How To Close Any Customer On A Higher Payment EVERY TIME | Andy Elliott

Summary

In this video, Andy Elliot demonstrates effective strategies for closing sales when customers hesitate due to higher payments. He emphasizes the importance of presenting the value of a new vehicle, focusing on the benefits of warranties and reduced maintenance costs. Andy explains how to handle tough negotiations by painting clear, visual comparisons that make it easy for customers to understand the overall value. By engaging customers with logical reasoning and persuasive communication, he teaches how to shift the conversation to highlight the total cost of ownership, leading to a successful deal.

Takeaways

• 😀 Focus on not just closing a deal, but closing for maximum profit and value.
• 😀 Never ask for more money directly—use justifications like warranties and maintenance savings to close the gap.
• 😀 Master closers can handle any situation, even the toughest deals, by staying calm and confident.
• 😀 It's important to paint a vivid picture for the customer to make the deal seem more attractive.
• 😀 Show the customer the long-term benefits, such as avoiding maintenance costs with a newer vehicle.
• 😀 When a customer says they can't afford more than a certain payment, offer them value-based alternatives.
• 😀 Understand the significance of small differences in payments—sometimes it's not about lowering the price, but justifying the extra cost.
• 😀 A master closer doesn't just negotiate—he shifts the perspective of the customer to make the deal seem like their idea.
• 😀 Strong presentation and effective use of tools like a pen and paper can significantly enhance closing power.
• 😀 A great closer doesn't just close deals—they can write their own paycheck by bringing value and profit to the company.

Q & A

What is the primary objective when a customer says the payment is too high?

The primary objective is to close the customer on the payment you want them to be at, ensuring that they are happy with the payment terms, without simply asking for more money.

What is the significance of using the pen and paper in the closing process?

The pen and paper are symbolic of the closer's tools to help visualize the payment structure, presenting facts and justifications in a clear and compelling manner to close the deal.

What does the term 'warranty close' refer to in the context of sales?

A 'warranty close' refers to emphasizing the value of the warranty in a deal, often used to justify higher payments by explaining the long-term savings on maintenance and repairs.

How can a salesperson address a customer’s resistance to a higher payment?

A salesperson can address this resistance by providing a cost comparison, emphasizing the value of a newer, warranty-covered vehicle, and explaining how maintenance costs for an older vehicle will make the total cost comparable or even higher.

What is the concept of a 'grand master closer'?

A 'grand master closer' is someone who can close any deal under any circumstances, even when the situation is difficult or seemingly lost. This person is highly skilled in presenting a deal and making it easy for the customer to say yes.

Why is it important for a salesperson to understand the costs of car repairs and maintenance?

Understanding the costs of repairs and maintenance helps the salesperson effectively justify the value of a new car with a warranty, positioning it as a better long-term investment compared to an older vehicle without a warranty.

What does the speaker suggest about the importance of handwriting for a closer?

The speaker suggests that having neat handwriting is important for a closer because it helps convey professionalism and ensures the information being presented is clear and readable to the customer.

How does the speaker recommend handling a situation where the customer insists on a lower payment?

The speaker recommends flipping the situation by first stating the facts about the customer's current vehicle, then presenting the new vehicle’s advantages, particularly the warranty and maintenance savings, to justify the higher payment.

What does the speaker mean by 'painting pictures' in the sales process?

'Painting pictures' refers to vividly describing the benefits of a deal, such as explaining the potential future repair costs for an old vehicle and contrasting it with the benefits of a new vehicle, thereby helping the customer visualize the value of the offer.

What is the difference between a 'closer' and a 'master closer'?

A 'closer' is someone who can close a deal but may not extract the maximum possible value, while a 'master closer' is someone who can close deals for the highest possible profit and make the customer feel great about the deal.