Blog | Personal development

Neglected but Critical elements of Closing

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When closing a sale, remember the only reason to spend money with you is to save money, make money or get satisfaction.

If a prospect is buying something that they have never bought before, you cannot assume that they are going to connect the dots of how they are going to make this money back.

It is critical, when decision-making time comes and you start giving pricing, to give them an idea of the return on that investment.

For example, if I am selling a sales-training program, I am going to talk about its features and benefits. By the way, that program costs $1,000 for two days.

It is an amazing program. It will tell you step by step how to make a powerful presentation and close it. That $1,000 could generate anywhere from $5,000 to $10,000, maybe more.

Let’s assume a 10-times return on your investment. Where else in the world can you get that kind of return? You cannot do it in the stock market or with property, Bitcoin, gold or silver. It is probably the best investment that you can make.

That is just one month over the course of a year. That $10,000 becomes $120,000 extra US dollars in your pocket. Would that be good?

If you choose not to take the program, you just saved $1,000 but you lost $120,000 that could be in your bank account.

I feel badly for you because you had the opportunity and you did not take it. Your business and your family suffer as a result.

Education is probably one of the best investments that can put money in your pocket.

Also, make sure you have at least two or three good testimonials and case studies that are similar to the person or the group you are talking to. When you lay out a price, use this to show return on investment.

A person by the name of Frank took this $1,000 program a couple of months ago. He sells apps online and, just based upon a few of the techniques that he learned how to present, he generated $10,000 extra within 30 days of his taking that course. He has not looked back since.

I am not saying that happens for everybody, but Frank made an extra $10,000 by coming to that $1,000 program.

That is a fairly good return. I am not saying it is going to work every single time, but it certainly will help you quite a bit. Why? Because you know more about your product and service and what it can do than the person you are talking to does.

The case study will give them real numbers and examples. This is what this person made or saved or earned or what they valued out of it. Using that example, if we did that to you on your $1,000 budget, what would that extrapolate out to be?

You have made a compelling argument as to why a person should invest with you. If you are raising capital, they would definitely want to know what their return is.

Return on investment could be happiness. It does not have to be money. It could be time. It could be the quality of a relationship.

If they were on the verge of divorce and came to a relationship program as a last resort, not only is their relationship better than ever but they have carved out special time for themselves each week.

They report back that they are more in love now than ever before. They look forward to another 20 great years in their relationship.

If the relationship that you are in now could improve to the level of feeling like a newlywed again and being in more bliss for the next 20 years, would it be worth it?

You could save $1,000 but then what happens to the other the next 20 years?

It is not the money that you do not spend. It is the happiness you could have had if you had received the right training. You can learn more about every step in the sales process by reading SalesDogs: You Don’t Have to be an Attack Dog to be Successful in Sales.

By the way, I do not have a relationship course and I just made those stories up, but again you want to be able to connect the dots for the customer.

Be amazing.

Original publish date: July 20, 2020

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