Closing Technique of the Week: The Option Close

//Closing Technique of the Week: The Option Close

Closing Technique of the Week: The Option Close

The option close is a simple yet effective close. It involves giving the client two options with an ask to buy. Keep in mind that you want to keep this to two… not three… not five… but two options. The reason this is important because the more options you give your clients the more confused they may get. You don’t want to get bogged down with too many options, figures, and what ifs. If the options presented are not right more times than not your client will tell you that and then you can adapt.

This close is most effective when you are presenting figures in writing. I found this very effective with financing options. A closing scenario would sound something like “alright, (name) I calculated those figures for you and we have two options for you in regards to the financing terms. If you financed for the 12 months 0% you would be looking at only $292/mo (assuming it’s a $3,500 purchase) OR if you opted into our 24 months 0% you would be looking at only $153/mo, the only difference is you pay an a little bit more for you total if you take the longer term since we can’t offer you as big of a discount. Which one do you want to go with today?”

Keep it nice and simple and put it in writing so people can comprehend and picture the numbers. The more complicated something is the easier it is to think about it. We have all heard the “I need to think about it” excuse. DEADLY in the realm of sales.

What Happens if The Two Options are Not Right for the Client?

Salespeople tend to have this doubt in their mind with this technique. Hopefully, you have done a fantastic job asking fact finding questions to get an idea of what your client is needing. For instance you should know what product they’re between, if they are financing or paying outright, their timeline, the problem they are facing, the quantity they need, etc. If you are asking the right questions you should have it narrowed down enough for them to give them two options tailored to their needs.

There are times where the two options presented are still not right. Not to worry you got this because all you have to do is adapt. The best closers adapt and change courses multiple times throughout the sale. If the options presented are not fitting, ask the client “what would be an option that would better fit your or your business’s needs?” or “what are you needing to get this deal done?” Those are some hard questions you can use to find the perfect fit. It’s alright if you fail the first option you get but don’t stop there, always provide another solution (more on that here with Sales: The Mental Chess Game).

The key is that you need to be on your toes ready to dodge and duck the objections. Always give that solution to the problem at hand. Keep your enthusiasm high and energetic. If you client shoots down those options and give you excuses then answer with great news. This example is based off the earlier one where the 12 or 24 month options are not the best fit. It would look something like “(name), I completely understand that these payments are still too high. I am so glad you brought that up because I have a better option that would be perfect for you. If we did this purchase at 48 months 0% it would bring your payments all the way down to only $83/mo. Same thing as before where you pay a little bit more but that monthly payment is exactly what would fit for your budget. Do you want to go ahead and do that option then?”

Be positive and keep offering solutions. You never know which one is going to take and what works best for you client.

Watch Out for These Common Salesman Mistakes

We are all human and make mistakes. Here are some common mistakes that happen with this close to shoot yourself in the foot.

  • Don’t give more than two options. Remember do not overwhelm your client.
  • Don’t assume an option won’t work for your client. Hear it from the horse’s mouth. I see a lot of salespeople not give options because of something they assume based on an earlier interaction.
  • Don’t fear giving people options. I found that sometimes salespeople fear giving options if the client has to pay more in the long run. Those financing scenarios had that example in them but you never know what works best for your client. We have to be a consultant for them and find them the best option for them at that given time.
  • Don’t forget to ask the client to buy. Saying “would you want the red one or the blue one?” isn’t asking them to buy. I WOULD want the red one… WOULD has no commitment. Do you want, want to buy, want to go with, etc. all are asking to buy and if you put ‘today’ at the end of that statement it is even more clear.
  • If an option is not the best, give another solution. Remember not to stop the first time you hear more. Counter with an even better option and you will be surprised with the results.

The option close can help you close a ton of sales. Always remember that you need an arsenal of closes with most interactions. If you need some more closing techniques check out my piggy bank close or if close or the reduce the ridiculous close. Multiple techniques will help you get deeper in the close and increases the chances to get the deal done. More deals equals more money and success for you! Get after it and persist.

Please comment your favorite learn from this post! If you like it please share with your friends and subscribe to my blog!

Keep honing your skills so you are confident with the close!

-Cody

By |2018-06-22T11:27:44+00:00June 22nd, 2018|Closing Technique of the Week|3 Comments

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3 Comments

  1. Kendall July 11, 2018 at 10:02 pm - Reply

    I think it’s very smart to present numbers on paper. I would find it a lot easier to think through the options with physical copies of the choices. I like how you emphasize finding the right choice for your customer by adapting. Several times I have felt that a salesmen doesn’t listen to what I actually want and just tries to push a product. Thank you for working for your customer!

    • Cody July 12, 2018 at 11:06 am - Reply

      Thanks for sharing Kendall! Most of the times when that is happening it is just a salesperson that does not care about you. All they do is try to get at your pocketbook by forcing their product or service on you. To me that is a huge turnoff. Not only that but people can sense their intentions.

  2. […] Combine with the option close. A great way to assume the sale is to ask how the client would prefer to pay for or receive their product or service. You can ask “will you be paying with credit card or financing today?” or “would you prefer to pick this up today or have us deliver it?” You’re simultaneously asking to buy while not even giving the option to not buy. Both results equal the sale. Check out my post on the option close here. […]

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