The Bargaining and Closing stage: Making concessions, The techniques

The bargaining and closing stage in sales is the final stage of the sales process, where the salesperson and the customer negotiate the terms of the sale and finalize the purchase. One important aspect of this stage is making concessions, or giving something up in exchange for something else.

Here are some common techniques that salespeople can use to make concessions during the bargaining and closing stage:

The “If…then” technique: The salesperson offers a concession, but only if the customer agrees to a specific condition. For example, the salesperson might say, “If you agree to purchase today, I can offer you a 10% discount.”

The “Splitting the difference” technique: The salesperson and the customer both make a concession, and then split the difference between the two offers. For example, if the salesperson offers a price of $100 and the customer offers $80, they might settle on a price of $90.

The “Nibbling” technique: The salesperson offers a small concession after the customer has already agreed to the sale. For example, the salesperson might say, “If you agree to the purchase now, I can throw in a free accessory.”

The “Trade-off” technique: The salesperson offers a concession in exchange for a concession from the customer. For example, the salesperson might say, “If you agree to purchase today, I can offer you free shipping, but I’ll need you to commit to a larger order in the future.”

It’s important for salespeople to use concessions strategically and to avoid giving away too much too quickly. By using these techniques effectively, salespeople can build rapport with the customer, establish a win-win outcome, and ultimately close the sale.

Closing Techniques, Confirming techniques

Closing techniques are used by salespeople to persuade customers to make a purchase. They can help salespeople to close a sale by addressing any objections the customer may have and reinforcing the benefits of the product or service. Here are some common closing techniques:

The “Assumptive” close: The salesperson assumes that the customer is ready to make a purchase and moves to close the sale. For example, the salesperson might say, “Shall I go ahead and process your order now?”

The “Alternative” close: The salesperson offers the customer a choice between two options, both of which lead to a sale. For example, the salesperson might say, “Would you prefer to pay by credit card or check?”

The “Fear of loss” close: The salesperson emphasizes what the customer stands to lose if they don’t make a purchase. For example, the salesperson might say, “If you don’t purchase now, the sale price will expire at the end of the day.”

The “Urgency” close: The salesperson creates a sense of urgency by emphasizing a limited time offer or a low stock level. For example, the salesperson might say, “We only have a few left in stock, so if you want to take advantage of this deal, you need to act fast.”

Confirming techniques are used by salespeople to confirm that the customer is ready to make a purchase. These techniques can help salespeople to avoid misunderstandings and ensure that the customer is satisfied with the purchase. Here are some common confirming techniques:

The “Trial close” technique: The salesperson asks a series of questions to gauge the customer’s interest and willingness to purchase. For example, the salesperson might say, “So, do you like what you see so far?”

The “Summary close” technique: The salesperson summarizes the key features and benefits of the product or service to confirm that the customer is interested. For example, the salesperson might say, “So, just to recap, you like the fact that this product is durable, eco-friendly, and affordable, is that right?”

he “Affirmative” technique: The salesperson asks a direct question to confirm the customer’s intent to purchase. For example, the salesperson might say, “So, are you ready to make the purchase today?”

By using these closing and confirming techniques, salespeople can increase their chances of closing a sale and building long-term relationships with customers.