Closing Technique of the Week: The Takeaway Close

/, Psychology of Selling/Closing Technique of the Week: The Takeaway Close

Closing Technique of the Week: The Takeaway Close

mine, posessive, takeaway close, ownership, selfishness

So there you are, deep in the close. Fighting for the close like an elephant seal defending its territory. The customer is hammering you with price objections left and right. You’re out of room. The client still won’t budge even after you negotiated the price already. You are wondering if your manager will give you a bigger discount, to close the deal. Meanwhile, when you go to the manager they wonder why you aren’t strong enough to close it. The discount gets the sale but at the expense of your margin and your pride. It’s a sad truth but it happens to the best of us.

What if you flipped the script, on the client? The takeaway close does just that. Essentially, you shut the door completely for negotiations never to be opened again. This close takes confidence and persistence. It happens deep in the close. How it works is you have the proposal worked up for all their product and services. When the client requests a larger discount you hit them with the takeaway! They don’t expect a thing and it takes them off guard! You literally take items away from them. You state that you would love to give them even more; however, you are at your limit and the only way, to get to that price, is to take items away.

This technique works like a charm. If they like the idea of taking items off, you still get the deal at the price you would have discounted everything at anyway. When the client refuses to take items off, it’s checkmate. They just showed their cards that they want the items. There is no need to discount more.Typically, your client will respond with “I don’t want to take items away.” You should follow that by stating “Unfortunately, that is the only way we will be able to get you were you want to be.” This technique works beautifully with sets. In the furniture business, it is so laughable to mention taking away the matching night stands to a bedroom set. The client visualizes the set without the night stands and knows that would look awful.

Psychologically, the client starts to create ownership, of these products or services, and becomes possessive of them. It reminds me of those seagulls from Finding Nemo. Those possessive little birds that just repeat ‘mine’ crack me up. Now, the client may may test your limits and try and walk. It happens. But more times than not they look at each other and then decide to buy. Reality starts to form, in their head, and they know that the discount train is long gone. You will close more sales, by yourself, and have highers margins.

There are a few things that are needed to set you up for success, with this close. First, you need to have a few items, on the ticket or deal.  It would suffice if you had different packages or inventory options with price decreases to follow. Example: takeaway the gold package and downgrade to the silver package. Second, you need to know that your client wants the products or services (if you don’t know for sure this close tests the waters for that). If your client gets possessive they like everything enough to buy it. Third, you need to hold firm at not opening the discount door. It defeats the purpose to not stick to the plan and to go right back to discount selling.

Here are 6 tips to remember with the takeaway close:

  1. Reverse the script and takeaway items. Easier said than done because you lower the ticket amount. Not to worry this is a bluff technique and more times than not closes, at the first deal.
  2. Don’t keep hinting to a discount or better deal. Don’t pull the well let me talk to my manager card to fill the awkward silence.
  3. Shut up. Don’t talk. Silence is key. If you are not silent, in the close, you are talking yourself out of sales or margins.
  4. Give your client a positive! Always lead up a negative with a positive or alternative. Say “unfortunately, I cannot give you anymore off; however, I still do have the 12 month financing option if it’s about you not having the money!”
  5. Tonality is important with this technique. You want to have a concerning tone when you mention taking items away. Follow it up with a “but I don’t think you want to do that” and you are golden. For instance you say, “we could take off the protection plan but I know you want to protect your purchase with having kids and all.” Client responds with “yeah I definitely need that.” At this point, the client is sold on it and you just need to say, “you’re right so then would you like to go ahead and purchase everything then?”
  6. Give solutions to each objection. This concept is you giving your client a solution to get to their impossible price. You should always give your client a solution no matter what (here’s why that’s important). That is what this close does.

Try out the takeaway close and let me know what you think! I love this close. It is extremely effective and I am a fan of the psychology behind it. It flips the script and closes the chance for deeper discounts. A win, win!

Comment below your favorite learn about the takeaway close. Use this close and let me know how it works for you!

Go now and watch all those clients go ‘mine!’ Always remember when they say mine the deal is done! Ask for the sale and close it.

-Cody

By |2018-05-26T23:10:46-05:00May 26th, 2018|Closing Technique of the Week, Psychology of Selling|1 Comment

About the Author:

One Comment

  1. […] You will be able to create urgency with the close with a ‘now price.’ Make sure to keep the takeaway close in mind! It can help you place doubt, in your client’s mind, while creating ownership. Everything […]

Leave A Comment