Keep it simple: Perfect your closing strategyArticle added by Karlan Tucker on April 30, 2013
Ranked: #26 (1,952 pts)
Can you imagine how much money you would make if you made a sale to almost half of your prospects? Here are some numbers to illustrate this point.
Picture this: You are 90 minutes into your presentation, and your prospect tells you, “You had me about an hour ago.” Has that ever happened to you? This begs the the question: Why do we try to provide so much information and offer so many different
strategies all at once?
The answer: A lack of confidence.
We are not convinced that what we say is good enough to close the sale. Instead of asking for the sale early on, we give more information, and then more and even more.
In the sales process, I ask closing questions in the first five minutes of the presentation. You’ve heard it before, and it’s as simple as ABC:
Always be closing. I have closed hundreds of sales so quickly (within 30-45 minutes) that I usually spend another 30-60 minutes after the sale is completed to reinforce what we just did.
I am not advocating you switch to a “one-call-close” if you currently do a “two to three call-close,” but I encourage you to be deliberate in
the information and strategies you share. Have the end in mind. What are you trying to accomplish, and what can you accomplish in a first sale scenario? Once you have a client, you can keep selling to them for the rest of their lives if you continue to add value.
A leading grocery store chain created a display with over 100 different jams, jellies and preserves. They placed a hidden camera to observe the buyers behavior. Only 17 percent of the shoppers who stopped at the display actually purchased a jar.
Then the store changed the selection to just two choices: strawberry jam and grape jelly. The result was 47 percent of the shoppers purchased.
Can you imagine how much money you would make if you made a sale to almost half of your prospects? Well, let’s figure it out. Here are some numbers to illustrate this point. (Keep in mind that, on average, one Social Security seminar mailer will provide you with 100 prospects.)
Now, keep in mind the average annuity sale is $100,000 and the average commission is 6 percent or $6,000 in this illustration.
- One mailer to 7,500–10,000 potential prospects
- 100 prospects attend the seminar
- 60 households
- 30 set appointments
- 25 keep the appointment
- You close 47 percent, so that equals 11.75.
Congratulations! You now earn more than 98 percent of the American population! And why are you now earning so much?
- 11.75 x $6,000 = $70,000
- 12 months x $70,000 = $840,000
It’s simple: You kept it simple.
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