How to Close a Sale
Wow, that's a promising blog title, eh? Don't worry. I intend on delivering. :)
A few weeks back, Top Lead Genorators posted about the "takeaway close," which involves upping the ante for the prospect, like presenting a limited time offer (for example) to get he or she off the purchasing fence. The idea, in essence, is to convey to prospects that a certain product or service is in high demand, and therefore valuable.
Why does the takeaway close work? Why do people, upon hearing they can't have something, want it more?Perhaps the motivator is scarcity, an imbalance in the supply and demand equation. The shorter the supply of something, the more it is valued. That's why gold has a much higher price than copper, even though copper has many more practical uses.
I agree. When Google's Gmail came out, it drove me insane that I couldn't get instant access to it. It didn't matter that I had two other email accounts—I wanted what I couldn't have.
Done right, I think the takeway close can be a beneficial tactic. Either way, you'll get the prospect off the fence, and that means you'll either:
A. gain a new client
B. stop wasting time on a wishy-washy prospect, giving you time to pursue others.
Learn more closing tips by checking out our article, Successful Closing Tips: How to Complete Your Lead. And don't forget to check out all the other great, free resources in our Agent Resource Center!
Comments
Interesting comments. I have never used a high-pressure tactic like that. And by the way...good luck to the Steelers tonight!
Posted by: Ed | September 7, 2006 05:26 PM
Hi I'm an intern and I'm fairly new to this whole insurance thing I was wondering if u culd maybe gimme some tips l
I just started workin for a comp and my boss gave me my first assignment and that was to get a list of ppl who wuld be willing to invest in the companies services can u tell me how I should go at contacting them and who exactly do I contact pls
Posted by: max | September 7, 2006 05:46 PM
Megan, this is a great tactic to help your closing ratio out, but I think Max has a good point on the potential of tying this "takeaway close" tactic to selling insurance. Thanks in advance!
Posted by: Evan | September 8, 2006 12:03 AM
Max, I'd be happy to help you; please email me at mmahan@insureme.com for more details about what you need.
Ed, would you be willing to share your less aggressive closing tips? We'd love to hear them!
Posted by: Megan Mahan | September 8, 2006 12:03 AM
Evan,
I hear what you're saying; I'd encourage you to check out our article to see how the takeaway close can apply to insurance sales. For example, discussing the consequences of fence-sitting, can often help a prospect lean one way or another. (See the article for more in-depth tips.)
I think the most important thing to remember here is that the takeaway must be done tactfully. In my opinion, the hard sell has lost its appeal. But done without bullying, I think the takeaway can be a good tool...think of it as "trial closing" taken to the next level.
Good thoughts, everyone. Keep 'em coming.
Posted by: Megan Mahan | September 8, 2006 12:11 AM
Hi Megan
Here is what I have been doing for the last 26 years. I sit to the left of the client at a sharp angle so that they can look me directly in the eye. I have an envelope of subliminal 3x5 cards that I place in front of them with phrases such as "buy now" and "you'll live longer if you buy now." And right before my close, I take out a deck of cards (I know this sounds odd) but I perform my three best tricks (it usually takes about 45 minutes). And then....OK. I'm just kidding about this. I hope NOBODY ever does this.
Actually, Megan, I didn't mean to shoot down your suggestion. In my case, I can't remember the last time I asked someone to buy anything. I'll use gentle emails and suggestions such as "Is there any other information we can provide?" or "If we write a policy, here is the process."
Regards
Ed
And the Steelers may need some luck Monday night with Ben out.
Posted by: Ed | September 12, 2006 08:34 PM
Hey Megan, thanks for your response, couldn't get back to it now. I appreciate the tip on the "takeaway close" and using it with the idea of the "trial close". I couldn't figure out how to link it with insurance, but you definitely made it make sense!
Posted by: Evan | September 15, 2006 02:56 AM