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Effective Sales Closing Techniques by Brian Tracy

Aug 31, 2024

Sales Closing Techniques by Brian Tracy

Introduction

  • Brian Tracy introduces his sales training program: The Psychology of Selling.
  • Focus on 24 effective sales closing techniques to boost sales performance.
  • Importance of practicing techniques to increase sales ratio and income.

Key Statistics

  • Over 80% of sales are closed after the fifth attempt.
  • Only about 10% of salespeople have enough closing techniques to ask for the sale more than five times.

Psychological Antecedents to Closing

  1. Enthusiasm
    • 51% of closing effectiveness comes from enthusiasm about the product.
    • Effective salespeople believe in and love their products.
    • Constrained enthusiasm is more powerful than raw enthusiasm; excitement is contained and focused.
  2. Confident Expectations
    • Salespeople must expect the prospect to say yes.
    • Knowledge, practice, and experience build confidence in the salesperson.

Steps in the Sales Process

  • Qualifying the Prospect:
    • Determine if the prospect:
      1. Needs the product.
      2. Can use it.
      3. Can afford it.
      4. Wants it.
  • Presentation: Most of the close happens during the presentation, especially in real estate.
  • Overcoming Buyer’s Remorse: Address the tension from the fear of making a mistake or being rejected.

24 Sales Closing Techniques

1. Getting Appointments

  • Break preoccupation and show the result/benefit of the product in the initial contact.

2. Approach Close

  • Set the expectation that you won’t try to sell them during the presentation.

3. Demonstration Close

  • Confirm the prospect's ability to purchase before presenting.

4. Hot Button Close

  • Focus on the key features that matter most to the prospect.

5. Trial Close

  • Ask for feedback throughout the presentation.

6. Power of Suggestion Close

  • Talk to prospects as if they’ve already made the decision to buy.

7. Ascension Close (Yes-Yes Close)

  • Ask a series of yes questions to build buying temperature.

8. Invitational Close

  • Invite prospects to give the product a try.

9. Price Close

  • Discuss price only after showing value.

10. Just Suppose Close

  • Ask prospects to consider a scenario where money isn’t a barrier.

11. Sudden Death Close

  • Present the contract and ask for a decision immediately.

12. Sharp Angle Close

  • Use objections as closing opportunities.

13. Instant Reverse Close

  • Counter objections with reasoning for why they should take the deal.

14. Change Places Close

  • Ask the prospect to empathize with your position to uncover objections.

15. Secondary Close

  • Close on minor points to confirm the decision to buy.

16. Alternative Close

  • Offer choices between products instead of yes/no.

17. Assumption Close

  • Treat the prospect as if they've already made the purchase decision.

18. Takeaway Close

  • Suggest that the product may not be available soon to create urgency.

19. Puppy Dog Close

  • Allow prospects to experience the product to create attachment.

20. Ben Franklin Close

  • Use a pros and cons list to guide decision-making.

21. Summary Close

  • Recap the presentation before closing.

22. Order Sheet Close

  • Fill out an order sheet during discussions to prompt a buying decision.

23. Relevant Story Close

  • Use storytelling to create emotional connections.

24. Doorknob Close

  • Gather final objections as you prepare to leave.

25. Referral Close

  • Always ask for referrals when closing a sale.

Conclusion

  • Mastery of techniques requires study and practice.
  • Persistence and enthusiasm are crucial for success in sales.

Full transcript