1. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-1 CHAPTER 14 Adapting the Close and Confirming the Partnership

2. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-2 Learning Objectives Describe the proper attitude to display toward closing the sale List and discuss selected guidelines for closing the sale Explain how to recognize closing clues Discuss selected methods of closing the sale Explain what to do when the buyer says yes and what to do when the buyer says no

3. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-3 Six-Step Presentation Plan 1.Approach (Chapter 10) 2.Presentation (Chapter 11) 3.Demonstration (Chapter 12) 4.Negotiation (Chapter 13) 5.Close 6.Servicing the Sale

4. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-4 Six-Step Presentation Plan FIGURE 14.1

5. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-5 Adapting the Close: Attitude that Adds Value Use adaptive closing questions to confirm the sale and a long-term relationship Continually adding value throughout the presentation makes closing easier Closing should not be viewed as a strategy to win at the customer’s expense

6. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-6 Adapting the Close: Attitude that Adds Value Some closing methods move customer from indecision to commitment Asking for the order is less difficult if the salesperson is strategically prepared for the close

7. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-7 PLUS V7ision Closing the sale is easier if you review the value proposition effectively from the prospects point of view. See the Website

8. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-8 FIGURE 14.2 Strategic Planning

9. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-9 Review the Value Proposition Have you effectively summarized the mix of key benefits? Will your proposal provide a solution to the customer’s problem? Is your proposal strong enough to win over a customer who is experiencing buying anxieties?

10. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-10 Buyer Anxieties Reluctance can be due to: Loss of options Fear of making a mistake Social or peer pressures Noted author Gene Bedell reminds us that buying often causes emotional stress.

11. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-11 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 self-confidence at close Ask for order more than once Recognize closing clues

12. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-12 Closing Clues Verbal clues Questions Recognitions Requirements Nonverbal clues Facial expression changes Prospect nods agreement Leans toward you Examines product literature intently

13. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-13 Specific Closing Methods Trial close Summary-of-benefits Assumptive Special concession Multiple options Balance sheet Management Direct appeal Combination

14. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-14 Closing Worksheet FIGURE 14.3

15. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-15 Trial Close Opportunities FIGURE 14.4

16. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-16 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?”

17. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-17 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.”

18. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-18 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

19. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-19 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?”

20. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-20 Special Concession Close Extra incentive for acting now Sample inducements Sale price Quantity discount Liberal credit plan Use with care

21. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-21 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

22. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-22 Balance Sheet Close Outlines reasons to buy and not to buy Engage customer in this process Reasons to buy Reasons not to buy

23. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-23 Management Close Involve senior executives or sales manager Upper-level managers add value Makes prospect feel important

24. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-24 Impending Event Close Also known as the positive/negative technique Requires knowing the needs of the prospects well enough to turn their objections into your selling points

25. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-25 Combination Closes Sales person simply combines two or more close methods for effectiveness

26. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-26 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

27. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-27 Flexing to the Customer’s Communication Style

28. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-28 Confirming the Partnership When the Buyer Says Yes 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

29. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-29 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

30. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-30 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

31. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-31 Key Concept Discussion Questions Describe the proper attitude to display toward closing the sale List and discuss selected guidelines for closing the sale Explain how to recognize closing clues

32. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-32 Key Concept Discussion Questions Discuss specific methods of closing the sale Explain what to do when the buyer says yes and what to do when the buyer says no

33. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 14-33 14-33 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2010 Pearson Education, Inc. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall