I want to think about it

sfrenkel I can appreciate what you said.I also understand how you can think this way. I can tell by ther way you answer many questions and concerns you put a lot of thought towards the answer and reasons. This also leads me to the conclusion you already know and understand the terms of the loan.I cannot imagine you not being prepared with information. Exactly what is the real reason you need to think more on the terms.

I am using the car analogy only due to it being used. I base my decision on many factors. I watched my father while he purchased cars for him and helping to purchase cars for his 7 children and in turn I have purchased many cars for my wife and I and our 3 children.We have an idea what is a fair price and the interest rate I want to pay and how much I am willing to overstep what I want to pay. I as a sales techncian also understand that this is not the first rodeo for most of my clients.


The I have to think about it is a smoke screen that needs to be addressed to find out exactly what there is to think about.


Facts that are known. They love the car,price seems fair,can drive off with the car,insurance is available.Unknowns. trust of the sales person and company.
I do agree putting the client in a defensive position telling the client that you have done what they asked and still they have put the decision off. Let me know your reason for not doing your part of our bargin, is a horrible idea.One that will lose more sales then gain.Instead of being clever simply ask Mr. Client would you mind telling me what it is that needs to be thought over? Using the door knob close. Mr. Client would you tell me the real reason you are not going forward today with my proposal.

Stephen brings up a good point. This is why it's important to NOT skip any steps in the sales process. If I was to skip the interview and build rapport, I may try to use the close I stated above, and would probably lose the customer. You must know your customer. For a customer like Stephen I would realize that he isn't completely ready to buy and therefor would present it differently

"Now Stephen, I know you are not 100% ready to purchase today. I do realize it is the second biggest decision you have to make in your life time, and by all means I don't like to pressure someone into a purchase as big as this. Just curious though, is there a "Magic" number that you had in mind, that if we were able to get to you would jump on the deal right now? (Prepare for a ridiculus offer. I get Free as a response alot of times). <Laugh> Yeah I know I would jump at that deal to! But in all seriousness, I'm sure you had a specific number in mind when you came in right? And that number is? So if I can get you close to the number that you already had in mind, what else would keep you from taking ownership today?"

This are all soft commitments, and would be done before I present numbers. If still can't get customer to commit then I would go to..
"Well Stephen I perfectly understand your position. Before I sold cars I use to buy them and I was always nervous to. I'd hate to show you numbers now, because they wouldn't be true numbers. When you are ready to buy let me know so I can get you the best deal possible. I've never lost a customer over price, and I promise when you are ready to buy that you will leave here EXTREMELY happy."

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"Think it over" means one of three things in almost all cases.

They are:

• It is a convenient way to stall and not reveal the REAL objection or concern which is often the money.
• It is a hardwired part of some people's buying process that requires hesitating before making a final decision, often expressed as "sleeping on it". Some couples actually have a pact to do this in their larger purchases.
• It is a result of lack full confidence which is more a fear of making a bad decision rather than a goal to make a good decision. Most "shoppers" shop out of such a fear.

In order to effectively move forward with any of those three, you have to be able to discern which category the prospect falls into. "Think it over.." should not come as a surprise to an experienced salesperson. Trial closes, and minor agreements during the sales process will help determine where the prospect's mind is at.

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Well put, Ace.

It's important to consider all of those as possibilities (and to ask good questions that will hopefully give you a better sense of the situation at hand), rather than make assumptions that you know where the buyer is coming from.

There's a different, appropriate and effective response for each of these circumstances.

Stephen

Most of my sales involve us asking our clients to "think it over". We almost NEVER try to sell on the first meeting, but to give them information, try to motivate if necessary,and by this it is meant to get them thinking where our products would help them if they suffered some catastrophe in their lives, like a cut finger, for example....

When we see them for a final meeting, it is with the understanding that we are meeting to move forward, go ahead with, to wrap up their choice for enrollment, enroll in your coverage choice, etc.

There are times when wanting them to "think it over" is not a bad thing, maybe not when buying a car, but in the financial products arena we're quite happy to design something for them in the work place and have them take it home to get approval from the spouse.

So far, our cancellation rate over thousands of policies is less than 50 in almost 8 years of doing this, and once issued, our cancellation rate is probably less than 20.

There are times when you may also want to sit down with both spouses to come to agreement.

Aloha....

After 4 years in timeshare which is 'Decision on the Day', once you build trust, its time to break the pact.

Couples, business people, everybody makes pacts.........

DOD's happen because you didn't break the pact, they dont trust you or your product.

I'm not sure I understand your last sentence.

The category in which I referred to a "pact" has been something I have dealt with many times--almost always successfully. I've said it before on this forum. You take the process-driven into tasks, and take the task-driven into a process. A Closing Paradox.

You've said it before on this forum...

Right but who's heard it. Like I know intuitively what you mean by a pact... or even the process driven into task and take the task-driven into a process....

Why don't you explain that for me.....

The problem here is if read this correctly, only one closing effort was made. The idea here is close often and close early and get the no's out of the way early in the game. A well structured approach is necessary.

Trial close, trial close, close, close, close. Certainly your chances of closing this client go down exponentially if they walk out he door... period. It is also very important to realize a qualified client can't say "no" more than 5 times. Pull out your play book of closes..........Do you know how many times some of my favorite customers said the same thing, after they understood the benefits of my product, they didn't feel that way anymore.

Other salesman/sales ladies I have seen say, do you know if I had a dollar for every time I heard that I would be a millionaire & LOL. I generally don't go that route because if they were truly a millionaire they wouldn't be on the sales floor.

j.p.o

Great point, and that is speaking as one former time share junkie to another.

Your not gonna let sleeping on it sway you from vacationing in Paradise are you "Sharon". Shift fire & take out the other party