Many thanks to each of you for entering the Closing Argument Contest by sharing your favorite closing argument.
The Winner is.........
Maureen Condon of Precision Marketing Group with this argument:
"Your price is too low"
Yes, you read it correctly. Here's the story. Precision Marketing Group was competing against a New York City agency. When both proposals were reviewed, the prospect told PMG their price was too low! The prospect felt that either PMG wasn't qualified or that he wouldn't receive as much as he would from the NYC agency with the higher price. Despite a great justification for their appropriate price and a great defense of their value, PMG lost the project.
Must admit this was a new one for me and proof that perception, however wrong, is reality. Here are some things you can try if you're ever faced with this argument:
Give the prospect an Offer Matrix - a simple spreadsheet listing every aspect of your services and compare them to a list of the prospects requirements and include your competitor's services to demonstrate where you are superior in meeting the prospect's needs
Provide real samples of each service element or product and suggest that the competitor do the same. If you're selling a product, give the prospect a loaner and let them try it out
Offer to add a service while raising the price to match or get closer to the competitor's price
Offer a money back guarantee if the client is not satisfied with the service or end product
Ask references to proactively contact the prospect to verify that they got exactly what you promised - on time, on budget and with the highest quality
The lesson in this: the market in which you work can determine the price to value ratio! Adjust your pricing to reflect the value ratio specific to the market, whether the price goes up or down.
Congratulations to Maureen! She has won a Closing Argument Poster and a funny T-Shirt with THE CLOSER logo and humorous successful closing responses.
More Closing Tips:
Winning the business is not the result of a clever closing line or manipulation tactic. Closing begins at the very beginning and is a continuous process of gaining agreement in each step of the sales process. Winning is the result of strong peformance in several selling process points:
Pitch - Probe - Presentation - Proposal
Ask these questions and think about how they relate to each of the selling process elements above:
When is your value introduced to the prospect?
How is it introduced?
Do you cite evidence to support your value statement?
Are you or your sales people asking questions that encourage meaningful dialogue? Questions that do more than just get the prospect to see their problem- great probing questions lead the prospect to see the problem in a new light.
Are you or your sales people effective at positioning against other options?
How effective are you in getting the customer to understand and "feel" the consequences of not buying?
What % of your proposal is devoted to the prospect's business and problems?
How much of your proposal is focused on persuading and convincing?
Catalytic Management specializes in business performance and growth
including sales effectiveness, customer service and business
process improvement for companies
in New England and the Northeast.