Closing Question - Sales Advice

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Janna from Denver writes: I like your site…very informative and helpful. I have a client that has requested an amortization schedule and interest rate for our lease.

My boss gave me the interest rate but can’t give me the payment schedule. I have asked the leasing company but they have not replied yet. Please help! Where can I go?

Sales Advice: Well Janna, thanks for your comments! Look no further. We have a lease calculator here at Sales-Class where you can figure out the interest rate and get a payment schedule for your client instantly. Go to our Lease Rate Calculator.

This closing question can make you or break you. Be very careful when quoting interest rates and giving payment schedules. Today’s clients are smart and have many resources at their disposal to do their own research to verify interest rates.

By supplying them with a payment schedule they can verify your interest rate easily. Use the payment calculator to generate both so they match.

If your interest rate is high, use the implied interest rate strategy (described under the lease rate calculator) to adjust it before you print out your payment schedule. They can then validate your selling price and interest rate against the payment schedule and all will check out. Let me know how it works out and go get em!

Tommy from Atlanta writes: I have a customer that I have been trying to move forward for the last 3 months. Any hints on what I could do? Thanks and I like your site, it’s been very helpful.

Sales Advice: This is probably the most common closing question. Buyers get stuck. It is critical that you help them find a sense of urgency. Without a sense of urgency on their part, they will wait for your competitor to come along and give them one. Let’s first look at what this sense of urgency means.

Most salespeople confuse their own sense of urgency with their clients. Don’t make this mistake. You client doesn’t care about your month, contest, bills you have due or your quotas. You have to give them something that is their own. Here are some closing question examples:

Give them a new proposal (quote) reflecting the new pricing that goes into effect next month. Give them plenty of time so they don’t think it’s hokey.

My all time favorite closing question is to ask them if they can wait till next week before making the commitment. Offer an incentive but tell them they need to wait till next Tuesday to qualify. If they agree, the deal is closed next week. Don’t use TODAY. It’s way over used and they will see right through it. Good luck and let me know how it works out. There is also some relevant training about this at our Basic Sales Training Class.

Sasquatch from Buda writes: I have a very large deal that I am proposing next week. My customer says he’s going to probably make a decision next week because my competitor has put the pressure on them to decide by the end of the month. They are leaning towards them. My closing question is what can I do to change this? Thanks.

Sales Advice: Well, first of all I didn’t know they had any Sasquatch in Buda….LOL. Anyway, In this case, since they are leaning towards your competitor and your competitor is pressuring them, you may, NO, do want to consider using this against your competitor. Try turning the tables by taking the opposite approach. It’s human nature to NOT want to be bullied. Consider after your presentation saying something like:

Gentlemen, I have presented our very best solution as well as our very best pricing. I would like to add just one more thing. Please, take your time making this decision. Study and weigh it carefully. We want you to be happy with your decision and we will leave this offer on the table for up to 90 days for your consideration. Take your time and decide for yourself, which is the best solution for you.

Don’t close your browser on my yet Sasquatch! Because you are behind in the race anyway, you have nothing to loose and everything to gain from doing this. This is what may happen:

Your competition will apply the pressure and when the client slightly resist, your competitor will turn it up for end of month business. This additional pressure applied can easily backfire on your competitor because of your take your time offer. Your best bet is to try to drive a wedge between your competitor and your client.

Finally, compare it to dating. If your date, at the end of the first date, invites you up and you say no, they will only want you more. If you try to force the closing question to fast you will get rejection. Leave this rejection to your competitor and get the home run! See ya!

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