Concept IX Closing The Call “Persuasion is power…” Closing The Call Concept IX will: Define the close Sample closing statements Share closing phrases: What’s hot, what’s not! Alert you to buying signals Show how to set up a positive environment Explore some common difficulties Suggest what to do next if your close should fall Confirm expectations Give the best response to a true “No” Packing the punch Closing: a current definition At one time, closing meant, “asking for the business.” The name for the process was called ABC (Always Be Closing). Today, the focus of selling has shifted dramatically. Closing can more accurately be defined as… …any request by the sales agent for an action from the client that will advance the sale to the next stage. Before a close can succeed, the selling equation must be in balance. i.e., your solution must satisfy a sufficient number of needs to convince the prospect to act. Successful Closing Statements Remember the opening? One of the items you gained agreement on was the outcome or the action at the end of the meeting. Closing is nothing more than requesting agreement to take the action all of you agreed upon at the beginning. In consultative selling, closing is a process – not a technique. It is a positive communication skill used to bring a natural conclusion to a business meeting. Your closing statement should be consistent with your own style and the style most compatible with your customer’s. You can close when you have: Uncovered 2 to 4 High Impact needs Presented solutions with which the client has agreed Handled all objectives Sensed the client is ready to accept your closing statement Effective closing statements are natural and consultative in nature. They assure that the selling equation is balanced. The Summary Class As the Account Manager, you assume a positive attitude about the relationship and summarize all the benefits you’ve discussed (linking them to the client’s needs). Then you request the customer to take a specific action. Example: “Well, Karen, let me recap – we’ve agreed that we have the products, the programs, the price and the experience to meet your needs. I’d like to get this application submitted today so that you can begin using it next week. Is this applicable to you? The Alternate Choice Close You can keep the sales process on track by summarizing the key benefits and give the customer one of two choices. Example: “Would you like to get this improved program implemented immediately or would the first of the month be better? Alternative Close Example: If I were able to meet your request of, would we be able to complete this application today?” Hot Closing Phrases We have all heard it, “Don’t leave until you ask for the sale!” Here are some lowpressure phrases that can help you make a smooth transition from the presentation to close: “I need your approval to proceed.” “To confirm installation schedule, all I need you to do is confirm this order.” “When do you want to have this up and running?” “Tell me where we stand.” “We look forward to taking good care of you.” “Can I add you to the list of clients who prefer this option?” “This program was tailored for you, isn’t it?” “When would you like to start seeing these benefits?” “What else do I need to do to earn your business?” “If we’ve covered all the bases, will you authorize the order?” “Do you have any concerns that I have not addressed? If not...” Which form should we look at: the lease or the rates pages?” May I welcome you to our growing family of satisfied clients?” Fatal Closing Phrases Benefit from eliminating or substituting the following terms: No Buy Monthly Payment Price Contract Deal Standard Yes Own or get involved Initial equity to get you started Total investment Paperwork or Agreement Great opportunity Included features Buying Signals Choosing the right moment to ask for a commitment to move the process forward is a useful skill of consultative selling. Most customers will give you clues, but you have to be sensitive enough to recognize a signal when you see one. Non-verbal form: Moving forward Nodding head Taking notes on key statements Verbal form: Asking key questions regarding next step Questioning cost or implementation, etc. Asking “What, When, or How” questions Don’t waver. If your solution provides your contact with what he wants, don’t continue your presentation. Ask for the order. Establishing A Positive Closing Environment It’s always important to maintain a positive attitude with your customer. At the close, it’s crucial! You shine for your trusting clients. You deserve the business and your customer deserves the best solution. Knowing all this be positive when you ask for a commitment. Assume that an agreement has been reached. Positive language reflects your attitude and confidence in your ability to deliver an improved program. Key words and phrases: When we… There is no doubt… I am confident that… Our next meeting… Once completed… In the future… Why Do We Find It Hard To Close? Fear of getting a “no” Asking for a commitment will not dissuade the client as long as you’ve developed rapport and a number of needs. Fear of rejection Forget it. A “No” is not a personal rejection of you. It’s a decision not to agree today. Period. Tomorrow the answer may be “Yes.” Fear of applying pressure If you believe that what you’re suggesting is going to help the customer, then go ahead and close with an aggressive confidence. Your conviction communicates an urgency and sincerity that this is a good decision. Lack of Confidence We are always learning in sales and experience in the field will cure hesitance. Work with a mentor that will always be tougher to sell than your prospects. Remember: If you have identified the needs, presented solutions properly and managed attitudes, closing will come naturally. Lack of competence With the resources available to the sales agents today, not knowing how is never an acceptable excuse. Expanding your knowledge base comes with a commitment to improve. Even the “No’s” we receive teach us how to better close. Intimidation Prospects who we perceive as well versed or savvy should be embraced. They may (or may not) understand what you are trying to accomplish. That is fine. They should then welcome an attractive opportunity to begin a relationship. If not, you know how to handle indifference, objection and doubt. You have already prepared well for this meeting. Go for it. If The Close Fails Not every request for a commitment will succeed. Prospects may resist because they: Don’t see a need See no urgency to change Have low trust Have no money (if solutions include heavy front load) Do not have the authority to buy Have an unresolved issue, objection or obstacle Maintain loyalty to a competitor Arm twisting closing tactics never successfully gain commitment from someone who has unresolved issues. So if you sense resistance, your first instinct should be to find out “Why” instead of battling to overcome it. Use open questions to give the customer a chance to freely state the reason for accepting your closing statement or commitment: Have I left something out? What else do we need to cover? What concerns do you have about our proposal? Can you tell me what else you would like included in our recommendation of services? What can we do to make our solution acceptable to you? If needed, get specific by switching to close questions: Is there anything other than the price that concerns you? Is there an issue with our solution or recommendation? Are you concerned about conversion/ installation/ training? Has another processor given you some other options? Is there something else you were looking to accomplish? Remember: If your first close fails, you may wish to suggest another action that is more consistent with the decision process. Expectations Some sales agents see a prospect’s response to their closing statement as a judgment about how they did in the meeting and how valuable the proposed solutions are. No one likes to get a “No.” But if you have uncovered needs, developed rapport and managed attitudes properly, you have a high probability of gaining a client’s commitment. Keep in mind that a “No” to your closing statement may be the only way to uncover an unresolved issue that for some reason did not surface during your probing. Researchers have determined that customers have expectations of a sales representative: Customers or prospects expect to hear a close at the conclusion of a sales call. If there’s no attempt to close, a prospect may lose confidence in the representative. Your prospect is ready to say, “Yes.” If you fail to ask for a commitment, what happens? Confusion sets in. Your prospect now has no idea what to do next. Clients will expect you to tell them what you want. Don’t appear unsure with statements like, “I hope you will like our service” or “Maybe we can do business”. The Best Response To “NO” You went all out to get the sale. You prospected, cold called, followed up, presented, and modified… but the prospect still went with someone else. Losing a big one is tough, especially when you’ve really put your heart into it. But how you respond can render all your hard work either a complete waste of time… or a solid foundation for future business opportunities. Selling truly begins when a client says “No”. Keep you efforts form going to waste by teaching yourself to follow the plan. 1. Listen. The prospect will probably say she liked the proposal but felt compelled to chose someone else for very specific reasons. You should listen carefully to these to gain some honest tips on how to improve the next bid 2. Express your disappointment – with dignity. “Well, I must say I am disappointed…” This not only shows grace in defeat but also commitment to the prospect. 3. Compliment the customer on their choice. Never badmouth the competition. It makes you look small, and insults the prospect’s judgment. You may choke on the words, but find a way to be sincere. 4. Leave the door open. You know XYZ Company isn’t the best choice. “If I can help, please call. I’ll check in with you every now and then.” Then do it. Packing The Punch Your level of confidence can be the determining factor in closing. It can reduce buying barriers. Expect the sale. Ask yourself: What can I do for this prospect to motivate them to do what I want in return? People so business with people they like and trust. Make sure all agreements are Win – Win. Go the extra mile for someone who goes the extra mile for you and never take a client for granted. The closing should be a natural conclusion to a good conversation about needs and solutions.