Quiz: Which Closing Technique Is Best?

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  1

  ndlicht1

  09/24/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Gambit? Only if you can be sure it will lead to a close or raise any new objections.
  
  The question might be more like " Summing up as in Ben Franklyn close and then so since youv'e agreed that these benefits are worth the investment, since there is nothing standing between us, lets draw up the purchase agreement"
  
  Its not a gambit then because it reminds why this makes sense and closes. Yes an objection may surface but it will not be a smoke screen, it will be a legitimate concern that was not addressed. That lets you work that through and then again, close

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  2

  taclark

  09/24/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Nice article. I despise trick closes...Back in my years in
  retail (I won't name any companies...) we were pounded to
  death on different closes. That might have a small part to do
  with why I hate trick closes so much.
  
  In B2B and high value sales, simply asking for the business is
  the only professional way to close (IMO).
  
  We've given alternatives to customers before, but only those
  who have already agreed to do business with us. IE, free
  financing or a discount for paying up front.

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  3

  bobchaif

  09/24/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Good one. My comments below are global and not in reference to your set up.
  Is it me or is it an accident that most closing issues start with:
  It is the end of the .(Quota Period).. and you are behind on quota...
  
  Honestly, does anyone really believe that a situation that starts with my personal needs will end up being about the customers needs.
  
  

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  4

  pc4media

  09/24/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  In this scenario, the Gambit would be very risky and actually come off salesy. If the prospect wants to get off of the phone, it means they probably are not ready to buy. And by asking them to buy, the salesperson is showing that they care about the sale more than solving the prospect's problems.
  
  Therefore, the only thing I'd try to accomplish on this call would be to determine what objections they have. That's why I voted for the reverse close.
  
  I also would bring out the puppy dog close. But, since I sell a SaaS solution, and use the trial as a way to get more information about the prospect's needs and goals, it's actually part of the qualification and solution design process.
  
  I'm wondering whether people use the gambit close because they're afraid of asking more difficult questions?
  
  People who think these "trick" closes are deceitful or actually "tricky" should get over it and realize that they should be willing to do whatever to get people to take action and fix their problems.
  
  Any of these techniques are a means to a virtuous end of helping someone, assuming they ultimately decide to buy.
  
  

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  5

  globalfabllc

  09/24/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  I am so glad there is a page 2 in this posting. When I was reading the first page of "closes" I was thinking "Oh no! These people want to encourage the use of these lame assumptive closes?!!" As stated, these days if you are trying to close assuming that customers are stupid, you probably aren't making your numbers. In most cases your customers have been exposed to 2 - 10 sales attempts a day not counting rod signs, commercial radio and TV AND the internet pop-ups. You trying to be silky smooth with your smarmy mid 70's sales genius will probably do more to kill the deal than close it. That said, in my experience there are still a lot of retailers pushing the tired, old and insulting sales pitches - the equivalent to pickup lines in bars. "Did it hurt?", "Did what hurt?", "When you fell from heaven?" SHOOT ME NOW!!!! Healthcare Reform? There are more urgent matters like Sales Pitch Reform!!!

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  6

  Geoffrey James, Sales Machine

  09/24/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 4:
  Guess I didn't make it clear enough that this was an in-person meeting. Thought the photo would imply that. I agree that closing on the phone under those circumstances would be unwise.
  

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  7

  saar22

  09/24/09 | Report as spam

  I prefer the Gambit

  although #1 is a nice way too.
  
  Fashion games
  Shooting games
  Sudiku

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  8

  gordy73

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  People use the "gambit" close because their time is valuable... Of course this scenario was worst case. I would not schedule an appointment knowing that they just want to go home, however if this was the case when I got there I certainly wouldn't try to play mind games to get the sale. If you have gone through the process correctly and the answer is going to be no, then get it over with and move on to where your time will be better used. Parlor games and bait and switch tactics might get you a sale or two, but they will produce no refferals and probably get you branded as a snake oil salesman.

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  9

  Geoffrey James, Sales Machine

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 8:
  Some true wisdom from the gordster. Thanks!

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  10

  pc4media

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  re 8: I bet you that more salespeople use the Gambit close because they're afraid to ask tough questions. Most salespeople start presenting solutions before they understand their prospect's problems, before they've confirmed that their prospect wants help and before they've determined that they're qualified to help them and the prospect is qualified to be helped.
  
  For most sales reps, asking "Are we ready to move to the next step?" is like crossing their fingers and throwing a Hail Mary.
  

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  11

  JacquesWerth

  09/25/09 | Report as spam

  Are any of the suggested closes the Best?

  The best time to close is at the beginning of the meeting, not at the end. A request for a mutual conditional commitment, if accepted, will be honored by about 95% of all prospects.
  
  According to our statistics, the one that works best is simply: "If I can meet your conditions of satisfaction, what will you do." The prospect is required to create the close and very few people kill their own creations.
  
  When prospects will not make a commitment, temporarily disqualify them. And, spend your time with prospects that will.

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  12

  Geoffrey James, Sales Machine

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 11:
  Interesting, I've heard about this kind of thing before. It probably isn't going to work in consultative sales situations, though, because part of that sales model is discovering true needs and then quantifying them and then building a customized solution. So, in a way, there's nothing to sell at the beginning of the engagement.

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  13

  woodhouse6@...

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Nice comment Jacques!

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  14

  Geoffrey James, Sales Machine

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 1:
  Neil, for God's sake tell us more about your order rate. What are you selling? What's your selling model? How do you get that high a reorder rate?
  
  Stop teasing us and give us red meat, for crying out loud!!!

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  15

  Wukong

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  I'm assuming relationship-based sales model vs. POS where you have a long sales cycle and have taken steps to devp a relationship (-> so you know the customer's need first before your own pain of unfulfilled quotas...) - sure thing on Gambit...

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  16

  gordy73

  09/25/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  RE:10 I disagree.. That's why I mentioned following the process correctly. If we were afraid to ask tough questions we wouldn't be in this line of work... I would argue that more people are afraid to hear the bottom line, so they keep regurgitating information on the customer as opposed to listening. Avoiding the no's when inevitable is simply wasting time that could be spent on actual prospects. Time is the most valuable asset for both the sales professional and the customer. Wasting the time of both parties is in no way beneficial..

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  17

  ndlicht1

  09/26/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Geoffrey,
  
  At your request, I'll try and explain how and why my business generates the 95% reorder rates.
  
  Its anchored in the core audience that I go after, the universal fit of what I sell. By design it aims at a universal "constant consumption" type prospect and audience. Thats whats built into what I sell, and most important how I connect with my customers to assure constant reorders.
  
  Its also in what I decided to focus on and how I structured both my own approach and in how I attract, grow and leverage my partner network.
  
  Here's how and why this works:
  
  It starts with how I defined the business I wanted to be in and why.
  
  My selection criterion was:
  
  1. Consumer product used regularly and re-ordered. Yes very mundane but the target audience is real, does exist and already spends money on these type of products.
  2. Something that my Grandmother could buy in good faith and want to buy again, something where the value made it desirable and that value could be differentiated from any others and people stayed loyal to it for that reason.
  3. A business model where nobody could get hurt financially, not my customers, not me, or any business partners I brought in.
  4. Well Managed with a debt free and proven track record - other people in the company as participants would freely show me their results spanning years and those results revealed growth, reorders, new customers and customer retention
  5. The company was financially solid with a long track record of continuing growth
  6. Low entry fee and no financial risk in doing so.
  7. Low personal production requirement
  8. Not dependent on employees or subject to adverse swings in the economy
  9. No stocking, no shipping, no bidding, no customer credit checks, no tax collections
  10. Strong Recurring revenue concept built in
  
  I found that right opportunity, started it on a shoestring and never looked back.
  
  The core of why it works so well:
  
  Its a very mundane, unglamorous business but
  
  1. By design, my products "attach" themseves to everyone's daily fabric of life
  2. it becomes part of their normal life's daily routine.
  3. Its based on things people regularly and normally buy every day!
  4. They do not spend any additional money or "new" money in their existing budgets to purchase my products, they simply switch their shopping method to my concept.
  5. Whether people become buyers and consumers, the real heart of my 95% reorder rates each month, or want to develop this business themselves as a business partner ? myself and they see financial returns every time anyone buys a product and so do you!
  
  
  Here it is in concept:
  
  You may want to look at it v your current business ? Maybe even as a part time way to create a financial safety net.
  
  What it is not: IT IS NOT AN MLM NOR A PYRAMID
  
  What iT is: it is a consumer direct business where customers buying directly on line,goods delivered directly to them, using up the products and then re ordering is the mainstay of your income stream.
  
  Key Business Features:
  
  ? Customers do not spend NEW Money - Simply shift their normal buying of household items like cleaners, detergents, vitamins and 300+ other products from the grocer to ?on line?.
  
  The products clearly last up to 6x longer than store bought, delivering a very clear value and a great ROI for the money spent v the grocers, drug or shoppin clubs.
  
  ? Thats why It has a documented 95% monthly retention/repeat order history without you doing anything at all!
  ? It delivers real cash savings that becomevery clear as the customer uses the product and exponential income as a % of the purchases that every customer makes
  ? Its a consumer direct buying program for real products that people actually use and consume everyday so its not a Pyramid.
  ? People auto by on line so you don't have to nag anyone or waste time trying to process, stock or get re-orders - no stocking is needed or even allowed at all
  ? Monthly revenue comes in automatically each month to you based on everyone's product purchases each month
  ? no big start up costs
  ? no inventory to carry
  ? no credit checking
  ? no bill collecting
  ? easy as a part time business
  ? no calling people for orders
  
  Its not a pyramid, its real and best yet, delivers lifetime revenue sharing and commissioned % of every order by anyone directly or indirectly in your co-op buying group goes to you.
  
  I am very proud of this business and can be reached at 508-481-8567 for questions. I love sharing and the discussions that this site lets us all have so please do call. email: wedeliverwellnessgroup@verizon.net
  
  web:http://www.opportunity4me.advancingwithus.com/
  blog:http://bybyrecession.blogspot.com/
  

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  18

  Geoffrey James, Sales Machine

  09/26/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 17:
  Oy vey. I asked; now I know... sort of.

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  19

  ndlicht1

  09/27/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  By the way, the ? were actually bullet points, not ?
  
  Any and all readers are free to ask me more. I love helping others to try and "make it" and, while I'm not the guru of sales, I have years of experience in this and other businesses.
  
  Regards, Neil Licht

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  20

  jakedempsey

  09/28/09 | Report as spam

  Uhm...

  Why do I just feel like I ate a late night dinner at Denny's with someone I haven;t heard from in 20 years.
  
  Ok, all joking aside... the old adage that, "honesty is the best policy" is true. I agree with the answer to the question, and I also support to a degree, what Jacques said.
  
  Since my customer's time is valuable, and mine is too, I think setting an expectation up front, or getting some sort of commitment to move forward is important. I look for a commitment in every step of the process, whether it be a cold call commitment for a in person meeting, or an agreement to give my product a try, or that if we can find mutual benefit through solving problems, that we will close the deal with something that makes sense.
  
  Gone are the days when you pretended to like fishing or NASCAR. The new school is just to get to the point and help customers realize the value by asking the right questions. Once they realize it, all you have to do is close it!
  
  Great article.

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  21

  JacquesWerth

  09/28/09 | Report as spam

  Re: Note 12 - Geoffrey, You are right!

  What I prescribed above will not work for people that use Consultative Selling methods. That is one of the reasons why most people who sell that way produce low closing rates. Most often, they do a lot of work with prospects who will not buy.
  
  Consultative Selling has great appeal for salespeople because it seems logical and fits their dreams of becoming skilled persuaders. However, it has very low appeal for prospects; most of whom resist persuasion.

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  22

  Geoffrey James, Sales Machine

  09/28/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 21:
  Not sure what you're selling, but transactional selling is pretty much dead. If somebody knows they want something, and know what they want, they can find somewhere to buy it. No sales pro required.
  
  Consultative selling has nothing to do with persuading. Consultative selling is about creating a customized solution based upon customer needs, many of which may not be apparent at the beginning of the sales cycle.
  
  Unlike transactional selling, consultative selling is impossible to commoditize. So, while you may have a high hit rate selling whatever you're selling... to rubes who don't have a computer, I can pretty much guarantee you that it won't last for long.

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  23

  pc4media

  09/29/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re: 11 & 12:
  
  It's possible to ask questions about people's buying process at any time in the sales process. Of course, if it's the first question on the first call, it's going to sound a little awkward, but I've asked the question, "If I'm able to present a solution to your challenges that fits your budget and you're confident will help you hit your goals, what will happen after that?"
  
  It's a fair question. If the prospect is serious about getting their problem solved (and knows what their problem is), they should spell out the who, what and when's of their buying process.
  
  I think it's a very fair question to ask before spending a lot of time with a prospect.
  
  I'd recommend building some credibility and repoire before asking it, though.
  
  re: 16. I think we're actually in agreement. I agree that time is valuable. And it sounds like you are very thorough before you use the gambit close. I've just seen too many sales people who go in with the gambit close with their fingers crossed, when they should be asking more and tougher questions about budget, authority, timing, etc.

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  24

  Geoffrey James, Sales Machine

  09/29/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 23:
  Quote: "If I'm able to present a solution to your challenges that fits your budget and you're confident will help you hit your goals, what will happen after that?"
  
  I think that's a very fair question and definitely worth asking fairly early in the sales cycle. See:
  
  http://blogs.bnet.com/salesmachine/?p=4711
  
  I believe it's fairly early in the process.
  
  

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  25

  gordy73

  09/29/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  RE 23:
  Yeah, it's easy to misuse these techniques. I'm sure that we all wish we had a call or two back from not playing it how we intended it. That's why these discussions are so great.
  
  RE 24:
  That's a standard upfront contract right? It's a great way to outline expectations. Closing then becomes a natural part of you and your prospect's agenda.

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  26

  JacquesWerth

  09/29/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re: Note 22
  It is easy to assume that if you are not using Consultative Selling you must be doing Transactional Selling. However, there is a third alternative, which takes advantage of the phenomenon of ?Information Overload.?
  
  Salespeople who use Consultative Selling assume that the vast majority of prospects are not aware of their needs. That assumption was true until the mid-1980s when the advent of personal computers ushered in the ?Information Age.? Over twenty-five years later, we are coping with Information Overload. Depending on which study you believe, the average American is exposed to between 1 million and 4 million informational messages per year.
  
  During each year, we are exposed to virtually every product and service. Our minds filter out most of that information, but take in information about things that we might need. Therefore, most prospects know something about almost everything they could need. The greater the need, the more they know.
  
  However, it is not true that most prospects will take the time and effort to research what they need before you show up. Even if they do go shopping, most prospects don?t even buy commodities that way unless the importance of the purchase is trivial.
  
  Most prospects will only spend the time and money to focus on their top priorities. When you are aware of how Information Overload creates ?high probability prospects,? the strategies to find them and do business with them, are very different from what consultative salespeople do. Now, the operative question is ?Does my product or service fulfill the top priority needs of the prospect ? right now?? The next question is ?If not now, when??
  
  The primary concerns of high probability prospects are how much they trust and respect the salesperson and the company s/he represents. Most prospects do not trust and respect a salesperson who tries to get them to do something that is not a top priority. Especially if the sales person tries to educate them and then, make them feel pain.
  
  
  

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  27

  Geoffrey James, Sales Machine

  09/29/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re Note 26:
  I think you're onto something there, providing you have incredibly strong lead generation programs. However, I do note that any reasonable lead qualification program will filter out prospects that don't have a priority need. The consultative activity is the clarification and quantification of that needs so that it can be further prioritized and budgeted against other priorities. But all this to the side, you still have to close the deal at some point and that all five selections -- even the best of the bunch -- smack of desperation and a failure to properly position the offering.

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  28

  JacquesWerth

  09/30/09 | Report as spam

  RE: QUIZ: Which Closing Technique Is Best?

  Re: Note 27
  Geoffrey -
  If you put yourself in the mindset of people when they want something that they are ready, willing and able to buy (high probability prospects), finding those prospects can be relatively easy, efficient and effective. It does take some knowledge of target marketing.
  
  High probability prospects don?t want to be sold. They want to collaborate with a salesperson that they trust and respect, who has what they want. In that scenario, closing is done via mutual agreements and mutual commitments. And, the prospects close themselves, without pressure or discomfort, dozens of times throughout the entire sales process.
  
  Selling does not have to be difficult or mysterious. I learned these methods by observing hundreds of top producers (the top 1% in 23 industries) while they interact with their prospects and customers. Their sales processes tend to be in the form of a written or memorized questionnaire and they take copious notes. They consistently use same process with all prospects. Thus, they become highly competent at what they do, and that competence is their primary motivation.
  
  Peace and joy,
  Jacques