proper closing attitude

  • List and discuss guidelines for closing

  • Explain how to recognize closing clues

  • Discuss methods of closing sale

  • Explain what to do when

    --Buyer says YES

    --Buyer says NO


Six step presentation plan
SIX-STEP PRESENTATION PLAN

1. APPROACH

2. PRESENTATION

3. DEMONSTRATION

4. NEGOTIATION

5. CLOSE

6. SERVICE

See details Figure 13.1.


Attitude toward closing
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.”



Strategic planning for close
STRATEGIC PLANNING FOR CLOSE

  • Review barriers to sale

  • Review closing guidelines

  • Prepare several closing methods

  • Plan to ask for order more than once

  • Practice the closing

See Figure 13.2


Actions during close
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 style

  • Ask for order more than once

See Figure 13.2


Review value proposition from prospect s view
REVIEW VALUE PROPOSITION FROM PROSPECT’S VIEW

BUYER ANXIETIES

LOSS OF OPTIONS

FEAR OF MISTAKE

REACTIONS OF PEERS


Guidelines for closing sale
GUIDELINES FOR CLOSING SALE

  • Focus on key 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


Closing clues verbal
CLOSING CLUES-VERBAL

  • VERBAL

    --Questions

    --Recognitions

    --Requirements

See samples in text.


Closing clues nonverbal
CLOSING CLUES- NONVERBAL

  • NONVERBAL

    --Facial expression changes

    --Prospect nods agreement

    --Leans toward you

    --Examines product literature intently

See samples in text.


Specific closing methods

Trial close

Summary-of- benefits

Assumptive

Special concession

Balance sheet

Management

Multiple options

Direct appeal

Combination

SPECIFIC CLOSING METHODS


Closing worksheet
CLOSING WORKSHEET

Figure 13.3


Trial close
TRIAL CLOSE

  • Made at opportune time

    --”Can we ship in May?”

    --”Will a $500 down payment be possible?

    --”Should our staff handle the installation?


Trial close opportunities
TRIAL CLOSE OPPORTUNITIES

See Figure 13.4.


Summary of benefits close
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.”


Assumptive close
ASSUMPTIVE CLOSE

  • Asks for minor decision, assumes customer will buy

    --Usually question about minor point

    --”Should I put this on your account?”


Special concession close
SPECIAL CONCESSION CLOSE

  • Special inducement offered if prospect signs

    --Sample inducements

    • Sale price

    • Liberal credit plan


Multiple options close
MULTIPLE OPTIONS CLOSE

  • Present several options

    Steps…

    • Configure more than one product solution

    • Stop when ample selection presented

    • Remove less appealing options or products


Balance sheet close
BALANCE SHEET CLOSE

  • Outlines reasons TO buy and NOT to buy

    To Buy Not Buy


Management close
MANAGEMENT CLOSE

  • Involvesenior executives or sales manager

    --Makes prospect feel important that your firm’s higher-ups are involved

    --Often used in auto sales


Direct appeal close
DIRECT APPEAL CLOSE

  • Ask for the order in a straightforward manner

    --Should not come too early

    --Gain prospect’s respect first


Combination closes
COMBINATION CLOSES

  • Sales person simply combines two or more close methods



Practice the close
PRACTICE THE CLOSE

  • Make these 8 closing methods work better via practice

  • Use closing worksheet

  • Try sample “script” on sales manager

  • Use a camcorder, tape yourself


Create your own closing worksheet
CREATE YOUR OWN CLOSING WORKSHEET

CLUE METHOD STATEMENT

“Sounds good.” DIRECT APPEAL “Fine, please sign the order.”

“What about the MULTIPLE “We offer 5% and financing?” OPTIONS and 4% with $100 down. Which do you prefer?”

Also see Figure 13.3.


Confirmation step
CONFIRMATION STEP

  • Confirm sale and partnership

  • Reassure customer

  • Buyer remorse—forms of regret, fear, anxiety about sale

    --Compliment buyer on wise decision

    --Thank customer for order


When buyer says no
WHEN BUYER SAYS NO

  • Learn to manage disappointment

  • Focus on success

  • In win-win, there is never a real winner or loser

  • Consider methods to re-open sale at a later date

  • Analyze lost sales


Facing competition
FACING COMPETITION

  • Some buyers want to look at competing products/services

  • Do all possible to help prospect make an intelligent, informed decision

  • Stress areas where your product is superior

Last slide Chapter 13.


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