Episode 177 - The Truth is... Now You're in Sales

Custom Apparel Startups

Being a business owner means you wear many hats.

Project Manager. Production Manager. Financial Officer. Customer Service.

And yes… Sales Person.

Chances are you aren’t starting your business with a full time sales person on staff. You might be fortunate and be a natural born sales person. Or maybe your business partner is the sales person for your company (husband, wife, sibling, friend).

However, if you don’t come from a sales background there is a lot to learn.

One of the core parts of sales is Closing Deals, in other words, getting customers to say yes and pay you.

It’s easy to fumble the close. Saying the wrong thing, letting customers always postpone the deal, losing out to competition.

Today we are going to discuss traditional closing techniques and how you can use them.

The Now or Never Close (Create Urgency)

• This is a close where you offer a special deal or limited offer based on signing up right now.
• Right now my vendor has X shirt on sale. If you buy it today I can save you 10% or $200.
• I’ve got 50 of these shirts in stock on a deal, once they are gone I cannot sell them for that price.
• Prices all over are going up. The supplies I have in stock are at X price, but I’ll run out soon.
• I’m looking to fill up my production as I have a lot of jobs next month, but room for one right now. So if you buy now I can deliver faster, but if you wait, it will take longer.

The Recap Close

• This is where you recap everything the customer is going to get in a brief summary. Describe everything in detail so they are excited at the idea of getting it. Then ask for the business
• You are helping them visualize the deal.
• You are getting 50 shirts and 20 hats with your logo. Plus mugs you will get to give away to your clients (which they will love you for.) So we can get those in production this week. Do you want to put the deposit on a credit card?

The Quid Pro Quo Close

• Your customer may ask for a Deal. “Can you take $300 off?” This means you’ve got an opportunity to present a “favor for a favor” to close the deal now.
• Sure. Let’s do that. But in return, I’d like to sign you up right now. I’ve got to be very efficient to give you that price so I want to get the process started right away.
• Yes I can do that for you, but I’d like a favor from you too. I don’t normally pass out a deal like that, and don’t prefer quotes like that floating around. I can say you strong armed me with a promise to pay today.
• My partner doesn't like deals that slim. They are a challenge with maintaining profitability. However, if you close now, I'll have the excuse that I had to make an executive decision.

Question Closing

• This is where you ask a question that the customer agrees to, and therefore the deal is good for them. If they don’t say yes, then you need to dive deeper into helping them or understanding their needs.
• “Will this order meet your needs and fit within your budget?” Yes. Then let’s get it going so you can move on to more important things.
• "Have I covered everything you need and answered your questions? Does it all look good?" Yes. "Let’s close this up and get to production."
• "In your opinion, will this provide the solution you need for your business? Then let’s move forward and get your promotional goods in process."

Assumptive Close

• This is the power of confidence and positive thinking. Just assume they will say yes.
• “Ok, so I can send you the invoice right now and you can pay on your phone."
• "Do you prefer me send the payment via PayPal or with a credit card form?"
• "Let’s go ahead and look at the calendar to pick an estimated delivery date and time. Then I can collect a deposit and get to work for you."

The Takeaway

• This is when a customer isn’t sure of the price you are charging. So you remove something to make the deal fit their budget. Some people will then begin to think about what they aren’t getting and want to close the deal
• "Well, if this isn’t in your budget, we can go ahead and remove those mugs you talked about giving your clients. That should save you the money you need to fit your budget."
• "We can go with a less premium shirt. It won’t be quite as comfortable and long lasting but it will save you money and fit your budget. Not everyone buys the premium shirts."

Tips:

• Never lead with your cheapest product. Start a medium (better) quality shirt, or front and back print or 15 oz. mug. This way if you need to lower the price, you can sell a reduced feature item.
• Have wiggle room. If you have to make a min of $500 on this deal, don't offer a price where you make $500 right away. Start with a $600 profit or a $700-800 profit, so you can negotiate if needed
• Never take the first 'I'll think about it'. If they have to think about it, just politely ask them what they are considering or what concerns they have. They may have a concern that you can answer right away
• Be confident. Be sincere. Be Honest.

The most successful sales people just work hard, and take time to learn the craft. Just like anything else there are little things you can do to help get more deals handed to you!