One of the hardest parts of a sale for many people is the close. After learning about the client, asking the right questions, sharing your solution to their problem, and all of the other parts of the sales process, the fear of asking someone to buy can be the one thing that ends a career in the business.
In some systems, the sales process is broken down into activities, kept track of and examined. Doing this can show where the salesperson is strong and where they are in need of improvement. Every part of the process can be looked at, like making phone calls, getting referrals, and even how many meals one has with a prospect. And closing the sale always seems to be the part where people have the most issues.
Oddly enough, there are sales people out there who are great closers but can't open a case to save their life. For those people, I suggest you team up with someone who can get the clients and isn't very good at closing, then split the business. Teamwork can work wonders sometimes.
In my book I discuss how dating is like sales. There's some fact finding, asking interesting questions, and ultimately, trying to close the sale. Even in love and romance, that last part is the most difficult.
Do you need help closing? Most of us do, so here are a couple of good ideas I would like to share with you.
1. The Puppy Dog Close. Probably the most notorious close, this is based on the pet store owner who is dealing with a family that is on the fence about getting a dog. The owner offers to let the family take the puppy home "just for a few days" with the understanding that the family can bring the dog back if they aren't happy. Of course, the pet store owner knows that the kids will fall in love with the dog and his chances of having the dog returned are slim.
Variations on this are basically the "Trial Period" close. Letting someone try a product or service is a great sales technique, as we can see all over the internet. A free 10-day trial on streaming services is just as effective as letting your client know they can change their mind on a Medicare supplement. There are times when someone will change their mind, but the odds are in your favor.
2. Middle Pricing. Don't give your prospect just one buying option. Instead, give them three options, from a low-priced option to a "Cadillac plan". In some unexplained phenomenon, people tend to choose the "middle" plan. This was taught to me by a veteran insurance agent who, as a side note, was the most laidback and unassuming person I ever met. He was a top producer and this was his "secret sauce".
I discussed this with an insurance colleague a few weeks back and was sharing how I present three life insurance options to a client. As I explain the pros and cons of a very inexpensive term life option, a bit more expensive universal life policy and an expensive whole life plan, I can see the prospect looking at the choice in the middle. My colleague was intrigued by this and I told him, "They don't want to spend a lot of money, but they don't want to look cheap either."
3. The Assumptive Close. This technique is the one that is usually taught in sales classes. Getting to the end of your presentation you should ask for some feedback. If the prospect says they like it, even half-heartedly, you "assume" that is a buying signal and ask how they would like to pay for it. "Will that be a check today or cash?"
I actually used this close to get away from a person who was clearly crazy. Not being able to get out of this guy's house soon enough and feeling unsafe (I'm pretty sure he was armed), I simply asked how he would like to pay. He stared at me like he was going to strangle me and said, "I ain't buying nothing!" angrily. I thanked him for his time and used that as my excuse to leave.
My advice is to find a version of each of these and see what works. Depending on your personality and comfort level, you may settle into one or two that produce results. In the meantime, if you have questions or comments, leave them below. And please stay healthy!
Chris Castanes is a professional speaker who helps sales people succeed through workshops and humorous presentations. He's also the author of "You're Going To Be Great At This!", a humorous look at sales. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.
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