Whether negotiating for a better price, more favorable terms or to schedule the next step in the selling process, it is important to maintain a proper perspective about two pivotal factors – relationship and outcome.
In selling situations, the relationship between the buyer and seller is key. It often determines success or failure, and it is the glue that holds the selling process together over time, assuming repeat sales are an objective.
The outcome of each negotiation is more involved. Sure, there is a simple outcome – a person either buys or not. But at what price does one buy? What terms might one accept? And how accommodating a customer might one become?
The most successful sales people are able to simultaneously focus on both relationship and outcome. While they carefully nurture and preserve their relationships, they also avoid “over-accommodating” their customers.
Over-accommodating occurs when a seller puts too much emphasis on the relationship component of negotiating at the expense of outcome. As a result, the seller regularly agrees to virtually all buyer demands, and is prone to sell products or services at very low margins.
At the other end of the spectrum are the sales people who place too much focus on outcome. They strive to make sales and gain the most favorable terms at all costs – often damaging relationships in the process.
To maximize results, develop a fair and balanced perspective between relationships and outcomes.
Showing posts with label closing. Show all posts
Showing posts with label closing. Show all posts
Tuesday, August 31, 2010
Thursday, June 17, 2010
Closing v. Trial Closing... Improve Your Results!
Closing the sale is a skill we're asked about frequently - and one surrounded by a great deal of mystery. One area of confusion that can, when demystified, result in a healthy increase in closing rates, is the difference between "closing" and "trial closing."
Closing is the act of seeking a decision, usually through the use of a direct question.
"Can we move forward?"
"Would you like to place an order today?"
Trial closing, on the other hand, is not about directly seeking a decision, but is a method of seeking an opinion - in other words, a way of testing receptivity.
"Does that sound good to you?"
"What do you think so far?"
Trial closing is an extremely important (and often omitted) component of the selling process, because it gives the seller some insight into the relative interest level of the prospective buyer before closing questions are asked.
When a seller receives positive, enthusiastic responses to trial closing questions, then he or she knows the buyer sees value in their offer or proposal and will be inclined to move forward with the sale.
Conversely, if trial closing questions are answered negatively or with little or no enthusiasm, then the prudent seller knows that something has gone off-track; needs were not properly assessed, some form of miscommunication has taken place, etc.
In this latter instance, the best track is to go back to assessing and clarifying needs, interests and priorities, and then testing the waters again with additional trial closing questions.
It's important to realize that the selling process is seldom thrown completely off-track when trial closing questions yield negative responses. In fact, the negative responses give the seller an opportunity to correct errors that were obviously made during earlier steps, and increases closing rates in the end.
Closing is the act of seeking a decision, usually through the use of a direct question.
"Can we move forward?"
"Would you like to place an order today?"
Trial closing, on the other hand, is not about directly seeking a decision, but is a method of seeking an opinion - in other words, a way of testing receptivity.
"Does that sound good to you?"
"What do you think so far?"
Trial closing is an extremely important (and often omitted) component of the selling process, because it gives the seller some insight into the relative interest level of the prospective buyer before closing questions are asked.
When a seller receives positive, enthusiastic responses to trial closing questions, then he or she knows the buyer sees value in their offer or proposal and will be inclined to move forward with the sale.
Conversely, if trial closing questions are answered negatively or with little or no enthusiasm, then the prudent seller knows that something has gone off-track; needs were not properly assessed, some form of miscommunication has taken place, etc.
In this latter instance, the best track is to go back to assessing and clarifying needs, interests and priorities, and then testing the waters again with additional trial closing questions.
It's important to realize that the selling process is seldom thrown completely off-track when trial closing questions yield negative responses. In fact, the negative responses give the seller an opportunity to correct errors that were obviously made during earlier steps, and increases closing rates in the end.
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