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 Opportunity Cost Close

 

Disciplines > Sales > Closing techniques > Opportunity Cost Close

Technique | How it works | See also

 

Technique

Highlight the cost of not buying and hence show that the actual cost is not as high as appears from the price.

Use 'cost' in its broadest sense, including hassle, dissatisfaction and problems. Time, in particular, always costs.

Examples

If you keep your existing fire system and it fails, what would that cost you? What would it do to your reputation? The cost of not upgrading looks much higher than getting the latest system installed now.

This suit really does make you look smart. Think of the other fellow, losing sales in a shabby suit. You don't want to be like him, do you?

I know it looks expensive now but I would hate for you to look back in a year's time and realize how much you have spent in maintenance of your current system and how much you could have saved by upgrading at the right time.

How it works

There is always cost, whether you do or do not do something. In business and finance, the 'opportunity cost' is the name given to the cost of not doing something.

Price is not the same as cost. Price is what the customer pays in cash. Cost is a whole range of problems that may or may not be translatable into money. Cost is the sales person's friend.

See also

Cost of Ownership Close

Association principle, Repetition principle

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

Sales Books

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