Identify the steps of Selling. Eagle Challenge Learning Target Identify the steps of Selling.

Today I can Closing the Sale

Jen is trying to sell her product, Awesome IRON™ Jen is trying to sell her product, Awesome IRON™. This iron can remove all wrinkles within seconds. She is located in aisle 2 showing just how the iron works. What method is she using to sell her iron? Denial Demonstration Third Party Boomerang

Customer: “I don’t think my friend will like this shirt Customer: “I don’t think my friend will like this shirt.” Salesperson: “Why don’t you think she will like it?” Illustrates what method of handling objections? Boomerang Questioning Substitution Superior Point

Know the Difference Selling – Retail, Personal, B2B Buying Motives – Rational or Emotional Buying Decisions – Extensive, Limited, Routine Objections – Time, Need, Source, Price, Product Listen, Acknowledge, Restate & Answer Methods for Handling objections

Closing the Sale

The buying signals that a customer sends. – How to Close a Sale The buying signals that a customer sends. The rules for closing a sale. The specialized methods of closing a sale.

. . . is obtaining positive agreement from the customer to buy. Closing the sale . . . . . . is obtaining positive agreement from the customer to buy.

Timing the Close Buying Signals – things customers do or say to indicate a readiness to buy. Comments Facial expressions Body language Actions

Trial Close – the initial effort to close the sale. Tests the readiness of a customer Beneficial because you will learn, even if the customer is not ready. Beneficial because you may reach your goal. You will LEARN the 4 trial closes!!!

Good salespersons . . . Recognize closing opportunities Help customers make a decision Create an ownership mentality Don’t talk too much and don’t rush a customer

Specialized Methods for Closing the Sale Which Close – encourages a customer to make a decision between two items. Review the benefits of each item Ask, “Which do you prefer?”

Specialized Methods for Closing the Sale Standing-Room-Only Close – used when a product is in short supply or when the price will be going up in the near future. Use only when honestly called for May be perceived as “high pressure” tactic Say, “I’m sorry, but I can’t promise that I’ll be able to make you this same offer later.” Often used with high-demand real estate

Specialized Methods for Closing the Sale Direct Close – directly ask for the sale. Use when the buying signal is 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?”

Specialized Methods for Closing the Sale Service Close – Explains obstacles that require special service in order to close the sale. Gift wrapping Return policy Warranties Bonuses or premiums Help paying for the item – offer credit

Failure to Close the Sale Don’t despair Invite the customer to shop in your store again Business-to-business sales are rarely closed on the first call – ask if you can call again. Practice and experience will help

GROSS vs. NET PAY Gross pay is the total amount of money you get before taxes or other deductions are subtracted from your salary Net pay is the amount one receives after taxes and deductions have been withheld.

Disposable and Discretionary Income Disposable Income Income person has to pay for what is needed. Discretionary Income Income a person has left to spend on extras after necessities have been bought.

WAGES First 40 hours is at regular pay rate. Anything over 40 hours is deemed ‘Overtime’ Anything over 8 hours a day at some places, too Overtime Pay? Time and a half, Double, 7th Day Pay, Sunday Pay

Hourly wage example Regular pay 40*8.9 = 356.00 Jim worked 45 hours last week He makes $8.90 an hour What is his gross pay? (overtime is time and a half (1.5)) Regular pay 40*8.9 = 356.00 Overtime pay 5*(1.5*8.9) = 66.75 Total gross pay 356.00 + 66.75 = $422.75

Now – you try… Hourly wage example Judy worked 52 hours last week He makes $11.90 an hour What is his gross pay? Regular pay 40*11.90 = 440.00 Overtime pay 11*(1.5*11.90) (1.5*11.90) = 17.85 17.85*12 = 214.20 Total gross pay 440.00 + 214.20 = $654.20

SALARY Exempt employees - No matter how many hours you work, you get paid the same amount each pay period. 52 weeks in a year If paid every two weeks 26 pay periods If paid twice a month 24 pay periods If paid once a month 12 pay periods

Salary every two weeks bi- monthly Once a month $42,500/26 $42,500/24 Sean’s salary is $42,500 a year What is Sean’s gross pay if he gets paid… every two weeks bi- monthly Once a month $42,500/26 $42,500/24 $42,500/12 $3,541.67 $1,634.62 $1,770.83

Commission Incentive to works because pay is directly related to the amount of work a person does Ie. Sales person and Production workers

Commission Car Sales Person earns 9% commission. Sold 2 cars Car 1 - $21,790 Car 2 - $25,650 How much does the Salesperson earn? $21,790 + 25,650 47,440 x _ .09 $4,269.60

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