It's Closing Time! part 1

You have made your way to the table.   You have described every feature your product offers.   Then comes the moment of truth...will they buy?   The awkward silence.   You look at your prospect hoping they simply say,"   "I'll take it!"   Sometimes they do...other times...   There is an expression in sales that says, "Always Be Closing".  On the surface that phrase and the verb "to close" could seem manipulative and disrespectful toward clients. A battle over what they want to do and what you want them to do...a tug of war.   Yes, the negative perception of sales is due largely to the tactics of people whose motives are less than sincere and their products less than advertised.   But when you are there to serve and the product meets the majority needs of your prospect, then closing is a necessary interplay...no different then wooing and pursuing someone you are attracted to...just not as scary!   It is the power of words.   Sincerity of words is even more compelling, which is why some of the closes we will review will not sound or feel "right" to you.  The goal is not to script you (hard to be sincere when you are memorizing!), but to give you ideas on what to say when the moment of truth arrives. Let's start with some of the more common closes;   Assumptive Close - The type of close "assumes" that the client will buy without them explicitly saying it.  Some sales people begin filling out the paperwork saying, "Go get your checkbook, I will complete the contract and everything will be done in a few minutes."   This type of close allows you to take the first step of action toward completing the sale.  In the above example, the client will go get the checkbook or state an objection.  If they get the checkbook...proceed.  If you get an objection, you have more work to do.  Either path gives you a next step opportunity.   Think It Over Close - Somewhat opposite of the Assumptive Close, this one actually "backs off" to give the prospects time to mull over their decision.  There is a point in sales interaction when you know they are serious but on the fence.  You could decide to exercise all of your closing muscles, or you can relinquish control and give them a reprieve  This type of close can establish you as a "consultant/advisor" more than an aggressive sales person.  It can also set the stage for a longer relationship due to your low pressure approach.   "We have covered quite a bit, and you have asked some great questions.  You strike me as a very thoughtful person and a good nights sleep over my proposal might be all you need to have the confidence to buy.  What if I call you tomorrow at 6pm?"   Yes, sometimes your act of kindness is just giving the prospect a way out of the sale - would they have bought anyway...or worse, had remorse?  You shouldn't use this until all major objections have been satisfied.  Some sales people hate the "be backs" as they believe they don't turn into sales.  Meticulous set-up and follow-up can actually help you close more sales by being willing to give them time to think.    What Can You Afford Close - Most products have pricing flexibility based on added features and "bells and whistles".  People are biased to have an "I want it all" mentality or "I just want the basics".  Whether it is a car with standard features, or an insurance policy with a variety of riders, there comes a point when you have to sell the customer what they can afford.   "Mr.. Jones, affordability is always a concern and I want to provide you the highest value at a price that is comfortable...that would be important, right?  What amount per month is most comfortable for you and would still allow you to meet your desire to protect your family?   You still want to connect value to whatever amount they can afford.  You don't want to "cheapen" the purchase because they aren't buying the superior product.  Depending on your product, as their life changes, you should be able to go back and upgrade or add more.   In my profession of insurance, the overselling of premiums is the #1 reason for lapses...if they cant afford it...they wont pay for it!   We will continue to review closing techniques over the next several days.  The key will be to review them and see if any of them jive with your product and your personality.  A student of sales will write out their closes and practice with a colleague for feedback...yes, we all hate role playing!   But it works!   In order to build a career in sales you will have to have an arsenal of closes and know when... It's Closing Time!   Until tomorrow, I wish you Money, Power, Success!