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Cost of Ownership Close

 

Disciplines > Sales > Closing techniques >  Cost of Ownership Close

Technique | How it works | See also

 

Technique

Do not talk about price. Instead, talk about the total cost of ownership, including service, replacement and so on.

Then compare this cost against that of competing products.

It is often good to scale this price to annual, monthly or weekly cost, where the overall cost may appear scarily high.

Examples

Competing systems may seem cheaper, but when you take into account installation, maintenance and the lifetime of the product, this system is about half the price!

Because we are so confident about the reliability of our systems, we charge only half the price of our competitors. That means the monthly cost is far less.

If you buy a competing product you'll be replacing it in two years. This product will last you twice that. 

How it works

People often focus on the immediate price and miss the longer term cost that may be incurred. The Cost of Ownership Close works by comparing costs over time rather than up-front payments. If possible, this can be put into effect with staged payments.

Of course you do need a more reliable product if you are going to offer lower service costs. It also helps to have evidence of superior quality.

See also

Price-promise Close, Opportunity Cost Close

Books on Sales Closing

**** Tom Hopkins, Sales Closing for Dummies, For Dummies, 1998  **** Zig Ziglar, Zig Ziglar's Secrets of Closing the Sale, Berkley Publishing, 1985  *** Stephan Schiffman, Closing Techniques: (That Really Work!), Adams Media, 1999  **** Stephan Schiffman, Getting to 'Closed': A Proven Program to Accelerate the Sales Cycle and Increase Commissions, Dearborn Trade Publishing, 2002  *** Joe Girard, Robert L. Shook, Robert Casemore, How to Close Every Sale, Warner books, 2002 ** Gary Karass, Negotiate to close: How to make more successful deals, Fireside, 1987

 

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