Module Twenty-Five Overview Module Twenty-Five SEVEN KEY CLOSING TECHNIQUES and DEVELOPING REFERRALS Closing the sale-asking for action-is an important skill that needs continual development. The average salesperson attempts to close a sale only once-yet in fact, 80% of sales are closed after five closing attempts! In order to be successful, salespeople must develop their closing skills so that they have a variety of closing techniques at their fingertips. The purpose of this module is to develop your skills in closing a sale by instructing you in the use of seven excellent closing techniques. Objectives After completing this session, you will be able to: €I Explain each of the seven closing techniques. €I Give an example of how to use each one. © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 213 Module Twenty-Five Module Twenty-Five SEVEN KEY CLOSING TECHNIQUES Listening Guide A question to keep in mind: 1. What techniques can you use to close your sales more easily? Notes Key Points: 1. The average sale is closed after the ____ time you have asked for the order. 2. The Key Closing Techniques are: (1) The __________ Close - Why don't you / give it a ____ ? (2) The __________ Close - This assumes that the person has said "yes" and goes on to wrap up the details. (3) The __________ Close - The Alternative Close forces the prospect to tell you where you are by offering a choice between something and nothing. - Remember the _______ _ Principle: Show the most expensive item first. (4) The __________ Close - It is also called a ________ _ Close where you close on a minor point. © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 214 (5) The __________ Close You can use the Puppy Dog Close whenever you can give a pers.on an opportunity to try your product. (6) The __________ Close The Ben Franklin Close encourages the prospect to look at the pros and the cons. It is also called the "T Close". + (7) The __________ Close - This close uses the process of incremental commitment. 3. There are several variations of these closes, but the most important of all is __________ _ This is called the " ____________ " Method. Progress always involves risk; you can't steal second base and keep your foot on first. Frederich Wilcox © 1994 by Brian Tracy. All rights reserved. Module Twenty-Five Notes The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 215 Module Twenty-Five APPLICA TION EXERCISES Your sales will increase 40% just by ASKING for a buying decision at the end of your sales presentation. Below, choose five ways that you can close a sale for your product or service and then write them out word for word. 1. Invitational Close: 2. Assumption Close: 3. Alternative Close: 4. Secondary Close: © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 216 Module Twenty-Five 5. Puppy Dog Close (free sample, test, demonstration): 6. Ben Franklin Close (list all reasons in favor): 7. Relevant Story Close: 8. Asking for referrals: Action Commitment The one specific action that I will take as a result of what I have learned in this seSSIOn IS: © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 217 Module Twenty-Five PUTTING OUR CLOSING TECHNIQUES TO USE In this module, we were introduced to seven key closing techniques. Memorizing the techniques word for word is one thing, but using them smoothly is quite another. It takes practice. The purpose of this activity is to give you some practice in using these various closes in a relaxed atmosphere rather than having you try them on for size for the first time with a prospect. For this role play activity, your group will be divided into pairs. The role play will be conducted twice. For one round you will have the opportunity to play the part of a prospect and for the other round, you will have the opportunity to play yourself as a salesperson. The directions for the activity are below: As the salesperson: 1. Select three of the seven closing techniques that you would like to try. 2. Select a product or service to "sell" to your partner, the prospect. 3. You will have five minutes to make the sale. In doing so, you must give a very brief, abbreviated sales presentation so your partner will know what you're selling, and then you must attempt to close the sale using the three techniques you have selected. As the prospect: 1. Listen to your partner's sales presentation. Be attentive and interested. 2. Do not buy with the first or second closing. 3. If your partner has done a good job and you're truly interested by the third closing technique, then agree to buy. 4. Be prepared to give your partner some feedback on his/her performance. With the basic understanding that there was very little time to prepare: Were the closing techniques used appropriately? How did you feel as the prospect? What can you suggest to your partner that could improve his/her techniques? © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 218 Module Twenty-Five SELF -STUDY IRE VIEW 1. When should an Invitational Close be used? Give an example: 2. What's an Assumption Close? Give an example: 3. What's an Alternative Close? Give an example: 4. What's a Secondary Close? © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 219 Module Twenty-Five Give an example: 5. What's the Puppy Dog Close? 6. What's the Ben Franklin Close? How is it done: 7. What's the Order Sheet Close? How is it done? © 1994 by Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. 220 . Module Twenty-Five Overview Module Twenty-Five SEVEN KEY CLOSING TECHNIQUES and DEVELOPING REFERRALS Closing the sale-asking. Module Twenty-Five PUTTING OUR CLOSING TECHNIQUES TO USE In this module, we were introduced to seven key closing techniques. Memorizing the techniques