Presentation on theme: "How to Close a Sale Step 5. Objectives Identify customer buying signals List tips for closing a sale Decide on appropriate specialized methods for."— Presentation transcript:
How to Close a Sale Step 5
Objectives Identify customer buying signals List tips for closing a sale Decide on appropriate specialized methods for closing a sale
Closing Concepts and Techniques Sometimes closing a sale is so natural, the customer will do it for you! Most situations though, the salesperson MUST close the sale
Timing the Close You must be flexible in your sales process All customers may be ready to buy at different times throughout the process Remember, you may not go through all steps of a sale Buying Signals Things customers do or say to indicate a readiness to buy Nonverbal signals/cues – Body language/Facial expressions “This is exactly what I was looking for.” “When would I be able to get this delivered?”
Timing the Close Trial Close An initial effort to close a sale Can be attempted to test the readiness of a customer and your interpretation of a positive buying signal Beneficial: Doesn’t work – You learn from the attempt Does work – You closed the sale early and successfully!
Tips for Closing the Sale Recognize Closing Opportunities Use effective product presentations to close Dramatic product presentations often prove important selling points Take advantage of high customer interest
Tips for Closing the Sale Help Customers Make a Decision When they are having difficulty making a decision, stop showing additional items! Narrow the items – get rid of ones that have no interest “Which of these items do you like the least?” Summarize major features, explain advantages & disadvantages, etc.
Tips for Closing the Sale Create an Ownership Mentality Use words such as you and your to indicate ownership “You will appreciate these waterproof hiking shoes on your next hiking trip when it starts to rain.” This helps the customer to visualize themselves owning those products
Tips for Closing the Sale Avoid threatening words When possible avoid words like now and today because customers feel that need to act immediately They may feel TOO MUCH pressure and change their mind altogether
Tips for Closing the Sale Get Minor Agreements Seek minor agreements on selling points you know the customer has observed in the presentation “Those newly designed golf shoes are comfortable, aren’t they?” Getting positive responses/reactions helps create a natural closing
Tips for Closing the Sale Pace Your Closing If you sense they are ready to make a buying decision, stop talking about the product If you keep talking, this can annoy the customer and possibly lose you the sale Do not rush customers into a decision Be patient, courteous, polite, and helpful
Methods for Closing the Sale Which Close Standing-Room- Only Close Direct Close Service Close Best Time Close Artisan Close Compliment Close Concession Close
Which Close Making a decision between two items Unwanted items should be removed Compare selling points of each “Which one do you prefer?”
Standing-Room-Only Close Used only when a product is in short supply OR when the price will be going up in the near future ONLY USED when the situation honestly calls for it Could be seen as a high pressure tactic “I’m sorry, I can’t promise you that I can make this same offer/deal later.” Used when selling HIGH demand products “The item you like is part of a special promotion. It is the last one we have in your size.”
Direct Close You ask for the sale Only use this when the buying signal is VERY strong “Can I assume that we’re ready to talk about the details of your order?” “How would you like to pay for this purchase – cash, check, or credit card?”
Service Close May require special services in order to help close Gift wrapping, a return policy, warranties & guarantees, special sales arrangements Great thing to do when the customer is purchasing the item as a gift Special sales arrangements are usually done when the customer needs help paying for an item/order – lay-a-way; pay over time, etc.
Best Time Close Creating a sense of urgency Don’t use unless the customer is on the fence about buying There is no time to buy this like NOW
Artisan Close Talk about who made it, where it was made, the quality of the product, etc. “This shirt is made out of high quality silk…”
Compliment Close Point out the customer’s qualities with the item. “That shirt looks great on you!!” Only use this when the compliment is GENUINE!!! Don’t lie!
Concession Close Offering something in return for the customer purchasing the item “If you purchase this today, we can throw in a 2 year warranty for half price.”
Question Which closing technique do you think would be the easiest, most efficient method? Which do you think is the hardest? Do you think that you could use multiple techniques to close a sale?