Individual Learning

Understanding of topic: Closing Sales and Follow up

Closing Sales: Closing Sales is a 5th step of selling process. It is a is the point when the
seller asks the prospect to agree to make the purchase. For salespeople, understanding
when it is time to close a sale and what techniques should be used is very important. the
close is not the end of the selling process but is the beginning of building what may be a
long-term business relationship. Before closing any sale trail close is being used by sales
person to get the opinion of prospect. Trail close is best way to get feedback. If the prospect
feedback is unfavourable then salesperson should go back to the presentation, instead of
closing the sales.

There are different many closing techniques are used my sales person. These are: (1)
Alternative-choice close (2) Minor close point (3) Assumption close (4) Summary of benefit
close (5) T-account or Balance sheet close

Sales person should review the customer profile to understand the sales situation, and use
appropriate closing technique.

Follow up: Following up on sales is a critical step in building and maintaining long-term
relationships with new customers. It involves a simple communication effort to see how the
customer is doing and whether he has any problems with or questions about the new
product or service. Along with showing you care. follow-ups help detect fixable problems.
Without follow-up, salespeople may never learn about some of the more common reasons
customers never come back.

Analysis of Topic in Eureka Forbes

Closing Sales and Follow Up

Euro champs spent there afternoon and evening for closing sales, collecting payments, making
courtesy call on existing customers.

As per this case Eureka Forbes use alternative selling close method. They provide the customer with
the range of models and some information to guide their selection of the desired model.

The company believed that ‘A relationship does not end with a sale. It actually begins.’ Eureka
Forbes gave a lot of importance to Customer Relationship Management (CRM) and tried to maintain
high level of post-sale customer contact. As after-sales service formed a crucial element of its
marketing mix, the company set up a 24 hour-365-day virtual call centre.
Eureka Forbes started a customer care network that took care of after sales services offered by the
company. The company’s customer service network comprised of over 116 CRC (Customer Response
Centres), covering over 92 cities, with more than 5000 sales personnel working under it. These
centres offered a plethora of options to its customers in order to enhance their satisfaction with
their purchases.

Impact of Technology on Closing Sales and Follow up?

Through the growing application of technology in other areas, it has often made its way into the
selling phase. Nowadays, with the advent of the new technological companies, they are following
the same steps to boost their revenues significantly. Social media platforms are used to close the
deal. Even e- commerce website have changed the way closing sales is done, nowadays prospect
make his/her purchase decision on online e-commerce platforms. As technology has impacted sales
a lot so salesperson started using mobile technologies like cloud-based CRM. Mobile technology
gives salespeople instant access to product specs and other tools that increase the effectiveness of
their sales pitches, resulting in higher closing rates and a better customer experience. And, when its
contract time, mobile access makes all documents readily available for the closing process. Even in
Covid-19 times physical selling is not possible hence salesperson has only option of using
technologies.

Nowadays automated personalised email and WhatsApp follow-ups are done by many companies to
save time. It ultimately establishes a successful partnership with the client. Further such tools and
equipment are finding its way through the selling strategy of the company by raising and addressing
complaints, in order to further improve it.

Video Understanding and Critic

Link: https://www.youtube.com/watch?v=NbASCQZVQqA (34:55 – 38:55 Min)

Analysis: The video depicts an actual live Sales closing to one of the prospect customers. Is this video
2 sales closing situations is shown. In 1 st situation prospects wanted to buy water purifier from the
sales person but sales person did not register customer interest. This is the example of missing
buying signals from prospects. Sales person is not at all alert and hence unable to identify these
signals. In 2nd situation salesperson has done trail close and able to perceive buying signal of
prospects and closed the deal. In 2nd situation sales person used assumptive and alternative closing
to close the sale.