As Sales Superstars approach the closing stages of a transaction, a sense of excitement is often overshadowed by uneasiness. We all have been in a position where we thought our 'deal' was locked up, only the have the rug pulled out from under us. This is why using letters at this stage of the game is so important.
In May we covered the "Win Letter" and last month we explored "Loss Letters". This month we will address the "Close Plan Letter", the third of four letters employed in the closing stages of your transactions (a Win Letter, Loss Letter, Close Plan Letter, and Negotiation Follow-Up Letter).
Close Plan Letter
Let's say the customer gives you a verbal agreement to purchase your product. Even with that in place, events can easily occur that could jeopardize your sale. A close plan letter (Building Trust Growing Sales: Secret Weapon 33) is an effective way to manage the unpredictability of this time. It outlines the steps necessary to take the customer from her verbal commitment to the issuing of a formal, contingent-free purchase order and down payment. The superstar uses the letter to micro-manage the steps to complete the process, limit any surprises, and hasten the sale. Can the win letter and close plan letter be combined into one document? No. The win letter and the close plan letter have very different purposes. The win letter's purpose is to battle cognitive dissonance and keep competitors at bay. The close plan letter's purpose is to prevent surprises in the run-up to the final purchase order. Here is a suggestion for a basic close plan letter.
May 21, 200X
Mr. Mike Jackson
Senior VP of Administrative Services
ABC Healthcare Systems
Chicago, IL 60603
Dear Mike:
Thank you for meeting with me today to discuss the _________ Project.
This note serves as a summary of the action items and owners required to finalize the paperwork and approvals by ___ . This is the date which will allow us to keep on schedule for your _____ Department's _______ (Critical Event).- Department Approval---Owned by Mike by July 29th
- Board Approval--Owned by John by Aug 12
- Legal Approval & Signatures--Owned by Mike by Aug 21
- Procurement Signatures--Owned by Mike by Aug 31st.
I will call Jill on Friday to set up a meeting for a review of our status.
Sincerely,
Dan
Next month's newsletter will highlight the "Negotiation Follow Up Letter."
Good luck, and Close 'Em.
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