The Money or Nothing Sales Close

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Credit CardOf all the sales closing questions I teach, the “Money or Nothing” sales close works well with long term purchases. By that I mean, that they will enjoy the benefits of the purchase for a long time. These would be for things such as homes, furniture, special vacations, education, vehicles, and so on.

The point of the close is to increase the value of gaining the benefits beyond the perceived value onto the money the buyer would exchange for those benefits. As with all selling and closing strategies, sincerity is critical. You must first truly believe, based on your conversations with the buyer, that your product is good for them. You also must have received some positive feedback from them. They may just be hesitant to make the commitment.

Here is an example of how to help them perceive the value of the benefits as greater than their money:

Carol, from what you’ve told me, you are excited about the benefits you will gain from this product. (Do a brief benefit summary here to build their emotions toward the purchase.) Nearly everything we purchase seems to depreciate in value, doesn’t it? Because of that, we all have to consider the same point when making purchasing decisions. The primary consideration is: Do we want to retain our money, and potentially watch it depreciate in value or do we want to invest some of it now for things we  would enjoy long term?

When you’ve done everything else right leading up to this point: establishing rapport, qualifying, presenting and addressing specific concerns, and determine that you have a good solution for their needs, it becomes your obligation to ask for the business (aka close the sale) in order for them to gain those benefits.

Copyright Tom Hopkins International, Inc.

Learn more ways to ask for the business than clients know how to refuse >>

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Closing Strategy, Higher Authority

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A higher authority is a respected person known by your client who is willing to give third party testimony. The higher authority will most often be a satisfied client — possibly the one who referred you to the prospective future client.

To set this close up, choose your higher authority and discuss the situation with them. Tell him or her that you’ll be meeting with ‘Jim Johnson’ at 2:00 p.m. on Thursday, and ask if they might be available around 2:30 p.m. to take your telephone call in case you need his or her input. Always offer to refer other business back to your higher authority in exchange for their involvement or to return the favor.

When you make the call, simply make the connection, do a brief introduction, and then let your higher authority tell your prospective client how great your and your product/service are.

If your higher authority is unavailable to take your call, ask for a testimonial letter and permission to use his or her name.

To read all of my closes, get a copy of Sales Closing for Dummies. To listen to them delivered and learn how to write your own, listen to my audio titled, Academy of Master Closing — available in both CD and MP3.

This information is copyrighted by Tom Hopkins International, Inc. for reprint permission, contact Judy Slack (judys@tomhopkins.com).

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