Closing and Servicing the Sale: Strategies for Success

Posted on May 16, 2024 in Economy

Step 5 Presentation Plan: Close

Buyer’s Remorse

Buying often causes emotional stress, which is sometimes referred to as “buyer’s remorse.” Typical buying anxieties explaining why some customers are reluctant to commit to your proposal include:

  1. Loss of options
  2. Fear of making a mistake
  3. Social or peer pressure

Guidelines for Closing the Sale

  • Focus on dominant buying motives.
  • Achieve incremental commitments throughout the sales process, especially situations involving long selling cycles.
  • Negotiate the tough points before attempting the close.
  • Avoid surprises at the close.

Recognize Closing Clues

A closing clue is an indication, either verbal or nonverbal, that the prospect is preparing to make a buying decision. Closing clues are called “buying signals”.

Verbal Clues

  • Questions
  • Recognitions
  • Requirements

Nonverbal Clues

  • Body movement
  • Facial expression
  • Tone of voice

Methods for Closing the Sale

  • Trial close
  • Direct appeal close
  • Assumptive close
  • Multiple options close
  • Balance sheet close
  • Management close
  • Impending event close
  • Combination close

Trial Close

A trial close is a closing attempt made at an opportune time during the sales presentation to encourage the customer to reveal readiness or unwillingness to buy.

  • Also known as the minor point close.
  • A trial close may be appropriate when you are reasonably sure that the prospect is about to make a decision but is being held back by natural caution.
  • A trial close often is presented in the form of a confirmation question.

Direct Appeal Close

Involves simply asking for the order in a straightforward manner.

  • It is the most direct closing approach, and many buyers find it attractive.
  • However, the direct appeal should not, of course, come too early.

Assumptive Close

Asks for a minor decision, assuming that the customer has already decided to buy.

  • Sometimes called the take-it-for-granted close.
  • This closing approach comes near the end of the planned presentation.
  • This closing method provides a subtle way to ask for a decision when you are quite certain the customer has already decided to buy.

Steps for Using the Multiple Option Close

  1. Configure more than one product solution.
  2. Cease presenting product options when prospect has been given ample selection.
  3. Remove products (or features) prospect is not genuinely interested in and concentrate on options of interest.

Other Types of Closes

  • Summary-of-benefits close
  • Special concession close
  • Management close
  • Impending event close (positive/negative technique)
  • Combination close

Adapting to the Customer’s Communication Style

A prospect’s communication style must be taken into consideration when deciding how to adapt the close.

  • The four styles include: Supportive / Emotive / Reflective / Directive

Step 6 Presentation Plan: Servicing the Sale

Achieving Successive Sale

A successful partnering effort results in successive sales and referrals.

  • Repeat sales come after one demonstrates the ability to add value in different ways.
  • Taking the customer’s point of view and acting in the customer’s interest, often described as “customer advocacy,” is a major factor underlying repeat business

Responding to Increased Post-Sale Customer Expectations

The importance of servicing the sale relates to the fact that people buy expectations, not products. How do you respond to a customer who has increased expectations?

  1. Be certain your customer strategy is on target.
  2. Focus on follow-through and follow-up activities.
  3. Reexamine your product strategy

Causes of Customer Attrition

  1. Poor service (50–70 percent)
  2. Product dissatisfaction (12–15 percent)
  3. Price considerations (10–15 percent)

Five Important Service Behaviors B2B

  • Diligence
  • Information communication
  • Inducements
  • Empathy
  • Sportsmanship

3 Possible Outcomes When a Customer Does Business with an Organization

  • The Moment of Truth: if Expectations = Experience → Customer satisfied
  • The Moment of Misery: if Expectations > Experience → Customer dissatisfied
  • The Moment of Magic: if Expectations < Experience → Customer very satisfied (delighted)

Customer Follow-Up Adds Value

Customer follow-up has 2 objectives:

  1. Express appreciation for the purchase.
  2. Determine if the customer is satisfied with the purchase.

This strengthens the relationship and builds a partnership that results in additional sales.

Poor service and lack of follow-up after the sale are the primary reasons customers stop buying.

Follow-Up Methods

  • Personal visit
  • Telephone call
  • E-mail message
  • Letter or card
  • Call report

Forms of Expansion Selling

  1. Full-line selling (suggestion selling): sell related products
  2. Cross-selling: sell non-related products
  3. Upselling: sell better quality products

Making Recommendations for Full-Line Selling

Some guidelines for full-line selling or “suggestion selling”:

  • Plan for full-line selling during the pre-approach step.
  • Make recommendations after you have first satisfied the customer’s primary need.
  • Make your suggestions thoughtful and positive.
  • When appropriate, demonstrate the suggested item or use sales tools to build interest.

Others that Influence Partnership Building

  • Receptionist
  • Technical personnel
  • Stock clerks or receiving clerks
  • Management personnel

Addressing Unhappy Customers

  • Give customers every chance to disclose their feelings.
  • Keep in mind that it does not matter whether complaint is real or perceived.
  • Do not alibi.
  • Politely share with the customer your point of view regarding the problem’s cause.
  • Decide what action must be taken to remedy the problem.