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MARKETING AND SALES MANAGEMENT
CHECK POINT 97: PERSONAL SELLING

This Check Point Is Available By Subscription Only,
But You Can Still Check Out The Menu Below.

1. what is personal selling?
2. steps in the personal selling process
3. understand the interaction between buyers and sellers
4. locate and qualify potential customers
5. sales leads management
6. directories for sales people
7. referrals
8. cold canvassing
9. prospect lists
10. develop a suitable approach to each potential customer
11. the ten commandments of telephone prospecting
12. the ten commandments of approaching prospects on the phone
13. why should you thank prospects when they say "no"?
14. identify the personality type of each prospect
15. analyze requirements of each potential customer
16. make a formal presentation to the potential customer
17. overcome the potential customer's objections
18. fears of some prospective customers
19. convert the potential customer into a real customer
20. popular closing techniques
21. How To Handle Prospects Who Don't Want To Buy "Today"?
22. Follow-Up The Sales With The Customer
23. The Biggest Mistakes Sales People Make
24. The Ten Commandments Of Closing Sales Nearly Every Time
25. For Serious Business Owners Only
26. The Latest Information Online
 

DO I NEED TO KNOW THIS CHECK POINT?

 

MARKETING AND SALES MANAGEMENT
CHECK POINT 97: PERSONAL SELLING

Please Select Any Topic In Check Point 97 Below And Click.

1. what is personal selling?
2. steps in the personal selling process
3. understand the interaction between buyers and sellers
4. locate and qualify potential customers
5. sales leads management
6. directories for sales people
7. referrals
8. cold canvassing
9. prospect lists
10. develop a suitable approach to each potential customer
11. the ten commandments of telephone prospecting
12. the ten commandments of approaching prospects on the phone
13. why should you thank prospects when they say "no"?
14. identify the personality type of each prospect
15. analyze requirements of each potential customer
16. make a formal presentation to the potential customer
17. overcome the potential customer's objections
18. fears of some prospective customers
19. convert the potential customer into a real customer
20. popular closing techniques
21. How To Handle Prospects Who Don't Want To Buy "Today"?
22. Follow-Up The Sales With The Customer
23. The Biggest Mistakes Sales People Make
24. The Ten Commandments Of Closing Sales Nearly Every Time
25. For Serious Business Owners Only
26. The Latest Information Online
 

DO I NEED TO KNOW THIS CHECK POINT?

 

WELCOME TO CHECK POINT 97

TUTORIAL 1 General Management TUTORIAL 2 Human
Resources Management
TUTORIAL 3 Financial Management TUTORIAL 4 Operations Management TUTORIAL 5 Marketing
And Sales Management
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HOW CAN YOU BENEFIT FROM CHECK POINT 97?

 
The main purpose of this check point is to provide you and your management team with detailed information about Personal Selling and how to apply this information to maximize your company's performance.
 
In this check point you will learn:
 
• About main tasks and basic steps in the personal selling process.
• About locating and qualifying potential customers.
• About sales leads management and sources for generating sales leads.
• About generating referrals, cold canvassing, and using prospect lists.
• About various methods for approaching potential customers.
• About the ten commandments of telephone prospecting.
• How to deal with different personality types in sales.
• How to analyze each potential customer's specific requirements.
• About methods of making presentations to potential customers.
• How to overcome the potential customer's objections... and much more.
 

LEAN MANAGEMENT GUIDELINES FOR CHECK POINT 97

 
You and your management team should become familiar with the basic Lean Management principles, guidelines, and tools provided in this program and apply them appropriately to the content of this check point.
 
You and your team should adhere to basic lean management guidelines on a continuous basis:
 
Treat your customers as the most important part of your business.
Provide your customers with the best possible value of products and services.
Meet your customers' requirements with a positive energy on a timely basis.
Provide your customers with consistent and reliable after-sales service.
Treat your customers, employees, suppliers, and business associates with genuine respect.
Identify your company's operational weaknesses, non-value-added activities, and waste.
Implement the process of continuous improvements on organization-wide basis.
Eliminate or minimize your company's non-value-added activities and waste.
Streamline your company's operational processes and maximize overall flow efficiency.
Reduce your company's operational costs in all areas of business activities.
Maximize the quality at the source of all operational processes and activities.
Ensure regular evaluation of your employees' performance and required level of knowledge.
Implement fair compensation of your employees based on their overall performance.
Motivate your partners and employees to adhere to high ethical standards of behavior.
Maximize safety for your customers, employees, suppliers, and business associates.
Provide opportunities for a continuous professional growth of partners and employees.
Pay attention to "how" positive results are achieved and constantly try to improve them.
Cultivate long-term relationships with your customers, suppliers, employees, and business associates.

1. WHAT IS PERSONAL SELLING?

THE PRIME OBJECTIVE OF THE SALES FORCE TRAINING

Business owners and sales managers should master the art of personal selling and ensure that each sales person is properly trained as a sales consultant to ensure the successful performance of the organization in a highly competitive market environment.

One of the prime objectives of the Sales Force Training Program is to ensure that sales people understand the basic principles of personal selling. Donald Jackson suggests that Personal Selling consists of several tasks outlined below. (54)

 TASKS IN THE PERSONAL SELLING PROCESS

1.

Finding potential customers or prospects that require your products or services.

2.

Studying potential customers' specific needs.

3.

Presenting your products or services in such a way that your potential customers are fully convinced of getting the benefits provided by these products or services.

4.

Answering any objections that potential customers may have.

5.

Asking potential customers for a commitment to place an order and close the sale.

6.

Following up to ensure that all customers who have bought from you are satisfied with their purchase and to resolve any outstanding problems.

 

ADDITIONAL INFORMATION ONLINE

Personal Selling By Michael Conklin.
Personal Selling Process By Randy Staus.
The 5-Step Sales Process By Jason Nazar, Docstoc.
The Nine Steps To Sales Process By Dexter Moscow.
Selling Is Hard Work By Infoteam Sales Process Consulting.

2. STEPS IN THE PERSONAL SELLING PROCESS

PERSONAL SELLING

Truly Professional Selling is a process that fosters the development of a mutually beneficial relationship in which Buyer and Seller alike both profit and benefit. This mutually beneficial arrangement leads to long-term relationships, repeat business, and favorable word-of-mouth communication with other customers or prospects. 

In today’s competitive environment, customers don’t like to “be sold”. They prefer to make their own buying decisions and purchase products or services when they are actually ready. Imagine you walk into any retail store where a sales person approaches you and asks: “Can I help you?” Unless you have a specific question, your immediate reaction will be: “No thank you, I am just looking…”

For this reason, it is critical that Personal Selling should be based on a Consultative Selling Approach (or "Pull" Approach) toward a customer instead of trying to use a Hard-Sell Approach (or "Push" Approach) which most customers usually resent. Your customers will always appreciate when you try to help them to make a prudent buying decision instead of trying to sell them something because you just want to make a sale and additional profit or commission.

In fact, the entire Personal Selling Process should be based on a consultative approach to achieve better results and develop healthier long-term relationships with customers.  The personal selling process entails several distinct steps described below. (55)

THE PERSONAL SELLING PROCESS

Step 1: Understand The Interaction Between Buyers And Sellers.

Step 2: Locate And Qualify Potential Customers (Prospects).

Step 3: Develop A Suitable Approach To Each Potential Customer.

Step 4: Analyze Each Potential Customer's Specific Requirements.

Step 5: Make A Formal Presentation To The Potential Customer.

Step 6: Overcome The Potential Customer's Objections.

Step 7: Convert The Potential Customer Into A Real Customer, i.e. "Close" The Sale.

Step 8: Follow-Up The Sale With The Customer.

 

ADDITIONAL INFORMATION ONLINE

Selling Fundamentals By Tom Hopkins.
Steps In The Selling Process By Stewy's Greetings.
How To Sell Your Product Or Service By Victor Antonio.
How To Master The Art Of Selling? By Tom Hopkins, Jonathan Holden.
Selling The Invisible: Four Keys To Selling Services By Christine Clifford.

3. UNDERSTAND THE INTERACTION BETWEEN BUYERS AND SELLERS

STEP 1: UNDERSTAND THE INTERACTION BETWEEN BUYERS AND SELLERS

One of the fundamental issues that sales people have to understand is the nature of relations between purchasing and selling organizations. This relationship should be viewed in terms of providing Sales Consulting Service to prospective purchasing organizations and helping them to make their own prudent purchasing decisions.

The Personal Selling Process is based on continuous interaction between buyers and sellers outlined below.

INTERESTS OF BUYERS AND SELLERS IN THE MARKETPLACE

 
Buyers   Sellers
Buyers act on their own behalf or on behalf of companies that constantly generate the need for additional products and services. One of the buyers' major objectives is to acquire the necessary products and services of acceptable quality at a minimal cost.   Sellers represent their companies and offer various products and services to customers at specific prices. The prime purpose of selling organizations is to sell as many products or services as possible and to make a sizeable profit.
 

CONTINUOUS EXCHANGE OF PRODUCTS AND SERVICES

The ultimate objective of the Personal Selling Process is to facilitate a continuous exchange of products and services for money between buyers and sellers in the marketplace.

Each side, obviously, pursues its own interests and attempts to gain additional advantages throughout the interaction process. Normally, however, this process results in a Mutually Beneficial Exchange where the buyers' needs for products and services are satisfied by sellers at prices acceptable to both parties.

Again, sales people must always remember to use the Consultative Approach in every selling situation.

ADDITIONAL INFORMATION ONLINE

Understanding Today's Technology Buyer By Ian Baxter.
Science Of Persuasion By Robert Cialdini And Steve Martin.
Attitude Makes All The Difference By Zig Ziglar, Atractualization.
Understanding Customer Behavior By Maurice Allin, AQ's Blog & Grill.
How To Align Your Sales Process To Your Buyer's Journey By H. Macfarlane.

4. LOCATE AND QUALIFY POTENTIAL CUSTOMERS

STEP 2: LOCATE AND QUALIFY POTENTIAL CUSTOMERS

Once the sales person understands the basic mechanism of buyer-seller interaction, the active Personal Selling Process may begin. The first task in personal selling is to locate and qualify potential customers or prospects. This process is called "Prospecting".

Searching, or prospecting, for new customers is one of the most important and difficult sales tasks. This process usually requires a substantial investment in time, patience, and persistence on the part of the sales person. A sale usually does not occur instantly or by accident. The Sales Person must locate suitable prospects and identify several parameters outlined below.

PARAMETERS OF A PROSPECT

   
Type
Of Prospect
  Nature
Of Business
  Current And
Potential Needs
 

THE PROSPECTING PROCESS

The Sales Person, or Sales Consultant, will subsequently have to make a number of sales calls, meet the prospective buyer, and cultivate a buyer-seller relationship to produce a sale.

There are numerous possibilities for locating new Prospects. These often depend on whether the seller represents a new company or a well-established organization. New companies usually start from scratch and use all possible sources for locating new prospects. Well-established companies generally have an easier task since they are already known in the marketplace and have sound connections with buyers.  Both types of companies, however, use similar methods, some of which are outlined below.

METHODS FOR LOCATING NEW PROSPECTS

Sales Leads
Management

Directories

Referrals

Opinion
Leaders

Cold
Canvassing

 

ADDITIONAL INFORMATION ONLINE

Prospecting Made Easier By Hoovers Tube.
How To Qualify Potential Clients? By Helen Dowling.
Jordan Belfort On Prospecting Skills By Wolf Of Wall Street.
How Do Sales People Qualify Potential Customers? By Stuart Quinn.
Prospecting Process Using Facebook By Jode, Facebook Prospecting Academy.

5. SALES LEADS MANAGEMENT

SALES LEADS MANAGEMENT

Many companies receive Direct Inquiries about their products or services from existing customers or from people who have never bought from that company before. Such inquiries provide important Sales Leads to sales people and each lead must be attended as soon as possible.

Sales leads represent an excellent source for locating new customers who, in effect, invite the sales person to call. Sales Leads Management is, therefore, an important method in initiating the personal selling process. Additional sales leads may be generated by several sources outlined below.

SOURCES FOR GENERATING SALES LEADS

1.

Advertising in appropriate newspapers and magazines.

2.

Advertising on the radio or on the TV.

3.

Advertising online.

4.

Direct mailing to selected market segments.

5.

Participating in trade shows.

6.

Conducting introductory seminars.

7.

Using special software programs.

 

SALES MANAGEMENT SOFTWARE PROGRAMS ONLINE

You and your sales management team should consider various Sales Management Software Programs which can substantially increase your company's ability to generate and manage sales leads. You can obtain additional information about various sales management software programs online.

FieldOne.
RelateIQ.
SalesGenie.
Infusionsoft.
PlanPlus Online.
LeadMaster CRM.
Microsoft Dynamics CRM.
Internet Sales Leads Marketing.
 

ADDITIONAL INFORMATION ONLINE

What Is CRM? By DiscoverSugarCRM.
Gmail As A CRM Solution By Dottotech.
Effective Sales Lead Management By Craig Ridley.
What Is Salesforce CRM? By Salesforce Foundation.
CRM Customer Relationship Management Software By Eli The Computer Guy.

6. DIRECTORIES FOR SALES PEOPLE

DIRECTORIES

Directories provide another important source for locating new prospects. Such directories list the names and addresses of various companies according to their products or services, geographic location, number of employees, or assets, as outlined below. Many of these directories also offer information online.

Depending upon a particular classification, the sales person may estimate the size and potential requirements of the individual prospect in a required geographical location.

EXAMPLES OF LEAD DIRECTORIES ONLINE

The Wire
Salesforce.
Thomas Net.
Cole Information.
Web Yellow Pages.
All Star Directories.
Dun & Bradstreet "Market Identifiers".

Also, please watch this video: Brilliant Directories.

7. REFERRALS

REFERRALS

Referrals represent another important source of leads for a sales person. With this method, an existing customer is asked to provide a recommendation about a particular product or service to another person or organization.

The advantage of this method is that the Recommendation is given by a customer, who has already purchased the product or service and not by the sales person who may express a biased opinion. Naturally, referrals can be expected only if existing customers are satisfied with products or services purchased from the company.

It may be extremely useful to have a Good Sales History with large organizations that are considered leaders in their particular areas of business. This way, if a successful sales history with an Opinion Leader can be produced, a sales person may effectively use it as a "third-party" recommendation for other companies. In addition, a successful sales history with an opinion leader may be effectively used in an advertising or direct marketing campaign.

EXISITNG CUSTOMER LIST

You will not find a better referral than a referral from a satisfied customer!

You should prepare an Existing Customer List of your company's past and current customers. Once this list becomes available, you should assign a suitable sales person within your organization to approach your customers by phone, one by one, and enquire about their current level of satisfaction with work performed and products supplied by your company in the past. Your customers will certainly appreciate the chance of expressing their honest opinion and this may provide your company with an opportunity to generate valuable referrals in exchange for additional benefit, such as a free service provided by your company or a cash bonus. You may be surprised to what extend your former customers will be willing to "go the extra mile" and open their personal phone book in exchange for additional free benefits or extra cash.

HOUSE PARTIES

Depending upon the nature of your business, you may also consider asking some of your former and current customers to arrange a House Party at their house and invite their family members, friends, and neighbors who may be potentially interested in learning more about your specific products or services. In exchange, you can offer the party hosts additional free product or service, or a cash bonus for each fresh lead or each new customer.

This approach may work well for certain type of product or service providers and several types of contractors, such as solar systems.

ADDITIONAL INFORMATION ONLINE

How To Ask For Referrals By Don Connelly.
Why People Fail At Getting Referrals? By Bill James.
How To Ask For A Referral And Build Your Business By Brian Tracy.
Referral Prospecting The Smart Way To Generate Sales By Wayne Berry.
The Secret Of Getting Referrals By Jeffrey Gitomer's Sales Training Channel.

8. COLD CANVASSING

COLD CANVASSING

Many direct sales organizations use Cold Canvassing as a time-tested approach for generating leads and initiating new contacts with prospective customers without prior appointments.

Sometimes the cold canvassing approach can be effective in obtaining New Prospects. However, there is no particular guarantee of success. Cold canvassing is often used by sales people who may have a canceled appointment in the middle of their schedule and need to fill the time until the next planned call.

COLD CANVASSING TEAM

You should consider developing a Canvassing Team and directing each team member to canvass pre-selected geographic areas for new opportunities and generating fresh sales leads. In this case, you should also develop a special training program to ensure that each canvasser has good understanding about your company's products or services and possesses good "people skills". Such combination of skills will enable each canvasser to generate additional fresh leads which you would not be able to generate through telemarketing, direct mail, or Internet.

Note:

Cold canvassing can be done in any weather, including when it's warm and even hot.

ADDITIONAL INFORMATION ONLINE

7 Cold Calling Secrets By Tony Gattari.
Basic Cold Calling Techniques By Dmorphew63.
The 3 Steps Of A Killer Cold Call By Gary Hankins.
How To Get Past Gatekeepers By Cesar L. Rodriguez.
Cold Calling: Nail The First 20 Seconds By Rapid Learning Institute.

9. PROSPECT LISTS

A PROSPECT LIST

Once a list of prospective customers is available, it should be summarized in a Prospect List. Furthermore, it is necessary to qualify each prospect on an individual basis. This entails evaluation of the prospect's company characteristics outlined below.

THE PROSPECT'S COMPANY CHARACTERISTICS

• Possible Purchasing Requirements.

Possible purchasing requirements depend primarily upon the company's nature of business (e.g., plastic parts manufacturers need chemicals, furniture manufacturers need timber).

A Company's Size.

A company's size may be judged by its total number of employees, annual volume of sales, or other suitable criteria.

• Buying Authority.

It is essential to understand the buying procedure and authority in a particular company. For example, an operations manager may be interested in new equipment but may not have authority to place a purchase order. In many instances, the selling begins with people who specify various products during the design stage, e.g., architects, engineers, draftsmen.

• Ability To Pay.

It is important to establish the creditworthiness of a prospective customer. Dun & Bradstreet, for example, is one of the major sources of credit information used for this purpose. It is necessary to ascertain that the prospective customer does not represent a potential credit risk and will pay accounts promptly.

 

ADDITIONAL INFORMATION ONLINE

Using Prospects Lists In LinkedIn By Gini Dietrich.
Effective Ways To Buy Prospect Lists By Jonathan Bein.
3 Ways To Grow Your List Of Prospects By Mark Wickersham.
Mailing Data Prospect Lists Of Business Directors By Tobi Harris.
The Big List Building Mistake You Must Avoid By Mark Wickersham.

10. DEVELOP A SUITABLE APPROACH TO EACH POTENTIAL CUSTOMER

STEP 3: DEVELOP APPROACH TO POTENTIAL CUSTOMERS

Once prospects are located and qualified, it is necessary to develop a suitable Approach For Prospective Customers. This means that sales people must set specific objectives pertaining to their future calls, such as introducing a new product or promoting an existing service. Sales people must always remember to act as Sales Consultants in every selling situation instead of trying to push their own selling agenda.

Some methods commonly used by sales people are outlined below.

METHODS FOR APPROACHING POTENTIAL CUSTOMERS

• A Personal Letter.

Personal letters to prospective buyers are regularly used by sales people as the first step in developing sound buyer-seller relations. Effectively drafted letters may help sales people in introducing their companies and providing essential information about products or services that are offered to prospective customers. It is advisable to also include brochures or other descriptive material that could provide additional information about a particular product or service, and to list specific benefits which may interest a prospective buyer.

A Telephone Contact.

Telephone contacts are also frequently used by sales people in initiating new buyer-seller relations. When approaching a new prospect by phone, the sales person always has a better chance if a personal letter has been sent earlier. In this instance, the sales person can refer to the letter and generate additional interest on the part of the prospective buyer. The prime purpose of the phone call is to follow up on the introductory letter and to sell the idea of a meeting with the buyer. In many other instances, however, the telephone is used as a highly effective cold canvassing tool.

• An Online Contact.

The Internet and social media offer wonderful opportunities to make contacts with a pre-selected group of potential customers online. This type of approach may be particularly effective and provide above-average results because the entire community of the Internet users shares an invisible bond of being "Internet-able" and "Internet-savvy". Moreover, online users frequently provide information regarding their willingness to accept information about a specific range of products or services thereby creating a permissive environment for direct e-mail approach.

• A Personal Contact.

A personal contact is certainly a very effective approach in initiating buyer-seller relations. However, it is difficult to simply walk into the buyer's office without a prior arrangement. Buyers, like other employees, are usually busy and follow their own work schedule. An additional barrier is created by receptionists who are instructed to obtain preliminary information from all visitors, particularly from sales people. Thus, it is advisable to arrange a personal meeting with a prospective buyer well in advance by means of a preliminary telephone contact.

 

ADDITIONAL INFORMATION ONLINE

Customer Buying Styles By Elizabeth Wendling.
24 Techniques For Closing The Sale 1 By Brian Tracy.
How To Make A Sale In 20 Seconds By Bruce J. Bloom.
How To Become A Great Sales Person By Victor Antonio.
Simple Tricks To Approach + Land Big Clients By Marie Forleo.

11. THE TEN COMMANDMENTS OF TELEPHONE PROSPECTING

THE MAGIC SALES TOOL

To many sales people the Telephone represents a magic tool, which provides an instant connection with a potentially large number of prospects in a relatively short period of time. Obviously, not all sales people are comfortable in using the telephone and, subsequently, they may require additional training. In addition, sales people must be reminded to use the Consultative Approach when speaking with prospects on the phone to increase the number of sales appointments or achieve improved sales results.

Since the telephone plays such an important role in the personal selling process, it is important for most sales people to become familiar with the Ten Commandments Of Telephone Prospecting. Typical ten commandments are outlined below. (56)

THE TEN COMMANDMENTS OF TELEPHONE PROSPECTING

1. Make An Appointment With Yourself.

Telephone prospecting requires discipline. You must allocate special time which you will spend on the phone without any interruptions. Be prepared to get on the phone and stay there for as long as you originally planned.

2. Organize Yourself Before You Start Calling Prospects.

Prepare a prospect list worksheet - names and phone numbers of prospects - from suitable sources, such as Yellow Pages, phone directories, manufacturers' directories, or any other suitable sources. Make enough space in the prospect list worksheet to enter additional names, call-back dates, and any other relevant information. This might become very useful later.

3. Make Phone Calls During Suitable Hours.

Try to identify the best time to call your prospects. Different prospects will prefer different calling times. Make notes of this and do not repeat the same calling mistakes. When calling prospects in various companies, avoid calling on Mondays in the morning, on any day between 12:00 am and 2:00 pm (lunch time), and on Fridays after 3:00 pm. When calling prospects at home, avoid lunch and dinner times, do not call after 7:00 pm, and do not call on Saturdays after 3:00 pm and on Sundays.

4. Make Phone Calls To A Specific Target Market.

Identify a specific target market and start calling prospect in that market. Try not to mix different target markets, since it will change your mode of conversation. Prepare a short phone presentation for each target market, memorize it, and try to stick to it. Make sure that you do not talk like a “robot” or sound like you are on “auto-pilot”. Always be honest, spontaneous and friendly. Most importantly, learn to smile on the phone, because when you smile, you may get a similar reaction on the other end of the phone line. This, in turn, may help you to achieve the original purpose of your phone call.

5. Learn To Be Conversational And Concise.

Calling strangers is not an easy task. It is essential, therefore, that you train yourself to be conversational with people on the other end of the phone line. Be concise and to the point. Do not be afraid of people – they will not “bite” you. Do not take rejections personally. Remember, the first 30 seconds will make or break your phone conversations. Be prepared to call again if necessary. Be persistent and don't give up easily.

6. Learn To Handle Prospects' Objections Effectively.

The key of effective phone prospecting is to anticipate objections from the prospects and be prepared to handle those objections quickly and effectively. 99.99% of prospects will never tell you: " Where have you been? I have been waiting for your call!" On the contrary, they will try to finish the conversation as quickly as they can. It's up to you to keep the conversation going. Prepare written rebuttals to standard objections and memorize them. Again, be honest, spontaneous, direct, and friendly.

7. Focus Your Attention On The Prospects' Needs.

Once you are talking to the prospect and he or she is responding, try to focus your attention on the prospect's possible problems and specific needs. Be prepared to figure out quickly how your products or services may help resolve the prospect's problems. Do not try to sell your product or service on the phone. All you should be selling is the time and date of the appointment with the prospect.

8. Offer The Prospect Incentives For An Appointment.

Remember, you can only do business with the prospect when you are in front of that prospect (unless it's a straight telephone or online sale). So, it is up to you to convince your prospect to give up some of his or her valuable time and to meet with you. The prospect must know that there is something potentially special there for him or her in order to agree to meet with you. You must sound convincing and always remain truthful, direct, sincere and friendly.

9. Stay On The Phone Without Interruptions.

It is important that you create a strong positive momentum while you are working on the phone. This is particularly important because it will help you to deal with a broad range of prospects' personalities more effectively. Don't allow, therefore, any interruptions. Once you have finished - have a short break.

10. Ask Prospects For Referrals.

Once you have established a positive phone connection with the prospect, you may decide to ask for referrals. This may prove to be a very important source of additional "warm" leads for the next prospecting session. Remember to select a suitable moment for asking for referrals. This is usually done at the very end of the phone conversation with the prospect.

 

ADDITIONAL INFORMATION ONLINE

Pick Up The Phone By Michael Bernoff.
Cold Calling Scripts By Jason Kanigan.
How To Quickly Build Rapport With Customers By Mo Belio.
Strategies For Effective Phone Prospecting By Neil Schwartz.
Telephone Prospecting By Tom Hopkins By HarvardBeenfitsGroup.

12. THE TEN COMMANDMENTS OF APPROACHING PROSPECTS ON THE PHONE

HOW SHOULD YOU APPROACH PROSPECTS ON THE PHONE?

All sales people, irrespective of experience, should adhere to certain guidelines when approaching prospects on the telephone. These guidelines may include the following Ten Commandments Of Approaching Prospects On The Phone outlined below. Again, sales people must be reminded not try to “hard-sell” products or services, but rather to act as Sales Consultants and help prospects to make their own “purchasing” decisions. This approach coupled with being honest, direct, sincere and friendly, has a much better chance of achieving desired results.

THE TEN COMMANDMENTS OF APPROACHING PROSPECTS ON THE PHONE

1.

You may decide to send a short letter, fax, or e-mail prior to making the actual phone call. Briefly introduce yourself and explain the purpose of your forthcoming phone call. You must specify the time and date of your call.

2.

Make the call at the time and date as specified in your previous contact.

3.

Introduce yourself and your company again and state your reason for calling.

4.

Confirm that this is a good time to talk.

5.

Get permission to ask a few questions.

6.

Start asking questions related specifically to the prospects' possible problems in a particular area. The purpose here is to find out how your products or services may solve such problems. Remember, you are a sales consultant, not a high-pressure sales person, and your role is to provide the best possible advice to address the prospect’s concerns.

7.

Listen to all answers very carefully and take detailed notes.

8.

Get permission to send additional product or service information, and try to set an appointment date and time. Never try to sell your product or service over the phone unless it's a phone-sale or online-sale item.

9.

Prepare for the meeting with the prospect.

10.

Make a confirmation call prior to the meeting or leave a message with the secretary (if this is a very busy prospect).

 

ADDITIONAL INFORMATION ONLINE

The Best Prospecting Scripts Ever! By Dona Stewart.
Prospecting For Maximum Impact By Wes Schaeffer.
Demonstration Of The 8-Step Sales Phone Call By Tony Cole.
Super Sales Manager Actual Live Sales Call By Grant Cardone.
10 Closing Secrets Guaranteed By Mike Brescia And Stan Billlue.

13. WHY SHOULD YOU THANK PROSPECTS WHEN THEY SAY "NO"?

WHY SHOULD YOU THANK PROSPECTS WHEN THEY SAY "NO"?

You may have heard this expression before: "It's all a numbers' game!" This expression applies to many areas of business management, and it is especially true in the area of Personal Selling.

Imagine that every time you sell a particular product or service you make $100.  Now, imagine that you have to approach 10 prospects, on average, to make one sale. Unfortunately, you don't know in advance who out of ten prospects will become your customer. So, you have no choice but to be diligent, and to approach each prospect in a consistent manner.

Since you can assume in advance that, on average, every tenth prospect will become your customer, and you make $100 profit on each sale, this means that, theoretically, you make $100 per 10 calls, or $10 per call. Subsequently, you must not get discouraged when nine out of ten prospects will politely decline your offer. 

Although you should do your best to convince every prospect to say "Yes", the prospect has the ultimate control over his or her decision. However, you should be grateful to every "No" because with every "No" you are getting closer to the "Yes"! Finally, since you "make" $10 for every call, irrespective whether it is "Yes" or "No", be prepared to say "Thank you" to every prospect.

Remember, it's all in your attitude! Don't forget that it's a numbers game...

 

ADDITIONAL INFORMATION ONLINE

Please watch these excellent videos professionally narrated and produced by Jordan Belfort:

Sales Myths 01: Asking For The Order By Jordan Belfort.
Sales Myths 02: It's A Numbers Game By Jordan Belfort.
Sales Myths 03: Referrals By Jordan Belfort.
Sales Myths 04: The Meaning Of "No" By Jordan Belfort.
Sales Myths 05: Every Sale Is The Same By Jordan Belfort.

© 2013 Jordan Belfort. All rights reserved.

14. IDENTIFY THE PERSONALITY TYPE  OF EACH PROSPECT

IDENTIFY THE PERSONALITY TYPE AND
INDIVIDUAL BEHAVIOR OF EACH
PROSPECT

A good understanding of each personality type will also be helpful in recognizing the most appropriate ways of dealing with prospective buyers in a particular selling situation. Some of the Personality Types are outlined in Tutorial 5. Specific guidelines which may help to deal with each specific personality type are summarized below.

Note:

Any reference to gender means "he" or "she" throughout the text.

HOW TO DEAL WITH DIFFERENT PERSONALITY TYPES IN SALES

Personality Type 
And Individual
 Buying Behavior

How To Deal
With This Personality Type
In A Selling Situation

A Friendly Buyer.
A prospect knows you, your company and your products  well from the past experience.

In this case it is relatively easy to work with such a prospect because he will be loyal to your company and your products or services. Do not take advantage of this fact. On the contrary, maximize your efforts to secure that this prospect will remain your customer for a long time to come by offering the best quality, price, and terms of payment.

A Bargain Hunter.
A prospect is looking for the  best deal and will not relax until he gets it.

This prospect does not have any loyalty to anybody but himself. Your challenge is to find a way to satisfy that prospect's needs to the fullest without jeopardizing your company's interests. Be prepared to make a deal only if it is mutually beneficial. Otherwise stay away and be prepared to leave the business "on the table". Remember, you can't satisfy everybody.

A Prudent Buyer.
A prospect follows the formality and is shopping around by meeting many sellers and getting numerous estimates.

This prospect attempts to obtain as much information about a product or service before making a decision. There is nothing wrong with that. Be patient and provide all the relevant information regarding your product or service. Be formal, polite, and keep a low-key profile. Be prepared to offer additional incentives to the prospect.

An Evasive Buyer.
A prospect does not respond to your phone calls, and it is hard to make an appointment with him.

This is the most challenging type of prospect. You must be very patient and try to get somebody else in the prospect's company "on your side" - maybe his assistant or secretary. Above all, don't give up easily because this prospect is probably equally "difficult" to your competitors too. In this case, the most patient seller may win.

A Complaining Buyer.
A prospect always complains about something, is never satisfied, and is  usually demonstrating a negative attitude.

You must decide whether the business and profit potential outweighs the negative effect of dealing with this type of prospect. If so, you must be prepared to invest an above-average level of energy to pursue a particular business relationship. Remember to be a good listener, and be prepared to spend a lot of extra valuable time.

An Organized Buyer.
A prospect prepares a detailed list of what he wants to buy. He is very nit-picking and knows exactly what he wants.

You must be "on-the-ball" at all times. Be punctual, organized, provide highly accurate information about your products or services, and be prepared to answer very detailed questions. Double-check everything and always confirm your appointments.

A Controlling Buyer.
A prospect wants to be in control at all times during the  buying process. He may demonstrate some arrogance and even rudeness.

You must be prepared to "swallow your tongue"  if your want to pursue this prospect's business. Also, be prepared to have some “hard time” with the prospect. He may be very tough on the outside, but eventually you may discover some soft spots in his personality. Don’t get frustrated, this is how he does business with everybody.

A Suspicious Buyer.
A prospect may question everything that he hears about a particular product or service.

You must demonstrate maximum patience and be prepared to provide accurate documentation and third-party references to support your verbal explanations regarding your products or services. Be prepared to "win" the prospect with your truthful and convincing information. Don't get anxious with the prospect's suspicious attitude. That's his nature.

A Domineering Buyer.
A prospect may demonstrate a strong will and domineering attitude toward everybody with whom he gets into contact.

Be prepared to compliment the prospect and reassure him in terms of his importance and ability to make decisions. Remember, if you have what the prospect needs, and you are prepared to "bend" a little more than usual, you may eventually get the business.

 

ADDITIONAL INFORMATION ONLINE

Personality Types By Karyn Buxman.
The Art Of Reading People By Judith Wentzel.
Identify Your Prospects Personality Types By PrintLabelAndMail.
Art Of Inviting By Angie Levine, Essante Organics Corporate Channel.
The 4 Personality Types According To The Kiersey Personality Sorter.

15. ANALYZE REQUIREMENTS OF EACH POTENTIAL CUSTOMER

STEP 4: ANALYZE EACH POTENTIAL CUSTOMER'S SPECIFIC REQUIREMENTS

Once the interview with a prospective buyer is arranged, the sales person must make final preparations for a Meeting. Thorough preparation is particularly important since most sales people do not get a second chance if the first meeting is a failure. Again, it is important to use the Consultative Approach when evaluating the prospects’ requirements to achieve improved sales results.

Remember that you have only two chances to make a good impression - the first chance and the last chance!

To ensure a successful meeting, the sales person must take a number of steps outlined below.

STEPS IN PREPARING FOR A MEETING WITH A PROSPECT

1.

Develop a preliminary idea about the prospect's needs.

2.

Prepare promotional literature about the product or service.

3.

Summarize possible alternatives to solve the prospect's problems.

4.

Have a pleasant appearance.

5.

Be punctual.

 

ESTABLISHING RAPPORT WITH A PROSPECT

At the outset of the meeting, the sales person must hand a business card to the prospect and introduce him- or herself. The first few minutes of the face-to-face encounter with the prospect usually play a critical role in the success or failure of the meeting, so it is essential to establish a sense of trust, or Rapport, between the sales person and the prospective buyer. This may entail a number of steps outlined below. (57)

STEPS IN ESTABLISHING RAPPORT WITH A PROSPECT

1.

Be honest and straight-forward with the prospect.

2.

Establish common ground with the prospect.

3.

Establish expectations and demonstrate dependability.

4.

Focus your attention on identifying a prospect's specific problem.

5.

Show a genuine desire to find a cost-effective solution.

6.

Demonstrate professional competence.

7.

Offer sources of proof to support your statements.

8.

Demonstrate an understanding of quality.

9.

Demonstrate technical knowledge in simple terms.

10.

Emphasize availability and ability to complete the task.

11.

Emphasize your ability to meet unique customer needs.

12.

Always be friendly and polite.

13.

Avoid talking about politics and any political issues.

14.

Never argue with the prospect!

 

UNDERSTAND THE PROSPECT'S NEEDS

Most face-to-face meetings start with a light preliminary conversation about a particular topic of the day (e.g., weather, sports, or recent events of mutual interest). Two topics that should definitely be avoided are politics and religion. Sometimes it is appropriate to hand a small gift or novelty to a new prospect on behalf of the sales person's organization. This may be a calendar, pen, or other suitable item.

Once the initial rapport with the prospect is established, the sales person must begin to Analyze The Prospect's Specific Requirements. This is usually accomplished by questioning the prospect about the company's particular problems and then evaluating each answer in detail.

The sales person must have a clear understanding that the prospect does not really want to purchase products or services but simply needs to Solve A Specific Problem, or satisfy a particular need. Hence, listening skills and ability to build trust are the most critical at this stage. Again, it is important to use the Consultative Approach when evaluating the prospects' requirements to achieve improved sales results.

 

BUILD TRUST FROM THE FIRST TIME YOU SAY "HELLO"

Did these questions ever cross your mind before making a purchasing decision:

• Can I trust this person?
• Can I trust this company?
• Can I trust this contractor?

If you weren't sure, you probably did not buy anything from these people. For this reason, you should expect exactly the same response from your prospects and should not be surprised when they don't buy from you if you didn't generate sufficient trust in their hearts.

In fact, building Trust represents the key to any successful business relationship including buying and selling products and services. Trust does not come automatically and prospects are often skeptical to whatever you may present to them including yourself. You should never forget this while developing trust with your prospects and turning them into your satisfied customers.

Always remember that building trust between you and your prospects starts with the fist "Hello".

 

ADDITIONAL INFORMATION ONLINE

Understanding Customer Needs By Nicki Weiss.
Understanding Customer Needs By Mr. J Bilton.
3 Minute Product Manager: Kano Model By Tom Birzer.
Identifying Customer Needs By Clayton Christensen, Think Big.
Understanding Customer Needs By Infoteam Sales Process Consulting.

16. MAKE A FORMAL PRESENTATION TO THE POTENTIAL CUSTOMER

STEP 5: MAKE A FORMAL PRESENTATION TO THE POTENTIAL CUSTOMER

After analyzing the customer's specific requirements, the sales person can begin a Formal Presentation. The prime objective of such a presentation is to introduce certain products or services that may provide suitable solutions or satisfy the particular needs of the customer.

The sales person must provide a detailed description of the proposed product or service, and clarify all Advantages and Benefits offered to the customer. Again, it is important to use the Consultative Approach when making a formal presentation to achieve improved sales results.

Sales people generally use three different types of formal presentations to customers as illustrated below.

THREE TYPES OF FORMAL SALES PRESENTATION

   
Oral
Sales Presentation
  Written
Sales Presentation
  Online
Sales Presentation
 
 

ORAL SALES PRESENTATION

Oral Sales Presentation encourages useful verbal exchange between the sales person and the prospect. It enables the sales person to explain all relevant details of the proposal and provides the customer with an opportunity to ask questions and receive immediate clarification. An oral sales presentation can be conducted in several ways as outlined below.

TYPES OF AN ORAL SALES PRESENTATION

• Canned Presentation.

A canned presentation is a fully-automated approach in which the sales person provides the customer with tightly-structured information prepared in advance. This may include movies, power-point presentations and filmstrips.

Structured Presentation.

A structured presentation, on the other hand, is a more flexible approach that enables the sales person to use his or her own wording while following a company-prepared presentation outline. This type of sales presentation is based on a consultative approach and is used most frequently and usually provides effective results.

• Spontaneous Presentation.

A spontaneous presentation does not impose any restrictions and enables the sales person to conduct a meeting with a prospective customer without a particular plan. Such an unplanned presentation is often ineffective and fails to produce the desired results.

 

WRITTEN SALES PRESENTATION

A Written Sales Presentation may often be a more suitable approach especially when dealing with businesses. Many business owners, commercial buyers, and some individual buyers require at least three written estimates regarding a specific product or service offer. For this reason, Written Estimates or Written Proposals must be prepared and presented by the sales people, describing the benefits and features of specific products or services and providing a firm quotation, including delivery costs, sales tax, and references, if appropriate. These proposals may be e-mailed, faxed, or mailed to prospective buyers, depending upon specific situation.

This process will enable buyers “to compare notes”, by evaluating the details of each written estimate, and checking appropriate references, if necessary. Finally, buyers will be in a better position to make their preliminary decision and the selected sellers will have a better opportunity to “close the deal”.

ONLINE SALES PRESENTATION

Online Sales Presentation may be a highly time- and cost-effective method of presenting certain products or services to potential customers online. This type of sales presentation enables the sales people to summarize all benefits and features of specific products or services, and any additional relevant information, including price, by sending a detailed e-mail to the prospective buyer. Many buyers today also prefer to do business online because it is more time-effective and it allows them to obtain required information without immediate commitment to the seller, since there is no face-to-face meeting and subsequent “pressure” to make a quick decision.

From the seller’s point of view, the online sales presentation may also offer substantial benefits in terms of saving time, travelling expenses, and enabling the sales people to generate more sales proposals at any given time period. Moreover, since the introduction of GoToMeeting and Join.me, sales people have a much better opportunity to make effective sales presentations of their products or services to prospective buyers online without leaving their office.

 

ADDITIONAL INFORMATION ONLINE

Use Images To Simplify Sales Message By Victor Antonio.
How To Improve Your Sales Presentation By Patricia Fripp.
How To Create Effective Sales Presentations By SuccessWorksInc.
Selling Your Products To Retail By Karen Waksman, ProductForProfit.
Jordan Belfort On Presenting Elegant Sales Solutions By Wolf Of Wall Street.

17. OVERCOME THE POTENTIAL CUSTOMER'S OBJECTIONS

STEP 6: OVERCOME THE POTENTIAL CUSTOMER'S OBJECTIONS

One of the critical issues that a sales person has to face during a sales presentation is the flow of Objections and Excuses by prospective customers. Again, it is important to use the Consultative Approach when handling objections and excuses from prospects and customers to achieve improved sales results.

A range of Methods For Handling Typical Objections and excuses is summarized below.

HOW TO HANDLE OBJECTIONS AND EXCUSES
 RAISED BY PROSPECTS OR CUSTOMERS

Examples
Of Objections

Methods Of Handling
Typical Objections

Simple Excuses From Prospects.

  • "I must speak to my partner".
  • "Our budget is limited this year".
  • "I am too busy during this week".
  • "I will phone you back".

Recognize the excuse, try to ignore it and continue with the sales presentation. Determine what really bothers the prospect.

Tip: Never argue with the prospect!

Source Objections Raised By Prospects.

  • "The last few deliveries from your company   were too late".
  • "Some of your products are defective".
  • "You owe us a refund".
  • "The previous sales person was rude".

Recognize the problem, get all relevant details and promise to sort it out.

Tip: Later, do not forget to act on your promises.

Need Objections Raised By The Prospect.

  • "We do not need a new machine; our   existing one performs well".
  • "I am not interested".
  • "My partner does not want it".

Prospects are often unaware of what new products or services can do. Explain product's features and benefits. Emphasize the benefits, not the features and ask for a "trial order".

Tip: "Sell" the sizzle, not the steak!

Product Objections Raised By Prospects.

  • "I don't think your equipment will solve our   problem".
  • "I don't think our customers will like your   products".

Stress additional benefits and advantages of your product or service against the one which is used by the prospect for comparison purposes.

Tip: Avoid saying bad things about your competition.

Timing Objections Raised By Prospects.

  • "I will think about your proposal".
  • "We will decide next month".
  • "Contact us next year".

Stress additional cost and performance benefits if the prospect will consider the product or service now.

Tip: Offer additional financial incentives for acting now.

Price Objections Raised By Prospects.

  • "Your product is too expensive".
  • "I want a substantial discount".
  • "I can't afford your product right now".

Compare the cost of your product or service with a similar one offered by competitors. Offer flexible terms of payment.

Tip: Stress additional benefits against the price difference.

Two Most Important Rules For Dealing With Customers.

Rule No. 1:
The Customer Is Always Right!

Rule No. 2:
When The Customer Is Wrong - 
Use Rule No. 1

 

ADDITIONAL INFORMATION ONLINE

9 Common Objections By Brian Tracy.
Overcome Objections By Michael Bernoff.
Handling The Payment Objections By Steve Richards.
Handling Objections At The Front Door By Tony Hoty.
Objection Handling Part 1 By Tommy Mygrant And Barbie Decker.

18. FEARS OF SOME PROSPECTIVE CUSTOMERS

UNDERSTAND THE FEARS OF PROSPECTIVE CUSTOMERS

In order to enhance the performance during the personal selling activities it is important to remember that some prospective customers have Real Fears related to the entire selling process. These fears may be expressed in different forms and should be handled appropriately. Some of these fears and related guidelines are summarized below. (58)

FEARS OF SOME PROSPECTIVE CUSTOMERS

• Fear Of Pushy Sales People.

Some prospects have a genuine fear of sales people and often feel that sales people may "force" them to do something against their will. It is important, therefore, to create a relaxed atmosphere and to assure the prospect that you are here to help and to solve his particular problem.

Fear Of Getting Into Debt.

Some prospects simply don't like the idea of parting with their money. You should identify this type of fear and provide a positive reinforcement to the prospect by assuring him that he is getting the best deal in terms of price and payment terms. After all "there is nothing for nothing" and procrastination is generally not a good solution for customers.

• Fear Of Getting The Wrong Information.

Some prospects have had bad experience with sales people before. This may lead the prospects to suspect everything that you may be saying, even if it is 100 percent true. You should be prepared to support your assertions regarding your products or services with documents and good references from other customers. Remember not to take prospects' suspicions personally.

• Fear Of Making A New Mistake.

Some prospects have made a bad choice, or exercised a poor judgment regarding a purchasing decision in the past. Now they may be afraid to repeat the same mistake. You should be prepared for this and help the prospect to feel as secure as possible in relation to a pending purchasing decision.

• Fear Of The Uncertainty.

Some prospects are simply afraid of the unknown outcome regarding the purchase of a specific product or service. You should be prepared to explain to the prospect a broad range of details related to the use of your product or service and support your assertions with solid references.

• Fear Of Past Mistakes.

Some prospects remember the expression: "once bitten, twice shy", after making several mistakes in the past. You should be prepared to help the prospect to overcome his fear by convincing him that he makes the right decision by purchasing your product or service based on need. Be prepared to make your offer on a trial basis, or let the prospect talk to other customers.

• Fear Generated By Third Parties.

Some prospects are influenced by the opinion and reservations expressed by third parties. In case of a third party interference you should be prepared to double your selling efforts and first convince the third party about the usefulness of your product or service. Make the third party your "ally" and let it positively influence the prospect.

 

ADDITIONAL INFORMATION ONLINE

Isolating Customers Concerns By Gary Tilkin.
Customer Fears And Concerns By Ian Johnson.
Employee Ignores Customer's Concerns By TheWWYDShow.
Customer Challenges, Concerns, And Solutions By Alan Walsh, EMC.
Addressing Customers' Concerns By V. Raja, GE Health Care, Murali D.

19. CONVERT THE POTENTIAL CUSTOMER INTO A REAL CUSTOMER

STEP 7: CONVERT THE POTENTIAL CUSTOMER INTO A REAL CUSTOMER

Generally, the best way to close any sale is to break the closing process into a series of “mini-closes” by asking appropriate Confirmation Questions. In fact, many experts suggest that the closing process begins with the first “Hello” between the sales person and the prospect. The confirmation questions should be asked as often as possible during the entire sales presentation to establish a common ground between the prospect and the sales person. Again, each sales person should remember to act as a sales consultant during the meeting with a prospective customer.

Once the sales presentation is completed, various objections raised by a prospect are cleared, and questions are answered, the sales person should begin the final stage of Closing The Sale. Several simple questions may be asked during the Trial Close. Such questions provide direction to prospects in confirming their choice as illustrated below.

SIMPLE CONFIRMATION QUESTIONS

1.

Do you prefer to pay cash or do you need terms?

2.

Do you want to purchase 10 or 20 items?

3.

Do you prefer the yellow or the brown?

4.

Would you like to start the job this week, or next week is better?

 

ADDITIONAL INFORMATION ONLINE

Follow Up = More Sales With Mike Lyon.
How To Follow Up With A Lead By Andrea Sittig-Rolf.
Follow Up, Prospect And Retail Customers By Joe Verde.
Follow Up Is The Secret To All Selling By Charlie d'Estries.
Follow Up Without Being Annoying By Keith Rosen, AllBusinessDotcom.

20.POPULAR CLOSING TECHNIQUES

CLOSING TECHNIQUES

At the end of every sale somebody will sell something and somebody will buy something. The only question is who will be the ultimate seller?

The final result of every sales process is the "closing of a sale". However, sales people don't have exclusive rights to make a sale. Sometimes it is the buyer who "makes a sale" by "selling" to the sales person the reasons why he or she did not buy... and the sales person "buys that"...

There are several Closing Techniques frequently used by sales people. Some of the most popular closing techniques are outlined below.

Note:

Examples below use term "he" for a sales person and term "she" for a prospect, but in reality both terms are equally applicable to all parties in the selling process.

SOME OF THE MOST POPULAR CLOSING TECHNIQUES

Ask-The-Manager Close + Video.

A sales person informs the prospect that he can offer a certain discount on the product or service price and only a senior manager can authorize additional discount. At this stage the sales person suggests to the prospect that he will be happy to "fight" for her with the manager to obtain additional discount if the prospect will be ready to sign the deal "today".

Example: "Mrs. Prospect, if I can get my manager to approve an additional $500 discount for this product (or service), will this work for you today?" You must know in advance what amount your manager will be able to approve. If the prospect says "Yes", confirm with your manager, return and say: "Congratulations, Mrs. Prospect! I am so glad that I was able to help you to save additional $500 today!", shake her hand, finalize the finance option, and close the sale.

The Affordable Close.

A sales person presents a product or a service to the prospect and quotes a specific price. The prospect states that she can't afford to accept this offer because the price is too high. Subsequently, the sales person asks the prospect what price range is affordable to her today, downsizes the offer, and closes the sale "today".

Example: "Mrs. Prospect, what is your current budget range?" or "How much can you afford to spend today"? Upon receiving the prospects answer, downsize the original offer, reduce the price accordingly, and close the sale.

The Alternate Choice Close+ Video.

A sales person presents a product or a service to the prospect and during the presentation offers several choices, such as sizes, types, or colors. The sales person continuously asks "confirmation questions" designed to ascertain that he and the prospect are "on the same page", and subsequently leads the prospect in narrowing down her choice for the final selection. The key to this close is to offer "either-or" choices where each choice will lead the prospect to a purchasing decision "today".

Example: "Mrs. Prospect, do you prefer product size 10 or product size 12?" or: "Do you prefer three-month service or one year service?" Once your prospect makes her final choice, say: "Mrs. Prospect, you made an excellent choice today! Will this be cash or credit purchase?" and close the sale.

The Apology Close+ Video.

A sales person completes a sales presentation, quotes a price to the prospect, but the prospect is not ready to make a purchase decision "today". At this stage the sales person apologizes to the prospect for not providing sufficient information thereby causing doubt in the prospect's mind. The sales person then asks the prospect to clarify what actually concerns her and after addressing that issue, goes for the close "today".

Example: "Mrs. Prospect, I really owe you an apology! I think we both agreed a few minutes ago that you need this product (or service), but I probably forgot to mention something that is still causing doubt in your mind. Please tell me, what exactly are you concerned about?" Upon identifying the real reason, address the prospect's concern and close the sale.

The Assumption Close + Video.

A sales person presents a product or a service in a manner where he "assumes" that the prospect is going to purchase it "today" no matter what. At the end of the presentation the sales person completes the purchase order or a contract and hands it over to the prospect for signature to close the sale "today".

Example: Upon completing your sales presentation, take out your pen and start completing the purchase order form in front of the prospect. If the prospect doesn't stop you, complete the purchase order form, push it gently toward the prospect, look into her eyes with a friendly smile, hand her your pen, and don't say a word. Once the prospect takes the pen - she will most likely sign the purchase order "today". This can be a very powerful closing technique.

The Backwards Closing Method.

A sales person conducts the sales presentation in reverse order and begins by asking the prospect for a referral. In this scenario, the prospect will be at ease, because she is not under pressure of making a personal purchasing decision "today". During the presentation the prospect may realize that a particular product or service may be beneficial for her too and subsequently she will be less resistant to making a purchase at the end of the presentation.

Example: "Mrs. Prospect - can you think of any family member or a friend who may benefit from having this product (or service)?" Subsequently outline the benefits of a particular product (or service), explain how other customers benefited from it, and finally ask: "Mrs. Prospect, do you think that you can also benefit from having this product (or service) today?" Once the prospect responds positively, go for the close.

The Ben Franklin Close + Video

A sales person completes a sales presentation, takes out a blank sheet of paper, and draws a vertical line in the middle of the page. Then he states specific benefits of a product or service, one-by-one, and asks the prospect to tell him whether she thinks this is an advantage or a disadvantage. Upon the prospect's response, the sales person enters each advantage, approved by the prospect, into the right column and any disadvantage into the left column. Finally, the sales person asks the prospect to choose between the right and left side of the page and leads her to accept the deal "today".

Example: "OK, Mrs. Prospect, let's enter each advantage of this product (or service) into the right column." Upon completion, ask: "Mrs. Prospect - do you see any disadvantages of having this product (or service)?" and enter each one into the left column. Since prospects usually have difficulty to quickly identify any specific disadvantages, the outcome will be an "advantage-heavy" page. Now ask: "Well, Mrs. Prospect, in which column would you like to be?" After getting the prospect to "select" the right column, extend your hand, shake the prospect's hand and say: "I am so glad that we agree on this today!". Begin completing the purchase order based on the Assumption Close above and close the sale.

The Best Time Close.

A sales person completes a sales presentation and firmly suggests to the prospect that "today" is the best time to purchase this product or service because of various reasons such as: possibility of getting additional price reduction, or pending price increases from suppliers, end-of the month/year close-out sales discount, end of the tax-free period, end of a special season benefit, or end of the Federal tax credit.

Example: "Mrs. Prospect, if we combine your purchase order with five other purchase orders which we received during this week, we will get an additional volume discount from our suppliers and we will be delighted to pass your part of the discount to you. Would it help you to save an additional $1,000 dollars today?" and upon receiving a positive response, close the sale.

The Bonus Close + Video.

A sales person completes a sales presentation and quotes a price to the prospect. When the prospect indicates that she is still not ready to make a purchasing decision, the sales person offers the prospect a "special free bonus" which is designed to influence the prospect to accept the deal "today". This bonus may be in a form of enhanced product or service feature, extended warranty, or something else which the prospect may view as an additional valuable benefit. Some prospects are willing to do a deal if they can get something valuable for free "today".

Example: "Mrs. Prospect, if I can get you an extended warranty on this product (or service) for the next five years absolutely free of charge, will this help you today?" and upon receiving a positive response, close the sale.

The Bracket Close.

A sales person completes a sales presentation and provides the prospect with three types of product or service solutions and three price options. The first price option is based on a higher-end product or service, the second price option is based on a lower-end product or service and the third price option is in the middle. The purpose of this presentation is to motivate the customer to focus on the middle price option and to demonstrate all advantages and benefits that this option has to offer in order to close the deal "today".

Example: "Mrs. Prospect, after learning about all three options - which one do you feel will best meet your needs and your budget?, and upon receiving a positive response to one of the three options, close the sale.

The Break-Even Period Close.

A sales person may ask the prospect about the desirable break-even period for the product or service, i.e. when the product or service will actually pay for itself. Once this period is agreed upon in advance, the sales person should calculate the actual break-even period for the product or service and if it meets the prospect's criteria, this should lead to a closed deal. This type of close is effective when a particular product or service replaces another known expense by the prospect.

Example: "Mrs. Prospect, you mentioned, that if this solar system will pay for itself within about 10 years, you will be ready to go ahead with this project today, right?" - "Yes." - "Well, Mrs. Prospect, your average electrical bill is $150 per month and the cost of electricity increases on average about 7% per year. Subsequently, your cumulative electrical cost over the next 10 year period will be almost $25,000. If you choose to purchase a 6 kwhr DC solar system today at cost of $30,000, it will wipe out your electrical bill, you will receive a 30% Federal Tax Credit, and your break-even period will be about 10 years, as you wanted. Since you will get a 25 year production warranty, this means that your electricity will be free of charge for the following 15 years. Does this make sense to you today?" and close the sale.

The Colombo Close + Video.

A sales person completes a sales presentation, quotes a price to the prospect, but the prospect is not ready to make a purchase decision 'today". The sales person politely thanks the prospect for the opportunity to make a presentation and begins to "pack his bag". This will dramatically reduce the pressure on the prospect who will be relieved to see that the sales person is on his way out. A few minutes later, when the prospect is off guard, the sales person returns and apologizes for forgetting to mention something very important about the product or service. He engages the prospect in a conversation and tries to close her "today".

Example: "I am so sorry, Mrs. Prospect, I completely forgot to mention to you about our special advertising program which could possibly save you up to $1,000 today. I am not sure if this program is available in your ZIP code area, but if it is, would this substantial saving today help you in any way? Upon receiving a positive response apply the Ask-The Manager Close above and close the sale.

The Compliment Close.

A sales person constantly compliments the prospect on her level of intelligence, wisdom, experience, and ability to make prudent purchasing decisions and choices in the past, such as her house, car and other items. The sales person tries to impress upon the prospect that she has been very capable of making prudent purchasing decisions in the past and for this reason she should trust her judgment in making another prudent decision "today" and accept the offer made by the sales person.

Example: "Mrs. Prospect, I really commend you for making so many smart decisions in the past. I am sure you feel very comfortable today regarding the benefits of having this product (or service), if it's affordable, I am correct?" After affirmative response, apply the Affordable Close above and close the sale.

The Concession Close

A sales person completes a sales presentation to the prospect and quotes a price, but the prospect is not ready to make a purchase decision 'today". Subsequently, the sales person identifies specific benefits which may be desired by the prospect and offer some of these benefits for free in exchange for the prospect's commitment to make a deal "today".

Example: "Mrs. Prospect, you mentioned earlier that you would like to have the De-Lux Model for the price our Standard Model. Since this is the end of the month, I just might be able to assist you, if you are willing to go ahead with this order today. Would you like that? Upon receiving a positive response apply the Ask-The Manager Close above and close the sale.

The Conditional Close + Video.

A sales person suggests to the prospect that if she will be willing to do certain "favors" for his company, the sales person might be able to offer the prospect additional free benefit or substantial price reduction "today". Upon receiving a positive response the sales person goes for the close or uses the Ask-The Manager Close above.

Example: "Let me ask you Mrs. Prospect, are you willing to do certain things which could help our company in exchange for a substantial saving today? If the prospect asks: "What are we talking about?" this is a good sign that she is willing to negotiate. You answer: "It will be tremendously helpful to our company if you will be willing to participate in our promotional video, place a five-star review on Yelp, place a sign in front of your house for at least six months, and provide us with five referrals. If you are willing to do this for our company, I would like to call my manager and ask if we can get you a special $1,000 discount. Will this work for you today?" Upon receiving a positive response apply the Ask-The Manager Close above and close the sale.

• The Confirmation Close.

A sales person poses a number of questions throughout the sales presentation that will lead the prospect to agree and provide a series of "yes" answer. Subsequently these answers could be used as a confirmation of prospect's purchase order. The logic behind this close is as follows: if the prospect will continuously respond with a "yes" to each preliminary question, than there is a very strong possibility that the prospect will say "yes" to the final closing question to make a deal "today".

Example: "Mrs. Prospect, I am really so glad that you can see all the benefits that you will receive from using our product (or service). Now, let me ask you, what would prevent you from having this product (or service) today?" If the prospect doesn't raise any real objection, ask: "Would this be a cash deal or you will need financing?" and close the sale.

The Cost Of Ownership Close.

A sales person provides the prospect with a detailed summary of all costs related to a specific product or service in comparison with competing offers. This method may prove to be effective when the initial price of competing products or services may be lower, but the subsequent finance, delivery, maintenance, and replacement costs may be substantially higher. Once the prospect understands the overall long-term cost implications of each option, she will be more willing to make a deal "today".

Example: "I am sure you can see, Mrs. Prospect, that if you add all related costs, based on apple-to-apple comparison, our product (or service) works out about 20% less expensive, and you will save about $2,000 every year. Isn't that what you really want?" Upon receiving a positive response say: "I know that you will be very happy! Is this going to be a cash deal or you will need financing?" and close the sale.

The Cradle To Grave Close.

A sales person provides the prospect with a detailed summary of all costs related to a specific product or service, but the prospect still feels that she is not ready to make a purchasing decision "today". The sales person respectfully suggests that judging by the prospect's past behavior, she will probably never make a decision to purchase this product or service. For this reason, there is no point to procrastinate and instead it is a good idea to find a way to move forward "today".

Example: "I fully understand Mrs. Prospect that you don't feel you need this insurance policy right now. However, as you know, nobody wakes up in the morning and says: "Today I am going to buy disability insurance. We both know that everybody needs this insurance for income protection. At this rate, you will probably never get it, and if something will happen in the future, you may regret for not having purchased this insurance in the past. So, let's see what we can do together to help you get this protection today, OK?" and go for the close.

The Daily Cost Close.

A sales person provides the prospect with a detailed summary of all costs related to a specific product or service, but the prospect still feels that it's too expensive. The sales person presents the prospect with the same cost, based on an annual, monthly, weekly, or hourly period and this "reduced" price can make a big difference in the prospect's mind and subsequently help to close the deal "today".

Example: "Mrs. Prospect, I fully agree with you that $3,650 per year sounds like a lot of money. But, would you agree with me that $10 per day is actually a very low price to pay for the benefits of having this product (or service) on a continuous basis?" After getting a positive response, ask: "Mrs. Prospect, can you afford not having this product (or service) for only $10 per day?" and go for the close.

The Demonstration Close.

There is an expression that "one picture is worth a thousand words". Subsequently, one demonstration may be worth a thousand pictures. A sales person may take advantage of the "wow" effect which may be produced by demonstrating a particular product or service to a prospect. This may subsequently lead the prospects to accept a deal "today".

Example: "Mrs. Prospect, let me clean the carpet in your living room, and then you can tell me why you don't deserve to have this fantastic vacuum cleaner today, OK?" After getting the affirmative response, complete your demonstration and go for the close.

The Direct Close + Video.

A sales person approaches the prospect in a direct and mild manner and asks if the prospect is ready to move forward with the purchase order "today". Although this type of close is not highly popular, the key is to never prejudge prospects and always be prepared for a close "today". Sometimes sales people are pleasantly surprised when they receive a positive answer from the prospect.

Example: "Well Mrs. Prospect, we discussed the benefits of having this product (or service) and I am glad that you like it. So let me ask you if there is anything that would prevent you of having this wonderful product (or service) today? If the prospect can't find a good reason, continue and say: "This really makes sense to me. What do you think?" Wait for the prospect's answer and close the deal "today".

The Doubt Close.

After a presentation, the sales person expresses mild doubt by suggesting to the prospect that a particular product or service may not be completely suitable to meet her needs or that the prospect may not be ready for it. The purpose of this suggestion is to prompt the prospect to challenge it and, in essence, to "sell" herself on why she really needs this product or service. All that the sales person needs to do is to convince the prospect to act on her conclusion and close the sale.

Example: "Mrs. Prospect, I am not completely sure whether this product (or service) is what you really want." If the prospect objects to your assertion, allow her to convince herself that you are wrong and that she actually needs this product (or service). In the end say: "I am really glad Mrs. Prospect that you came to this conclusion today. Now I realize that you will be very happy with this product (or service)! Is this going to be a cash deal, or you will need financing?" and close the sale.

The Economic Close.

A sales person provides the prospect with a detailed summary of all costs related to a specific product or service, but the prospect still feels that it's too expensive. The sales person may suggest to the prospect to increase the quantity of the purchase order and take advantage of the volume discount, to reduce the unit cost, or to finance the purchase order based on low annual interest. Sometimes prospects may qualify for a home equity loan with lower APR (annual percentage rate) than high-interest consumer loans.

Example: "Mrs. Prospect, the solar system, designed to cover your $300 monthly electrical bill, will pay for itself during the next ten years and then your electricity will be free of charge for many years in the future. In the meantime, I will qualify you for a low interest consumer loan for the next twenty years and this loan enable you to get the immediate savings on your electrical bill and receive a 30% Federal Tax Credit on the net cost of your solar system. Does this make sense to you? After getting the affirmative response, go for the close.

The Embarrassment Close + Video.

A sales person provides the prospect with a detailed summary of all costs related to a specific product or service, but the prospect feels that it's too expensive and she is looking for the cheapest option. The sales person respectfully suggests to the prospect that choosing the cheapest option may eventually back-fire and be too embarrassing. "Mrs. Prospect! You really get what you pay for!". The sales person appeals to the prospect's self-esteem and tries to close the sale based on a better quality product or service.

Example: "How would you feel Mrs. Prospect, if your neighbors and friends have it and you don't?" Depending on the prospect's ego and self-image, this may be a very powerful method in triggering the prospect to "close" herself and make a purchase "today".

• The Emotion Close.

A sales person approaches the prospect in a direct and mild manner using emotional approach every step of the way. Emotions play a paramount role if almost every B2C (business-to-consumer) sales situation, because the majority of prospects buy "emotionally" except for engineers, accountants, lawyers, scientists and other types of professionals, who may inject various degrees of "logic" into their purchasing decisions. For this reason, it is critical to identify whether the prospect is ruled by emotions or by logic, or both, and apply common sense closing methods accordingly to close the deal "today".

Example: "How would you feel, Mrs. Prospect by having this product in your house?" Once the prospect responds emotionally toward a specific product (or service), she is a good candidate for this type of close.

• The Empathy Close + Video.

A sales person approaches the prospect in a direct and mild manner using emotional approach and demonstrating empathy at every opportunity. This approach may motivate certain types of prospects to reciprocate and show empathy in return, thereby helping the sales person to develop a strong bond and harmonious relationship with the prospect. Subsequently, this close relationship may lead to a sale "today", a potential long-term customer-supplier relationship, good referrals, and repeat orders.

Example: "Mrs. Prospect, I truly understand what your needs are and how you feel about this particular situation. I feel that if I would be in your shoes, I would feel exactly the same." Continue to show empathy to the prospect and gently lead her toward making a buying decision without any pressure whatsoever.

• The Exclusivity Close.

A sales person approaches the prospect in a direct and assertive manner suggesting to the prospect that a particular product or service offer is not available to everybody, or that the buyer has to meet certain criteria, such as belonging to a special "exclusive" organization, or that this price or special discount are available on exclusive basis. This approach cultivates a "forbidden fruit" syndrome and implicitly motivates prospects to make a deal "today".

Example: "Mrs. Prospect, as I have mentioned, this service is available exclusively to the ABC Club members at a special 20% discount. Will it help you if I will give you a free membership coupon today? and if the prospect says "Yes", close the sale today!

• The Extra Information Close.

A sales person provides the prospect with a detailed summary of various benefits and costs related to a specific product or service, but the prospect is still not ready to make a decision. Then the sales person states that he forgot to mention another important fact which can make a big difference in the product or service performance or price, or both. Sometimes this additional information may be critical in the prospects' mind and help to close the deal "today".

Example: "Mrs. Prospect, I forgot to mention, that we have a special product promotion for new customers and if you decide to purchase our product today, I am authorized to offer you an additional $500 promotional discount - will this help you today?" and if the prospect says "Yes", close the sale.

• The Fire Sale Close.

A sales person approaches the prospect in a direct and mild manner suggesting to the prospect that she must make a purchasing decision "today". The sales person explains that this is a unique opportunity to purchase products at substantially reduced prices due to a special event, such as inventory liquidation, company bankruptcy, fire, flood, or earthquake. Many prospects are bargain-hunters and this may be their motivation to close the deal "today".

Example: "Mrs. Prospect, the price for this product is reduced by 60% because we have to liquidate our last year inventory to make space for a new product arrival in our warehouse. The product model which I offer you today at this substantial discount is as good as the new model, but because it is one year old, some customers prefer the latest model and don't mind to pay the full price. Does it make sense to you to save 60 percent today?" If the prospect says "Yes", close the sale.

• The Golden Bridge Close.

A sales person provides the prospect with a description of various product or service options and related prices. The sales person selects one option which he believes is most suitable for the prospect and then he explains to the prospect how all other options are not really suitable or desirable. This will lead the prospect to select the remaining option which the sales person intentionally left without any criticism and subsequently close the deal "today".

Example: "Mrs. Prospect, I showed you three different models of this product, but let me be very frank - I personally don't think that the first option will meet all your needs, and the third option, between you and me, is priced too high! So, please tell me, which option do you really prefer?" The prospect will probably select the second option and subsequently close the deal "today".

• The Handshake Close.

This is one of the simplest and effective methods of closing a sale. Upon completion of the presentation, the sales person quotes the price, looks straight into the prospect's eyes and extends his hand with a question: "Do we have a deal?" If the prospect is prepared to shake the sales person's hand - the sale is closed.

Example: Example: "Mrs. Prospect, I am very glad to hear that you really like this product and you feel that the price is within your budget." Extend you hand to the prospect and say with a smile: "So, Mrs. Prospect, do we have a deal?" If the prospect shakes your hand - you have a deal "today".

• The Hard Close.

A sales person approaches the prospect in a direct and assertive manner suggesting to the prospect that she should make a purchasing decision "today" because this is the best deal and it is in the prospect's best interests. This type of approach is called a hard-sell approach and the majority of customers usually resent it. However, sometimes this type of close works, although it also carries a high risk of purchase order cancellation by the customer.

Example: "Mrs. Prospect, I was glad to provide you with all the answers you wanted regarding this product. I really believe that you should move ahead with this purchase today, because prices are going up next month and we have very limited inventory at the current prices." Address any additional concerns that the prospect may have and close the sale "today".

• The Humor Close.

A sales person approaches the prospect in a direct and casual manner describing products or services and using every opportunity to insert a joke or create a sense of fun throughout the entire sales presentation. Some prospects may appreciate this and feel more relaxed and at ease even when they discuss the price and discounts with the sales person. This type of close may work very well for certain types of prospects who are open-minded and willing to reciprocate by accepting the sales person's offer "today".

Example: "Mrs. Prospect, I am really glad that you like everything about this red Lexus EX sports car except the fact that it is not a Ferrari. I would have been happy to offer you a Ferrari for the price of this Lexus, but unfortunately we had such a rush on red Ferraris last week that we ran out of stock. So, let's go ahead today with the Lexus, OK?" smile politely, extend your hand for a handshake and close the sale "today".

• The High IQ Close.

A sales person approaches the prospect in a direct and casual manner describing products or services and using every opportunity to imply that many highly educated and sophisticated people make this purchase. This approach creates a strong sense of reassurance in the mind of the prospect that they should "join" the "high class" of buyers.

Example: "Mrs. Prospect, most of my customers who purchased this super-fast computer, were either engineers or scientists. I can assure you that you will not be the first engineer nor the last to buy this computer for your office. How would you prefer to handle this purchase - cash or zero financing for one year?" After getting the prospects answer close the deal "today".

• The Indirect Close.

A sales person poses a number of questions at specific points during the sales presentation which may lead the prospect to agree and say "yes". This may subsequently make it easier for the sales person to lead the prospect to say "yes" to the actual purchase order.

Example: " Mrs. Prospect, I am glad that you like this maple kitchen cabinets design and how it will fit into your kitchen space. You also mentioned that you like the door style and color and all additional cabinet fixtures. Please tell me when you would like to get these cabinets installed, because I will need some time to put it all together." Get the prospect's reply and close the deal "today".

• The Last Chance Close.

A sales person may suggest to the prospect that there are other interested parties and if the purchase order is not placed "today", the item may be sold to other customers.

Example: "Mrs. Prospect, I know that you like this Lamborghini GTX and you are OK with the price, but I am afraid that if you don't move forward with this deal today, I have two other customers who want to buy this car and they are coming tomorrow. We were also notified that prices on this model are going up next month by 10% and I feel that today is probably your last chance to own this car at this price!" Get the prospect to agree and close "today".

The Minor Points Close.

A sales person asks the prospect simple questions to identify the prospect's preferences about minor details related to a product or a service, assuming the prospect is going to buy it.

Example: "Mrs. Prospect, do you want your dining room set to be made out of pine or oak?" After getting the prospect's answer to a series of minor point questions, close the sale "today".

The Never-Best-Time Close.

Many customers suffer from "procrastinitis", i.e. they procrastinate when it comes to make some purchasing decisions. In this case, the sales person politely suggests to the prospect that some people often wait for something to happen before they decide to buy a particular product or service. Sales person further suggest that it would be wise for the prospect to purchase a particular product or service before something happens, and this could possibly make a huge difference in the outcome of a particular situation.

Example: "Mrs. Prospect, you mentioned to me that you are concerned about a potential burglary in your house because your neighbor had a burglary last week and they didn't have security system. You also told me that your neighbor quickly acted and bought a security system after that burglary. I am sure, you agree, Mrs. Prospect, that the best time to purchase a security system is before a burglary happens, not after, right? ...Of course.. Well, Mrs. Prospect, since we have no idea when and where the next burglary will happen, there is never the best time to buy a security system except for now, wouldn't you agree?" and close the sale "today".

The No-Hassle Close.

A sales person makes a sales presentation to the prospect and suggests that the company will take care of all the paperwork, delivery, and installation of the product at the prospect's house.

Example: "Mrs. Prospect, as I have mentioned, we will take care of all paperwork, delivery, and installation of this washing machine at your house. You will just need to sign on the authorization line below." At this stage take a pen and start filling the purchase order with this question: "So, how do you spell your last name?" and close the deal "today".

The Opportunity Cost Close.

A sales person makes a sales presentation and explains to the prospect that although there is certain price to pay for purchasing a particular product or service, there is also a substantial price to pay in case the prospect will not purchase that product or service.

Example: "Mrs. Prospect, as I have mentioned, the price of this wireless security alert pendant for your mother is only $200 plus $15 monthly monitoring fee. I hope you agree that this price is relatively small in comparison with the price of peace of mind to know that you mother will be as safe as possible" and close the sale "today".

The Ownership Close.

A sales person talks to the prospect about a specific product or service as if the prospect already owns it. The sales person increasingly places the "ownership" of the product or service on the prospect's shoulders.

Example: "Mrs. Prospect, I am really glad that you like your new house. Would you like to do any additional remodeling in your new house? Would you like to keep your new kitchen as is or would your like to install new granite countertop?" Get the prospect's answer, and close the sale "today".

The Price Bracket Close + Video.

A sales person presents the prospect with three types of product or service solutions and three price options. The first price is based on a lower-end product or service option, the second price is based on a middle-range product or service option, and the third price is based on the high-end product or service option. The purpose of this presentation is to help the prospect to eliminate the low-end and the high-end options and to accept the "safe" middle-range option by demonstrating its advantages and benefits.

Example: "Mrs. Prospect, do you feel that the mid-range product (or service) option makes most sense for you today?" Upon getting the affirmative response, say: "Well Mrs. Prospect, I couldn't agree more with your decision today. I know that you will be very happy! Is this going to be a cash deal or you will need financing?" and close the sale.

The Price-Promise Close

A sales person tells the prospect that if she will find the same product (or service) somewhere else at a lower price, she will be able to either return the product and receive full refund, or keep the product (or service) and receive the price difference and possibly a small additional "compensation for the trouble."

Example: "Mrs. Prospect, if you will find this bicycle in any other store (except online) at a lower price, we will gladly refund you the price difference plus 5%. So, what do you have to lose?" Get the prospect's answer and close the deal "today".

The Puppy Close + Video.

A sales person suggests to the prospect to "try out" the product in an attempt to develop an emotional attachment by the prospect toward the product. For example, to allow the prospect to take a puppy dog or kitten home (the original source of this closing method), or to take a particular product home for "test-driving" purposes (a car, a special bed, or a massage recliner).

Example: "Mrs. Prospect, I will be delighted to let your son take this cute puppy home for a few days and see how they will like each other's company. After a few days you will decide what you would like to do - this will be perfectly fine with me." Get the prospect's reply and close the deal "today". In most cases the prospect's child will insist of keeping the puppy.

The Quality Close. + Video

A sales person emphasizes the value of high product or service quality versus low price and explains that everybody really "gets what they pay for". The sales person suggest that it is in the prospect's best long-term interests to be prepared to spend a little more money today and to receive higher quality of a product or service which will last a long time.

Example: "Mrs. Prospect, let me be very frank with you: the taste of saving $1,000 on this car will last for about one month, but the taste of getting high quality will last for many years. So, which taste do you prefer?' get the prospect's reply and close the sale "today".

The Rational Close.

A sales person uses logic and rational approach during the product or service presentation process. The sales person demonstrates to the prospect actual evidence regarding the functionality of the product or effectiveness of a service.

Example: "Mrs. Prospect, these solar panels come with a 25 years manufacturer's warranty and iron-clad production guarantee. This means that the system will generate nominal amount of electricity as specified by the manufacturer. Do you feel comfortable of having such a system at your house?" Get the prospect's reply and close "today".

The Requirements Close.

A sales person asks the prospect to summarize exactly what she expects from a particular product or service and then writes down each requirement in a notepad. Subsequently, the sales person uses this information as a check list and demonstrates to the prospect how a particular product or services meets each requirement.

Example: "Mrs. Prospect, you mentioned that your car must have a six cylinder engine, able to reach speed of 60 miles per hour in ten seconds and have 40 miles per gallon gas consumption. Well, this particular model meets all your requirements with flying colors and I will be delighted to offer an additional 2% discount to make you feel completely satisfied. Is that OK with you?" Get the prospect's response and close "today".

The Selective Deafness Close.

A sales person ignores any negative comments made by the prospect related to a product or a service. Instead, the sales person continues to present all positive features and benefits to the prospect, hoping that all negative comments will be "forgotten".

Example: Prospect suggest to the sales person the following: "I do like this house, but I feel that the kitchen and one of the bathrooms are too small." The sales person responds: "Mrs. Prospect, I am really glad to hear that you like this house, it has such spacious living room and four lovely bedrooms. I am sure that you will be very happy here." The sales person continues to ignore the negative feedback from the prospect and instead focuses on the positive features of this house, trying to convince the prospect to close the sale.

The Shopping List Close.

A sales person asks the prospect to list all desirable features and benefits, related to a specific product or service, writes them down one-by-one and creates a "shopping list". Subsequently the sales person describes his product and service to the prospect and marks off each item on that list, thereby demonstrating to the prospect that this offer meets all prospects' requirements.

Example: "Mrs. Prospect, we wrote down that this dining room set must be made out of oak, sit at least twelve people, have a dining table extension, twelve chairs and leather upholstery. Since I wrote down all these details, let's go through the list to ensure that we can meet each of your requirements." Upon completion, the sales person says: "Well, Mrs. Prospect, I am glad that we managed to check off each item on your "shopping list" and all that remains now is to decide whether you want to apply for low monthly payments or get an additional 2% cash discount, if it's paid in full today. Which would you prefer?" Wait for the prospect's answer and close the deal "today".

The Similarity Close.

A sales person tells the prospect during the sales presentation, that there were other customers who had similar requirements and after purchasing this product or service, they expressed their strong satisfaction.

Example: "Mrs. Prospect, one of my customers from last week, Mr. Jones, had exactly the same requirements as you have today. After purchasing this computer, he called me up and thanked me for advising him to buy this model. I know that you will also be very happy with this system. Do you want to put ii on your credit card or you want to use the store financing?" After getting the prospects' answer, close the deal "today"

The Special Concession Close.

A sales person offers the prospect a special concession with a purchase order. This, for example, may include an additional bonus item, extended credit, free maintenance, or free delivery.

Example: "Mrs. Prospect, I am really glad that you like this car. If I can offer you special chrome-plated wheels valued at $1,200 instead of regular wheels, free of charge, will this help you to make a decision today?" After getting the prospects' answer, close the deal "today".

The Summary Close + Video .

A sales person summarizes all benefits accepted by the prospect during the sales presentation and asks for a purchase order.

Example: "Mrs. Prospect, let's summarize what is included in this price: brand new kitchen cabinets with granite countertops, new kitchen appliances, new roof, and almost new solar system with a 20 years manufacturers' warranty. At this price, you are saving at least $70,000. Do you think your mortgage broker can handle this deal, or you want me to find you a good lender?" After getting the prospects' answer, close the deal "today".

The Take-Away Close + Video.

A sales person suggests to the prospect that if they don't move forward with the deal "today", the prospect may not be able to receive the same offer later and subsequently risk losing something of value, such as special discount, product or service warranty, or special delivery. The sales person may suggest that a particular product or service is not readily available and there are many people who would love to buy it, if possible. This sense of product scarcity may prompt the prospect to make a deal "today".

Example: "Mrs. Prospect, I understand that you like this product and you need to think about purchasing it today. Please take as much time as you need and call me back when you are ready to move forward. However, I must mention, that there are several customers who are coming this week to buy this product. Since our next shipment is due in two months, I am not sure if it will be available at the same price when you will call me back." After getting the prospects' answer, close the deal "today"

The Testimonial Close.

A sales person shows the prospect a list of recent customers and describes specific details of work provided to these customers. The sales person also offers the prospect to speak to a particular customer by phone and ask any job-related questions.

Example: "Mrs. Prospect, I would like to show you a partial list of our customers for the last few months and explain to you what we did for them. I would also like to call a few of our customers and invite you to speak to them directly. Please feel free to ask them any questions you wish and I am sure that you will be quite impressed." Once the prospect had a chance to speak to at least one customer, the sales person asks: "Well, Mrs. Prospect, I hope you really feel comfortable with us doing this project for you." After getting the prospects' answer, close the deal "today".

The "Think About It" Close + Video.

The phrase "I/we have to think about it" is probably one of the biggest challenges of every sales person. In this case, a sales person needs to show "respect" and tell the prospects that he will leave the house for a few minutes to allow prospects to discuss the offer in earnest. After about five minutes the sales person returns and hopefully he will be able to close the deal "today".

Example: "Mr. and Mrs. Prospect, I fully understand that you need some extra time to think about buying this product today. Let me take the briefcase to my car and I will leave you alone for about five minutes to discuss this mater. Hopefully when I return you will be able to tell me how you want to proceed today, OK?"

The Trial Close + Video.

A sales person uses the trial close during the sales presentation on a regular basis. This is as important as checking the temperature in the stove when baking a cake. The trial close is designed to help the sales person to identify whether or not the prospect is ready for a real close.

Example: "Mrs. Prospect, it seems to me that you like this product, don't you?" If the prospect says "Yes", the sales person should go for the final close. If not, it is necessary to ask additional confirmation questions to bring the prospect to the point where the real close may be effective.

The Valuable Customer Close.

A sales person identifies reasons for justifying to the prospect why she might be especially important to the sales person's company. Such reasons may include the prospect's professional and personal status and connections, location of the prospect's house, and a possibility of providing additional references. Based on this "special" status, the sales person offers the prospect additional discount or financial incentives to close the sale "today".

Example: "Mrs. Prospect, I am really glad that you like our product and the warranty. I believe that once you use this product and share your positive experience with your family and friends, this could make a big difference to us. For this reason, I am happy to offer you today an additional 10 percent discount. How does this sound to you?" After getting the prospects' answer, close the deal "today".

The Ultimatum Close.

A sales person politely suggests to the prospect that if the prospect does not move ahead with the purchase today, it may cause negative consequences later.

Example: "Mrs. Prospect, I am really glad that you like our product, but if we don't finalize this deal today, I won't be able to hold it for you tomorrow, because I only have two sets left and two other customers are coming in the morning to purchase them." After getting the prospects' answer, close the deal "today".

You may find additional useful Sales Closing Techniques online.

ADDITIONAL INFORMATION ONLINE

How To Close A Sale By Victor Antonio.
Stop Selling Start Closing By Grant Cardone.
Secrets For Closing The Closing The Sales By Zig Ziglar.
How To Close A Sale - 5 Reasons Clients Don't Buy By Victor Antonio.
"I Want To Think About It" By Jeffrey Gitomer's Sales Training Channel.

21. HOW TO HANDLE PROSPECTS WHO DON'T WANT TO BUY "TODAY"?

WHAT SHOULD YOU DO WHEN YOU CAN'T CLOSE THE PROSPECT "TODAY"?

Unfortunately, Prospects aren't always willing to make a purchase decision at the end of a sales presentation. For example, the prospect may say something like this to a sales person:

1. "You are a very good salesman (or saleswoman) and you did a wonderful job presenting      your product (or service). However, I will not make any decision today, no matter what!"
2. I did mention to you in the beginning of your presentation, that I will not sign anything      today!"
3. "I never sign anything on the same day!"
4. "I must discuss this with my spouse (or another family member)!".
5. "I must speak to my accountant, financial advisor, or attorney!"
6. "We must sleep over this decision tonight!"
7. "Please give me your phone number and I will call you back!"
8. "I have a rule never to sign anything on the same day!"

In this case, the Sales Person really has two choices:

1. To continue to press the prospect on making a decision "today" at a risk of alienating the prospect to the point of "no-return" and even risking being "thrown out" of the house.

2. To accept that the prospect will not make a decision "today" and to take the "second-best option" of arranging a second meeting with the prospect.

Warning:

This method should be used sparingly when the prospect is totally adamant about not making a purchasing decision during the first meeting. Many prospects agree to the second meeting simply to escape the sales person's pressure of making a deal "today" and subsequently cancel second appointments. However, a limited number of second meetings actually work out as a better alternative, end up as a sale, and develop into long-term relationships between customers and sales people.

SECOND MEETING CLOSING METHODS

• The Adjournment Close.

The sales person realizes that the prospect will definitely not make a decision "today", no matter what. In this case, instead of losing the sale altogether, it may be prudent to ask the prospect how much time will she need to make a final decision and subsequently schedule a second meeting. If the prospect will keep the second meeting, the probability of closing the sale is very high.

Example: "Mrs. Prospect, I fully respect your decision and will be delighted to meet with you again to finalize this matter. Please tell me whether you would like us to meet next Tuesday, or next Friday will work better for you?" Upon getting the prospects reply, close the date for the second appointment.

• The Calendar Close.

The sales person realizes that the prospect will definitely not make a decision "today", no matter what. In this case the sales person takes out his calendar, computer, or i-phone, and asks the prospect which day next week or any specific time in the near future will be suitable for her to meet again and finalize the deal. This close is similar to the Adjournment Close above.

Example: "Mrs. Prospect, I fully respect your decision and will be delighted to meet with you again to finalize this matter. Let's take a look in our calendars when will be a good day to get together - would you prefer next Wednesday afternoon, or next Friday morning will work better for you?" Upon getting the prospects' reply, close the date for the second appointment.

• The Manager's Close.

The sales person realizes that the prospect will definitely not make a decision "today", and there is no merit for him to meet with this prospect again. In this case, the sales person provides all relevant information to his manager and asks him to call the prospect in a couple of days. The manager subsequently calls the prospect and asks to provide feedback about her experience with the sales person and the reasons for not purchasing the product (or service) in the first place. Subsequently the manager tries to close the sale with the prospect at a reduced price - this is called "rehashing" the sale.

Example: "Mrs. Prospect, would you be willing to assist our company in our marketing efforts in your area, if I will be able to substantially reduce your product (or service) price by $500 through an additional advertising subsidy?" If the prospect responds positively to this idea, she is probably ready to buy if the price is right. Subsequently, the manager calls back in a few days: "Mrs. Prospect, I have wonderful news for you - your subsidy was approved!" and goes for the close.

• The Refinance Close.

A sales person provides the prospect with a detailed summary of all costs related to a specific product or service, but the prospect still feels that it's too expensive. Upon asking additional questions, the sales person suggests to the prospect that she may qualify for a home equity loan with a lower APR (annual percentage rate).

Example: "Mrs. Prospect, would you be interested to reduce your monthly mortgage payments by refinancing your house? If so, then I can introduce you to a highly experienced mortgage broker who may be able to refinance your house and save you a lot of money in the process. Then you can apply these savings to pay for our product (or service) and in the end it will cost you nothing or very little out of pocket. Does this make sense to you?". Upon getting a positive response, the sales person proceeds with the suggested plan and once it is finalized, a sale can be closed.

Warning: You must always advice to your prospects and customers that you are not a financial planner, or a mortgage broker, or a tax advisor, or a CPA (unless you are licensed in one of these professional designations), and that they must seek financial or tax advice from licensed professionals.

 

ADDITIONAL INFORMATION ONLINE

Let's Close A Deal By Christine Clifford.
Closing Sales - How To Close A Sale By Jeffery Combs.
Customer Threatens To "Shop Around" By Steve Richards.
Closing The Sales Secrets By Mark McClure And Mike Miller.
The Best Language To Use When Closing The Sales By Dave Yoho.

22. FOLLOW-UP THE SALE WITH THE CUSTOMER

STEP 8: FOLLOW-UP THE SALE WITH THE CUSTOMER

Finally, the sales person must Follow-Up The Sale to ensure that the customer is satisfied with the purchased product or service. After-Sales Service is particularly important if the company wishes to build strong business relations with customers and establish a sound reputation in the marketplace.

There are several Customer Relationship Management (CRM) software programs specifically developed for sales managers and sales people in small and medium-sized companies. These programs are designed to assist sales people to manage their relationships with customers in a more time- and cost-effective manner to ensure higher productivity and profitability of their organization. CRM software programs are discussed in detail in Tutorial 5.

ADDITIONAL INFORMATION ONLINE

Follow-Up After Sales Example By Dan I. Wolfe.
Selling Skills - Customer Follow Up By Mark Lacy.
Follow Up After The Sale By Jeff Lobb, Verified Agent.
Sales Follow Up 123 How It Works By Sales Follow Up 123.
How To Set Up A Sales Follow Up Call By Netty D. And Annette Lacovic.

23. TEN BIGGEST MISTAKES SALES PEOPLE MAKE

SALES PEOPLE SOMETIMES MAKE MISTAKES

Sales people often make "common" mistakes while conducting their business in the marketplace. Ten Most Common Mistakes made by sales people are summarized below. (59)

TEN BIGGEST MISTAKES SALES PEOPLE MAKE

• Mistake No. 1: Lacking Good Understanding Of The Selling Process.

As a professional sales person, you know that in the eyes of your customer, you are the company. Thus, if you want to succeed in sales, make sure that you know what is it all about.

Mistake No. 2: Doing Too Much Talking And Not Enough Listening.

As a professional sales person, you know that God gave us two ears and only one mouth for a good reason. Many sales are lost by salespeople who enjoy listening to their own sound more than they enjoy writing the business.

• Mistake No. 3: Using Wrong Words In A Sales Presentation.

Smart talking represents about 50 percent of the sales success. It's up to you to find out which 50 percent of your words are effective. Remember, it may take one hour to build a rapport with the prospect and only one wrong word to ruin it.

• Mistake No. 4: Not Providing Sufficient Level Of Comfort To Prospects.

As a professional sales person, you must identify the level of details which will make your prospect comfortable. Don't overdo it and don't under-do it. Just find the right proportion and you will have a better chance to close the sale.

• Mistake No. 5: Not Displaying Sincerity Toward Prospects.

Customers are always very sensitive toward the level of sincerity displayed by sales people. As a professional sales person, you must always remember this aspect of your work and be sure to display sincerity in a genuine way.

• Mistake No. 6: Not Recognizing When To Close The Sale.

The selling process, just like any other process, has a beginning, middle, and the end. As a professional sales person, you must recognize each stage, because you are in control of that process. You must know when to talk, when to listen, when to ask for the order and when to pause and stop talking.

• Mistake No. 7: Not Being Familiar With Effective Closing Techniques.

The ultimate objective of any selling process is to close the sale to the mutual benefit of both the buyer and the seller. As a professional sales person, you must be familiar with various closing techniques, and most of all never by too shy to ask for an order.

• Mistake No. 8: Not Providing Effective After-Sales Service.

As a professional sales person, you know that while you are on a "trip" discovering new prospects, you must never forget about your existing customers. So, as long as you remember, who ultimately “pays the rent”, you will remain on the right track.

• Mistake No. 9: Lacking Enthusiasm And Discipline.

Everything in this world is cyclical by nature, including you. As a professional sales person, you must maintain strong discipline throughout the year and exhibit continuous enthusiasm toward your business. Your customer will sense it too.

• Mistake No. 10: Lacking A Strong Will To Work Harder And Smarter.

Miracles usually do not happen by themselves. As a professional sales person, you probably know, that the harder and smarter you work, the luckier you will get. Many of your customers also know this.

 

ADDITIONAL INFORMATION ONLINE

The Biggest Mistakes Sales People Make By Ron Karr.
The Biggest Mistakes Sales People Make By Steve Kloyda.
Top 5 Mistakes Sales People Make By Doug Brown, CEO Paradigm.
Top 10 Career-Killing Mistakes Sales People Make By Straightlinebb.
Top 10 Mistakes Sales People Make By Lead Generation Telemarketing.

24. THE TEN COMMANDMENTS OF CLOSING SALES NEARLY EVERY TIME

DON'T FORGET TO CLOSE THE SALES

The prime objective of Personal Selling is to satisfy customers by offering them suitable products and services and, ultimately, closing sales. Professional sales people may become even more successful in the personal selling process by adhering to several important guidelines outlined below. (60)

THE TEN COMMANDMENTS OF CLOSING SALES NEARLY EVERY TIME

1. Always Do Your Best And Be Prepared To Deal With Customers.

You must always do your best and be prepared both mentally and physically in dealing with your customers. Remember that your attitude, knowledge, and professionalism will dictate the outcome of your selling efforts.

2. Use Your Opportunities The First Time Around.

Never forget that you have only “two chances” to make a good impression on your customer: the first time and the last time! Try not to miss your opportunities the first time around, since there may not be a second chance.

3. Be Able To Quickly Identify Your Prospects Needs.

As a professional sales person, you know that by asking a few correct questions you may establish if you have the product or service which can really solve your prospect's problem. Don't waste anybody's time by trying to fit your product or service to customer's needs.

4. Be Able To Address Your Prospects Concerns Completely.

As a professional sales person, you know that you should treat your customer's problems and concerns like your own. Never try to take short-cuts when it relates to customer's problems. Always be prepared to treat your customer the same way you would like to be treated.

5. Always Check All Details With Your Prospects.

Do not take anything for granted. As a professional sales person, you know that you must check and double-check all relevant details related to your selling work. Remember that if something can go wrong, it will.

6. Always Ask Your Prospects For A Decision.

As a professional sales person, you know that your customer understands why you are talking to him. After you present all relevant facts, you are expected to ask for a decision. So don't be afraid to ask for one. In the worst case the customer will say "No", and you will have to continue, and later ask again, and, maybe, again.

7. Always Give Your Prospects More Than They Expect.

Don't be afraid to always give 110 percent of yourself. Sooner or later it will pay off. The only problem is that you don't know exactly "when."

8. Talk To Your Prospects About Your Existing Customers.

If you buy a product or a service from somebody, wouldn't you want to hear from another customer that this product or service is really good. You customers are exactly like you - they also would be encouraged if your existing customers share their positive experience about your product or service.

9. Always Be Consistent In Your Work.

Consistency breeds success. As a professional sales person, you know that your consistent positive attitude and diligence has paid off so far and it will continue to pay dividends in the future.

10. Be Passionate And Sincere About What You Do.

You must always believe in what you do. If you don't believe in something - just leave it alone. Remember, if you are passionate about what you do - you will succeed, even if it takes a little longer. You will always have a better chance at something, if you really believe in it.

 

ADDITIONAL INFORMATION ONLINE

Closing The Deal And Increase Sales By Grant Cardone.
The Complete Sales Closing Seminar By Zig Ziglar And Paul Barrs.
24 Techniques For Closing The Sale - Part 1 By Brian Tracy, Rich Sadler.
24 Techniques For Closing The Sale - Part 2 By Brian Tracy, Rich Sadler.
24 Techniques For Closing The Sale - Part 3 By Brian Tracy, Rich Sadler.

25. FOR SERIOUS BUSINESS OWNERS ONLY

ARE YOU SERIOUS ABOUT YOUR BUSINESS TODAY?

Reprinted with permission.

26. THE LATEST INFORMATION ONLINE

 

LESSON FOR TODAY:
Don't Just Make A Sale - Make A Client!

Joe Griffith

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