14 Selling Today Closing the Sale and Confirming the Partnership 10th Edition CHAPTER Manning and Reece 14 Closing the Sale and Confirming the Partnership

Six-Step Presentation Plan Approach (Chapter 10) Presentation (Chapter 11) Demonstration (Chapter 12) Negotiation (Chapter 13) Close Servicing the Sale 

Attitude Toward Closing “Some closing methods can move the customer from indecision to commitment. When these methods are used effectively, the prospect will not feel pressured.” “Closing should be thought of as the beginning of a long-term partnership.”

Strategic Planning FIGURE 14.2

Strategic Planning for Close Review barriers to closing sale Review closing guidelines Prepare several closing methods Plan to ask for order more than once Practice the closing

Actions During Close Recognize closing clues Focus on customer’s greatest interest Handle tough points early Avoid surprises Keep prospect involved Display confidence Accommodate buyer’s communication style Ask for order more than once

Buyer Anxieties Review the value proposition from the prospect’s view Reluctance can be due to: Loss of options Fear of making a mistake Social or peer pressures

Guidelines for Closing Sales Focus on dominant buying motives Longer selling cycles require multiple commitments Negotiate tough points before close Avoid surprises at close Display confidence at close Ask for order more than once Recognize closing clues

Closing Clues Verbal clues Questions Recognitions Requirements Nonverbal clues Facial expression changes Prospect nods agreement Leans toward you Examines product literature intently

Specific Closing Methods Trial close Summary-of- benefits Assumptive Special concession Multiple options Balance sheet Management Direct appeal Combination

Trial Close Made at opportune time “Can we ship in May?” “Would you like to start on the first of the month?” “Will a $500 down payment be possible?”

Summary-of-Benefits Close Reemphasize value-added buyer benefits “That’s $25 for each lunch, four conference rooms, and audio/visual support, plus our special meeting package. Can I make this reservation for you?”

Assumptive Close Subtle way to ask for decision, assuming customer will buy Comes near the end of the presentation “Because this shipment can meet your timetable, let’s go ahead and place your order.”

Special Concession Close Extra incentive for acting now Sample inducements Sale price Quantity discount Liberal credit plan Use with care

Multiple Options Close Present several options to customer Steps: Configure more than one product solution Stop when ample selection presented Remove less-appealing options or products

Management Close Involve senior executives or sales manager Upper-level managers add value Makes prospect feel important

Direct Appeal Close Ask for the order in a straightforward manner Should not come too early Gain prospect’s respect first After asking, remain quiet

Combination Closes Sales person simply combines two or more close methods for effectiveness

Practice the Close Make these closing methods work better via practice: Try sample “script” on sales manager Use a video camera, tape yourself Use closing worksheet to prepare

Confirmation Step Reassure customer Confirm sale and partnership Reduce buyer’s remorse— forms of regret, fear, anxiety about sale Compliment buyer on wise decision Thank customer for order

When Buyer Says No Learn to manage disappointment When a sale is lost: Make sure the deal is really dead, otherwise reopen the presentation Review chain of events, identify weaknesses Obtain customer feedback to improve

Discussion Questions Losing a sale can be miserable, and salespeople must learn to manage their disappointment when a sale is lost. What are several ways disappointment must be managed when a salesperson is still face-to-face with a customer? How do you think salespeople learn to cope with lost sales?

Facing Competition Some buyers want to look at competing products/services Do all possible to help customer make an intelligent comparison Stress areas where your product is superior