Chapter 12
Closing the Sale: The Power of Negotiating to Win
12-1
Video Ride-Along
•
The video Closing the Sale features Lisa Peskin, Sales Trainer at Business
Development University
•
She shares her insights on how to close a sale and discusses how a ‘quick’
no is next best to a yes
•
To view the video,
•
Closing the Sale:
http://www.youtube.com/watch?v=zQfqcobi3ms
12-2
Closing the Sale
•
Close: Consummation of the sale when the prospect agrees to the
purchase
•
Closing: Bringing the sale to fruition or getting the sale
12-3
Closing Time
•
Closing is an ongoing series of events that occurs throughout the selling
process
•
Since closing is not a definitive part of the selling process, you effectively
get the order using a trial close
•
The difference between a trial close and a close – trial close asks for an
opinion, whereas a close asks for a decision
12-4
What the Close Is Not?
•
It is not a high-pressure exchange between seller and buyer
•
It is not a time when the salesperson resorts to trickery, manipulation, or
other unsavory tactics just to get a sale
12-5
“Always Be Closing” (ABC) or “Always Be
Opening” (ABO)?
•
When you close too soon, the customer thinks that the process is over and
mentally moves on to something else
•
At this stage, ask exploratory questions – Understand what the customer
needs and how to meet those needs
•
Focusing your selling efforts in the ABO way makes it easier to sell
additional products and services to existing customers
12-6
Always Be Opening
•
The video The Secret of Closing features Sales Guru Jeffrey Gitomer
•
He explains the meaning of ‘quit closing the sale’
•
To view the video,
•
Closing the sale:
http://www.youtube.com/watch?v=XGmKNSj8F64
12-7
When to Close
•
When the prospect displays positive body language and interaction
•
When the prospect asks questions
•
After you handle an objection
12-8
Types of Closes
•
Direct request close
•
Benefit summary close
•
Assumptive close
•
Alternative-choice close
•
Compliment or vanity close
•
Combination close
12-9
Types of Closes
•
The video Assumptive and Alternative Choice Closes features Lisa Peskin
Sales Trainer at Business Development University
•
She discusses the assumptive close and the alternative-choice close and
how both can be effectively used
•
To view the video,
•
Assumptive and Alternative Closes: http://www.youtube.com/watch?v=a--98uNWob0
12-10
Closing Complex Sales
•
Complex sale: Sale of a high-value product or service (usually over
$100,000)
•
Four phases of closing a complex sale:
– Discover
– Diagnose
– Design
– Deliver
12-11
Negotiate to Win-Win-Win
•
Successful negotiation - Delivers a mutually beneficial solution to all
parties and are collaborative in nature
•
Collaborative negotiating depends on:
– Building trust
– Gaining commitment
– Managing opposition
12-12
The Three Elements of Negotiation
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Information
•
Power
•
Time
12-13
Steps of the Negotiation Process
Click below to
view full-size
Three Steps of the Negotiation Process.PNG
12-14
Learn from the Master
•
The video Negotiate This features Herb Cohen, celebrated Speaker and
Negotiator
•
He discusses some powerful negotiation techniques
•
To view the video,
•
Negotiate This:
http://www.youtube.com/watch?v=Kb-s2qTQa4M
12-15