"The Closing Act" or "The Sales Emperor has no close"

How effectively do you close the sale? Is it the best part of your sales performance or are you hiding the naked truth that the sale is still pending or worse, lost? The following article presents some of the basics of effectively closing the sale.

Does this sound familiar?

"It was a great meeting, I presented every concept as we prepared and planned them. I know we hit the hot buttons. They asked a lot of questions, expressed some concerns, noted how we'd listened to their needs and understood their business. At several points we had every head nodding. The decision maker did say that the timing was right but he doesn't want to commit the budget to an incentive program. I had this one pegged as 98% sold, now I don't know."

And so it remains, 98% sold-no closure, no sale.

Closing is one of the most important selling skills. There are hundreds of tips, tricks and proven strategies for effectively closing the sale. The following are some of the basics:

Objections
To successfully close a sale you must be an effective listener. What you may hear after a sales presentation is a "no," "not yet," "soon ,but not now." What you may fail to hear are the real closing signals. Did you hear a "no" or a "qualified no?" Did the client state objections? Objections really reflect a client's interest. You may have effectively sold the client, however objections are his/her way of backing out of the sale. According to a study presented by Incentive Magazine, the following are three of the most common objections to an incentive program:

• Incentive programs are too expensive for the limited effect

• Inability to prove return on investment (ROI)

• ncentive programs are too difficult to administer

You should go into every selling situation prepared to respond to these objections (PFI can work with you to prepare responses and provide incentive program rationale). In short, objections are not rejections. However, they should not lead to a delay. Objection time is selling time.

Make It Personal
Involve your client in the selling process, in retail this means a test drive or trying something on. When selling a service it's more subtle. Here are a few suggestions:

• Don't refer to "the program," refer to "her/his program."

• Do your research ahead and use examples, anecdotes and success stories that relate to your client, her company or the industry.

• Give the client "ownership in the program." For example: "Your belief that supervisors should be included will really add fuel to the motivational fire of this program."

• Listen for signs of client ownership like when he refers to "our program," or when she makes a statement like "when we launch."

Remember, people buy what they can relate to or feel personal about.

Use questions
Effective use of questions will often solidify or even make the sale.

• What information have I failed to provide?

• What do you lose in incremental sales every day you don't have a program in place?

• How many customers do you lose to your competitors who are offering incentives

Make Price a Non-Issue
The cost of running an incentive program need not be a deal killer.

• If we could come to an agreement on a financial analysis that reflects a XX% ROI, would you hesitate to run a program?

• Show the budget as a percent of each incremental dollar

• Show the average cost per participant

• Show fixed costs as a percent of incremental revenue

Assume The Sale
Rather than referring to "when" the program is sold, speak as if it "is" sold. Here are some examples:

• "Should you choose to launch the program in January," becomes-"when you launch the program."

• The list of participants could include" becomes-the list of participants will be decided early in the process…"

• "Elements we recommend you include" becomes-"as we finalize your program content."

In addition to assuming the sale through your words, you should also present a planning schedule that outlines a program timeline beginning with the sale on the date of your presentation. You should also engage the client in discussing time when you think you'll be able to schedule meetings to present program updates.

Be Enthusiastic
This may seem obvious but research shows that enthusiasm sells. Enthusiasm is interpreted as confidence and demonstrates your belief in the products and services you represent better than words. Enthusiasm alone may not close the sale but when all things are equal or the decision maker is "on the line" it will make all the difference.

Don't Ignore Influencers
Everyone knows it's important to know who makes the decision. This is the individual you sell to right? Yes, but a qualified yes. You should be careful not to ignore others in your presentation or meeting who "influence" the decision maker. You may tailor specific points and responses to hit the hot buttons of the key decision maker, however you should still present to and acknowledge other people in the room or at the table. Ignore no one.

In Closing . . .
Closing is an art form, a skill and a personal style. You need to find one that fits you and properly addresses the situation. You may consider yourself the king of sales but don't go parading around the marketplace without the right close. For more in-depth information and techniques about closing the sale you may want to check out the following books:

Sales Closings For Dummies by Tom Hopkins; Publisher; IDG books Worldwide Secrets of Closing The Sale, by Zig Zigler, Publisher; Fleming H. Revell Closing Techniques, 2nd Edition by Stephan Schiffman, Publisher, Adams Media Corp.