Whether you're a veteran salesperson or a newbie, the strategies outlined in Secrets of a Master Closer will help you to up your selling game.
Introduction
Secrets of a Master Closer
How would you rank your ability to sell your products or your services?And how do you stand out when you’re competing against so many people selling online these days? Many influencers are able to easily sell their products because they have a following of true fans who want everything they have to offer.
But what about the rest of us who do not have the high numbers of followers? Instead of trying to figure out what others are doing to sell their products and services, I’m reading top sales books to create a strategy for myself. Secrets of a Master Closer by Mike Kaplan is one of the books that I read. It’s often said that you don’t know what you don’t know and man was that ever true or me.
This book was very eye-opening. The author provides many examples in the book, so you understand exactly what he’s saying. And at the end of each chapter, there are questions to test your knowledge of what was covered in the chapter. Secrets of a Master Closer is for people who want to maximize their ability to sell or maximize the ability of others to sell. This includes entrepreneurs, business owners, negotiators, salespeople, and sales managers.
Have you read?
Sell It Like Serhant by Ryan Serhant, Summary
The Art of Selling Yourself by Adam Riccoboni and Daniel Callaghan
Summary: Secrets of a Master Closer
You need to understand and know the underlying basics of selling. There is a step-by-step process that will allow you to sell more than ever. If you want to become a master at sales, you need to know and understand the underlying principles and fundamentals of selling.
Definition of Selling
Selling is the process of persuading or convincing someone to buy your product, service or idea.
Process: A series of organized actions directed to some end. To be successful at anything, you have to understand and completely know the process involved in the thing.
Like Stephen Covey said, start with the end in mind. Then you work backwards. This is the same for sales. You want to do this to discover any gaps in the process. This is what Mike Kaplan did, which allowed him to become world-class at closing sales.
The Eight-Step Roadmap to Unlimited Sales
When Mike Kaplan started with the customer buying the product and working his way backwards, this is what he came up with.
The prospect owns the product.
- Buys the product.
- Wants the product.
- Aware of the product, and how it solves his or her problem.
- Attention directed to product features and benefits.
- Wants problems solved and wants solutions.
- Problem found.
- Qualified.
- Introduction. And this is usually a pre-presentation
Three Stages of Selling
- Pre-presentation.
- Presentation.
- Close.
The process in your company may need a tweak. So start it with the end and work your way backwards to determine if there are any gaps in the sales process.
3 Types of Salespeople
- Order takers.
- Presenters.
- Closers.
The more able and willing you are to control or direct your prospect, in a positive manner, through the steps of the road map, the more sales and money, you will earn.
Order taker: Processes the order that comes from the prospect. They don't cause the sales to occur. They can answer questions.
Presenter: Presents product or service to prospect. Informs and enlightens about features and benefits. Lacks control and direction of prospect on the other vital steps of an eight-step road map. They know the details of the product or service and can answer any questions.
Closer: Specializes in completing or closing sales.
“A closer knows how to control and direct the prospect's attention throughout each step of the sales and is willing to do so.”
You want to be a closer if you want to sell more products. You're in full control and don't want to leave anything up to chance. A closer has excellent persuasion skills. They use presentations as a tool. And they know the steps to take to get someone to buy, and have the know how and confidence to do it.
Closer: Has full control – causes sales to happen systematically.
Presenter: Has some control, occasionally causes sales to occur.
Order taker: Has little or no control – rarely causes sales to happen.
Closer Focuses on 3 Things
Closer knows,
- How to create opportunities to close.
- When to close.
- How to close.
Nearly every sale, after first contact has been made, started with an introduction.
The purpose of the Introduction is to grab the prospect’s attention and establish control of the conversation.
This is the process.
- Briefly tell the prospect who you are and why you're calling.
- Get agreement from prospect to be asked questions and a willingness to listen to what you have to say.
- Tell the prospect you want to see if you can be of service.
Keep it simple, using as few words as possible. Before spending too much time with a prospect, qualify him or her first.
Qualified Prospect
- Uses the product.
- Authorizes purchase or can get it authorized.
- Pay for it.
You want to know as quickly as possible. If it's a real prospect. The qualification step can be quick.
Find the Problems
Find out the prospects problems or desires.
“A master closer wants to find the prospect’s biggest problems, concerning needs, wants, and desires he knows his product or service can solve or fulfill.”
Problems or desires are the entrance point to sale.
Products and services are solutions. The prospect buys a solution to problems that he wants to solve. Closer wants to discover the problems before he starts the presentation for the following reason.
3 Reasons Why a Master Closer Wants to Discover Problems Before The Presentation
- Makes the prospect aware of problems he may not have thought about or cared enough about to want to solve resulting in him being eager to hear the presentation.
- Tells the Closer how to customize her presentation. So, she says only those things that solve that prospect’s specific problems. This allows the Closer to direct the prospect, keep his attention on the sale, and build interest in the product or service.
- Closer can use the problems found and the need to solve them as “hot buttons” to “push” (mention) throughout the sale to move the prospect through his resistance or objections to buying.
Understand what the product or service provides for the prospect. Mention the benefits from those features that the prospects will enjoy.
People buy solutions to problems and satisfaction of desires. Benefits answer what's in it for me.
Example: People don't buy courses or training., what they do buy are:
- Career advancement
- Job security
- Higher salaries.
What do your prospects desire?
Before you can sell a prospect your solution, you have to find their problems.
How to Find Prospect’s Unique Problems or Desires
- Ask questions that uncover them.
- Mention problems or desires that the closer feels may exist.
Example:
“What problems do you run into when _________?”
“Is __________ ever, a problem for you?”
“Is there a need in your business to ___________?”
“Would it be a big benefit to you if you were able to __________?”
“Have you ever missed an opportunity to __________ because you _________?”
“What benefits do you look for in ___________?”
When a prospect answers the about questions, ask more questions.
Set-up Presentation
Introduction Step
The prospect knows you and the reason for your calls, and that you're there to help, and who has agreed to be asked questions.
Qualify
Prospect can use your product, can authorize purchasing it, and can pay for it.
Find the Problem Step
By asking questions you've uncovered the prospects specific hot problems your product or service can solve. Selling is the process of getting small agreements or closes. This leads to the major agreement or close. After you uncover the prospect’s problems, you need two specific smaller agreements.
- Closer wants the prospect to agree the problem or desires found are important, and need to be solved, or fulfilled. The closer sells the problems to the prospect before selling the product or service.
- The Closer wants the prospect to agree to closer’s solution to the problems.
Closer takes the hottest problems, and then sells them to the prospect, getting her to see them as problems. He builds the problems. Before a closer sells the prospect, the solution, he will first sell the prospect his own problem.
While setting up the presentation is its own step done prior to setting up the overall presentation, it’s also ideally used during the presentation. to set up specific features and benefits.
Purpose of Presentation
The primary purpose of the presentation is to create opportunities to close. A closing opportunity is a moment where the prospect gives a signal that he might have enough interest in the product or service to buy it.
The difference between a closer and a presenter is that a presenter gives a complete presentation, and may not create a single closing opportunity. Or when she does, she often misses it. A closer uses the presentation as a tool to create closing opportunities.
When the closer recognizes buy signals, he immediately goes for the close. The closer crafts or customizes the presentation according to the problems or needs uncovered. He knows which features of her product or service will solve the problem that the prospect wants and what benefits will appeal to him. Give the benefits when mentioning the features.
Problem → Set-Up → Solution (Feature) → Benefit
The Closer creates closing opportunities with the presentation by getting a series of small agreements, from the prospect regarding the solution he is selling. A series of agreements form a ‘yes. pattern and builds interest in the product or service. He uses the presentation as a tool that ultimately creates opportunities.
Gaining Agreement = Building Momentum
A successful closing never loses sight of where he is on the road map, and always gets back on track. When you create an opportunity to close a sale during a presentation, stop the presentation and smoothly and quickly move to the closing step.
Closing opportunities. The moment the prospect gives buy signals that he has enough interest in the product or service to buy, your purpose is to close a sale.
Examples of Buying Signals:
“Yes, send it to me.”
“This is exactly what I've been looking for.”
“This would help me, _______.”
“What size does it come in?”
Buying signals could also be more subtle. An example, smiling and nodding in the presentation. Prospect makes agreeable sounds like uh huh, uh huh. You should be making closes throughout the sales process. The whole sales process is a series of closes ending with a final close.
2 Separate Steps in Final Close
- Prospect closed on wanting product or service.
- The prospect closed on price and terms.
You can't have number two without number one. For a prospect to agree to the price and terms, and ultimately make the purchase, she has to see that the value of the product or service meets or exceeds the price.
Always tell or direct the prospect what to do. Never leave it up to him or her.
Negotiation
It’s the act of reaching an agreement through discussion and compromise. Compromise is when both sides agree to accept less than they originally wanted. A prospect won't agree to your price and terms if she isn't first closed on wanting the product or service.
Only after the Closer confirms that the prospect is fully closed on wanting the product or service will he then offer discounts or incentives to get the prospect to buy now.
The building blocks of a closed sale are the steps of the eight-step road map. If a salesperson completes each step with qualified prospects he or she will end up with a closed sale.
Salespeople fear objections. Objections can happen at any time during the sales process. They’re part of the sales process. A closer is never surprised because he or she is prepared.
Closers know how to handle objections and get back into the eight-step road map. A closer knows how to use objections to create closing opportunities.
A closer is always confident and positive. Sales can take many closing attempts. A closer’s attitude is, “I’ll close, no matter what!”
Objections Handling Formula
Objection Handling Formula #1:
- Acknowledge that you heard what the prospect said.
- Continue on the eight-step road map.
An example is:
“The economy's bad.”
“ I don't want to spend any money.”
“Business has been slow.”
Objection handling Formula # 2:
- Answer the objection.
- Close.
Don't cut off the prospect, even if you can anticipate what she's going to say. The purpose of answering an objection is to create a closing opportunity. The book has many examples of this.
Objection Handling Formula #3:
This is the Closer’s formula. Closer uses it to handle legitimate objections.
- Question the objection.
- Isolate the objection, and set up the close.
- Answer the objection.
- Close.
The purpose of this formula is to isolate the real objection and create opportunities to close. The closer knows he's going to have to be persistent and often push his prospect through resistance to close. Prospect’s comfort zone is a state where she feels secure, comfortable, and in control.
Formula to help resolve an upset prospect and set them back into comfort zone.
- Spot it.
- Stop selling.
- Resolve the upset.
- Resume selling.
The closer is always working to get the prospect as far along the eight-step road map, as possible. If there was a step before the Introduction on the eight-step road map, it would be Leads.
A lead is a name of a prospect or potential buyer, along with contact information. Leads are raw materials that a salesperson must have, otherwise there is no one to sell your product or service to.
You get leads from the following sources.
- Advertising.
- Customer database.
- Cold Calling.
- Compiled lists.
- Referrals and word of mouth.
- Trade Show.
The higher the quality of the lead, the greater the prospects interest, the more it costs to generate a close. The Closer is skilled at closing any type of lead. As long as the prospect is qualified, the closer knows he can and will build interest using the road map.
The quality of the leads, plus the level of hard work, plus the level of closing skills, equals the number of sales. In Secrets of a Master Closer, Mike Kaplan tells you how to manage your leads.
(Leads X A) + (Work X B) + (Skills X C) = # of Sales
A = Level of quality.
B = Level of hard work.
C = Level of Skill
A great way to maximize the amount of hot leads is to ask for referrals from your new customers after each close.
Are you willing to learn and assume the character traits of a closer.
Personality Traits of a Closer
- Conviction
- Honesty
- Control
- Interested
- Energetic
- Positive outlook
- Problem Solver
- Persistent
- Hard working
- Goal oriented
- Focused
- High standards
- Initiative
- Knowledgeable
- Team player
- Responsible
On the Secrets of a Master Closer’s website you can get the Newly Hired Closer Checklists and the 8-Step Road Map.
Secrets of a Master CloserSell It Like Serhant/Way of the WolfGap Selling
This article contains Amazon affiliate links, which means if you click on a link and buy any of the books or other products from them, the companies will pay me a small commission.
