Replace Risk with A Powerful Closing Tool: Risk Removal.

Replace Risk with A Powerful Closing Tool: Risk Removal.

Written By Jeffrey Gitomer
@GITOMER

KING OF SALES, The author of seventeen best-selling books including The Sales Bible, The Little Red Book of Selling, and The Little Gold Book of Yes! Attitude. His live coaching program, Sales Mastery, is available at gitomer.me.

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>#519Replace Risk with A Powerful Closing Tool: Risk Removal.

You’re closing in on the purchase.

You feel like you qualified the prospect, you know you’re nearly there, great presentation if you don’t say so yourself, but something is still missing. There’s a hesitancy and you can’t quite define it.

Let me help you. The prospect feels the RISK of purchase outweighs the REWARD of ownership.

You start to hear the usual stalls like, “I’ll think about it, call me back later.” (the kiss of death to a teetering transaction.) or the ever popular, “I have to talk this over with…” Rats.

So, what do you do? Keep selling? Not exactly — the simple answer is: just find out where the risk is, and remove it.

What is in the way of YES? What risk element is present that I can remove to close this deal?

Here are a few “inner voice” (unstated) risk fears that might be in the way of YES:

  • I really can’t afford this. I may not be able to make the payments.
  • I’ll buy it, get it home and it won’t work.
  • I’ll buy it, get it home and it will look awful!
  • I’ll buy it, the Boss will see my decision and explode.
  • I’ll buy it, then find out if I had looked around I could have bought it for 15% less.
  • I’ll buy it, and never use it.
  • I’ll buy it, then some newer (better) model will come along in two weeks, and I’ll be stuck with a piece of history.
  • I’ll buy it, and our employees won’t like it.
  • I’ll buy it, and be out all this money when I could have done without it in the first place.
  • I’ll buy it and it will go on sale next week.

    Get the drift? The Risk Factors are usually both invisible and unspoken because they expose the inner guts, feelings, and thoughts of the customer. REMEDY: You can bring up a few areas of suspicion in an effort to ameliorate and address the Fear; but sometimes it takes floating a few “risk removers” to discover what the “risk barrier” might be.

    Here are a few examples

  • If you’re concerned about whether or not it’ll work for you after you get it home, don’t worry, you can ALWAYS bring it back. (and add some peace of mind) We want you to be happy.
  • We sell lots of these to companies like yours. But if for any reason your company doesn’t like it, we offer a full refund or replacement.
  • We’re so sure about our competitive pricing on this item, that we’ll match any advertised or quoted price that you might discover for up to 45 days after you take delivery!

    Risk is real. And a real block to a sale.
    And too often salespeople misjudge risk for objection and continue to press for the close. (ever had a pushy salesman who seemed more interested in your wallet than your safety?)

    Risks are inner emotions that are judged and justified logically in the mind of the prospective purchaser.

    Since there is no “one” remedy. Sooooo, here’s what to do:
    1. Identify your risks.
    2. Create GREAT corresponding risk removers or even preventers.
    3. Try them out on prospects who resist for no stated reason.
    4. Master them so that your prospects buy more often.
    4.5 Teach them to everyone.

    I’VE SAVED THE BEST FOR LAST: There is ONE technique that can work to both find the risk, and close the deal. BUT it’s a delicate one that requires mastery through preparation and practice.

    The strategy is called: What’s the risk? What’s the reward? When a prospect hesitates, you simply ask him or her to list the risks of purchase. Actually write them down. Prompt others. If the prospect says “I’m not sure.” You ask, “could it be…” After you feel the list is complete, ask the prospect to list the rewards. Write them down, and embellish as much as possible without puking on the prospect.

    Then eliminate the risks one by one with lead in phrases like: Suppose we could… did you know that… I think we can… Then you simply ask, can you see any other reasons not to proceed?

    One at a time, brick by brick, remove the risks that the buyer perceives as fatal mistakes in his decision making process. Then drive home the rewards, both emotionally and logically.

    If the customer is qualified, has a stated need, wants it — and it has become risk free, then you have the reward. The order.

    Free GitBit…Want to know three risk alarms? Three ways to determine that “risk” may be the reason for non-purchase. Sure you do. Just go to www.Gitomer.com, register if you’re a first time user, and enter the word RISK in the GitBit box.

    Jeffrey Gitomer is the author of The Sales Bible, and Customer Satisfaction is Worthless, Customer Loyalty is Priceless. President of Charlotte-based Buy Gitomer, he gives seminars, runs annual sales meetings, and conducts internet training programs on selling and customer service at www.trainone.com. He can be reached at 704/333-1112 or e-mail to salesman@gitomer.com