CLOSING THE SALE—THE ABSOLUTE KEY TO SUCCESS
Here are some of the top closing phrases from the world of Wall Street. You can learn these, and custom tailor them to your personal liking. Remember, the basic mindset of SUCCESSFUL SALES is to ALWAYS BE CLOSING. It isn’t just the old “not taking no for an answer” approach. Establish rapport with your prospective client first. Find common ground by asking questions about such things as; do you have kids?, do you pay golf?, do you like the area where you live?, etc. Proper closing can only come after rapport has been built. Go ahead…give these closes a try. You can practice with yourself in front of a mirror…it will help you develop the “third eye” sense of seeing yourself when you are talking to a client. Make sure that you substitute an appropriate product, or service, where appropriate.
1) Performance Close
I have opened many accounts identical to this one, on a small (shares) trade for a couple thousand dollars and now they are some of my biggest clients. They realize that with a down side limited to such an insignificant amount, it was worth the shot to see if my firm and I are as good as I said we were. And you know what? They are still my clients today! As far as my firm goes, we have a niche in the market that has been making a fortune for a select group of investors for years. Let me ask you a question? If we pick up a block of (shares) and I am totally wrong, are you going to be receptive to my next idea? Exactly! Let me ask you this. If we pick up the stock and I am totally right do you think you are going to listen to my next recommendation? Of course you would! If I am wrong I don’t get a second chance, if I am right, I have credibility.
2) Performance Close
Let me say something with all sincerity, I do not care if you take one share or 10,000 shares. What I am looking to do here is get a base hit. Typically this is what will happen. You will pick up a couple hundred shares of a (current price) stock and it will go to (higher price) and you will make a nice piece of change. I will give you a $15 stock that will go to $20, but there will come a time when we have a good relationship built and you can trust me. You will take a 50K position in an area of the market I specialize in, the stock will triple and I will make you a lot of money on one trade. Not over night…but, when my performance warrants it. My firm has turned the average investor into millionaires and the millionaires into multi-millionaires. Not on one trade, but a series of 3-4 transactions over a 1-2 year time frame. Believe me, I am not coming back to you with an ideal recommendation or the stock of the day. We follow a business plan and the plan is to work small in the beginning over a series of winners, work bigger and better.
3) Money Close
(Client’s name) I deal with the most sophisticated investors, presidents and CEOs from Maine to California. Decision makers–not accountants, controllers, or VP’s. This is not a very difficult decision. We both know you can jockey around and get your hands on a couple of thousand dollars. Let’s not kid each other, I didn’t just pick up the phone book and dial your number. I know you are a man of substantial net worth or I would have been off the phone 15 minutes ago. Groping for excuses not to do this serves absolutely no purpose. Right now (stock) has tremendous upside potential for reasons you already know. Opportunities like this do not come around every day. Pull the trigger on (shares) with a (amount) downside. Allow me the privilege to guide you in at exactly the right price, but more importantly what other brokers do not do, guide you out over the short term with a nice profit. Over the next twelve months you are going to realize this was the best call you have ever received from a broker. You are going to thank me for giving you the little push you needed today. Give me a shot, and you will be very impressed!
4) Reputation Close
What I’d like you to understand (prospect) is that our investment banking division literally made its reputation in the (industry) business. In fact, we represent companies like (X). If you wait until the rest of Wall Street recognizes what we are discussing here today, all of the opportunity for dramatic capital gains will be gone. We are backing our reputation on this company. Please remember, this is vastly undervalued situation that, as of yet, is unrecognized. This is our opportunity to be first and I am sure that is what you really want…isn’t it (client’s name)?
5) Fear of Loss Close
(Prospect) you are going to be concerned about the merits and timing of a stock recommendation just one time. That’s the day you open an account with (firm) and invest your money. But you are going to be concerned with the performance of your stock portfolio for the rest of your life. You have already argued that (stock) is undervalued and should trade at a much higher price. Wouldn’t you agree that (firm) deserves your trust, just this one time, so you are able to start a relationship that will increase your net worth for a long as you like?
6) Comparison Close
You see (prospect), investing on Wall Street is a very simple game. Please don’t misunderstand me, it’s not easy, but it is simple. The secret to coming up with the best investment opportunities is to compare and contrast. For example, if the average company in the industry is growing 12% and a certain company at 25%, we are well above average aren’t we? (Firm) has compared (stock) to countless other companies in this industry and, as their investment banker, we are convinced this is the #1 opportunity to make your money in the market. Our firms reputation as experts in the business is unquestioned and second to none. I would hope this is the type of expertise you want on your side…isn’t it, (client’s name)?
7) Timing is of the Essence Close
When (firm) makes a recommendation, we’ve already made a decision not only as to the value but also to the timing. There are only two requirements you have to satisfy to be successful whether you invest in; antiques, paintings, real estate, or stocks. To make money, all you have to do is get a good value and invest at the right time, before it goes up in price. That makes sense doesn’t it? We’ve already agreed that (stock) represents exceptional value, haven’t we? In terms of timing, if (firm) determined that we should make this investment in 2 weeks or 2 months, we would have contacted you at that point.
8) Four Question Close
There are only four questions you need to ask yourself, and you have already agreed to the first three. Does the idea make business sense? Is this company undervalued? Can you afford it? The only question remaining is WHEN DO YOU WANT TO START MAKING MONEY on this investment? Obviously, that decision is up to you, however timing is crucial since (stock) is trading higher everyday. We both know the greatest profits are realized when you are the first to invest, so doesn’t it make sense to start booking those profits today?
9) Performance Close
I have opened up many accounts in my career identical to this one, I have many substantial clients throughout the country that were identical to you. They opened up on a few thousand dollars worth of stock, they realized with a downside limit to such an insignificant amount, it was worth the shot to see if myself and my firm are as good as I said they were. You know what?? They are some of my biggest clients today and I have had a major impact on their net worth. What I am saying is this, give me one small shot, the same shot I am asking for today. Give me 1% trust and confidence on just 100 shares and I will bang my head against my desk, put my back up against the wall to earn the other 99%…alright?
10) Timing is of the Essence Close
Listen, (Client’s name), the first trade size is irrelevant, all I ask is that you buy when I tell you to buy and more importantly sell when I tell you to sell. Now if you do that and judge me on the percentage gains, you are gonna want to work bigger down the road.
11) Comfort Close
(Client’s name), the hardest thing to do as far as a potential new client is the first trade. It is like buying your first home or first business. Lets face it, your first step is the hardest. I am not looking for a one night stand. You married your girlfriend right? Let me ask you a question, you met your wife, but you did not jump into bed with her on the first night did you? Of course not!! Maybe you held her hand or maybe even kiss. Well look, I am not looking to jump into bed with you or even get a kiss, simply want you to hold my hand with 100 shares and 3-6 months you are gonna want to get into bed with me quite frankly. I am not that guy (hahaha) So do the 100 shares not because its good for me, but because its good for you.
12) Performance Close
Let me ask you a question. How many years have you been in the market? How many accounts have you opened in the past 3 years with brokers? Let me tell you why: everybody comes to you with ideas but no one has really made your money. I am telling you I can end this!
13) Competition Close
Let me ask you a question. How many years have you been in the market? How many accounts have you opened in the past 3 years with brokers? Let me tell you why: everybody comes to you with ideas but no one has really made your money. I am not one of those guys…and neither is my company! We can improve your financial position together. Let’s do it!
14) You Deserve It Close
During your lifetime, you’ve accumulated a good sized net worth, haven’t you? As an investor, you have been singled out by (firm). In fact, your name was given to me by one of our Senior Officers. From our discussion, I get the impression that most of the advice you receive comes after the big boys are in. Don’t you think you deserve to start getting that advice at the same time the institutions do? You owe it to yourself to do business with us. You have already agreed that the idea is undervalued and can increase your net worth. That’s what you really want, isn’t it? Can you really think of any reason why you should deny yourself the opportunity only given to successful people like yourself?
15) Performance Close
Now, (prospect) on this news, I am going to tell you all my clients and prospects just understand we don’t have the luxury of a track record, even though the (stock) is a “BIG WINNER” (price) to (price). It’s water under the bridge, everyone gets a second chance. Since “YOU” are a new account, I don’t want you to buy anymore than just 500 share of this company “THAT’S IT!” (_____grand), keep in mind with a (____ point stop loss) your maximum downside is (_____ bucks), don’t even think that’s gonna be the case. (Client’s name) you give me 1 month, that’s ALL I NEED. You mark it on your calendar and I’ll do the same, and if this company does not do exactly as I said it will just like (previous recommendations) (price to price) you call me up and fire me as your broker, better yet, I will call YOU and fire myself and you just two things…1, where you want me to wire your funds to and 2, Where I should SHOVE my telephone because I simply did not do my job. 1 month, (_____ point) downside protection, on (____ shares) when all is said and done your percentage gains look to be nothing less than staggering. (Client’s name), what do you say?
There you have it, folks! Some of the all time greatest closes used by top sales pros in multiple industries.
You too can master sales…but, it is one step at a time. Use some of these phrases in appropriate places in your sales dialogue…and watch your sales grow.
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