The art of closing the sale
Chapter 4: Mastering the Ending Technique (1)
The greatest thing in the world is not really where we are,
but in the direction we are going. – Oliver Wendell Holmes Jr.
Selling is not easy.
Every day you wake up
and begin the journey of prospecting,
identifying needs,
introducing products,
handling objections,
and closing the sale.
It was a very,
very hard job.
The more methods you know how to do the above tasks,
especially closing the sale,
the more successful you will be
and the faster you will achieve your income goals.
“Virtually nothing else is as important
as how one is made to feel in any business transaction.
Hospitality exists
when you believe the other person is on your side.” – Danny Meyer,
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PREPARING TO IMPORT CUSTOMERS ORDER
Before you ask a closing question,
make sure the prospect is ready.
Ask a question to make sure
the customer has no questions or objections:
“Do you like this product?”
If the customer replies,
“Yes, that looks great,”
you can ask a follow-up question:
“So when do you need this product?”
You can ask another question at the end
of the product introduction:
“Dear customer,
do you have any other questions
or concerns that need to be answered?”
This is called a negative answer question.
When customers say no, they say yes.
By now, you can come up with a closing question.
“When you assume negative intent,
you’re angry.
If you take away that anger
and assume positive intent,
you will be amazed.” – Indra Nooyi
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ENDING “THE LINK”
One of the best closing skills
you can learn is chain endings,
also known as partial
or automatic endings.
This skill consists of a series of questions,
the former leading to the next
and all of which require a “yes” answer.
Before the advent of the Internet,
the introduction of the sales method applied
to the sale of encyclopedias was considered the most effective method
of closing the “chain”.
Many people who started out selling encyclopedias have been
very successful in business
and in other fields
by effectively using the method of closing the “chain”.
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Prepare your questions carefully
A group of behavioral psychologists worked together for six weeks
and co-wrote an introduction to the encyclopedia,
choosing their words very carefully.
They spent over $250k researching background information
and put all their effort into completing a perfect pitch.
That presentation consisted of 42 questions,
each of which required a “yes” answer.
The series of questions starts
from the most general to the most specific.
Each question helps you assess the customer’s interest
and buying ability in more detail.
For example, a salesperson knocks on the door of a house,
with or without appointment,
and the first thing they say is:
“Hi, do you live here?”
This may seem like a simple question,
but it helps salespeople determine
if they should continue with the product presentation.
If the person opening the door is a visitor,
the salesperson will ask if they can speak to the owner.
Ask easy questions
The second question is:
“We are conducting a survey
for a national educational institution in this region.
May I ask you a few questions?”
Most of the time, customers answer “yes”.
People like to give their opinions and comments.
Then the salesperson will ask:
“Do you believe in the important role of education?”
customers will continue to answer “yes”.
At this point,
the salesperson posed three questions that yielded a “yes” answer.
“Do you live here?
Would you mind answering a few questions for our survey?
Do you believe in the benefits of going to college?”
“Can I come in the house?” Answer: “Yes”
“May I sit down?” Answer: “Yes.”
“We’re doing part of our public relations program,
so we’re leaving a free encyclopedia in select households.
Is your family interested in this?”
Again, the customer will answer “yes”.
Everyone loves getting free stuff.
The salesman said,
“We do not sell this set of books.
We just leave the books in the family’s living room
so that when the neighbors come over
and see the book series,
they will ask you where you bought the book series,
you will tell them that you received it from our organization,
so we can go to their home
and show them how to get a similar set of books.
Are you willing to do so?”
The answer “yes” is repeated.
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Ask questions in sequence
The introduction with the end of the link goes through 42 questions in turn,
each of which requires a “yes” answer
to help the salesperson move on.
If the customer says “no” once, the conversation is over.
At the end of the demo
(which begins with an offer of a free encyclopedia
as an expression of goodwill to establish public relations),
the customer will purchase the $3000 set,
subscribe to books for ten years,
and also receive a free globe,
bookshelf,
or children’s sports book series.
The customer would write a check for $500 as a deposit,
sign a one-year commitment to pay,
and eagerly await all.
books about homeschooling.
The Power of “Yes” Answers
An introduction with a “link” ending is so effective
because it relies on the evocative power of the affirmative answer.
“If at the beginning of your pitch you can ask a question with a ‘yes’ answer,
it’s very difficult for the prospect to turn it down later.”
When you ask a series of six or more questions
to which the customer answers “yes,”
then the customer either nods
or almost agrees with everything you say.
If at the beginning of your pitch,
you can ask six questions that yield a “yes,”
the prospect is unlikely to turn down later.
If you can ask six “yes” questions about the benefits of your product or service,
the prospect will fully believe in the nature
and value of your offer.
Ask the same question
You can ask many of the same questions
but use slightly different words. Eg:
“Dear customers, do you want to increase profits?”
Answer: “Yes.”
“Do you want to run your business more efficiently?”
Answer: “Yes.”
“Do you want to get more done in less time?”
Answer: “Yes.”
“Are you interested in a highly profitable solution?”
Answer: “Yes.”
“Do you want to try this solution now?”
Answer: “Yes.”
Offer the same benefits
When customers say “yes” six times in a row,
they are more likely to answer “yes”
to most of what you say,
even if the answer is the same,
simply expressed in different ways.
“Your goal is financial independence, right?”
“Do you want to earn the highest return with the lowest risk?”
“Do you want to earn higher returns than a savings account
or money market fund?”
“Do you want to research the favorite investment tool
for thousands of sophisticated investors like you?”
“If you found one thing
that can help you achieve all of the above benefits,
would you like to try it now?”
Each time you ask a question,
the customer’s interest increases.
Each “yes” question stimulates the desire to have the product.
Every time you ask a question with a “yes” answer,
you increase customer excitement.
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Choose your words carefully
But every “no” answer reduces the desire to buy.
So the way you ask the question is very important in helping
you always get a positive answer from the prospect.
They must answer “yes”
Properly designed and carefully practiced,
closing the link is one of the most effective sales techniques ever.
This method is successfully applied in selling life insurance,
career services,
educational products,
software, etc.
and in many other fields.
When you have asked enough questions that yield a “yes”,
starting from the most general to the specific,
leading from one point to another logically,
the customer’s desire to buy will continue position increases.
Finally, at a certain point, they will say, “I will buy.
How much money?
When will I receive the goods?
Where do I sign?”
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Forming a desire to buy
Each time you describe a benefit
while recommending a product,
the customer’s desire to buy will increase.
Imagine how someone would describe a new restaurant to you.
“I wanted to tell you about the restaurant I just went to.
The food is impeccable,
the drinks and wine are great,
and the prices are also very affordable.
Beautiful interior design,
in the main dining room
there are people playing classical music.
The service here is also second to none.
The manager is very pleasant
and everyone including the waitress greets you like
you are the owner of the restaurant.
There is free parking around the restaurant
and the restaurant is not very crowded
because not too many people know about it.”
When your friend describes the advantages of the restaurant,
you yearn to get there as soon as possible.
You can’t wait to call and reserve a table.
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Description of benefits
When you describe the benefits of the product/service you offer
to your customer with a firm,
assertive, enthusiastic attitude,
the point will eventually come
when the customer will ask,
“How long will it take for me to get this product? ?”
The more logically
and carefully prepared the introduction with the “link” ending,
the better your chances of making a quick and easy sale.
It takes a lot of work to design
and make the perfect presentation,
and when everything is perfect,
your presentation will be irresistible.
“Customer service represents the heart of a brand
in the hearts of its customers.” – Kate Nasser
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ENDS WITH INVITATION TO ORDER
Closing with an offer to order
is one of the most persuasive tricks in sales today.
At the end of the product introduction,
you directly issue an offer to buy the product you just described.
“If you are marketing a service, ask:
“Why do you not tolerate our service?”
When you put the phrase “we” in this question,
it implies that your entire organization will open its arms
to the customer and work hard to make the user happy.
You can ask:
“Do you like the product I just described?”
When the customer responds,
“Yes, that sounds cool,”
you have to immediately close the offer and ask,
“So why don’t you try it out?”
Customers will easily decide to accept the “try it out” invitation.
Customers who are reluctant
to buy a product are at least willing to “try it out”.
Your task is to issue an invitation.
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Find out the reason for the final refusal
Sometimes when you ask:
“Why don’t you try?”
Customers will think of reasons for their hesitation.
Stay calm, answer the rejection clearly,
and ask,
“Did my explanation help you answer your question?”
Then continue to ask the customer to buy.
If you are marketing a service, say:
“Why don’t you try our service?”
When you put us in this question,
it implies that your entire organization will be open to customers
and do their best to make them happy.
If you’re selling a product like a car or a refrigerator,
you can include a closing invitation like,
“Why don’t you take this?”
or “Why don’t you buy this product?”
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Just ask questions
If a customer says things like,
“I’m not sure, maybe I should leave it for later,”
or “I don’t know if I can afford it,
let me think about it,”
you could say:
“ Yes, I know all of that.
But this is a superior product at an affordable price.
Why don’t you buy it?”
Then be absolutely silent.
You will be surprised to learn
that a lot of customers can’t get through this point.
They are just waiting for you
to invite them to make a purchasing decision.
When you do,
they feel very relieved.
Usually they’ll say,
“Okay, I’ll buy it.”
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Many ways to ask
Here are some standard closing invitations.
“When do you want to receive the goods?”
“When do you need this product?”
“Do you want this product delivered to your home or work?”
“What color do you like?”
“Do you want to try it now?”
“Do you need this product right away?”
In all cases, when you make an offer to buy,
the customer will agree and continue
to cooperate when you make the offer,
the customer will agree and continue
to cooperate when you close the sale
or They’ll give you a reason to say no
to which you must be ready to respond:
“What do you mean?”
When you use closing invitations,
you’re in control of the sales conversation.
“Do you need it urgently or until Tuesday?”
If the customer says,
“Yes, Tuesday is fine,” you have a successful sale.
“Goodwill is the only asset that
competition cannot undersell or destroy.” – Marshall Field
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HANDLING AGAINST PRICE
We’ve already talked about price rejections.
Everyone has a problem with the price.
Worries and concerns about prices often appear
from when you are very young
to sensitive issues related to money
that you will encounter throughout your life.
However, price is not the deciding factor in purchasing
a product or service.
Price is important but not everything.
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Some points to remember about the price
1. No one can afford that price.
No one can pay that price.
No one can pay the first price offered by the seller.
Regardless of the price,
customers always feel
it is too high compared to their expectations.
The main reason is that customers do not have a concept
of a reasonable price of the product
or they do not have enough money to buy that product.
We held a workshop over the weekend.
I stood on the stage and said,
“The ticket to the conference is only forty-five dollars per person.”
Immediately,
many people came down to the back of the room
or called us to say that they wanted to attend the conference
for only $4.95 including all expenses.
Instead of $495, they thought we were talking about four dollars and 95 cents.
In fact, they even offered a discount.
They had no concept of a fair price
to attend a two-day conference held in a first-class hotel
or convention center,
so they were shocked to learn the true price.
This phenomenon is quite common.
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Everyone’s financial capacity is limited.
When you set a price,
that amount will suggest a variety of other goods
that customers can buy with that amount of money.
This is called the principle of selection by the exclusion method.
All choices imply exclusion of something else.
With everything you buy,
there’s always something you can’t buy.
People often attach great importance to freedom of choice.
When you buy a product,
you have to give up some other options.
Your options are limited
because you have reduced the amount that is available.
This is why when a price is offered,
no matter what,
people automatically say, “I can’t afford it.”
The first time you talk about the price of the product,
the customer is surprised.
Therefore, you need to take the time to describe the value of the product
or service you offer before mentioning the price.
2. Willingness to pay is completely different from ability to pay.
Willingness to pay and ability to pay are two completely separate things.
No one is willing to pay whatever price you offer.
No one wants
have to spend money and that limits their own choices.
But the customer’s ability
to pay is a completely different matter.
People can buy a product
or use a service if necessary.
Your goal is to increase willingness
to pay by stimulating the desire to buy.
Emphasizing and repeating over
and over the benefits customers get
from purchasing a product
or using a service will help you achieve this goal.
The more customers crave the product,
the less sensitive they are to price.
Convince customers that the value of the product far outweighs the cost.
They must be completely convinced
that the benefits they receive are much greater than the price you offer.
Try to delay negotiating the price whenever possible.
Let’s focus on the benefits.
Thus, when it comes to price,
customers will feel that the price you offer does not seem too high.
3. Mentioning prices at the wrong time will ruin the sale.
This is the basic rule in sales.
If you mention the price issue before the customer decides
to buy the product or use the service,
they will lose interest
and thus the sale will end.
Usually, at the beginning of the transaction,
the customer will ask:
“How much is this?”
At that time, the customer has no concept of the product you are selling.
They do not know the features and benefits you bring
or what they benefit
from using the product you are selling.
If you set a price before customers know these things,
they will have no basis to compare
and compare with the price.
Then the price will become the focus of the transaction,
and surely the customer will say:
“The price is too high.
I don’t have enough money to pay.”
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To lose the sale
When a customer says, “Just tell me the price
and I’ll tell you if I like this product.”
That is, they are trying
to shorten the information gathering period and the transaction.
If you answer this question right away,
you will ruin the sale.
Customers have no basis for the price
to compare to the price you offer,
no concept of what they will get for that money.
When you bid, say the price
before introducing the value
or benefits that compensate for that price,
the customer will have no choice
but to complain that the price is too high.
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Dodge the question of price
When I first started selling,
I often said the price to expect the customer to listen to me.
But when I do,
all I hear is the answer:
“I don’t like this product?”
And the customer stamps the machine.
I realized that if I offered a price
before the product was introduced,
I wouldn’t be able to do anything in time,
so I tried to deal with the price question.
We can guess the customer will ask:
“How much is that?”
“Ladies and gentlemen,
that’s the most fun part!”
I happily replied.
“If it doesn’t really suit you,
you won’t lose a dime.”
“What do you mean?”
I replied: “Dear customer,
if the product I called to introduce
to you does not match your requirements,
you will definitely not buy it, right?”
Customers will say, “Yes, I will not buy.”
“So if you don’t buy, you won’t lose a dime.”
When I say that, the customer will say,
“Okay, so what is your product?”
“That is what I would recommend.
I’m only asking for ten minutes,
I have something to show you.
“After that,
I made an appointment
with the client in person for about ten minutes.
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Common denominator
Customers always price from the beginning
because money is always the common denominator in society.
Currency, whether dollar,
euro or franc,
has always been the standard measure in trading activities.
We research and compare products
and services by understanding their prices.
Price tells us where a product
or service stands in the world.
We ask for a price so that we can put a particular product
or service into our knowledge base.
Why do you think people talk about the weather?
That’s because people can understand the weather.
That is another common denominator in society.
Weather has the same effects on everyone.
Asking the price of anything is like commenting on the weather.
But you must avoid this question
if it is raised too early in the transaction.
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The reason for the rejection of the price
A price disclaimer is a customer’s way of letting
you know you haven’t provided enough evidence
to prove that the benefits of the product outweigh the price.
For this reason, never argue about price.
Never say the price you offer is “reasonable”,
“affordable” or “satisfactory”…
Whatever the customer says about your price,
always agree.
Then go on to say a few things:
“Ladies and gentlemen,
this product is obviously not cheap,
but there are some good reasons for this age.
Let me explain why we set such a price.”
or “There are some good reasons
why thousands of customers love
to research this product carefully,
compare it with other companies’ products,
and then decide to buy it
even though they know they can buy a similar product,
with lower prices.
Would you like to know why that is?”
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Proud of your products
If you offer a high price, be proud of it.
When a customer complains,
“It’s too expensive!”, you can say,
“That’s right, ma’am.
In fact, we are the most expensive product line provider on the market.
Currently, our company sells the most products ever.
Do you want to know
why even though we charge a higher price,
so many people still buy our products and use our services?”
You’ll usually get a “yes” answer when asked,
and you’ll have the opportunity
to talk about the benefits
and value of the product.
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Reduce anti-price attitude
A woman walks into a retail or fashion boutique,
looks at a dress, and then sees a price tag of $800.
She exclaimed, “Oh, it’s so expensive!”
The salesperson agreed and said,
“Yes, this is an expensive dress.
It is a product of the St. John’s Knit.
Of course, there is a reason
for the high price tag of this dress.
Firstly, the dress is made of the finest materials,
hand-stitched with pretty buttons,
and the neck and lining are also very pretty.
Wearing this dress,
she will feel like one of America’s best-dressed women.
The dress is worth the money and doesn’t go out of style.
She can wear it for years and still look great.
That’s why this dress costs $800.”
“If you put a high price on it,
be proud of it.”
When customers know all the reasons
why a product is so expensive,
their resistance to the price decreases
while their desire to buy increases.
The reason why there are so many customers
who don’t spare money to buy high-end clothes every day is
because they focus on value rather than price.
Always justify the price with a good reason.
Careful, detailed explanation of the reason
for the high price of the product.
Do not argue about the price
without mentioning the value
and benefits of the product.
“You need to stimulate the desire
to buy by emphasizing the results
and benefits of the product.
You can’t increase a customer’s desire to buy
by arguing over price.
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Delayed mentioning the price
I want to emphasize:
“under no circumstances should the price be mentioned in the first place.
When a customer says,
“This looks great,
how much is it?” answer:
“This is a great question,
but can I come back to this question in a minute?”
or “Price is the p most interesting part.
I will come back to this in a minute
and you will be pleased to hear the price of this product.
But before I mention the price,
can I ask you a few questions?”
Please continue to ask questions
and control the transaction.
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Choose the right time
In product presentations,
I usually choose a specific time to explain the price.
Once the client knows what I sell and
why it’s the best choice for them, I’ll say,
“I believe you’d love to know how much this product costs.”
But the price was not mentioned before that time.
I don’t talk about prices
until I’ve decided the time is right.
If the price question is raised earlier,
I delay answering.
To limit price sensitivity,
you must continually emphasize the value the customer gets
instead of the amount they pay.
Talk about the benefits and uses that the product brings
to the user instead of the cost of the product.
“The two most powerful things in existence:
a kind word and a thoughtful gesture.” – Kenneth Langone
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HOW TO END “LOOK CAREFULLY”
When you have to answer a price question,
don’t give the customer specific numbers.
Use the “interlaced” ending.
With this type of ending,
the price will be included
in the middle of the description of the value
and benefits the customer receives
when buying the product.
For example:
“This machine, with the features
and uses I just mentioned,
its accessories,
basic fuel and material supply service,
and a 90-day warranty will cost about X dollars/month when use.
In addition,
we offer comprehensive customer support and training
until you get the most out of the product.”
In this case,
you can include the price in the middle of the description
of the benefit for the customer.
Such benefit pitching tricks the customer
to focus on the value they receive instead of the price.
This is an important rule in sales:
increased desire to buy reduces price sensitivity.
The more customers want the product,
the less they care about the price.
You need to increase the desire
to buy by emphasizing the benefits
and uses of the product.
You can’t increase a customer’s desire
to buy by arguing over price.
“Instead of focusing on the competition,
focus on the customer.” – Scott Cook
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COMPARE YOUR PRICES WITH COMPETITIONS’ PRICES
You can reduce price objections
by comparing the prices you offer
to more expensive products.
When a customer says,
“It’s too expensive!” you might answer:
“Expensive compared to what, sir?”
Often customers don’t understand what they are talking about.
They don’t know about your product
or products that are similar to yours.
Maybe they’ve never bought your product
or haven’t bought it in a while.
They do not see the price increase much
since the last time they made a purchase.
When you ask: “Expensive compared to what, sir?”
The customer might say, “Well, compared to the ABC product,
It seems that the one you sell is more expensive.”
You reply: “ABC product is similar to our product
but without some additional features
and benefits and is $275 more expensive.
Here is their recent price list.”
Show customers a price comparison table.
Logical reasoning always helps in successful trading.
Provide the client with proof that
they should be confident in accepting your offer.
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Compare apples with apples
You need to find out which brand your customers compare your products to.
For example, if you say,
“This Mercedes costs $105,000,” and they say,
“That’s expensive!” then you will ask:
“Expensive compared to what, ma’am?”
If they compare their Mercedes with a Honda,
of course the Mercedes is much more expensive.
But there are some very obvious reasons
why a Mercedes is more expensive than a Honda.
“Do you want to know the reason?”
Always compare apples to apples,
oranges to oranges.
Find out how much competitors charge
for a product of the same type
as the one you’re selling
and find reasons for the difference.
When a customer says,
“Looks like it’s too expensive,” you might say,
“Dear customer,
here are some of our main competitors.
This is the product they offer,
and this is the price they offer.
You can see that,
compared to other brands,
our products are sold at a very reasonable price.”
Spread the price evenly over the product’s life cycle
You can reduce price objections
by spreading the price evenly over the life of the product.
If the customer feels the price is too high,
you can point out that even though it costs $300 more than the competition,
your product lasts up to five years.
You could argue,
“Even though you pay $300 more, that’s $60 a month,
you get to use a machine with better quality,
more features,
benefits,
and accessories.
Would paying the extra two dollars a month
or about 16 cents a day be enough
to get the best product on the market?”
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“The business sucks!”
Sometimes people complain,
“Business sucks.”
Even in the good times,
people complain that the work is not
as good as they would like
and that they do not have enough money.
The reason is that in the bleak times of business,
people form the habit of complaining about the business.
As the situation cleared up,
they kept their old habits
and continued to complain
that all the things they complained about were no longer true.
When customers say they can’t buy
because business is not good,
you haven’t given them enough reason to convince them to buy.
You haven’t aroused enough desire to buy.
Continue to emphasize the results,
benefits and uses of your product for them
and how it helps them improve their lives and work.
A strong desire to buy will help reduce price sensitivity.
“The more advocates you have,
the fewer ads you have to buy.” – Dharmesh Shah
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MAKING OPTIONS
Sometimes customers say they are “short of money”.
You can ask,
“What if we deliver the product
to you with certain conditions
and an extended payment period?”,
or you can say:
“What if we exchange our product
with your existing product,
you don’t have to pay to use our product?”
“What if we let you defer payments until the next paycheck?”
“If we extend the payment period
from three years to five years,
then the monthly installments will be less,
what do you think?”
When customers are brighter, happier,
and interested in your favorable offer,
it means they are likely to buy.
This is the time to make the most of your creativity.
“Happy customers are your biggest advocates
and can become your most successful sales team.” – Lisa Masiello
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BUY A MERCEDES CAR
A few years ago,
I saw a successful businessman driving a silver-gray Mercedes Benz 450 SEL
with four blue leather seats.
From that moment on,
all I thought about was owning such a car.
One day when I was pitching to a car dealership,
the general manager said,
“I have the perfect car for you.
Come over here and look out the window.”
Just below the second floor window
is a silver-gray four-seater Mercedes 450 SEL.
It’s my dream car.
But my first reaction was the same as every other customer.
“Unfortunately, I don’t have enough money.
Too expensive.
The car looks nice but it’s not for me.”
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Find a way to sell
The general manager is a very knowledgeable
and talented person in the field of auto sales.
“Maybe you are right,” he said.
Maybe the car isn’t right for you at the moment.
But if we exchange that car with your current car,
you don’t have to lose any money
while still having the opportunity
to drive the other car,
what do you think?”
I was very happy, but still said,
“I don’t have enough money.”
The director continued,
“Brian, if we loan you the full amount of the car,
what do you think?”
When the manager calculated the monthly installment,
I replied, “I can’t pay that much in a month.”
The director immediately said:
“Since this is a Mercedes, we were able
to extend the installment period from three years to five years.
Can you pay in that amount of time?”
I never got the chance
like that. They took the car in exchange for cash.
They loaned me the rest of the money
through one of their own banks
and extended the payment term to five years.
Since I bought the car through my company,
I can waive interest and depreciation.
The amount I have to pay for the Mercedes is only $125/month.
It’s one of the best bikes I’ve ever owned.
The point I want to emphasize is that there is always a way
to make a sale if the customer really wants the product.
You need to be creative.
When customers show a strong desire to own and use the product,
find a way to make their wish come true.
“Customers are like teeth.
Ignore them and they’ll go away.” – Jerry Flanagan
*********
SOLVING THE PROBLEM OF LIMITED BUDGET
“Never forget that in the eyes of a buyer,
a seller’s claim or assertion is not conclusive proof.
Just because you say something is true doesn’t mean
it’s also true from the customer’s point of view.”
Customers often refuse to purchase due to “a tight budget.”
They said, “We don’t have a lot of money in the treasury.
Our budget is running out.”
You reply, “I have a solution.
We’ll sell this product to you,
but we won’t send you an invoice
until your next budget period.
How does she feel?”
If the customer really wants the product,
they will agree.
You can get something else in exchange,
or reduce the installment to the lowest,
or offer a cheaper product
with the same function,
or expand the customer’s budget
to buy the product right away.
Try to find a solution.
“All businesses need to be young forever.
If your customer base ages with you,
you’re Woolworth’s.” – Jeff Bezos
************
WHAT YOU PAY FOR
When the price is higher than the customer’s prediction,
they will say, “The price is higher than I thought.
Can’t I buy this product at a cheaper price?”
Here’s how you answer.
First, you ask:
“Dear customer, have you ever received something for free?”
Customers admit they never get free stuff.
Continue: “Dear customer,
have you ever bought something cheap but of good quality?”
After a few seconds of thinking,
the customer admits
that they have never bought anything cheap but valuable.
Finally, you ask:
“Dear customer, isn’t that what you pay for?”
When the customer agrees to that, you can say,
“Sir, this is a fair price
and the market is fiercely competitive.
We sell this product at the lowest possible price
and stay in business.
If you want a high-quality,
durable product with many uses and benefits,
you should sometimes stretch your budget somewhere else
to get the money you need.
Isn’t that right?”
“The first step in exceeding your customer’s expectations is
to know those expectations.”– Roy H. Williams
***********
SELLER’S CONFIRMATION IS NOT CONFIDENTIAL EVIDENCE.
Never forget that in the eyes of the customer,
a seller’s endorsement or assertion is not conclusive proof.
Just because you say something is true doesn’t mean
it’s also true from the customer’s point of view.
You know you’re not lying,
but not everyone knows that.
Customers believe
that you put the most beautiful,
shimmering lights on your products just to make a sale.
When you say,
“This product has a very competitive price,”
it doesn’t mean anything.
But when you show a comparison
of the prices of a recent newspaper,
magazine,
or quotation from a competitor,
it can be valid proof.
When you say,
“You will be very pleased with this product,”
the customer will respond, “Definitely.”
But they are still skeptical.
But if you put the above claim together
with a testimonial letter from a satisfied customer,
that letter is convincing proof.
*************
Least common denominator
You can reduce the price objection by comparing the price
with the least common denominator.
Compare your offer to a can of Coca-Cola or a cup of coffee.
Some people compare their product to a pint of wine
or a case of beer a week.
Others compare their products to a dinner out once a month.
Compare your rates to something customers use often.
“Sales without Customer Service is
like stuffing money into a pocket full of holes.” – David Tooman
*************
END “ULTIMATE”
One cause of sales discouragement is
when customers hesitate to make a purchase decision.
You often have to find a way to deal with slow,
sluggish customers.
They don’t say yes and they don’t say no.
They are forever “thinking about that product.”
They discuss with others, review,
refer to that product with accountants…
This can become a complicated matter.
You spent a lot of time meeting customers.
You don’t want to lose your entire investment
but not make any sales and earn no commission.
What must you do now?
In this case,
you can use the skill of ending the “ultimate ultimatum” also known
as the end of the long
or unexpected ending.
This method allows you to control the process and settle the sale.
Bite the fish or pull the bait
To do this, first fill out the contract of sale
with exactly what was discussed,
then call and tell the customer that you need to meet
with them to discuss some emerging issues.
You’ve been to their house so many times that the client will agree
to meet you without a doubt.
When discussing with customers, look and
their eyes and say:
“Ladies and gentlemen,
I have thought about this,
this may be an idea that works for you,
but it may not.
But no matter what,
we should make a decision now.
What do you think?
“I have filled out the contract
what was discussed and if you will allow us,
we can sign the contract right away.”
You take the completed sales contract,
put a tick next to the signature line,
put the pen on the contract table
and push it over to the customer.
Then wait quietly.
According to research on using this closing skill,
59% of customers will look at the contract,
at you,
then at the contract,
and finally sign.
The sale is taken action.
The remaining 41% of customers went through the same process
but pushed the contract back to you
and decided not to buy.
Either way, you are free to continue
to develop your sales career.
“There’s no such thing as ‘hard sell’ and ‘soft sell.’
There’s only ‘smart sell’ and ‘stupid sell.”– Leo Burnett
*************
CONNECTING THEIR DISTANCE
Sometimes a customer says,
“That price is higher than I thought.”
The most logical answer you can give is:
“Dear customer, how far apart is your ability to pay my price?
Or you say:
“Ladies and gentlemen,
what do we need to do to sign the contract today?
Please tell me the highest price you can pay
and I will tell you if we can make this sale.”
In many cases,
the price you offer is not far from the customer’s ability to pay.
The sale is at your fingertips.
But you have to know how many customers are thinking.
Usually, customers won’t pay more than they’ve set.
Your task is to find that number.
*********
Small difference
One of my students is a garden and park designer.
He was invited to submit a proposal
to a construction company
to design the landscape for a new house.
The contractor told him he wanted the lowest price.
He was desperate to get the contract
so he sat down and drafted a very tight proposal,
designed it to the contractor’s specifications
and offered a bid of $7,025.
The contractor is not satisfied.
He got angry and said,
“No way! Price is too high.
Much higher than I thought:
“He turned down the offer
and hung up the phone.
The student asked me for advice.
I advised him to call the contractor and ask:
“Sir, what is the difference
between your ability to pay and my offer?”
At break time,
he did the same,
then came back
with a bright smile.
The contractor budgeted the design for exactly $7,000.
The student offered only $25 more.
He only needed
to adjust the size of some of the plants in the proposal,
rewrite the bid,
and sign the contract the next day.
“Your satisfaction is our top priority.
So if you could act really satisfied,
that would be a big help.”– Randy Glasbergen
**********
IMPORTANCE OF PRICE?
We’ve talked about customers trying
to shorten the sale.
They often say,
“Just tell me the price
and I’ll tell you if I like this product.”
The reasonable answer is:
“Dear customer, is price the only thing you care about?
Do you decide to buy an important product
based on the lowest price alone?”
When you ask that,
all customers say “no”.
You say, “I know price is important,
but quality,
assurance,
warranties,
delivery and after-sales service are also important.
We cannot sell at the lowest price
but we can provide the best service in the market
at a fraction of the price.
How do you feel?”
Enthusiasm to ask questions
as well as the ability to ask questions about
why customers hesitate will help you open the door any way.
Being willing to invite customers
to order whenever the opportunity arises will put you
in the top 10% of the people in your field.
The art of reverse questioning
and closing are essential sales skills
that you can learn and perfect
with hard practice.
*********
Practical exercise
1. Make a list of price complaints
or objections you may encounter;
Design questions for each situation
that you can handle
when you find yourself in that situation.
2. Spread the price over the life of the product or service;
Calculate the price by date
and list the items or products with similar price?
3. Pick a client you’ve met many times
but haven’t told you yet;
Go meet them and try the skill of closing the ultimatum.
4. Identify the main benefits customers receive
when purchasing the product;
Think of ways to emphasize these benefits
whenever the customer has an objection to the price.
5. Design the introduction with the “link” ending for the product;
Write a series of “yes” questions you can ask,
from the most general to the most specific.
6. Prepare evidence to support what you say to stimulate the desire
to buy and handle objections;
Avoid overusing subjective affirmations
that are not appreciated by customers.
7. Use your creativity to find ways to deal with obstacles;
There is always a solution to the problem.
“Patience and persistence bring about miraculous effects that no barrier
or difficulty can get in the way.”-John Quincy Adams”
