Information in this article is being gathered by me when I first joined sales.
My biggest query being why most management books never explains the sales closing techniques I have always heard my Profs. saying it is an instinct there is never a right time you can learn about sales closing.
So after reading few articles I gathered few sales closing techniques.
Different types of sales closing:
1.Puppy dog close-
Imagine standing in a pet shop, tempted to buy that
cute little puppy. Now imagine how that desire would be enhanced twenty fold, if
the puppy were put into your arms. That is exactly what the sales person
does when they put the product in your hand. We all experienced while
travelling the street vendor tries to sell the products before that they put
the product in our hand, even if you go to a supermarket the new salespeople
giving free cakes or biscuits actually does half of their sale once we have it.
2. Demonstration: Demonstrate product in front of
them. Infomercials are a multi-billion dollars a year industry. Sometimes words
don’t do something justice. Let the product sell itself. You will most likely
use another one of the closes listed as you demonstrate.
3.Discount: Reduce price by taking off a
percentage. I personally hate 10% off. It is so cliché. Do something better
than that if you can. “I want to work together with you , so let me knock
off 15% on your first two orders. We can start saving you money, which adds to
your bottom line. Does saving money sound good to you?”
4.The Assumptive close-In sales we need to act a lot;
this is where you act as though the other person has already made the decision.
It moves the conversation towards the next level of questions.
Understanding their requirements and planning it for future and how fixing next
meeting. The good part of this technique is sales person doesn't allow the
customer to think they want or not want so the success of sales closing is
more. " In my personal experience". It might happen the customer
might get offended at times too or they just want to bluff around.
5.Concession: Give in to some demand in exchange
for the “yes”. “I will make sure you always get free shipping for every
order over $500 just like you requested. Let’s get the first order submitted
for you now. Will that work for you?”
High level of self-confidence and
self-esteem along with your personality accomplishes half of your work in
sales.
6.Multiple Choice: Give several choices for them to
choose from. Once they tell you which one…you made the sale.
7.The Take
Away Close-
You’re on the verge of closing the
deal, but your customer is reluctant to proceed.
Using the Take Away
closing technique, you can offer to withdraw the whole deal from the prospect
in order to push them to accept the offer. This technique can be used for
prospects who happen to be a time-sink and take up a lot of your time – with
little to show by way of progress.
The reason why it’s effective is that letting go of
a potential client shows how confident you’re in your product, which then gets
the prospect to reconsider about the good product that he/she may be missing
out on.
Mostly it is the last thing a sales person do to
know the interest of the customer or to close the sale within a certain
time.
8.Design: Special and/or unique design. This should
be used if your product is truly different than anything else.
9.The Now or
Never Close
This technique is best
used when the prospect is on the line about buying your product. Similar to the
Take Away Close technique, a sense of urgency comes into play and the fear of
missing out on a discount nudges the prospect over the proverbial line to get
your product.
10.Used Car Salesman: This doesn't have to be
negative. Go to bat for your prospect. If you truly are trying to work
something out for your prospect you may not have the authority to make the deal
you want to give. “Let me talk to the manager and see if I can get the special
pricing extended for six months. If he says yes, do we have a deal?”
11.The
Summary Close
Summary close works great when you
have gone through an extensive discussion/ evaluation over a period of time and
it is now time to switch gears. Just a simple act of selectively
summarizing the highlights and the pointing towards the only logical conclusion
that emanates from connecting the dots.
12.Suggestive: Tell them
what you suggest they do. You are the "doctor". You listened to them
and can see what they really need. Use this especially if the prospect does not
give you a specific commitment or quantity.
13.Something
For Nothing Close
You give your
prospect a free add-on or an extra feature in goodwill and they will be
obligated to do something in return – that something, in this case, can be
buying the product.
Something for Nothing works because people like
free things. But just to keep things clear, the freebie you give should be of
value to them and less value to you.
Humans tend
to return good deeds.
14.The “I’ll think it over” close.
Potential clients all seem to use the same
procrastinating phrases: “I’ll think it over;” “We want to sleep on it;” “Why
don’t you come back tomorrow/Next week/After the holidays and we’ll let you
know.” But will they think it over? Of course not.
As soon as you leave the scene they’ll forget it.
It’s a brush off...a stall...a way of getting the opportunity to shop around
some more and put of making a decision for another day. Asking repeated
question and made them agreeing to the facilities of your product, at last the
hit comes with money which they obviously think upon making it more considerate
thinking.
15.The sharp angle close:
Instead of just answering a question with a question,
as in the standard porcupine, you answer with a sharp-angled question. If they
reply in the way their original question suggests they will, they’ve bought it.
16.Tug on the Heart: How does it make them feel?
Safe, secure, happy etc. "It is a good feeling to know you are making the
right decision for your children isn't it?"
17.Prospect: “If we decided to go with your
product, we’d have to take delivery by June 13th. Could you handle that?”
18.Champion: “If I could guarantee delivery by June
13th, are you prepared to approve the paperwork today? The Champion will, of
course, now shut up until the client answers. Now the feeling the client has is
that they can only get guaranteed delivery by the 13th if they place their
order now. The salesperson didn’t say that was the case, but the sharp angle
close allows you to imply urgency.
19.The
Objection Close
Once you have made sure
that your prospect has understood everything about your product and what it has
to offer, try closing the deal by asking them for any objections they might
have with the product.
This approach allows the prospect to raise any
final objections or doubts that they need to clear up without saying no to the
deal.
20.Pass the Buck: Let the other person with you do
the close. Again this will be a case where you will use one or several of the
other closes listed, but you realize that the other salesman, manager or owner
who is with you can close this sale better than you at that moment. “ John
has been with our company for 25 years and I think he can answer your questions
a little better.”
21.Losing Money: They will lose money or
profitability by not buying. “ I have just shown you, if you don't
switch to our ABC service you will be losing money from your bottom line. Let
me help you increase your profitability. Can we get this started for you next
week ?”
22.Yes-Yes-Yes: Ask questions throughout the
presentation where “yes” is the only answer. These are called “mini-closes”
that you do along the way of your presentation. When you get to the end they
agreed with you on many things you mentioned. It will be easier to close them
and lessen objections this way. Ex: “Do you see how this can benefit you? Won't
it be nice to know your safe with this widget? You do want your family to have
the benefit of this widget don't you?”
But, after being in sales for an year, I realized we cannot determine any specific type to perform at a time and neither sales is scripted. It is a practice or a skill that makes you successful, and always the instinct that works.
