Closing is everybody’s favorite subject! After all, successfully closing a deal and turning a shopper into a buyer is the cornerstone of a successful business. Unfortunately, many salespeople don’t understand how to genuinely close a sale, leading to a loss of profits and customers. In today’s episode of CBT Now, Sean Gardner, instructor and sales trainer at Joe Verde Group, joins us to share how salespeople can master the art of closing to increase their profits.
Gardner notes that the traditional, “old school” sales process typically consists of five generic steps: greet, qualify, present, demonstrate, and close. In theory, it seems straightforward enough. However, he notes that formal, in-depth training is often lacking throughout dealerships. This has led to thousands of sellers who rely on weak closing tactics like the “If I could, would you?” approach.
The modern-day customer is much more informed, exceptionally tech-savvy, and typically takes the time to conduct a lot of research before walking into a dealership. They expect transparency and value over high-pressure tactics. If salespeople don’t understand how to tailor their approach to this new customer, they will likely lose them.
It’s crucial to remember that closing isn’t a single step–it’s a culmination of a well-structured process that consistently moves the sales forward. Garner breaks down the art of closing into three different phases:
Warm-up
This is a critical phase in which sellers work to build a rapport with the customer and make them feel comfortable. When customers enter the dealership, they’re often tense and have their guards up.
The warm-up phase focuses on bringing those defenses down. Sellers can do this by giving the customer a warm greeting, slowing down, and taking the time to investigate the customers’ wants, needs, and lifestyle. This makes the customer feel heard and valued.
Gardner highlights that resisting the urge to qualify the customer is crucial during this phase. Avoid questions such as “What price range are you looking to stay in,” or “What are you thinking about buying?” Better questions are “Who is the car for,” or “What features are most important to you?”
Creating a strong first impression during this phase establishes trust and likeability. After all, 71% of customers who like their salesperson will make a purchase.
Value-building
This phase is crucial to strengthening the customer’s commitment, and the goal is to make them fall in love with the car. Instead of rushing to present the customer with numbers, take the time to reinforce the customer’s emotional investment by focusing on the value of the investment.
A well-structured test drive and follow-up discussion should confirm that the selected vehicle meets the buyer’s expectations. During the test drive, ask questions to assess whether or not they like the car.
Closing
Closing should be a natural progression of the interaction and not forced. The most effective closes are driven by value and not by price.
Towards the end of the test drive, after confirming that the customer loves the vehicle, Gardner suggests they park the car in the sold line or next to their trade-in. This subtle suggestion effectively shifts the customer’s mindset from the shopping phase to the purchasing phase.
If a customer does this, it’s a good indicator that they now view themselves as a buyer and their commitment to the product has been solidified. When salespeople close sales based on the product’s value, as opposed to numbers, it puts the desk in a much better position to negotiate a win-win deal.
"Throw the "If I could, would you" in the trash can, and learn the true meaning of closing. If we want to win sales, we have to understand what the true meaning of closing is." – Sean Gardner
