Chapter 4

Closing the Sale

OBJECTIVES

This chapter aims to:

Better understand Closing the sale concept

Be more knowledgeable in closing the sales techniques, general

rules, as well as its specialized methods

Be aware in qualifications for a successful sales career.

Know the different mental characteristics of sales people

Enumerate the famous five (5) P’s of successful selling

Understand the different manners that a salesman ought to

observe

CLOSING CONCEPTS AND TECHNIQUES

Closing the sale

is obtaining an agreement to buy from the customer. all effort up to this step of the sale (pre-approach, product presentation and handling objections) have involved helping your customer make buying decisions.

Timing the close

is when some customers are ready to buy sooner than others therefore, must be flexible. You may show a customer a product and almost immediately detect an opportunity to close the sale. Other times, you may spend an hour with a customer and still find that he or she is having difficulty making a decision.

Buying Signals

is when attempting to close a sale, look for buying signal, the things customers do or say indicate a readiness to buy. Buying signals include facial expressions, body language and comments.

Trial Close

is when you attempt a trial close to test the readiness of a customer and your interpretation of a positive buying signal. A trial close is an initial effort to close a sale.

Even if the trial close does not work, you will lean form the attempt. The customer will most likely tell you why he or she is not ready to buy. While if the trial close will work, you will reach more likely your goal of closing a sale. In both cases, you are in an excellent position to continue with the sales process.

GENERAL RULES FOR CLOSING THE SALE

Recognizing Closing Opportunities

Help customer make a decision

Create an Ownership Mentality

Do Not Talk Too Much and Do Not Rush

SPECIALIZED METHODS FOR CLOSING THE SALE

Which Close

Standing Room-only Close

Direct Close

Service close

THE SERVICE CLOSE IN BUSINESS-TO-BUSINESS SITUATIONS

In an industrial selling situation, the sales representative would talk about the items of the sale, discussing points such as which payment is expected. For example, payment could be due 30 or 60 days after the date of the invoice.

 THE SERVICE CLOSE IN RETAIL

In a retail selling situation, the use of credit and checks, as well as special buying plans, can be suggested. When a customer questions the quality of the merchandise, perhaps you can explain that a warranty or guarantee is offered on the product.

 THE SERVICE CLOSE IN RETAIL

When your business offers the same quality merchandise at the same price as your competitors, your service may be the only factor that effects the buying decision.

Failure to close the sale

Do not assume that every sales presentation should result in a sale. Research suggests that perseverance is the way to succeed. In retail setting, invite the customer to shop in your store again. In a business-to-business selling situation, ask if you may call again. in Business-to-business selling, the selling is rarely closed on the first call. Salespeople may negative with large accounts for over a year before a year before closing the sale. Also remember that every sales contact has the potential to become a successful sale in the future.

Maintain a Positive Attitude

The attitude of the sales person who has not made the sales should be no different than that of the successful salesperson. It is very important to the salesperson to smile and be friendly even after failing to make a sale. In business- to-business selling situation, it is not uncommon for a buyer to be convinced by a sales presentation, but in reality is not ready to buy yet.

Preparing for future Calls

If you clearly sense an impending turn down, it is better to make a graceful exit, leaving the door open for a future sales call. Some businesses send questionnaires or call customers to check on how well they were treated by the sales and service staff. The result of these surveys is passed on to salespeople so they can improve their sales techniques.

Success in Sales

One popular misconception about selling is that salespersons are born, not made. It is true that effective salespeople posses certain behavioral characteristics such as confidence, problem-solving ability, honesty and has the desire to be helpful .However, success in selling is the result of training, apprenticeship and experience. Learning one's products and how to handle various situations comes with experience and hard work.

QUALIFICATIONS FOR A SUCCESSFUL SALES CAREER

1. Education2. Personal Characteristics3. Personality Factors such as persistence and the

ability to withstand rejection appear to be positively related to successful selling.

4. Work habits and experience.

MENTAL CHARACTERISTICS OF SALES PEOPLE

MENTAL CHARACTERISTICS OF SALES PEOPLE

According to the book of Beach and Buskirk entitled Textbook of Salesmanship 8th edition/International Student Edition that in evaluating people, we identify the differences in mental characteristics as they apply to selling. Let us consider first the following mental characteristics.

MENTAL CHARACTERISTICS OF SALES PEOPLE

Honesty

The mental characteristics with great emphasis on the morals comes number one in the list. Being honest with yourself, your employer and the customer is very important to any business concern, whether in selling or some other occupation.

Responsibility

It has to do with carrying out promises made and seeing a job through. The glib-tongued peddler is always tempted to make promise in order to make a sale and then forget about them. A sales representative has the responsibility of properly caring for the selling aids provided by the company, such as expensive manuals, catalogs, bulletins, samples and selling paraphernalia.

Courage

It is the mental and moral force that causes one to face danger, fear or difficulty. The sales representative must possess courage than any other type of employees because his work caters to influencing and contacting others people, whose likes and dislike are unknown to him. Many men and women are discouraged to enter the field of selling because they lack the necessary courage that is required of successful sales representatives.

LoyaltyIt is an attribute based upon trust and

confidence to one's employee, fellow employees, and the company. Loyalty must not be overlooked by any sales representative in dealing with his fellow salesmen as well with his superiors. Employees who work well with his associates minimize friction as it might cause conflict in a business organization. One might even ask the question, how can the company detect if the applicant for a sales position possesses this particular quality? By reviewing the applicant's past work history or employment record will bring out such information.

Resourcefulness

A salesman is resourceful if he has the ability to handle new situations and unexpected difficulties.

Confidence

It means having faith or trust in one's action or endeavors. at the very outset, the company should provide the salesman necessary information related to the product or service and also everything about the company.

Imagination

It is the power to form mental images of things that are not before him. Salespeople are learning to describe or give a vivid picture of the things they are selling. With a good description of the product coupled with an effective sales presentation, the prospect will be induced to buy the product even without intention of buying one.

Showmanship

It is the skillful or the creative way of imagining things based upon past experience that are sometimes necessary in selling.

 Ambition

It is the desire to attain one's goal, to prove one's worth in society, to do something worthwhile, and to realize our dreams. In the life of a sales representative, ambition may help him to outshine others, to produce more sales for the company eventually making him the "star" salesman, who generates more business for the company Ambition must have its limitations. Some sales representatives are attempts to earn large commissions use unethical practices which in the long run will never pay. Ambition as a rule must be coupled with honesty.

  Adaptability

Adjusting to different situations that the environment calls for is known as adaptability. A salesman must be flexible. he must adapt himself or fit himself to any type of surroundings without much difficulty. A salesman has to "sway with the wind" in order to stay on his feet, so to speak, and let not the unexpected disturb him.

  Industry

Diligence in an employment or pursuit is often termed as industry. Industrious sales people spend time wisely. They do not like to roam around without accomplishing anything. They use every opportunity to its fullest advantages for himself and for his company sales people believe in the saying "Time is Gold" for they value time more than anything else.

  Observation

It is full recognition and notation of facts and occurrences it is necessary for salespeople to have a keen appreciation of the value of observing things that go on around him. Alertness and attentiveness are characteristics that salespeople ought to have for they are important qualities of a salesman.

 Enthusiasm

It is strong feeling of excitement. Enthusiasm is the fiery spirit that makes the salesman enjoy his work, it is the enthusiastic attitude of the salesman toward their products that convinces them to buy salesman, who appear to be bored in their jobs, show no interest in their customers or the products that they are selling do not make a sale.

 Enthusiasm

Enthusiasm is based on belief. We cannot be enthusiastic about our goods in which we do not believe. Having a thorough knowledge of the product is the foundation of salesmen's enthusiasm. According to Kahlil Gibran, "Enthusiasm is a volcano on whose top never grows the grass of hesitation."

 Courtesy

This virtue is related to respect and consideration of others. Although. We believe that consumers are entitled to courteous treatment all too often they do not get them. Salesmen must not forget that consumers are the "King" and for being the "King" they hold the key to success of the salesman. Consumers are easily "turned-off" buying; they just walk away or turn the salesman away, thus making no sale at all.

 

Tact

It is the diplomatic way of saying or doing the right thing at the right time. A tactful person avoids having enemies, he would rather win friends. Tact means the proper handling of an onion-skinned consumer so that he will be happy and enjoy buying. On the other hand, if the sales representative is insensitive he may not be able to understand the feelings of the consumer and becomes tactless.

 

Dominance

It is not an attitude of "lording it " over other people of controlling other a person’s right but rather the sales representative's ability to make the customers regard him as the authority. He can only be regarded as an authority if he is very much knowledgeable about product information.

ProductPersonality

PerseveranceProspect

Picturesque Presentation

FAMOUS FIVE P'S OF SUCCESSFUL SELLING

MANNERS THAT A SALESMAN OUGHT TO OBSERVE

1. Look pleasant and neat2. Wear simple clothes3. Good voice and diction4. Have a firm handshake5. Avoid Tapping the desk with the fingers or a pencil6. Buttoning and unbuttoning7. Avoid the repetitions of such phrases 8. Remember the names and surnames9. Do not argue with the customer10.Avoid stepping on sentences 11.Keep your promises12.Smile13.Keep physically fit

A. Wearing clothes that are in good repair. B. Wearing clothes that are clean and well pressed

C. Wearing clothes that are conservative and importance

Being well dressed requires:

According to J.W Wingate, Fundamentals of Selling, a salesman must observe the following principle:

Speak distinctlySpeak with moderate SpeedSpeak reasonable loudEmphasize key words and phrasesVary the pitchSpeak in a conventional toneSpeak sincerely

TEN COMMANDMENTS OF SELLING

1. Speak people. There is nothing as nice as a cheerful word of greeting.2. Smile at people. It takes 72 muscles to frown, only 14 to smile.3. Call people by name. The sweetest music to anyone's ear is the sound of his or her name.4. Be friendly and helpful. If you would have friends, be friendly.5. Be Cordial. Speak and act as if everything you do is genuine pleasure.

TEN COMMANDMENTS OF SELLING

6. Be genuinely interested in people. You can like almost anyone if you try.7. Be generous with praise. Be cautious with criticism8. Be considerate of the feelings of others. It will be appreciated9. Be thoughtful of the opinions of others. There are usually three sides to a controversy yours, the other person's and the right one.10. Be alert to give service. What counts most in life is what we do for others. Add to this a good sense of humor and a dash of humility.

Thank You!!!