Jul 5, 2016

GUIDE TO CLOSING THE SALE


Again reminding you to show, tell, involve and commit procedure always. Tell the customer what is in it for him. Involve reminds you to use high involvement questions. Close or get a commitment to an action that leads to a close.

Prepare and plan the sales call.

Imaginatively show or demo the benefits.

Always assume the sale has been made.

Treat buyer questions and objections as buying signals. Answer in question form.

Write down and practice ways to ask objection to objective questions.

Probe for unspoken objections.

Encourage the buyer to evaluate your proposal.

Ask questions.

Write down and practice closing techniques and questions.

Close continuously throughout the sales call.

Always attempt to close after satisfactorily handling an objection.

Use the power of silence to close the sales.

Use pauses, a form of silence.

Listen, Listen and Listen.

THE IRA CLOSE

If you are selling a product that reduces warranty costs, improves productivity, saves time or money in any way, or which solves any problem, you must quantify the customer’s benefit. Giving the benefit a value is the sales person’s job. This is called investment return analysis.

If you calculate the IRA correctly, and if you include the entire return the customer will get over the life of the product, you can always make a powerful benefit statement. This is called the “IRA close” (see investment return analysis section).

To illustrate... in the case where your product reduces rejects by 5% (for e.g.), you must calculate how that 5% translates into money. It is most effective if you have the customer help you. For example

Q: “Mr. Customer, how many parts are you making?”

A: “100”.

(Note: The super sales person often knows the answers in advance, due to homework, and asks the question this way's: “Mr. Customer, each run is 100 parts, correct?” This gets an affirmative yes answer.)

Q: “And each part is worth $25 correct?”

A: Yes.

Q: “So, your reject rate is costing you 5%x100x$25, or $125 a run is not that right?”

A: “Yes”.

Q: “And let’s see, you do 8 runs a shift, and 2 shifts a day? So rejects are costing you $2000 a day?”

A: “Yes”.

The sales person continues this IRA, step by step ultimately arriving at a cost per year or over 3 years or whatever time constitutes the life of the product.

If the reject reducing solution costs $25,000 the sales person says ‘Well Mr. Customer based on what you have told me, if you invest $25,000, you will get back $600,000. Where do we go from here?”

IRA WORKSHEET CLOSE

This close is adaptable to whatever quantifies benefit solution is important to the customer. Every great sales person should have a needs analysis and investment return analysis worksheet i.e. designed to carefully probe hi target customer. By asking a series of skillful questions, the sales person can both calculate a true benefit for his customer, and use the worksheet to close him.

The sales person simply begins to fill out the worksheet, asking the customer all the pertinent information. If the customer balks the sales person explains his trying to help the customer calculate the savings, using the customer’s own numbers, and that it will save the customer time and money.








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