Improve Your Closing Ratio

This is a trick post.  No, I don’t mean that you won’t learn how to improve your sales.  A good pitch with superior questions is the best way to improve sales. This is a fall back step for the time(s) that your pitch doesn’t go as planned and you receive an objection.

Reality is, is that most first (and second and third for that matter) objections are simply screens to the real reason the prospect isn’t buying.  The prospect doesn’t want to say no to your offer so they throw up a simple excuse to get you to go away.  A majority of salespeople simply accept that objection, try to handle it as best as they can through some methods they’ve learned, and then become frustrated that the prospect still won’t buy.

Now, most trainers teach objection resolutions that revolve around empathy and understanding, which I agree that you need those emotions and approach.  However, most salespeople will show empathy in the place of guts.

Beating the objection is a three (3) step process that will either lead to the true objection or a sale.

Step 1: Clarify the Objection  – You can’t resolve an objection if you’re solving the wrong one.  Whatever the objection thrown to you, simply ask if there is anything else holding the prospect back from buying.  If the answer is no, move to Step 2 below.  If the answer is yes, repeat the question to uncover all objections.

Step 2: Resolution tease with a buying decision – Now that you have the true objection, you must resolve it, but with a twist.  You must ask if you present a resolution to the objection, that you’ll earn the sale.  In my opinion, this is where most salespeople get it wrong.  Whatever the objection is, your response ends with, “will you buy?”.

Example: “You said price is too high, and that you only have XXX in the budget.  If I can get the price into your range, will you buy?”

This is where you will tell if you have the true objection or not.  If the answer from the prospect is no, then there is a good chance that you didn’t clarify the objection properly.  If the answer is no, go back to Step 1 and start with the real objection.  If the answer is yes, go to Step 3.

Step 3: Close – Now you are prepared to close the sale.  The close is not simply asking for the sale.  The close is to state your case from the resolution tease and then get the credit card number.

Example (Continued from Step 2): Great, I have XXX package that falls right in line with the budget you stated.  Will you be putting this on a credit card?

If the prospect does not buy, then there is something else holding him back, go back to Step 1

You see, too often salespeople put the wrong technique into place.  They do not clarify the objection properly, and then proceed to resolve the incorrect objection as politely as they can. After that, they wait for the prospect to think it over and call them back to buy.  When that doesn’t happen, they often wonder what went wrong.    What went wrong is that you didn’t go in for the close when you had the chance.

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