The 7 Most Important Words in Closing
Whether you are a salesperson, sales manager or business owner, your number one goal is to close sales. Everything that we do up to that point is all just set-up and preparation, yet so many of us fail when it comes to this final step.
In actuality, we fail approximately 75% of time. An industry average closing ratio is 18%. But I’ll round it up to 25%. This means if 25% percent of our Customers buy, and 75% do not. We fail 75% of the time.
Closing is asking for the sale and can only be done once you have earned the right to do so. Why would you ever want to ask for the sale if all the value of your product has not been presented? Ironically, in our industry we teach some closing techniques that just do not make sense.
Waiting for a prospect to say “I’ll buy it” is not selling nor is it closing. It just opens the door to get responses that you don’t want to hear. Responses such as, “Is that your best price,” “How much are you giving me for my trade” and the worst one of all, “I’m gonna think about it.”
There is only one thing you want the Customer to say, and that is “I’ll take it”. But most aren’t going to. Partly because we don’t ask them to.
No matter what you are selling. If you’re a salesperson and have earned the right to do so, no one will be offended when you ask a closing question. If you’re the Sales Manager and you’re coming in for the close and the Salesperson has made the proper presentation, most customers expect to be asked for the sale. So, why not just do it?
The seven most important words in closing are: “Which payment option works best for you?”
It is a simple, non-pressure, direct question and one that is expected. You’ve taken the time making the presentation, taken the time putting the figures together and now you have to take the time to ask the Customer, “Which payment option works best for you?”
That’s it, seven easy words.
Now…Do you know what’s so awesome about these words? Some people will actually pick a payment option.
I promise you, if you ask everyone from today forward after presenting numbers, “Which payment option works best for you,” some will come right out and pick a payment. The cash buyers? Some will point to the cash balance on the write back and other cash buyers will pick a monthly payment.
And for those that don’t’?, They’re going to have an objection that you’ve got to find.
Which payment option works best for you?
We all know there is one thing we all forget to do some times, and that is ask for the sale. But if you develop the habit today of simply asking people, “Which payment option works best for you,” and ask it every single time you present figures. You’ll never forget to do it. I’m Tommy Ady and if you liked this video then please hit the like button, join my Facebook page and I hope to see you at one of my conferences.