The Closing Blog: Executing an Effective Closing Meeting-​Part two of a two-part series

Since this is a blog post I’ll get right to it. Not enough emphasis is being placed on closing. The reasons we typically hear range from a fear of being too salesy to the reluctance to confront the mortality of a deal.  Flashbacks to Alec Baldwin’s famous “A-B-C” sales office scene in Glengarry Glen Ross also add to the pall. But to understand how to improve this, it’s important to understand some of the success factors that drive high close ratios:
 
1. Prospect fits criteria of past success and aligns with core competencies.
2. Initial contact came via credible outreach or respected referral.
3. Rapport was built and an authentic connection made.
4. Dialog revealed a true need or aspiration not yet met consistent with success factor #1.
5. Other influencers in the sales process were identified. 
6. Several solution ideas were exchanged and feedback provided.
7. “Next”.
 
It's at Next where all the trouble starts. Is the client supposed to ask for the order? Does the client know that they are at the end of your process?
 
The Solution:
What we recommend is a meeting among parties that acts as a collective gathering of where everyone is in the relationship. We call this meeting The Relationship Review™.  It’s an agenda as much as it is a conversation designed to do one thing: get the client to realize that it’s time to decide. Together you’ve left no stone unturned and it’s time to act. Here’s the flow:  

1. Summarize the Relationship: Bring the prospect back to the conditions that were present when you first met - who introduced you and the context of the discussions thus far.
2. List a Contact Chronology: List the dates of meetings held, with whom, and at which venue.  Show the client the variety and value of your meetings in addition to the sheer volume of them. The goal is to show the prospect that you’re invested.
3. Share Unique Needs Uncovered Together:  This is a capture of what both parties has learned through the process – learnings that are pointing to a likely and logical solution.
4. Recap objections and accepted responses: At this stage you are not selling in reverse. Acknowledge any resistance or objections, but focus more on how they were handled and the benefit of that clarity.
5. State Your Investment Recommendation:  This is your recommendation for the prospect, stated in context with steps 1-4 above.
6. Layout easy next steps: We recommend no more than 3 easy steps that, upon the prospect's commitment can get your recommendation moving.

​Bottom Line: The goal of this conversation is to continue to engage the prospect. More important - you want the prospect to see the full extent of your effort. This meeting should demonstrate the depth of agreement on key points, the uniqueness of the needs uncovered and the pragmatism in your recommendation. You want to create the impression that you've both been diligent. The ask then, is very simple. You have demonstrated your/your firms’ commitment – now you are simply asking for theirs. 

Need to improve the closing skills on your team? Check out our program Taking the Stress Out of Asking for the Business. Delivered online or at a location of your choice!  Click here to learn more: www.billwaltonsalestraining.com/uploads/2/6/7/2/26723831/wmfactsheetpack-04-07-18_1.pdf