handling and close sale

7/30/2019 Handling and Close Sale

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The Selling Process

Objections and Closing the Sale


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Objectives Objections

Why objections

Types of objections Handling objections

Closing the Sale When to close the sale

How to close the sale

Problems with closing the sale


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The Sales ProcessProspecting/ Qualifying

Preapproach/ Planning

Presentation

Handling Objections

Closing the Sale

Approach

Follow up

Id

entifying

Needs

Id

entifying

Needs


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Introduction Many objections should be anticipated,

raised, and answered by the salesperson

The closing of the sale starts from the

moment the salesperson greets the prospect

(Source: Hite and Johnston)


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Introduction When closing or answering objections, the chance

of losing the sale is the greatest.

Conflict can create a situation where no one wins

When the salesperson loses the sales the prospectloses the potential benefits from owning the

product or service



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Definition Objection- opposition or resistance to

information or a request

Closing- step in the selling process in which

the salesperson helps the prospect make a

decision about the product to conclude the

sale

(Source: Futrell)


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Introduction

What is an objection and how do

you handle the objection?


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Objections

Why objections

Types of objections

Handling objections


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Why objections? Why objections?

Prospect may be afraid of purchasing the wrongtype of product

The salesperson should welcome objections

The most difficult prospect to handle is one who says

no and gives no reason

Objections should not be taken personally



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Why objections? Anticipating Objections

The salesperson should anticipating objections

Objections should never be ignored

Most of the time they should be answered immediately, but

occasionally they should be put off

If the objections is not answered immediately, the prospectmay hear little of what else is said



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Types of Objections

What do objections pertain to

Real vs. hidden

The stall( Pause)

The specific objection

The price objection


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Types of Objections Real objection- tangible

With a real objection, the salesperson can show that theproduct provides the benefits necessary and is worth theprice i.e internet speed

Hidden objections- when the object is not clearly state due

to the prospect not wanting to clearly state it. i.e about anyhidden charges

Usually the prospect will not purchase the product until

the hidden objections have been handled.(Source: Futrell)


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Types of Objections

The Stall

1) Ill be back

2) I need to think it over

3) I need to bring my spouse

Care needs to be taken because a stall could be a

specific objection

(Source: Huisken 173-174)


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Types of Objections The Specific objection- Prospect telling

you certain information that they are

concerned with I am not sure about the color of b-phone

I need to measure the speed of internet

The Mobile doesnt have extended memory Mobile does not support GPRS.

(Source: Huisken174)


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Types of Objections

What do objections pertain to

1) Price (discussed below)

2) Product

3) Timing

4) Source

5) Service

6) Need



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Types of Objections

The Price Objection

An objection to price is one of two issues

1) Value

2) Budget

Many sales and profits are lost to the assumptionthat the objection is due to value as opposed to

budget

(Source: Huisken)


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Types of Objections

The Price Objection

The price objection is often used in place of the real

objection

The prospect may be saying, You havent sold me

If a salesperson reduces the price, this may or may notsolve the problem

The salesperson should show the true economic value ofthe service/product (show that the benefits outweigh thecosts)


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Handling Objections

Handling Objections

Step One- Listen carefully, sincerely, with undividedattention

Step Two- Repeat the objection back, in a slightlydifferent form

Step Three- Provide new evidence or informationwithout offending the prospect

Step Four- Answer the objection 1) convert the objection into a question

2) Use testimonials or third-party experiences

3) Use boomerang or positive conversion techniques

4) Use comparisons(Source: Hite and Johnston)


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Handling Objections

Convert the Objection

Prospect:Your price is too high

Covert the statement to a question

Salesperson:You have brought up a good question orMany people have the same question

Covert the initial statement or objection to a question

Salesperson:The question here is whether or not ourproducts benefits are worth the additional costs, isnt thatcorrect?

If the prospect agrees, then the question can be answered

If the prospect do not agree, then have the prospect restate the question(Source: Hite and Johnston)


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Handling Objections

Use Third-Party Stories

Show that other people in a similar position have felt thesame way

Allow how they felt their solution (your product or

service) was the best

Use testimonial



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The Boomerang/Positive Conversion

Convert the prospects objection into areason why the prospect should buy


Handling Objections


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Use Comparisons

Best used when the prospect brings other

products up

Let the prospect draw conclusions


Handling Objections


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What type of objection is this and how would you handle theobjection?

1) I dont think it is worth what you are asking

2) I dont like the color

3)I am not ready to make a decision

4) You did not deliver our last order when you promised

5) I dont need to take on another brand of mobile services-

we have plenty now 6) I thought the price of this was too high

7) It is really more than we wanted to spend

Handling Objections


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Closing the Sale

When do you try to close the sale?


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Closing the Sale (Introduction)

Viewed as part of the total selling process that will

naturally occur if the salesperson meets the desires

of the prospect

Close- a question or action by the salesperson

intended to evoke a favorable decision from the

prospect



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Closing the Sale (Introduction)

When to close the sale

How to close the sale



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When to close the Sale

When to close the Sale

Salespeople need to learn to recognize the clues when

they occur

1) Facial Expression

2) Physical Actions

3) Verbal Comments



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How to Close the Sale


Direct close Assumptive close

Summative close

Demonstration closeNegative close

Special concession close(Source: Hite and Johnston)


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Direct Close- Asks for the sale

Should not be used with insecure ( lacking confidence) prospects

Timid ( shy/ nerves) prospects

Indecisive ( hesitant/ unsure) prospects



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Assumptive Close-three types

1) Fatal (deadly) alternative-series of

relatively minor choices that ultimatelylead to the decision to buy

2) Open-ended question- assumes the

prospect is ready to buy Would you like me to deliver this Value able

service for you/your organisation/unit?

3) Action close-the salesperson may

simply write up the order


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Summative Close- summing up

the benefits and repeating thepoints of agreement-thereby

encouraging the prospect to

make the decision



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Demonstration Close- demonstrating

the product or service in actual usecan be very effective

Most effective with the cautious

( careful/alert) , deliberate ( calculated)type of prospect



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Negative Close- Normally used as a

last resort (alternate)

Product shortage

Price increases will follow

Used on procrastinators or people whowant to think it over indefinitely(Source: Hite and Johnston)


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Special Concession Close- offering a price concession

some additional piece of merchandise either

free or at X off the price Additional case free for every x amount bought

Can cause problems with repeat buyers

Prospects may feel undue pressure

Best used on procrastinators(Source: Hite and Johnston)


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Problems with Closing the Sale

1) Problems with the Prospect

2) Problems with the Salesperson


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Problems with the Prospect

Prospects may be afraid to buy

Industrial buyers often face greater risks that than the seller Industrial buyer must consider:

1) Judge the supplier in terms of reliability, capability, and value

2) Companies budget

3) Goals of the firm 4) Capabilities of the equipment being considered

5) Complying with regulations

6) The buyers personal reputation as an effective purchaser(Source: Hite and Johnston)


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Problems with the Salesperson

1) Fear of rejection

2) Wrong attitude

3) Talking too much

4) Inadequate presentation 5) Improper prospecting



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Closing the Sale

Which type of closing technique is this and when is it most appropriate?

1) Shall I drop off a case tomorrow?

2) When would you like me to deliver this unit?

3)This is the last one we have in stock

4) This is a limited time offer

5)So what do you think, would you like to go ahead with the purchase?

6) This home has a two-car garage, fenced yard, three bedrooms, is in

the school district you wanted, and in the price range you are looking

for. Should we make an offer?

7) If you take it today I will give a surge (rush) proctor at no charge, but

that is only for today


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Advance Topics in Personal Selling

After the sale

Adding-on

Saving the Sale (The Turnover)

Other forms of closing the sale


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