Friday, December 6, 2013

Sales Closing Techniques: Isolate to Close

All sales training courses teach closing techniques. Invariably, the techniques taught will involve the overcoming of the buyer's objections by downplaying its importance and to continually overcome every objection until the buyer caves in and ends up buying.

Not a good approach if you ask me, as chances are the buyer will only buy once and never buy from you again - hard-selling does not build customer loyalty.  Research has shown that the cost of customer acquisition is much higher than the cost of customer retention.  Hence a strategy that sells once is not as good as a strategy as one that allows you to sell multiple times.

The question then is how do you close?

The key tenet of our sales system is the building of a relationship.  Premised upon this, we do not sell the buyer something he does not need.  If your company's product or services does not meet the client's needs and you tell him so, he is likely to trust you even more.  Thus, perhaps he might not buy form you now, but he will most definitely contact you again if his needs changes.  Additionally, your honesty with him is a refreshing change and he will likely become an evangelist for you and your product to his friends.

Closing Technique - May I know why?

The closing technique we teach is what we term the "may I know why" approach.  Assuming you have already built some rapport with the buyer and then done your benefits presentation, if the client objects to the sale, you simply ask why.

Asking why is important as you need to know if it is a condition or an objection.  In the former, you cannot do anything so your objective will be to build a long term relationship; while the latter is an indirect request for (a) more information; (b) better price/ deal; or (c) reassurance.

It is impossible (and very unproductive) to try to guess the reason.  The best way is to ask.  If there is rapport, chances are the buyer will tell you.  And this is where most sales professionals make the mistake.  Once a buyer gives an objection, the sales professional immediately jumps on it and goes into his close.  If the reason is the real objection, the sales professional will succeed.  If it is not, another objection will come up and the sales professional will need to close again.  If this goes on multiple times, the impression of a hard sell will form.

As such, at our sales training program, we emphasize that the sales professional isolate the objection.  For example, if the buyer says it is the price, the color or the delivery dates, then we ask if these are the only issues.  If the buyer says yes, then we proceed to overcoming the objections and do the close.  If the buyer hesitates, then we ask what are the other issues.  If the buyer brings up another issue, then we then try to isolate it again.  Only when all the objections have surfaced, do we even attempt to overcome them.

The point we are driving at is this.  There are conditions and there are objections.  You cannot close a condition so don't bother.  You can however close objections, but not a "moving target".  Thus, in order to close the sale, you need to isolate to close.

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To learn more closing techniques, join our sales coaching program.  We guarantee that you will triple your investment in 30 days or we will give you a full-refund.  To sign-up, email justin[a}cwfongandassociates.com

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