selling and closing

©Results Rules OK Ltd 2011 www.resultsrulesok.com 1

Selling & Closing… Remove the risk, and get the sale...

…how to build your conversion rate

selling anything…

Results Rules OK...

David Holland MBA

The Results Guy…

June 2011

E Book # 7


Contents

1. Introduction

2. The Sales Process

3. About Results Rules OK – the marketing bit...


1. Introduction.

It doesn’t matter what business you are in, you have to make the sale. The success of your

business will depend on two key drivers;

1. The rate you attract customers.

2. Your rates of customer retention.

This paper will be focussing on the rate you attract customers and specifically how to

convert a prospects when face to face selling.

Your success attracting customers to your business is determined by the following factors;

1. Lead generation – actually getting someone to phone you, or agree to a meeting.

Otherwise known as Marketing.

2. Conversion – how many of the leads you get become customers. Otherwise known as

Selling.

I am going to assume, somewhat dangerously, that your marketing activity is elegant and

effective. You have a targeted niche and by running several strategies you are able to

generate all the leads you require – if this is not the case, see my book Your Business

Rules OK for further details.

So we will start the process of selling and closing from the point at which initial contact is

made with a prospect.

Final point, one of the biggest limitations that a business can have is the ability to

effectively convert prospects to customers – once this has been systemised in a way that

generates results, the business can grow.

The main contributor to this unfortunate situation is that many people in business,

including some sales people, either don’t understand selling or they don’t want to be

perceived as a salesperson, so they avoid the activity of closing the deal at all costs.

So before you go any further, make sure that you are comfortable with selling, asking for

the money, closing the deal and shaking hands on an agreement at the end of a meeting –

if a sales meeting doesn’t result in a sale then it was just a coffee and a chat. It wasn’t a

sales meeting it was a tales meeting – a process of just telling stories to each other…


2. The Sales Process

Lesson 1 – people buy from people. They buy from people they like and they buy from

people they are like.

Simple…

All your prospects will know that you intend to sell them something, don’t disappoint

them, but rather, than selling use the “helping to buy” approach.

Lesson 2 – people like to buy but they don’t like being sold to.

So in order to be really effective at selling we have to get people to like us, and guide

them to a decision that involves becoming a customer of ours rather than of one of our

competitors.

People will buy from you when they believe that the investment they make and the

perceived risk associated with it are outweighed by their levels of trust and belief in the

product or service you are presenting.

Our job in sales is to establish a method where we overcome their Resistance.

All buying decisions are predominantly based upon emotion – we buy from people we like,

we buy from people we are like – people we “connect with”. Second, people buy in to a

vision – a belief that the product or service that is being offered will bring them a benefit

or move them towards an objective. These two emotional concepts combine to overcome

the “logical” or risk adverse part of people’s nature – the process can be expressed as a

formula;

Connection x Vision > Resistance

Or

C x V > R

Connection & Vision – needs to be established over a period of time, it may take a few

seconds if you are in retail, minutes, days or even months – it depends on the type of

business you are in. This is a process of building rapport, developing understanding and

constructing a relationship with the prospect before the actual sale is made. This is the

courtship process, and it runs according to a prescribed process that we can manage and

systemise in any business.


Now, remember, all businesses are different and whilst the process will apply, the levels and

timings may differ. If I am selling you a car for example then I will have a different method of

managing the process than if I was selling you a house, seminar, insurance or anything you can

think of – the process of selling in your business will be different…

The Buying Decision Process

The Chart above describes the 10 Stages involved with the conversion, or not, of a

prospect into a customer.

Red Line – level of Resistance, showing a value of 85 (the level of Resistance that we will

need to overcome in order to convert this prospect into a customer)

Blue Line – level of C x V, this is the only line we can control and we can influence the

relative values through our sales process.

Stage 1 – background ambivalence. Your prospect may never have heard of you, your

product or your service, they don’t know you, they have no relationship with you and in

fact may be slightly hostile or negative towards the mere prospect of being contacted,

called or marketed to. So we start the process at a -10 position, the position of rest for

most prospects before we get in contact.


Stage 2 – the Marketing works. Our message whether it be a call, advert, email or offer has

resulted in contact being made with us, a meeting set or a conversation booked.

It may also simply reflect a change or situation for the prospect, and that is why your

marketing activity should be continuous, even if it doesn’t get immediate results – some

people pick up the phone after the first touch from your business, others will need twenty

touches.

The relationship has begun, you are now registered in their minds and they are aware of

you. This will improve your relationship with them immediately so the value of C x V has

increased to + 20.

Stage 3 – a critical stage. Once the initial contact has been made the next stage of the

process must start immediately. The short dwell on the chart of the blue line at the 20

level will not last unless we take control and engage the prospect in a process of building

the relationship with you, your business and your products.

The potential here is that if the process does not maintain momentum, the lead will go

“cold” very quickly and the opportunity will disappear – this is the first moment of truth in

your sales process, your speed of response.

Stage 4 – the start of the relationship process. To be clear – stage 4 must follow stage 3

very quickly. The number of times I have seen huge marketing investment be wasted simply

because enquiries are not followed up efficiently. Try this out with a company, go online

and request information and see what happens – some are really good and have an

automatic response, or someone responds within 24hrs. Whilst others you will never hear

from – I do this a lot and I am amazed at the responses I get, or rather don’t...

Better still, try it on your own website – mystery shop your own business and see what

happens, or drop me a note and I will do it for you…

Stage 5 – relationship building. There are a number of ways to build the relationship with

your prospect, whether they are with you in the store, restaurant or showroom or whether

they are remote and only in contact by email and telephone. The objective here is to build

trust and rapport with them, allow them to get to know you and understand that your

product or service is in their best interests.

Note – as a professional, if you discover that your product or service is not actually in their

best interests, don’t sell it to them, refer them to someone who can help them. We are not

in the business of selling for the sake of selling; we are in the business of solving other

peoples purchasing challenges.


Different ways of developing the C x V depending on your situation;

a. With you “in store” – don’t sell to them, ask them questions. Find out about them, their needs and wants – don’t sell them anything yet, they are not ready, you don’t know what you need to help them to buy yet, and they don’t know if they can trust you yet.

b. Remote location – build the relationship with a series of “touches” which could include

sending them information, questionnaires to complete, telephone calls to find out how you

can help them etc.

The whole process you use guides them towards the point at which the deal can be closed,

the more elegant and professional your system is, the less “selling” you will have to do.

Stage 6 – the Sales meeting, the part of the process where it is appropriate for the sale to

be confirmed. We all know when this is coming, and can sense it as the ritual begins.

Whilst the C x V score is higher now than it ever has been it has not yet overtaken the level

of Resistance, so more work to be done; don’t close too soon. The meeting should be based

upon you asking questions and seeking clarification, settling any doubts the prospect may

have regarding you, your product or service and final details regarding specification,

colour, delivery and price are agreed. When the prospect starts to ask you questions about

your service or product at this stage – that is a buying signal, allow them to buy. You have

now entered the Green Zone on the graph, for the first time the levels of C x V are higher

than the Resistance and the deal can be closed.

Stage 7 - Allow them to buy, close the deal, shake hands, sign the form – whatever you

need to do that enables the deal to be confirmed. The Green Zone is your Closed Area and

represents your second moment of truth – it maybe a fleeting moment or maybe a few

minutes in duration – but if you miss it the opportunity is regularly lost, sometimes for

good.

When the sale is confirmed, you must have a next stage, a process that maintains their

enthusiasm and heads off the buyer’s remorse. This is where, after you have left, there is

nothing to keep the C x V levels up and as the values come down, they change their mind

and call you to cancel the order.

Stage 8 – if a sale is not closed, and for example the prospect says the classic “I’d like to

think about it...” objection, the C x V value drops almost instantly. They will not be

thinking about it, or you or your service and product. The truth is that you didn’t show

them the value, you may have never even entered the Green Zone, and rather than tell you

that they don’t trust you or your company, they will simply say “I’d like to think about it…”

At stage 8 the situation can be salvaged by maintaining a relationship with the prospect,

following up and keeping in touch. You will effectively return the process to stage 5 again

and may well have the opportunity of selling to them again in the future. Remember, it was

your process of selling that failed; the prospects process of resisting beat you. Your

responsibility and your opportunity to put right, don’t blame your prospects for not seeing

the value; it’s your job to demonstrate it to them in a manner that is compelling.


You need to adapt your selling process to match the buying process of your prospects,

not the other way round.

Stage 9 – free fall. Without professional follow up the relationship value of the C x V

continues to fall over a very short period. That is why follow up is critical, and the more

quickly it is done the better.

Stage 10 – mild bitterness. If the process is handled really badly, the prospect will have the

levels of C x V continue to drop to a level lower than that of the background ambivalence

they had before they had ever heard of you. At a level of – 25, all your marketing and sales

activity has produced is a person who dislikes you more than they did a month ago. Well

done…

Remember in business as in life, once a relationship comes to an end, there is the

possibility that the parties will become more adversarial at the end than they were before

it began. See notes on divorce settlement cases for evidence…

Finally – remember that at any time in the process your Prospect may decide to buy from

you, and your job is to allow them to. Don’t go through the whole process just because it

your system – it’s OK to take the cheque early…

For help with designing your Sales process, buy David’s book, Your Business

Rules OK by clicking HERE, download tools and templates from our website,

come along to one of our events, or email David at

[email protected]

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mailto:[email protected]


3. About Results Rules OK

Results Rules OK was created with a simple and clear 2020 vision;

To enable everyone to enjoy learning, achieving, doing and being more...

This is achieved through the delivery of World Class Business Coaching, Training, and

Development Programs designed for business owners and entrepreneurs just like you…

We recognise that all businesses are different, as are the people that build, own and run

them so we have a range of products and programs that will help, inspire and support you –

whatever stage of development your business is at…

You can register for our newsletter, check out David’s latest blog and even download

documents and templates from our website at www.resultsrulesok.com

If you’d like to come along to an event – either to join one of our Webinars or participate

in a Workshop or Seminar – click on the LINK to find our full schedule of events.

David is offers a limited number of FREE Business Strategy Sessions for qualifying

businesses, to arrange a meeting or discussion with David, simply got to our Home Page,

scroll down and press the “Book Free Session with David” button...

Our USP is our people, our delivery, the results our Clients achieve and our philosophy of

Fun in Life and in Business. We are a growing profitable business, and we believe in making

contributions to charity and causes that are aligned with our values.

David’s unique experience, background and passion for adding value to the business and

personal lives of others have enabled him to become not only a top Business Coach, but an

accomplished Speaker and Author. Having worked in 21 countries so far, his presentations

and key note presentations are compelling, informative and fun and his books reflect his

knowledge and personality…

David’s first two books are available now…

Buying David’s books in Hardback, Paperback or in

Kindle format is easy – just click on the LINK…

To check David’s schedule and arrange for him to

speak at your next event, or arrange a bespoke

program or workshop for your team – just drop us

an email at [email protected]

We look forward to hearing from you…

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If you have got this far then maybe we should talk…!

Contact Us;

Web – www.resultsrulesok.com

Email – [email protected]

Results Rules OK Ltd

55, Newhall Street,

Birmingham,

B3 3RB.

England

Tel - +44 (0)121 416 0023

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selling and closing

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