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4. Budget tolerance
Do not try to close while receiving qualifying data. Ask what customers are willing to pay for your product or service. Understand what they feel they can afford.
Obtain an honest figure from customers by asking if their figures are real. Customers also might revert to engrained, defensive counter-maneuvers. Be real with them by using real questions and responses.
Find out who has the authority to accept the product or service and make the final decision. If the decision-maker is not present, stop the discussion and reschedule the meeting. If you proceed, the customer will use the “I have to talk it over with my spouse, partner, boss, etc.” excuse, and there is no close to be made.
You may be tempted to modify this process and advance this step to an earlier stage. It is step No. 5 because until this point, you have not gained trust or the right to request it. Take note on how personal the process has evolved to this step. The customer is not ready to be loyal until this stage of the process, and before it, you will be rushing a choice to commit.
Satisfy the customers’ compelling personal reasons and reaffirm your commitment to them. Try saying: “If I can get you this loan, at this payment, for this home, does this satisfy you?” The response is key. Every salesperson is motivated by and dreams of this part of the transaction. Here, the customer commits to an offer. The customers’ choice is based on their experiences with you.
Accomplish a no-sell sale and have customers close themselves by playing devil’s advocate. Explain why the deal might not be right for them. Create a situation where customers tell you that they want to purchase your product or service. They convince themselves that they are closing the deal and will sign the dotted line eagerly.
To summarize, the steps toward a successful closing are to create a pattern interrupt, set rules, find compelling personal reasons, uncover the customer’s budget tolerance, locate the decisionmaking authority, fulfill customers’ true needs and accomplish the post-sale.
When it comes down to closing any deal, the choice is — and will continue to be — the customer’s. Any technique that does not recognize this approach is poor, and the results reflect it.
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