Some favorite and effective closing approaches.
The following closing pattern has been found to be very effective and is recommend for all Lite Member calls and discussions.
. Know their “Why” and “When”
Early and always the conversation should revolve around the prospect’s or Lite’s “Why” and “When.” Doing this will build trust and relationship and cause their own conversation to draw them closer to enrolling or upgrading.
♦ What And How – If a person has seen a detailed video or webinar that they are already sold and there is less reason to talk about features and benefits. Our system has been proven for ~20 years to be highly successful in the markets. How you posture our proven system will immediately establish this basis.
♦ Why – What is their reason, is it compelling, will they make changes and sacrifices for their why?
♦ When – Life is happening to them, so determine when they want to begin achieving their why. .
Knowledgeable And Assumptive
There is no reason to now be nearly completely aware of where a Lite member is in their progress to upgrading.
To accomplish this, virtually every interaction with a Lite Member should follow this closing cycle format.
This closing funnel is based on a natural flow in our conversations that the Lite Member would expect. They expect us to talk about trading, coaching and associated tuition, etc. Not doing so would be more unnatural than doing so:
♦ Build Relationship And Trust – An upgrade will occur only if there is a sense or trust in the relationship. This is accomplished by being sincere, honest, measured in claims, listening, discussing items of interest to the Lite Member (events since the last call they mentioned previously, etc.).
♦ Activity – This is discussing any progress through the Lite Demo. Particular attention to trading will be helpful as either good trading support entering coaching or poor trading encourages entering into coaching.
♦ Coaching – State something like “most people know which coaching program would be best for them when they enroll in coaching. Which coaching curriculum have you selected?” Modify this for subsequent calls.
♦ Tuition – Say something like “okay with the coaching you selected there is a tuition of $________, where have you identified obtaining the tuition?
♦ Financing – If they say they only have part or no tuition, then have a financing conversation. The nature of their credit condition will determine what financial options can be offered. Refer to the Tuition Funding tab. Say something such as “let’s work together, as we may be able to help. I need a little information to know what type of help we should chose.”
• What is your credit score?
• Do you have a bankruptcy in the last seven years?
• What does your DPI look like, or how busy is your credit report?
♦ Action Or Close – Each conversation should end with a commitment to action, upgrading, or gaining a commitment as to when to upgrade.
Following the given close funnel has proven to be very effective in committing Lite Members to upgrading. It is a nature conversational cycle that they expect and allows for asking for the upgrade without really having to ask for the sale.
Kindly “Call Them Out” Close
This is a method to kindly and matter of factly remind the prospect of what they have previously stated that would inconsistent with not enrolling.
♦ Common Responses – “I will get back with you” or “I am not sure.” Tepid responses usually mean, a question remains unanswered or a concern unaddressed.
♦ “Call Them Out” – Be firm, friendly, and fair while being assumptive and confident and ask:“When someone tells me they need to think about it, they are either not interested or interested and not sure, which is it.” .
Real Reason Close
Reduce reasons to three categories and then address the category of primary concern.
When not sure
“Often it is for one of three reasons. Is it:”
• Is there a good fit / Not a fit.
• Does it have the right features or functionality
• Does not fit finances.
Not interested (Essentially the deal is done)“
May I ask why you would not be interested” or ask again:
• Not a fit.
• Not right features or functionality.
• Does not fit finances.
Interest Level Close
What value would you place on our system from 1 – 10 (10 being of high value):
• 1 – 6 Probably not interested (walk away).
• 7 – 8 Interested (seek close).
• 9-10 Highly interested (seek close).
• Seek real reason and remove hesitation.
• Offer a payment plan. .
If No Close
Do you have any questions or need any clarity about our day trading system?
Yes – What would that be? (use quick answers and always direct them to the Demo or coaching)
No – Then if not, do you see any reason why you would not register tonight? (then be quiet)
“Find-Out” or Trial Closing QuestionsThe Salesperson’s MVT (Most Valuable Tool) / Thermometer .
“Trial Close / Always Be Closing”
This type of close should always be running through the conversation. Consider these principles:
♦ Early and Often – Talk about the Demo, coaching, tuition, fees, financing, etc. early and often.
♦ Closing Funnel / Closing Cycle – This closing conversation funnel is effective is building a sense of interest while naturally flowing into coaching, tuition, and financing.
The trial close is the salesperson’s MVT. It’s like a thermometer or blood pressure cuff – it’s a critical diagnostic tool used to assess a situation…or better yet, assess how the prospect feels about the product or service you are selling. .
During your time with a prospect, you should constantly be taking his/her “temperature” to determine if they are cold, warm or hot; and react accordingly. .
Without the trial close the salesperson is lost, and whether or not a salesperson learns to trial close will have more impact on his/her closing ratio than any other skill a salesperson can learn. .
Salespeople should practice trial closing until it becomes an instinctive part of the sales process. Since the number one goal of a professional salesperson is to achieve a 100% close ratio, effective trial closing will get you there faster and easier than any other sales technique. .
Trial Closing is not the same as Asking for the Sale
Here’s the difference between asking for the sale and trial closing: .
Asking for the Sale: “If I can get you the payment terms you are seeking, will you decide to buy?” Clearly this is asking for the ultimate buying decision. .
Trial Closing: “How do you feel about the payment terms?” You are not asking for the sale but rather asking how the prospect feels about one element of the sale. .
Why is Trial Closing So Important? (Targets the issue)
In my experience as a professional sales consultant and sales trainer, I’ve seen far too many examples of salespeople talking about their product/service and then asking for the sale. As such, most salespeople don’t really know where they are in the sales process. When they try to close the deal there are too many impediments or unanswered questions on the part of the buyer and the answer is “no”. The salesperson doesn’t like the word “no” and doesn’t know how to respond, so he/she walks away with another lost opportunity. .
The first reason to trial close is to understand where you are in the sales process so you know what is important to the buyer and where to take the conversation. Remember the previous example of the thermometer – if you don’t take the patient’s temperature during the diagnosis and ask about symptoms, then how can you determine what to prescribe? You just can’t make a sound diagnosis or ask for a decision from a buyer if you don’t know where you are in the process. .
The second reason to trial close is to find out when it is appropriate to ask for the sale. Knowing when to ask for the sale is much more important than knowing how to ask for the order. I don’t believe in hard closing a customer – it is just too uncomfortable for me and I’d rather be a trusted advisor than a hard closer. If you know when to ask for the order, then how you ask for it is so much easier. .
Some Examples of Common Trial Closing (Open Ended) Questions or Find-Out Questions
Following are some common trial closing questions. Think about these in terms of how easy they are to ask and how much information you can get from your prospect.
• What peaked your interest in day trading?
• What about the ad I posted caused you to respond?
• There are other opportunities you could chose, what motivates you to day trade?
• Thinking of our indicators, how do you see them working for you?
• Most people immediately know what coaching program they need, what is yours?
• What is the value you see in having a professional best ensuring you are a skilled trader?
• How do you feel about what we have discussed so far?
• Tell me about where you are thinking of drawing your tuition for coaching?
• What do you think about our system of proven indicators, company funding, and coaching?
• How does what we’ve talked about sound to you?
• I hear that you want into real money quickly, when are you thinking of starting coaching?
• Based on what you’ve heard so far, what are your questions? .
Remember though, these are all open-ended questions. You need to ask a trial closing question that will get the prospect talking so you can learn about where you are in the sales process and when is the right time to ask for the sale. .
How Buyers Respond to “Find-Out” or Trial Closing
When you ask a trial closing question, you will likely get one of three types of responses; Cold-as-Ice, I’m-Feeling-It, or Ready-to-Roll. The following provides some guidance about how to respond. .
Cold as Ice – Ask a follow up question that immediately captures your prospect’s attention because it is clear you have not broken through yet. Here’s an example…
COD / Rep: “What do you think about our proven day trading system to achieve your goals?”
Prospect: “I don’t think I would be interested.”
COD / Rep: “I can appreciate that. One other question, knowing what you do now about day trading, what are you thinking seems more viable to reach your reason than day trading?”
Result: Based on new prospect information you can ask another open ended question to find out if the prospect is still in a mode of resistance. .
I’m Feeling It – You know you are on the right track, making progress and it is time to strengthen your story before asking for the sale. Here’s an example…
COD / Rep: “How do you feel about our proven day trading system we have discussed?”
Prospect: “Everything sounds pretty good so far.”
COD / Rep: “Earlier you mentioned you were looking for more time, but needed to make sure there was also a viable income still coming in. Could you tell me a little more about that?”
Result: From the response, you discuss another feature that deals with this new element. .
Ready-to-Roll – Ask for the sale. Here’s an example…
COD / Rep: “How does our day trading system sound to you?”
Prospect: “It sounds really good. This is what I’ve been looking for.”
COD / Rep: “Great, we suggest the next step is to try our Trade Demo.”
Prospect: “I’d like to get things started.”
COD / Rep: “Are you at a computer so we can get you started?” .
“Find-Out” or Trial Closing Summary
Trial closing questions are open-ended, opinion-asking questions. They enable you as the salesperson to assess where you are in the sales process and evaluate the readiness of your prospect to ask for the sale. The response you get from your trial closing question will tell you what to do next. More than any other tool and skill, effective use of trial closing questions will improve your closing ratio.