Handling+Close com

8/4/2019 Handling+Close com

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The Selling Process

Objections and Closing the SaleL8

Prepared by: Brian Rutherford


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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

Ne

eds

Id

entifying

Ne

eds


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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 greetsthe 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 prospect loses 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 wrong type 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 theyshould be put off

If the objections is not answered immediately, the prospect may hear little of

what else is said



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Types of Objections What do objections pertain to

Real vs. hidden

The stall

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 the productprovides the benefits necessary and is worth the price

Hidden objections- when the object is not clearly state due to theprospect not wanting to clearly state it

Usually the prospect will not purchase the product until the hiddenobjections 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

I need to measure

The computer doesnt have enough memory

(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 assumption that the objection isdue 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 not solve theproblem

The salesperson should show the true economic value of the product(show that the benefits outweigh the costs)



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Handling Objections Handling Objections

Step One- Listen carefully, sincerely, with undivided attention

Step Two- Repeat the objection back, in a slightly different form

Step Three- Provide new evidence or information without offending theprospect

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



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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 or Many peoplehave the same question

Covert the initial statement or objection to a question

Salesperson: The question here is whether or not our products benefitsare worth the additional costs, isnt that correct?

If the prospect agrees, then the question can be answered

If the prospect do not agree, then have the prospect restate the question



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Handling Objections

Use Third-Party Stories

Show that other people in a similar position have felt the same 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 a reasonwhy the prospect should buy

(Source: Hite and

Johnston)

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 the objection?

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 breakfast cereal-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 afavorable 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 close

Negative close

Special concession close(Source: Hite and Johnston)


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Direct Close- Asks for the sale Should not be used with

insecure prospects

Timid prospects Indecisive prospects



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Assumptive Close-three types 1) Fatal alternative-series of relatively minor choices that ultimately lead

to the decision to buy

2) Open-ended question- assumes the prospect is ready to buy Would you like me to deliver this unit?

3) Action close-the salesperson may simply write up the order



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Summative Close- summing up the benefits and recapitulating the

points of agreement-thereby encouraging the prospect to make the

decision(Source: Hite and Johnston)


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Demonstration Close- demonstrating the product or equipment in

actual use can be very effective Most effective with the cautious, deliberate type of prospect



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Negative Close- Normally used as a last resort Product shortage

Price increases will follow

Used on procrastinators or people who want 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



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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



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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?

(Huisken)

7) If you take it today I will give a surge proctor at no charge, but that is only for today


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Advance Topics in PersonalSelling

After the sale

Adding-on

Saving the Sale (The Turnover)

Other forms of closing the sale


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