Fundamentals of Selling - McGraw Hill Higher Education

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Closing Begins the Relationship
McGraw-Hill/Irwin
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter
12
12-3
Chapter
12
Main Topics
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12-4
The Tree of Business Life: Closing
When Should I Pop the Question?
Reading Buying Signals
What Makes a Good Closer?
How Many Times Should You Close?
Closing Under Fire
Difficulties With Closing
Essentials of Closing Sales
Chapter
12
Main Topics
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12-5 
Prepare Several Closing Techniques
Prepare a Multiple-Close Sequence
Close Based on the Situation
Research Reinforces These Sales Success
Strategies
Keys to Improved Selling
The Business Proposition and the Close
Closing Begins the Relationship
When You Do Not Make the Sale
Chapter
12
The Tree of Business Life: Closing
T
T T
T T TT
T T T T
Builds
Guided by The Golden
Rule:
 Look for buying signals.
 Be confident in your suggested
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

Relationships
12-6

order.
Prepare several closes for each
call.
Do not take “No” personally.
Remember that a successful close
begins your relationship.
You now prove your value with
ethical service and your new
relationship.
When Should I Pop the Question?
 Closing is the process of helping people
make a decision that will benefit them.
 There are no magic phrases and techniques
to use in closing a sale.
 Close when the prospect is in the conviction
stage of the mental buying process.
12-7
Before You Close, What Should Be Done?
 Ask a trial close
12-8
Why Ask a Trial Close Before You Close?
 To determine if the prospect is ready to buy,
and
 To determine if there are:
 Objections
 Questions
12-9
Let’s Review! When Is It Time to Use a
Trial Close?*
 After making a strong selling point in the
presentation
 After the presentation but before the close
 After answering an objection
 Immediately before you move to close the
sale
12-10
Let’s Review! What Does the Trial Close
Allow You to Determine?
 Whether the prospect likes your product’s
FAB – the strong selling point
 Whether you have successfully answered the
objection
 Whether any objections remain
 Whether the prospect is ready for you to
close the sale
12-11
If Objection Arises After the Close*
Move into your
presentation
Prospect raises
an objection
Response to
the objection
Use a trial close
Close the sale
12-12
The Parallel Dimensions of Selling*
Discussion Sequence
Discuss Product
Show Feature
Explain Advantage
Lead into Benefit
Let Customer Talk
Present Marketing Plan
Presentation
Discuss Product
Present Marketing Plan
Explain Business Proposition
Suggest Purchase
Availability, Delivery,
Guarantee, Merchandising,
Installation, Maintenance,
Promotion, Training, Warranty
Selling Process
Buyer’s Mental Steps
Prospecting Money
Authority
Desire
Preapproach
Approach
Attention
Interest
Presentation
Desire
Trial Close
Determine Objections
Explain Business Prop
List Price, Shipping Cost,
Discounts, Financing, ROI,
Value Analysis
Meet Objections
Conviction
Trial Close
Suggest Purchase
Product, Quantity, Features,
Delivery, Installation, Price
12-13
Close
Action
(Purchase)
Follow-up & Service
Exhibit 12-1: Close When the Prospect Is
Ready
12-14
Reading Buying Signals
 A buying signal is anything that a prospect
says or does to indicate that he is ready to
buy:
 Asking questions
 Asking another person’s opinion
 Relaxing and becoming friendly
 Pulling out a purchase order form
 Carefully examining merchandise
12-15
Exhibit 12-2: Answering a Prospect’s
Buying Signal Question with a Question
12-16
Exhibit 12-3: The Moving Selling Process
 A positive response to the
trial close indicates a move
toward the close.
 A negative response
means return to your
presentation or determine
the prospect’s objections.
12-17
What Makes a Good Closer?
 A good closer:
 Asks for the order and then remains quiet
 Gets the order and moves on!
12-18
How Many Times Should You Close?
 You must be able to use multiple closes.
 Three
_____ closes is a minimum.
 You will learn how without being pushy
1? 2? 3?
12-19
Closing Under Fire
 The first “no” from the prospect isn’t
necessarily an absolute refusal to buy.
12-20
Difficulties With Closing
 Closing is the easiest part of the presentation.
 Salespeople may fail to close because:
 They are not confident in their abilities to close.
 They determine that the prospect does not need
the quantity or type of merchandise or that the
prospect should not buy.
 They may not have worked hard enough to
develop a customer profile and customer benefit
plan.
12-21
Essentials of Closing Sales
 Be sure your prospect understands what you
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
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
say.
Always present a complete story to ensure
understanding.
Tailor your close to each prospect.
Everything you do and say should consider
the customer’s point of view.
Never stop at the first “no.”
Learn to recognize buying signals.
12-22
Essentials of Closing Sales, cont…
 Before you close, attempt a trial close.
 After asking for the order, be silent.
 Set high goals for yourself and develop a
personal commitment to reach your goals.
 Develop and maintain a positive, confident,
and enthusiastic attitude toward yourself, your
products, your prospects, and your close.
12-23
Exhibit 12-5: Twelve Keys to a Successful
Closing
12-24
The Last Key to Successful Closing is to “Leave the Door
Open. Act as a Professional.” How Can That Be Done?*
 Always place the customer’s needs first.
 Treat a customer as you would your


grandmother.
Be a person of character, integrity, and
trustworthy.
If your product will help the person, then you
will be back another day.
12-25
Prepare Several Closing Techniques
 Determine your prospect’s situation.
 Understand your prospect’s attitude toward
your presentation.
 Be prepared to select instantly a closing
technique based on your prospect.
12-26
Exhibit 12-7: Techniques for Closing the
Sale: Which Close Should Be Used?
12-27
Prepare Several Closing Techniques,
cont…
 The alternative-choice close is an old favorite.
 The assumptive close assumes the prospect will
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buy.
The compliment close inflates the ego.
The summary-of-benefits close is most popular.
The continuous-yes close generates positive
responses
The minor-points close is not threatening.
The T-account or balance sheet close was Ben
Franklin’s favorite.
12-28
Prepare Several Closing Techniques,
cont…
 The standing-room-only close gets action
 The probability close
 The negotiation close
0-50%?
 The technology close
50-85%?
85-100%?
Skip video
12-29
Video Help
Example: “Would you prefer the Xerox
6200 or 6400 copier?”
 The Alternative-Choice Close is an Old Favorite
 “Would you prefer the Xerox 6200 or 6400 copier?”
 Study this question – it assumes:
 The customer has a desire to buy one of the copiers.
 The customer will buy.
 It allows the customer a preference.
 It provides a choice between products, not between a
product and nothing.
 By presenting a choice, you receive a “yes” decision
or uncover objections.
12-30
Example: “Would you prefer the Xerox
6200 or 6400 copier?”, cont…
 “I’m not sure,” says the customer (still in the
desire stage).
 Continue with your FABs.
12-31
Example: “Would you prefer the Xerox
6200 or 6400 copier?”, cont…
 If you see the customer likes both 6200 and
6400 and appears indecisive, you can ask:
 “Is there something you are unsure of?”
 This question probes to find out why your
prospect is not ready to choose.
12-32
There are Eleven Closing Techniques in
This Chapter, Each:*
 Is different
 Can be used with other closing techniques
 Helps you be a better communicator
 Helps you better serve others
 Should be carefully studied
12-33
Which Closing Technique Should I Use?*
*To answer that question you should first:
 Determine your approach
 Create your presentation, then
 Determine how best to close
12-34
Assume You Have Completed Your Presentation
and are Getting Ready to Close
 You remember to use a trial close before you
ask the person to buy – if objections or
questions arise, what phase of the prospect’s
mental steps is the buyer probably in?*
(Choose one)
 Attention
 Interest
 Desire
 Conviction
 Purchase
12-35
Assume You Have Completed Your Presentation and
are Getting Ready to Close, cont…
 The buyer is in the desire stage.
 Which stage should the buyer be in before
you close?* (Choose One)
 Attention
 Interest
 Desire
 Conviction
 Purchase
12-36
Assume You Have Completed Your Presentation and
are Getting Ready to Close, cont…
 Ideally, the salesperson should wait for signs
that the person is in the conviction stage
because a buyer in this stage typically:
 Has a strong conviction that you can be trusted
 Feels the product will fulfill needs or solve
problems
 Will reveal real concerns due to trust
12-37
If You Close and Receive an Objection,
What Should You Do?
 Find out what the objection is.
12-38
After You Find Out What the Objection Is
and Answer It, What Should You Do Next?
 Ask a trial close to determine if you have
overcome the objection.
12-39
If You Have Closed, Had an Objection Arise and Effectively
Handled the Objection, What Should You Do Next?
 Close again!
 This is why you need a multiple-closing
sequence.
Skip video
12-40
To pause the video, click on the video screen. To resume
play, click on the video screen again. Click outside the
video screen twice to advance to the next slide.
Prepare a Multiple-Close Sequence
 Different closing techniques work best for
certain situations.
 Multiple closes incorporate techniques for
overcoming objections.
12-42
Prepare a Multiple-Close Sequence, cont…
 By keeping several difficult closes ready in
any situation, you are in a better position to
close more sales.
 Multiple closes incorporate techniques for
overcoming objections.
Skip video
12-43
To pause the video, click on the video screen. To resume
play, click on the video screen again. Click outside the
video screen twice to advance to the next slide.
Exhibit 12-9a: Multiple Closes Incorporating
Techniques for Overcoming Objections
12-45
Exhibit 12-9b: Multiple Closes Incorporating
Techniques for Overcoming Objections
12-46
Close Based on the Situation
 Different closing techniques work best for
certain situations:
 Customer is indecisive
 Customer is an expert or egotistical
 Customer is hostile
 Customer is a friend
 Customer has predetermined beliefs
 Customer is greedy, wants a deal
12-47
Exhibit 12-10: Examples of Closing
Techniques Based on Situations
12-48
Research Reinforces These Sales Success
Strategies
 Common salesperson mistakes resulting in
unsuccessful sales calls:
 Tells instead of sells, doesn’t ask enough questions
 Over-controls the call, asks too many closed-end questions
 Doesn’t respond to customer needs with benefits
 Doesn’t recognize needs, gives benefits prematurely
 Doesn’t recognize or handle negative attitudes effectively
 Makes weak closing statements, doesn’t recognize when or
how to close
12-49
Keys to Improved Selling
 Ask questions to gather information and uncover
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
needs.
Recognize when a customer has a real need and how
the benefits of the product or service can satisfy it.
Establish a balanced dialogue with customers.
Recognize and handle negative customer attitudes
promptly and directly.
Use a benefit summary and an action plan requiring
commitment when closing.
12-50
The Business Proposition and the Close
 The business proposition
 Use a visual aid to close
12-51
Closing Begins the Relationship
 When you make a sale, you change the
person or organization from a prospect to a
customer.
 You have helped the customer
 Now, how do you earn the opportunity to sell
the customer in the future?
 Make sure you have followed the golden rule in
selling the correct product and providing
exceptional service
12-52
When You Do Not Make the Sale, Exhibit 12-12
 Know that you
cannot always sell
everyone.
 Don’t take buyer’s
denial personally.
 Be courteous and
cheerful.
 Leave the door
open.
12-53
If After Your Presentation You Received a Positive
Response to Your Trial Close, What Would You Do?*
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-54
If After Your Presentation You Received a Negative
Response to Your Trial Close, What Would You Do?*
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-55
If After You Meet the Objection You Received a Positive
Response to Your Trial Close, What Would You Do?*
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-56
If After You Meet the Objection You Received a Negative
Response to Your Trial Close, What Would You Do?*
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-57
If After You Close You Receive a Negative Response,
What Would You Do?*
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-58
Summary of Major Selling Issues
 Be prepared to logically and clearly respond to your

prospect’s objections.
Basic points to consider in meeting objections:
 Plan for them
 Anticipate and forestall them
 Handle them as they arise
 Listen to what is said
 Respond warmly and positively
 Make sure you understand
 Respond using an effective communication technique
12-59
Summary of Major Selling Issues, cont…
 Objections are classified as hidden, stalling, no
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need, money, product, and source.
Objections help you determine if you are on the right
track to uncover prospects’ needs and if they believe
your product will fulfill those needs .
Objections show inadequacies in a salesperson’s
presentation or product knowledge.
Closing is the process of helping people make
decisions that will benefit them.
Constantly look and listen for buying signals from
your prospect.
12-60
Summary of Major Selling Issues, cont…
 Tailor your close to each prospect’s personality.
 Close in a positive, confident, and enthusiastic
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
manner.
Plan and rehearse closing techniques.
A good closer has a strong desire to close each sale.
Stay cool, determine any objections, try to close
again.
You can’t make a sale until you ask for the order!
12-61
End of Chapter 12
McGraw-Hill/Irwin
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter
12
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