Ask Franklin: best techniques for closing sales

A pencil and paper are the only tools you need for a Franklin-style closing, but we also have some tips to make that closing more effective.

Many of us will have heard of Benjamin Franklin as a prominent figure in the United States. Franklin campaigned for colonial unity as a spokesman in London for several colonies. Feats like this and others earned him the title of "The First American," in addition to his appearance on the US $100 bill. But apart from being the popular political figure that he was, Franklin was also a brilliant businessman who, whenever he had an important decision to make, used a very simple decision-making process that is now known as the ‘Ben Franklin method’.

In sales, this method is especially used when you know that prospects are very interested in your product, but are about to say they're going to think about it.

Franklin in action

The science of this method lies essentially in the simplicity of the actions. This consists of taking a piece of paper or whiteboard asking the customer to list the benefits of purchasing our product and at least 3 reasons why they should buy it now. If customers have problems stating them, we support them with one or the other. Then, they proceed to ask them the reasons why they do not want to continue with the purchase. In most cases at this point, the price will always be on this list.

The magic of this technique is to analyze if the customer sees our product as necessary, perceiving the benefits that it can provide, and evaluating if it is worth insisting on this prospect. If the list of benefits is greater than the list of cons to purchasing the product, then it is a green light to continue with the process.

Ben, now what?

Suppose we already have a couple of prospects with lists of perceived benefits that exceed that of cons. And now that? Although the fact that our customers perceive advantages in our products is gained ground, this point only has value if we assure them that those they perceive are real benefits, and this is where the accompaniment for this stage becomes crucial.

A couple of tips to accompany a successful closing

Every good salesperson knows that the fact that a product generates interest does not necessarily ensure a safe sale, since if there is no good chemistry between it and the interested customer, no star product will be enough.

• Ask the right questions: Not asking the right questions is one of the 5 failures of salespeople at the moment of closing. But there's indeed no universal formula to know what the correct questions are since these come from our users. Here we must not forget that the interaction with the customer sets the tone for preparing the right questions for a successful closing.
• Selective listening: selling is not just about making an effective sales pitch, but about listening carefully to what our customers want. However, listening for this type of situation must be careful and must be aimed at analyzing the customer's needs to adjust the product appropriately.
• It is an exchange of values: customers will always seek greater value received for the money they give, understanding this is essential to be able to give the right value to our product, and this can only be done if you know in depth what is sold and the competition there is.
• People above numbers: 9 out of 10 people believe that salespeople only show interest in money. When you talk to a prospect, you have to keep in mind the person you want to accompany, above the number you want to reach in your marketing plan. Here it is essential to inquire about the pros and cons that were discussed above and let this person know that you are there to answer any questions and see how the cons that have been noted can be solved.

Ready to close sales successfully?