7 common mistakes to avoid when closing sales

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CLOSING 5 Worst Closing Techniques by Inc.com’s Geoffrey James 2014 Curated by MindTickle - All rights reserved.

Post on 14-Sep-2014

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Seven mistakes to watch out for when closing sales deals - compiled by Inc.com columnist Geoffrey James

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Page 1: 7 Common Mistakes to Avoid When Closing Sales

CLOSING5 Worst Closing Techniquesby Inc.com’s Geoffrey James

2014 Curated by MindTickle - All rights reserved.

Page 2: 7 Common Mistakes to Avoid When Closing Sales

Technique #1: Assumptive Close

2014 Curated by MindTickle - All rights reserved. - Photo by David Douša

Page 3: 7 Common Mistakes to Avoid When Closing Sales

Assumptive Close

Definition: You ask the customer to make a meaningless decision that assumes that the full buying decision has been made.

2014 Curated by MindTickle - All rights reserved. - Photo by David Douša

Page 4: 7 Common Mistakes to Avoid When Closing Sales

Assumptive Close

Example: “Do you want that in the hunter green or the hunter orange?”

2014 Curated by MindTickle - All rights reserved. - Photo by David Douša

Page 5: 7 Common Mistakes to Avoid When Closing Sales

Assumptive Close

Expected Outcome: The customer states a preference and you ask him to sign on the do!ed line.

2014 Curated by MindTickle - All rights reserved. - Photo by David Douša

Page 6: 7 Common Mistakes to Avoid When Closing Sales

Assumptive Close

Actual Outcome: The customer looks at you like you’re out of your mind and says: “I didn’t say I was going to buy anything.”

2014 Curated by MindTickle - All rights reserved. - Photo by David Douša

Page 7: 7 Common Mistakes to Avoid When Closing Sales

Technique #2: Flyfish Close

2014 Curated by MindTickle - All rights reserved. - Photo by Bakh World

Page 8: 7 Common Mistakes to Avoid When Closing Sales

Flyfish Close

Definition: You promise something valuable then take it away if a decision isn’t made now.

2014 Curated by MindTickle - All rights reserved. - Photo by Bakh World

Page 9: 7 Common Mistakes to Avoid When Closing Sales

Flyfish Close

Example: “We have a special offer – a 15 percent discount – but only if you decide to buy now.”

2014 Curated by MindTickle - All rights reserved. - Photo by Bakh World

Page 10: 7 Common Mistakes to Avoid When Closing Sales

Flyfish Close

Expected Outcome: The customer says, “Wow! I be!er buy now! Where do I sign!”

2014 Curated by MindTickle - All rights reserved. - Photo by Bakh World

Page 11: 7 Common Mistakes to Avoid When Closing Sales

Flyfish Close

Actual Outcome: The customer says: “You must think I’m a complete idiot who thinks he can’t get that discount, or a be!er one, if I hold out for a while.”

2014 Curated by MindTickle - All rights reserved. - Photo by Bakh World

Page 12: 7 Common Mistakes to Avoid When Closing Sales

Technique #3: Puppy-Dog Close

2014 Curated by MindTickle - All rights reserved. - Photo by Paolo Lottini

Page 13: 7 Common Mistakes to Avoid When Closing Sales

Puppy Dog Close

Definition: You let the customer try the product for free in the hopes the customer will fall in love with it.

2014 Curated by MindTickle - All rights reserved. - Photo by Paolo Lottini

Page 14: 7 Common Mistakes to Avoid When Closing Sales

Puppy Dog Close

Example: “We’ll give you the product free for your evaluation and only charge you if you don’t return it.”

2014 Curated by MindTickle - All rights reserved. - Photo by Paolo Lottini

Page 15: 7 Common Mistakes to Avoid When Closing Sales

Puppy Dog Close

Expected Outcome: The customer loves the product and never thinks to return it.

2014 Curated by MindTickle - All rights reserved. - Photo by Paolo Lottini

Page 16: 7 Common Mistakes to Avoid When Closing Sales

Puppy Dog Close

Actual Outcome: The customer uses the product for the trial period, returns it, then gets your competitor to give them another trial period, and so forth.

2014 Curated by MindTickle - All rights reserved. - Photo by Paolo Lottini

Page 17: 7 Common Mistakes to Avoid When Closing Sales

Technique #4: Reverse Close

2014 Curated by MindTickle - All rights reserved. - Photo by Stephanie

Page 18: 7 Common Mistakes to Avoid When Closing Sales

Reverse Close

Definition: You ask a customer who’s saying “no” a question intended to elicit a “no” that actually means “yes.”

2014 Curated by MindTickle - All rights reserved. - Photo by Stephanie

Page 19: 7 Common Mistakes to Avoid When Closing Sales

Reverse Close

Example: “Is there any reason that you wouldn’t do business with our company?”

2014 Curated by MindTickle - All rights reserved. - Photo by Stephanie

Page 20: 7 Common Mistakes to Avoid When Closing Sales

Reverse Close

Expected Outcome: The customer says “no” and you say “Great! Sign on the bo!om line.”

2014 Curated by MindTickle - All rights reserved. - Photo by Stephanie

Page 21: 7 Common Mistakes to Avoid When Closing Sales

Reverse Close

Actual Outcome: The customer says “yes!” and says that he’d never do business with somebody who’d try such a patently ridiculous ploy.

2014 Curated by MindTickle - All rights reserved. - Photo by Stephanie

Page 22: 7 Common Mistakes to Avoid When Closing Sales

Technique #5: Yes Man Close

2014 Curated by MindTickle - All rights reserved. - Photo attribution.

Page 23: 7 Common Mistakes to Avoid When Closing Sales

Yes Man Close

Definition: You ask a series of questions that naturally elicit a “yes” answer, building momentum to get the final yes.

2014 Curated by MindTickle - All rights reserved. - Photo attribution.

Page 24: 7 Common Mistakes to Avoid When Closing Sales

Yes Man Close

Example: “Do you expect first rate service?” “Do you believe that you deserve the best?” “Do you always try to find the best value?” “Are you going to take this opportunity to get the best value and best service?”

2014 Curated by MindTickle - All rights reserved. - Photo attribution.

Page 25: 7 Common Mistakes to Avoid When Closing Sales

Yes Man Close

Expected Outcome: The customer says the final “YES” and signs the contract.

2014 Curated by MindTickle - All rights reserved. - Photo attribution.

Page 26: 7 Common Mistakes to Avoid When Closing Sales

Yes Man Close

Actual Outcome: The customer throws you out of the office for wasting her time with ridiculous leading questions.

2014 Curated by MindTickle - All rights reserved. - Photo attribution.

Page 27: 7 Common Mistakes to Avoid When Closing Sales

Check out the follow-up lesson explaining 7 common mistakes to avoid when closing sales.

2014 Curated by MindTickle - All rights reserved.