The Benjamin Franklin Close (also known as “The Balance Sheet Close”) is one of the classic old time sales tactics used to “close a sale.” Never heard of it? Shame on you – not enough sales training.
The scenario is this: You’ve made your presentation, but the prospect is on the fence, and won’t make up his or her mind. You’ve tried everything, but can’t get them to budge.
Then you say, “You know Benjamin Franklin was one of our wisest citizens, wouldn’t you agree, Mr. Johnson?” (Get prospect’s agreement) “Whenever he was faced with a decision – and he had some pretty big ones back then – he would take a plain piece of paper, draw a line down the middle and put a plus (+) on one half, and a minus (-) on the other.”
“In his genius he discovered that by listing all the positive elements on the plus side of the paper, and the negative things on the minus side, the decision would become obvious — pretty sound concept, agreed?” (Get prospect’s agreement)
“Let me show you how it works. Since you’re having a tough time deciding, let’s list the benefits — some of the reasons you may want to purchase. Then we’ll list the negatives. Fair enough?” (Get prospect’s agreement)
Now you list every good thing about your product or service. Get the prospect to say most of them. What the prospect says will be the main points of interest to him. Take your time to develop a complete list. THEN YOU SAY — OK, let’s list the negatives, and hand the pen to the prospect, and push the list towards him. Don’t say a word. Usually the prospect can only think of responses having to do with price or affordability.
In theory this sounds like a good way to close a sale.
The big problem with the Benjamin Franklin Close – it’s old world selling that not only doesn’t work, it annoys the prospective buyer.
Try that close on someone who has ever taken a sales course, and it’s an insult.
The reality of the sale is – the prospect has already made up his mind – he’s just not telling you.
So, should you just forget it and never use the Ben Franklin Close. Heck no – just use the Ben Franklin principle in a different way.
Do what Ben would have done – figure out a new way and a better way, and use it.
Here’s a powerful new way to re-use the classic Ben Franklin Close close:
Use it on yourself – before you make the sales call.
• Use it as a preparation tool.
• Use it as a strategizing device.
• Use it to get ready to make a big sale.
Get a plain piece of paper (or your laptop), and draw a line down the middle of the page.
on the plus side…
• List the prospect’s main needs.
• List the questions you want to ask.
• List the benefits and main points you want to be sure to cover.
• List one or two ideas you’re bringing to discuss.
• List one or two personal things in common to discuss.
• List the decision makers.
• List why you believe they will buy.
on the minus side…
• List the reasons why the prospect may not buy — and your responses.
• List the obstacles you may have to overcome.
Now you’re ready to make the sale, and Ben helped you.
If you use the Ben Franklin Close on yourself, before you go in to make the sale, then you can ask the buyer intelligent closing questions. For example, questions that might lead with the phrases – What are the major obstacles…? Or, What would prevent you from…? Or, Is there any reason not to proceed with…?
That’s a Ben Franklin close that Ben would be proud of – the one you prepare for yourself. You close yourself before you make the sale. Wow!
Try this new version of an old classic. Ben would be proud of you. So would your boss.
I think it was Franklin who said, “A close in time saves nine – objections,” but history has distorted it for the people who knit. Pity.
Jeffrey Gitomer is the author of “The Sales Bible”, “Customer Satisfaction is Worthless” “Customer Loyalty is Priceless”, “The Little Red Book of Selling”, “The Little Red Book of Sales Answers”, “The Little Black Book of Connections”, “The Little Gold Book of YES! Attitude”, “The Little Green Book of Getting Your Way”, “The Little Platinum Book of Cha-Ching”, “The Little Teal Book of Trust”, “The Little Book of Leadership”, and “Social BOOM!” His website, www.gitomer.com, will lead you to more information about training and seminars, or email him personally at email@example.com.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info