Closing the Sale

Dr. Jim Burton Marketing & Real Estate Richards College of Business

Overview

When to Close Overcoming Objections Prepare for Many Closes 12 Keys to Successful Closing Some Techniques for Closing A Multiple-Close Sequence Six Sales Mistakes

When to Close

When the Prospect is Ready! Read the Buying Signals

• Buyer asks questions• Buyer asks other’s opinion• Buyer relaxes & becomes friendly• Pulls out a purchase order form• Buyer carefully examines product

Overcoming Objections

Always Be Closing (ABC) Ask for the Order & Be Quiet Get the Order, then Move On ! Use Multiple Closes Overcome the FEAR of Closing Use Planned & Well-Rehearsed

Presentation Ask, Ask, Ask !

Essentials of Closing Sales

Be Sure your Prospect Understands Tailor your Close to each Prospect Consider the Customer’s Point of

View Never Stop at First “NO”

Essentials of Closing - Continued

Recognize Buying Signals Attempt a Trial Close After Asking for Order - Be Silent ! Set High Goals Develop Confident Attitude

12 Keys to Close

Think Success ! Be Enthusiastic. Plan your Sales Call. Confirm your Prospect’s NEEDS in

the Approach Give a GREAT Presentation

12 Keys to Close

Use Trial Closes Smoke out the Prospect’s REAL

Objections OVERCOME the Real Objections Use a Trial Close after Overcoming

Each Objection

12 Keys to Close

Summarize BENEFITS as related to Buyer’s NEEDS

Use Trial Close to Confirm Benefits/Needs

Ask for Order, then Silence Leave the Door Open Be a Professional

Common Closing Techniques

Alternative-Choice Close Assumptive Close Compliment Close Summary-of-Benefits Close Continuous-Yes Close Minor-Points Close

Common Closing Techniques

T-Account or Balance Sheet Close

Standing-Room-Only Close Probability Close Negotiation Close: Value/Price Laptop PC Close

Multiple-Close Sequence

Several Different Closes Use Closing Techniques based on

the Situation, p.362

Six Sales Mistakes

Tells instead of Sells Over-Controls the Buyer Doesn’t Recognize her NEEDS Or Overcome with Benefits Avoids Dealing w/Negative

Attitudes Effectively Makes WEAK Closing Statements