The Benjamin Franklin Close (also known as "The Balance Sheet Close") is one of the classic old time sales tactics used to close a sale. Never heard of it? Shame on you. Not enough sales training.
The scenario is this: You've made your presentation, but the prospect is on the fence and won't make up his or her mind. You've tried everything, but can't get them to budge.
Then you say, "Benjamin Franklin was one of our wisest citizens. Wouldn't you agree, Mr. Johnson?" (Get prospect's agreement.) "Whenever he was faced with a decision, and he had some pretty big ones back then, he would take a plain piece of paper, draw a line down the middle, and put a plus (+) on one half, and a minus (-) on the other."
"In his genius he discovered that by listing all the positive elements on the plus side of the paper, and the negative things on the minus side, the decision would become obvious. Pretty sound concept, agreed?" (Get prospect's agreement.)
"Let me show you how it works. Since you're having a tough time deciding, lets list the benefits -- some of the reasons you may want to purchase. Then we'll list the negatives. Fair enough?" (Get prospect's agreement.)
Now you list every good thing about your product or service. Get the prospect to say most of them. What the prospect says will be the main points of interest to him. Take your time to develop a complete list. THEN YOU SAY, “Okay, let's list the negatives.” Hand the pen to the prospect and push the list towards him. Don't say a word. The prospect will typically think of responses having to do with price or affordability.
In theory, this sounds like a good way to close a sale.
There’s one big problem with the Benjamin Franklin Close. It’s old world selling that doesn't work AND annoys the buyer. Try that close on someone who has ever taken a sales course, and it's an insult.
The reality of the sale is -- the prospect has already made up his mind -- he's just not telling you.
Should you forget it and never use the Ben Franklin Close? Heck no! Just use the Ben Franklin principle in a different way and do what Ben would have done. Figure out a new way, a better way, and use it.
Here's a powerful new way to re-use this classic close. Use it on yourself -- before you make the sales call. Use it as a preparation tool. Use it as a strategizing device. Use it to get ready to make a big sale.
Get a plain piece of paper (or your laptop), and draw a line down the middle of the page.
On the plus side...
• List the prospect's main needs.
• List the questions you want to ask.
Read the rest of this article here...
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Gateway To The West!
Gateway To Gitomer!
St. Louis, MO – September, 19th 2008
Join America's #1 Sales Trainer as he presents his runaway best-seller The Little Gold Book of YES! Attitude. Come learn how to find, build, and keep a YES! Attitude in sales for a lifetime of SUCCESS! This seminar is your personal guide to a YES! Attitude in every aspect of your business life and your personal life.
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If you would like to connect with my public seminar audiences, I recommend you inquire about the exclusive sponsorship opportunities I offer in each city. For details, call Sara or Paula at 800-242-5388 or email publicseminars@gitomer.com.
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Jeffrey,
I am looking for tips on picking up huge fumbles when things go wrong. Got Wisdom?
Kevin
Kevin,
There are two kinds of fumbles: your team fumbles or your competition fumbles. I’m assuming your question is about your competitor fumbling. As in football, you see the opening and you pick up the ball and run with it. The challenge is that everyone is chasing you. Here’s what to do: sit down with the customer where a fumble has occurred and ask them how the fumble occurred, and what effect it had on their business. Then ask the customer what they were hoping for and ask if you can have a chance or an opportunity to make that hope a reality. Whatever you do, don’t down the competition. They already screwed up and the customer knows they screwed up. The worst thing you can do is ‘pile on.’ Piling on is a 15-yard penalty. Add another penalty for unsportsmanlike conduct. Try at least for a partial order. Three points is better than none.
Best regards,
Jeffrey
Jeffrey,
I am changing industries but staying in the same relative territory. My day to day sales calls will be to all of the same businesses as I am used to while adding many more due to the diversity of the new industry I have chosen. I have been trying to come up with a way to explain my change in positions but am drawing a blank. It doesn't sound right to me, "Hey, remember me from my previous job?" Any help with this would be greatly appreciated being that I plan on hitting the ground running with this new job and do not want anything getting in the way.
Thank you,
Chris
Chris,
Have your company CEO send an announcement to your customers that you are advancing your career and have taken a position in order to further help your customers. Follow that with your personal letter, giving a one-paragraph explanation of how you’ll be able to help them in a better way. If someone else in your new company sends an announcement, it’s much better than you trying to do it on your own.
Best regards,
Jeffrey
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Authenticity: Using Your Genuine Story to Sell More Stuff
by Andrew Corbus and Bill Guertin
Being authentic in business is WAY more interesting than being fake.
Ever heard an ad that sounded like it was too good to be true? It probably was. And there are lots of people who probably feel the same way about YOUR message.
Are you being real and honest, or are you trying to be somebody you’re not?
Most businesses try to present themselves as the company they hope to be someday, instead of the company they really are. The truth is people WANT to know the truth about you.
Look at the popularity of ‘reality’ television shows. American Idol, Survivor, The Bachelor, The Apprentice, The Biggest Loser, and the others are all based on people being real. It’s unpredictable, and millions watch because they want to see how these people react to the different situations. It reveals what people are genuinely like on the inside.
And that’s what customers now want from the people they do business with.
They want to know your authentic story. Who you are, what you stand for, and what makes you different from everyone else.
Do you sound like everybody else, or does your voice stand out in the market you’re in? What are you doing about it?
We created the Four Laws of Authenticity to help you discover – or re-discover—that wonderful, powerful, and TRUE story that people want to know today. These Four Laws -- The Law of Freedom, The Law of Originality, The Law of Transparency, and The Law of Repeatability – are critical for you to learn and understand if your business is to be perceived as one that others can trust.
If you’ve ever heard a business shout about their ‘fast, friendly service,’ and you discovered as a customer that it wasn’t fast, friendly, OR service, you know what we’re talking about. You can’t afford to be thought of in this way.
Your genuine story is way better than anything you could possibly make up about yourself. The hard part is that most people are too close to their own story to be objective about it. It’s like being in a beauty contest where you’re the contestant AND the judge.
Today, people are smarter and more discerning than ever. They want to know who you are, what you stand for, and what makes you the right choice for them. They want to do business with people they know are giving it to them straight. The good news is that once they find you, they’ll tell everyone they know about you.
Create your authentic story, without hype or exaggeration, and you’ll be on the road to greater success. The Four Laws of Authenticity are your roadmap to that story. Find out more about the importance of Authenticity in business by clicking here.
Reality Sells. How real are you?
Andrew Corbus and Bill Guertin are the co-authors of Reality Sells: How to Bring Customers Back Again and Again By Marketing Your Genuine Story. Bill is a sought-after expert in sales and marketing, and is Chief Enthusiasm Officer (CEO) of The 800-Pound Gorilla (www.The800PoundGorilla.com), a business development company whose list of sales training clients include teams from the NBA, the NHL, and Major League Baseball. Andrew is a specialty food franchise owner/operator, an adjunct university professor in marketing and finance, and President of Authenticity Points, a business consulting company specializing in internal and external communication.
To learn more about Andrew and Bill, please visit www.RealitySells.com, or to buy their book Reality Sells at Amazon.com click here.
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Do Your homework – Eliminate the Obstacles!
If you prepare for the sale, you’ll be ready for the obstacles. If you prepare for the sale, you’ll be equipped with the answers. If you prepare for the sale, you’re doing yourself a favor. If you prepare for the sale, you’re doing the customer a favor. If you prepare for the sale, get ready for YES!
This week prepare to sell with a copy of Jeffrey's latest book The Sales Bible New Edition, and prepare for the obstacles with his Little Red Book of Sales Answers Video Podcast that contains 99.5 sales answers that make sense, make sales, and make MONEY. All for $69.00 ($129.00 Value)
Click here to buy now!!
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“Jeffrey, this was a picture taken at a ribbon cutting by the Greater Albuquerque Chamber of Commerce at one of the FedEx Kinko's stores in Albuquerque, New Mexico. I’ve read all your books and love getting the weekly email” -Mathew Truster
If you see Jeffrey, or Jeffrey's books
SEND US A PHOTO to ezine@gitomer.com.
If we post it, we'll send you a Sales Caffeine mug.
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“Jeffrey takes his original and timeless book The Sales Bible and updates it to today’s more modern world of sales. This book is the gold standard for people who want to learn the ultimate in sales techniques. I have already read the book many times and will continue to study it the rest of my life. I just hope my competition doesn't read it!” -Bruce
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Jeffrey's Sales Rant is a clip from his online training video library.
watch the rant now
(you need it)
Requires Flash player
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“The last 10 sales will show you the eleventh. Capture and repeat your success habits. Easy concept. So easy it’s never used.”
-From Jeffrey Gitomer's best-selling Little Red Book of Sales Answers
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“One of our sales reps was underperforming. TrainOne has helped to provide the skills and motivational support that allowed her to increase her average monthly gross margin from under $5k to over $20k. She's done so well that she won a Q4 contest we had and went to Cancun with our other top performers.” -Tim
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Your Success Story.
I own a Chicago-based software outsourcing company and I knew I had to be different from the 100's of "Bob's from Bangalore" that call my prospects so I decided to create a silly blog making fun of my own industry. It's been incredibly helpful in differentiating me from my competition, creating humor, and showing that I know my prospects' problems. I've also made a concerted effort to attend networking events regularly and it has skyrocketed my business. I even created a simple button with my "Software Sweatshop" slogan that I wear on my suit at networking events. It works like a charm. I don't even have to tell people what I do. I just ask questions and try to tell interesting stories to the people I meet. Self-deprecating humor helps me a ton also. With the economic downturn effecting people's purchasing decisions, I'm going to aggressively offer my software development services the rest of the year. I can and will grow my business and your reminders have been great. Keep up the good work. -Raza
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Each week, we feature a salesperson's success story. Please send your stories to gill@gitomer.com. If your story is published, we'll send you a free Sales Caffeine mug!
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What If I Make The Wrong Choice?
by: Robin Sieger I want to clear up something right away: no one in the history of the world has gone through life without making a wrong choice. I have often made the wrong choice in life with the best of intentions, and there have been occasions when I have made the wrong choice when it came to my career.
It’s part of the human condition. You tend to learn from your failures more than you learn from your successes. This holds you back and the more it happens the more and more risk averse you become.
When you have a big life changing decision to make such as a career change, you are naturally enthusiastic about the future and keen to see a smooth and...Read the rest of this article
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Trying to get without first giving is as fruitless as trying to reap without having sown.
The Bible states that we reap what we sow. The most fertile soil in the world is barren unless seeds have been properly planted, cultivated, and nurtured. The relationship between giving and getting is constant in everything you do. To succeed in any endeavor, you must first invest a generous portion of your time and talents if you expect ever to earn a return on your investment. You have to give before you get. It’s all a matter of attitude. You may occasionally be disappointed if you are not rewarded for your efforts, but if you demand payment for your services before you render them, you can expect a lifetime of disappointment and frustration. If you cheerfully do your best before asking for any compensation, you can expect a bountiful harvest of the greatest rewards life has to offer.
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