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Closing the Sale: Location, Location, Location...

Guest post by: Paul Donehue

Article Overview: When it comes to closing the sale, the timing or location of the close within the selling process is just as important as “location” is to the value of real estate...

Closing the Sale: Location, Location, Location...

When it comes to closing the sale, the timing or location of the close within the selling process is just as important as “location” is to the value of real estate. First, consider the impact of a premature close – that is, a situation in which the sales person asks for the order too early in the selling process. A stereotypical example might be when a customer enters a retail showroom, stops to look at a specific item and is immediately approached by a sales person who asks, “Are you interested in placing an order for one of these [item name] today?” Research indicates that buyers most often feel pressured or insulted when this occurs, as the implied message is that the seller simply wants the order for selfish reasons, and is not appropriately taking the buyer’s needs or priorities into consideration. Further, it is unlikely that the buyer has been presented with a sufficient amount of information or had ample time to make a prudent evaluation. Next, consider the danger of closing too late or, as happens in nearly half of all selling situations, not at all. A multi-year study of the impact in this instance yielded equally negative results, as when the “close” comes too late prospects or customers tend to sense that something is wrong or that the sales person is reluctant to ask what should be a simple and logical question. Many conclude that the seller’s organization is, after all, not able to meet their needs or, even worse, not really interested in their business! The “close” or a call to action (i.e., request for a logical next step) should be a natural component of every selling conversation. Ideally, the call-to-action should take place after a seller has formed an appropriate relationship with the buyer, qualified the situation, asked probing questions to identify and confirm needs, presented a solution and tested that solution via trial closing. It is at this point that the seller has “earned the right” to ask for the order or a next step, and that the buyer is likely to feel most comfortable. Put another way, the selling process is very much like a recipe. To successfully execute the process, a sales professional must include the proper “ingredients” (i.e., rapport-building, qualification, needs assessment, etc.), not only in the right quantity but also at the right time!

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Article Tags: closing the sale, selling, selling process



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