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Chapter 1 – The Psychology of Closing
Stefy
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Main Lessons:
Many times, your very best prospect will refuse an appointment because he doesn't want to "waste your time or his time". He is often the best prospect because he knows he either wants or needs –or both– the product you're selling. However, at this particular time, he doesn't feel he's in a position to take action.
1. Know something about your prospects Get as much advance information as humanly possible and capitalize on that information.
2. Break the price into smaller segments
3. You can sell more by asking than telling Ask questions to identify the problem and lead the prospect to the decision. Find out what he needs to solve his problem and, and show him how he can solve it by using your product. By asking questions, there's no way you can get unhappy with the answers you give to those questions.
4. Many times a prospect will ask you for something very specific. Remember though, that many people do not know what they want because they don't know what's available.
. It's Not Easy It takes work to become a professional salesperson and to build customers instead of just making sales. A lot of work is required.
Convince, then persuade a. How do you persuade people? - You don't tell them, you ask them b. What is persuasion? - It derives from the French "to give good advise in advance"
Concerning the "no hurry" objection: "The only decision you need to make at this moments is whether or not you can handle this first payment..."
Practical Advise
> Never give the prospect a choice between something or nothing. Let him choose between something and something else.
> Your belief in your product should be so strong it would be impossible for you to understand how anybody could possibly not want what you're selling.
> It's a psychological fact that "the fear of loss is greater than the desire for gain".
> A bond must be formed between you and the prospect before anything significant will be bought or sold.
> You cannot be one kind of person and another kind of salesperson. You must be consistent in all areas of life if you are going to achieve maximum results in building your sales career.
Credibility: The Key to a Sales Career Calls produce sells and no calls produce no sells.
Make engough calls, or presentations, or meetings
Be as effective as possible on every call
Make mental and/or written notes on every call as to what you did right, what you could've done better, and how you can make your next presentation even more effective
Credibility is Critical If you could improve your closing percentage by 10%, your additional volume would be substantial, or your time for other pursuits would be dramatically increased.
The close is no more, or no less, important than any other phase of the sales process. Closing is important, though (there's no use in reaching only up to third base)
In selling, like in baseball, you must touch all the bases. Without the close the rest of the process is wasted.
"Little" things determine sales results
Smile and be courteous
Be on time
Be thoughtful
Communicate to your prospect that you do believe in what you're doing, that you are interested in serving him, and that you do feel you're offering the best product or service at the best price which will do the most for him and his needs.
When should you close? In many cases is best to close early, but you can close (or attempt) to close to early and lose any real chance of making the sale later. What or when is "too early"? – When you attempt to close before you have established in the prospect's mind significant value for what you are selling.
If you try to close before you establish value, you come across as a high-pressure salesmen who wants to make the sale and get on to the next prospect. You will appear to be interested only in what you want.
Commonsense Selling When a prospect says no, the odds are at least 100-1 you're not going to be able to get him to change his mind.
Prospect won't change their mind, but they will be delighted to make a new decision, based on new information (i.e: printing in both sides, house with no city taxes, etc...)
When you use pressure on a prospect and persist in your efforts to get him to buy, all you're doing is antagonizing him or turning the prospect off. When a prospect says no, chances are that in his mind, he simply does not feel the product (for him) is worth the price you're asking.
> In most cases you can't change or lower the price significantly, but you can dramatically change the VALUE (by giving additional information about your product).
Understand that every close you learn and use should give the prospect a reason to buy, an excuse for buying, or information so that he can act in his own best interest.
Assume that everyone you approach is a good prospect with a real problem (need) which you can solve.
Generally speaking, your prospect hears the beginning and the ending but often does not hear what's in the middle.
Voice Training to Close Sales You need to (you must) start using a cassette recorder for the training and development of your voice and sales procedures so that you can say what you say even more effectively. > Much of what you say is superfluous and you often speak in a monotone. > Record your conversation, listen to it and then ask yourself: "If I were calling on me and made that presentation, would I be able to persuade me to take action on the offer?" > You must know how you sound to your prospects. > Voice inflection is the most important single undeveloped skill you need to concentrate on in your pursuit of professional sales excellence.
Dealing with the price objection: "If there were a way I could show you that the price is more than fair and the product is worth every dime we're asking, would you go ahead and take advantage of our offer today?"
