I have been a student of selling for more than twenty-four years, and I have regularly used a grand total of four “closes” during that time. I’ve tried many different kinds of close, but always revert back to these four. You must always remember that at some point in every sales discussion, you must “ASK” for the business. Here are brief descriptions of these four closes:
1. Financial Close
A financial close is the natural choice when you have successfully helped a prospect quantify the impact of their business problems. If the quantified impact of the business problems exceeds the investment required to solve the problems, a buying decision is easy to justify. The larger the difference is between the quantified impact and the required investment, the easier it is to close the sale.
2. Time Line Close
The Time Line close is effective when a product or service will impact a prospect’s project plan, especially if the purchasing decision is a prerequisite to other activities in the project plan. If you start with the desired project completion date, then backtrack to the point where your company’s product or service should be added, in many cases you and the prospect will discover that an order should have been placed some time ago!
3. The Visual or Ben Franklin Close
Some prospects have a hard time making a buying decision, regardless of the attractiveness of the potential return on investment. For these people, the Visual or Ben Franklin Close can be very effective.
This Close involves drawing a vertical line down the middle of a sheet of paper, and a horizontal line that intersects the top of the vertical line. This creates a large “T” on the paper. On the left side of the “T”, you should write the word “For”. On the right side of the “T”, you should write the word “Against”.
Now you should suggest to the prospect that it might be helpful to make a list of all of the reasons both for and against acquiring your company’s product or service. Help the prospect create the longest possible list of entries in the “For” column. Let the prospect populate the “Against” column by themselves.
The usual end result is a list of reasons in the “For” column that is much longer than the list of reasons in the “Against” column. Seeing this difference visually can help push a reluctant prospect over the decision-making hump.
4. Thermometer Close
In the Thermometer Close, you ask a prospect to rate their level of interest on a zero-to-ten scale. Zero means the prospect has no interest at all, and ten means they have already decided to buy.
If the prospect answers “Ten”, you’re done! Stop talking and write up the order!
If the prospect’s answer is five or lower, you should ask, “Based upon what you’ve told me so far, I don’t understand why you say (score). Can you help me understand that?” The prospect’s answer will tell you what you need to do to advance the sales cycle.
If the prospect’s answer is a six or more, you should ask, “What do you need to see to get to ten?” Again, the prospect’s answer will tell you what you need to do.
One of the attractions of the Thermometer Close is it can be used repeatedly. As the prospect’s “temperature” rises, you can continue to ask, “What do you need to see to get to ten?” This is a nice, non-threatening way to get prospects to share issues that are preventing you from making sales.
Sales is about closing deals, and it is for the Sales professionals to decide which close is best suited, and these 4 can certainly help you to close deals and increase your bottom line revenue.