Offer Financial Benefits
Payment facilities are an easy and yet not commonly used facility available as a closing solution in the case of Luxury brands. In some countries, such as Japan and the USA, it’s part of common retail practice. Payment facilities could be proposed with the cooperation of credit companies.
Proposing financing solutions is also an easy and effective way to close a sale.
Henry: “Mr. Hudson we also extend our services to financing solutions.
With your very exclusive choice we can offer you the best possible loan and insurance rate. You basically have different options depending on the initial down payment.”
John: “It’s good to know. Are you offering a better rate than banks?”
Henry: “We are certainly offering very good rates. Nearly 100% of our customers choose to buy finance with us through our financial partners.”
John: “Okay, that will be easier. Let me think about it and anyway it’s not
such an urgent decision to make.”
Offer A Price Accommodation
Sometimes it is necessary to close with some price accommodation if it’s expected and part of the company pricing strategy. Some important points to remember, as discussed extensively in the previous section, Step 5: Convincing, are to:
- - Always give a reason for why you are granting a price accommodation
- - Firmly limit your offer and do not open the door for further negotiation
- - Secure a monetary deposit first
A deposit could be considered to be a financial benefit: customers can delay the payment to a certain date, but still secure a product. If the product is not available, the customer needs to pre-order and therefore a deposit is a must. In certain cases, customers won’t want to make a full payment for the product in advance, being not yet 100% sure of the purchase decision. A deposit is a nice way to close a sale even if there is still some risk that the customer will change his mind and switch to another product.