Showing posts with label closing sales. Show all posts
Showing posts with label closing sales. Show all posts

Friday, November 12, 2010

What To Do When You Hear, "I Want To Think About It"

Many of us have been in a scenario similar to this one. You have just given what you feel is a great presentation, and given numerous compelling reasons why someone should avail themselves of a particular service or product, and the person you are speaking to says to you, "I want to think about it."

One of the biggest errors that most presenters do at that point is "let the person off the hook," by responding that you'd like them to think about it, and you'll get back to them, or they should get back to you. In most sales- type situations, your greatest chance to "close the sale or deal" is when you are giving the presentation, because at that moment, you possess more control over the situation than at nearly any other point. How you react to their "I want to think about it" often makes all the difference.

A time-proven and effective technique is to calmly respond, "I can perfectly understand that, but what exactly is it that concerns you that you need to consider?" The next step, however, is the most crucial. Instead of anxiously continuously and trying to immediately respond, force yourself to "zip the lip" (Z.T.L.) The Z.T.L. method states that the next person to speak is in the weaker situation, and the one that keeps his lips zipped, generally ends up victorious.

Often, after a delay, the other person will respond something indistinct like, "I'm just not sure." If that, in fact, is the response, then your response should be a calm, "What may I clarify for you? What questions do you need answered?" Of course, it is then imperative to resume your Z.T.L. strategy.

Human nature, being what it is, makes this a far more difficult thing to do than it sounds like. We are all tempted to over-explain, and interrupt. Many of us fear questions, because we often lack confidence in our ability to explain an issue in detail.

Regardless of what the objection might be, one should always follow some variation of the following five steps:

(1) Repeat the objection to be sure you understand it. Say something like, "In other words, you're concerned about . . . "

(2) Then it is essential to empathize. Empathy is putting yourself in the other person's "shoes," as compared to sympathy which is feeling sorry. Never sympathize at this stage, but empathy is essential. The easiest way to do that is by stating, "I can perfectly understand the way you feel. I felt like that and most people I know felt the same way, until they realized a few things."

(3) Many people tend to try to skip this next step. You now must have listened effectively to the other person's concerns, so that you can now able to give the most compelling reasons why it should be the other person's priority.

(4) Once you've given your reasons, you must recreate the need, by stating, "In light of the reasons we've just discussed (and list them),"

(5) Finally, you must re-close the deal, by saying, "Doesn't it make sense to . . .?"

If all else fails, and you have done all the above steps, there is one additional thing to attempt. Calmly ask, "May I make a suggestion?" Again, Z.T.L., and Make a compelling, yet brief restatement of your case.

These are easy techniques to follow, but like all other things, requires practice and confidence, and then, finally, doing it.

Thursday, October 14, 2010

You Will Never Close The Deal Unless You Ask

Everything we do in life involves the sale of either a product or a service. While many professionals often cringe at agreeing with that premise, the reality is that in some manner or other, each of us need to sell either ourselves, or someone else, on either an idea, a service or a product.

Having trained salesman and marketers, as well as their managers, for over three decades, I have observed innumerable individuals who never achieve the results that others, who often appear to have less talents or abilities, end up with. Many marketers and salespersons make the mistake of painstakingly preparing and rehearsing their presentations (or "shpiels"), and often give a technically near-perfect presentation. However, often others with lesser presentations end up with far superior results.

The main reason for this often is something that is referred to as "closing," or "the close," or "the ask." When someone does not ask the person he is presenting to for some sort of commitment or agreement, he rarely will get it volunteered. Effective and productive presenters realize that one must ask something like, "Doesn't it make sense?" and wait quietly for a response before proceeding.

When these same people role play, or rehearse their technique, they nearly always do close. Then why don't they when the real opportunity comes up? At one point, I over-analyzed this situation nearly to death. I "bought into" all the philosophical "mumble-jumble" that is given by those without true experience or expertise, who have simply read or heard something somewhere. However, over time, I have come to a very simple reason why closing is not done in real-time situations. Many individuals have difficulty going outside their own personal comfort zones, to ask for the "sale" or "deal" or "agreement." When one does not ask, they almost never get to the "deal" stage.

The same is true in negotiations. I have conducted hundreds of negotiations in the last three decades. One only has a chance of getting any type of adjustment or concession during a negotiation if you ask openly for what you want.

Therefore, it is important that each of us understand that it is not the presentation that counts, as much as the "close." If you really want something, you must ask!

Wednesday, September 29, 2010

If All Else Fails, Make A Suggestion

You've attempted everything you know to convince someone. You have utilized and employed every technique and methodology to try to make your point in a convincing, winning way. You have used the "Five Steps" method of answering objections, and been effectively listening to the other party. Yet, you still are unable to "close the deal." What should you do next?

The typical reaction is that most individuals simply give up their efforts, figuring that they have done everything they could, and still not succeeded. However, in most cases, they probably have not. When you've tried everything you know, and retried in the proper manner, and still do not get the reaction you are looking for, and desire, yet you are convinced that your point is well considered, thought out, and the correct approach, there still is one additional technique to employ. At this stage, you should simply say, "May I make a suggestion?" Once you say that, it is essential that you stop speaking.

While many individuals find it relatively simple to decline an offer, or at the very least, either procrastinate, delay, or stall, almost no one will respond negatively when you ask that question. However, this technique will only be effective if you steadfastly obey the "ZTL" method. "ZTL," or "zip the lip" means that you say nothing until the other individual responds. The basic rule of this philosophy is that whoever speaks first after a question, loses this part of the "game."

Once you get an affirmative response to, "May I make a suggestion?" which you will, even if the other party doesn't want you to, is that you must take advantage of the opportunity. The best method is to begin to ask probing questions, like, "I am a little confused because most people I've explained this to decide to pursue it further. What exactly is it about this idea that keeps you from acting?"

Once you say that, once again employ "ZTL" and wait for an answer. Listen intently, and respond to the individuals concerns. Often a stumbling block is that people tell you that "I want to think about it," which really, in most cases, is little more than either a delaying tactic, or a pleasant way to say no. Answer each and every question and concern concisely and precisely, in a calm and patient manner. It is important to eventually re-close on an action regarding the concept or idea. In my three decades of training, I have witnessed some fabulous presentations that did not achieve the desired result simply because the presenter did not close and re-close. Your final suggestion is the "sample order" approach, recommending an individual try something in a very limited manner for a specific period, and if it is not everything you say, then terminating the relationship. You must, however, always be open and honest in your presentation, or you will never have a satisfactory relationship in this situation.

Monday, September 20, 2010

Objections: Answering in 5 Steps

In nearly every situation, when people get into a discussion, there are bound to be certain questions or objections. How one handles the situation, and responds to objections, often determines whether one accomplishes his desired results. It is important to understand that all objections fall into two categories, either (1) technical; or (2) emotional. If the initial presentation has been properly presented, the vast majority of objections are emotional. The main technical objection is usually financial, while it takes a finer "ear" to properly understand what each emotional objection might be.

The same five steps are used in all situations. The finesse comes with being comfortable with the concept, listening, and believing in these steps. All major sales and marketing organization teaches this to some degree. The five steps are:

(1) Restate the objection--- This is essential so that you are answering the true objection, and not opening up a Pandora's Box by addressing something that is not the objector's concern. An easy way to do this is to say something like, "So you're concerned about... " (Understand the concern may be about a guarantee, reliability, time commitment, ability, etc., but it is essential that you ask, and get a response and acknowledgment from the objector). Also remember the very important "ZTL" rule - - - "zip the lip." Do not speak until the other person answers your question, and if you are not sure of the meaning of the answer, ask again until you are! The ZTL rule says that the first person to answer "loses."

(2) Empathize (Don't sympathize). This can be simply done by saying something similar to, "I can perfectly understand how you feel, in fact I felt the same way, until i realized and understood a few things..."

(3) Answer the objection-- Calmly, conversationally, fully answer the objection...

(4) Restate the proposal - - - "So in light of this information, and in light of the fact that you've told me that you... "

(5) Re-close - - - "Doesn't it make sense to...?" Then ZTL! I repeat, under no circumstances speak. You must let the other person, agree, say maybe, or give another objection. If they now give another objection, repeat the 5 steps! Keep doing this!

Then, if you believe you have done this long enough--- and after a minimum of 3 times using the 5 steps, there is one more "fall-back" position - - - Say, "May I make a suggestion?" Then, again, zip the lip. Wait-- force yourself --- it almost never occurs that someone will say NO to making a suggestion while they may say "No," eventually to the suggestion, however. It is very important that you get the other person into that "nodding--yessing" mode, because this can be a great lead in (or "trial close") to eventually overcoming the objection, and acquiring a commitment.

I want to stress that this works. I have used it hundreds and hundreds of times in numerous industries, organizations, charities, and personal situations. I have taught thousands how to effectively use these techniques. It initially takes some coaching, and then some practice, but once someone has perfected this technique, their "closing ratio" improves incredibly!