Closing the Sale and Follow-up

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					      8   Closing the Sale and
                     Follow-up


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      CLOSING THE SALE AND FOLLOW-UP




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      Learning Objectives
      • Define closing and explain how closing fits into
        the relationship-selling model

      • Understand different closing methods and
        provide examples of each

      • Discuss the concept of rejection and ways to
        deal with it

      • Identify various nonverbal buying signals

      • Know when to trial close


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      Learning Objectives
      • Recognize and avoid common closing
        mistakes

      • Explain aspects of follow-up that enhance
        customer relationships




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      Selling is Not a Linear Process

      • The close should be part of a natural
        progression of the dialogue with the
        customer

      • Use closing skills at the appropriate point in
        the customer dialogue – not just at the end

      • Use active listening skills to identify
        customer buying signals (verbal and
        nonverbal) throughout the sales call –
        examples are given on later slides

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      Selling is Not a Linear Process

      • Take the customer’s perspective in closing

      • Use the best approach to closing, based on
        the circumstances




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      Closing Methods
      •   Assumptive Close               •          Summary-of-
                                                    Benefits Close
      •   Minor Point Close
                                         •          Balance Sheet
      •   Alternative                               Close
          Choice Close
                                         •          Buy-Now Close
      •   Direct Close




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      Assumptive Close
      Allows the salesperson to verbalize the
        assumption to see if it’s correct:

        • “I can ship it to you on Monday. I’ll go
          ahead and schedule that.”
        • “Let’s get this paperwork filled out so we
          can get the order into the system.”
        • “You need Model 455 to meet your
          specifications. I’ll call and reserve one for
          you.”

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      Minor Point Close
      Focuses the buyer on a small element
       of the decision:

        • “What color do you prefer?”
        • “Do you want to use our special credit
          terms?”
        • “When would you like our technical crew
          to do the installation?”


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       Alternative Choice Close
       Gives the buyer multiple viable options:

          • “Which works best for your application,
            Model 22 or Model 35?”
          • “Would you like this delivered tomorrow,
            or would Monday be better?”
          • “Do you want it with or without the
            service agreement?”


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       Direct Close
       Simply asks for the order:
         • “It sounds to me as though you are ready
           to make the buy. Let’s get the order into
           the system.”
         • “If there are no more questions I can
           answer, I would sure like us to do
           business today. What do you say?”




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       Summary-of-Benefits Close
       Reviews the benefits accepted,
        reminds buyer why they are
        important, then asks for the order:
         • “Ms. Buyer, we’ve agreed that our
           product will substantially upgrade your
           technical capabilities, allow you to attract
           new business, and all the while save you
           money, isn’t that right? Let’s go ahead
           and place the order today. I will have my
           service technician out to train your staff
           next week.”
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       Balance Sheet Close
       2 column list: “Reasons for Buying” and
         “Remaining Questions.” Helps find
         out what’s holding the prospect back.

          • “Mr. Buyer, let’s take a few minutes to list
            out and summarize the reasons this
            purchase makes sense for you, and also
            list any remaining questions you may
            have. This will help us make the right
            decision.”

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       Buy-Now Close
       Creates a sense of urgency with the
        buyer (reason must be honest):
         • “We have a price increase on this
           product effective in two weeks. Orders
           placed today can be guaranteed to ship
           at the current price.”
         • “My company is running a special this
           week. This product is currently 20
           percent off the regular price.”
         • “I’m almost out of stock on this product in
           our warehouse.”
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       Dealing with Rejection
       1. Remember the difference between self-
          worth and performance

       2. Engage in positive self-talk

       3. Don’t assume you are the problem

       4. Positively anticipate the possibility of
          rejection and it will not overwhelm you

       5. Consider that the decision not to buy may
          have underlying reasons
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       Attitude is Important
       • Attitude – state of mind or feeling with
         regard to a person or thing

       • A positive attitude combined with
         tenacity closes more sales




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       Verbal Buying Signals
       • When the customer:

       • Gives positive feedback – “I like the new
         features you described.”

       • Asks questions – “What colors does it come
         in?”

       • Seeks other opinions – “Who are some
         other firms that have bought your product
         recently?”

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       Verbal Buying Signals
       • When the customer:

       • Provides purchase requirements –
         “My orders must be split among four
         warehouses.”




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       Nonverbal Buying Signals
       • Buyer is relaxed, friendly, open

       • Buyer brings out paperwork to
         consummate purchase

       • Buyer exhibits positive
         gestures/expressions

       • Buyer picks up sample and/or
         literature and examines it
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       Trial Close
       • Can be used at any time during the
         sales process

       • May elicit a negative response
         because buyer is not ready to
         purchase

       • A trial close that works becomes the
         close!

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       Common Closing Mistakes
       • Bad attitude

       • Ineffective preapproach

       • Not listening

       • “One size fits all” approach

       • Uncertainty about post-closing action

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       Common Post-Sale Complaints

       • Product delivery

       • Credit and billing

       • Installation of equipment

       • Customer training

       • Product performance

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       Handling Post-Sale Problems

       • Listen carefully to the customer

       • Never argue

       • Always show empathy

       • Don’t make excuses



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       Handling Post-Sale Problems

       • Be systematic

       • Make notes about everything

       • Express appreciation




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       Other Key Follow-Up Activities

       • Customer satisfaction

       • Customer retention and loyalty

       • Reexamine the value added

       • Reset customer expectations as
         needed


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