First, what’s the definition of “closing” a deal to you? To me, it is any question you ask, or anything you do that moves the sale forward. Closing is not some “trick” question you ask when you feel it’s the right time, or after you present the product. It starts the moment you get out of bed in the morning.
If you get up in the morning with a positive attitude and high enthusiasm, aren’t you more likely to have a much more positive and productive day? Wouldn’t that lead to more closed sales by the time you go to sleep? Absolutely it would!
Keeping that in mind, let’s discuss some common mistakes that most people make when closing the sale. You should definitely learn to avoid these!
- We pre-qualify everyone. Some of us say we never pre-qualify, but are you being honest with yourself when saying that? Who hasn’t been in a Saturday morning pump-up meeting where the cash and weekend spiffs are flying, and they whip you into a frenzy. Then you come out of the meeting sky high, see a customer who you think couldn’t buy steam off a hot dog, and head the other way, hoping nobody sees you. Sound familiar? The next thing you know, the new guy has them on a demo ride, and then writing them up in his office. He brings it to the manager’s office, and you’re curious what the credit is like. You walk buy and see the guy is an 800 beacon. “Oh well, the new guy needed it anyway…” You’re killing your paycheck on the installment plan. One deal at a time.
- We talk price. Can we always bypass price? No, but if you can do it seven or eight times out of 10, wouldn’t that be worth it? The average initial price drop by a salesperson is $844. That’s the average drop. What’s 25 percent of $844? You’re right, it’s $211. If you did it JUST twice a week, that’s $1688 a month, times 12 for a year…. $20,256. Come on…don’t drop the price! Don’t give it away. It takes guts and skills to hold price. Learn to bypass price.
- We take shortcuts. There are normally two times we start taking shortcuts. First, when everything is going well. You feel like Superman with an “S” logo on your chest. You know the times when everything you touch seems to turn into a deal. It’s easy to start taking shortcuts then. The other time is when we are in that 2 by the 15th mode. We need to make a paycheck because the bill collector is still coming at the end of the month. We start finding out if everyone can buy within the first five minutes. Don’t take shortcuts. Remember, the real shortcut is the Basic Steps to the Sale.
- We give up too soon. If you follow the Basic Steps to the Sale, can you ask for the sale four or five times? Of course you can! You have the right product and you have built rapport with the customer.
- We use the least effective closing questions. That good old stand by, “If I Could Would You?” Take the initiative and learn some real and effective ways to close.
What trap are YOU falling into? What do you need to work on?
