As a sales manager, it is essential to understand the power of furniture protection plans when closing the sale. Knowing how to leverage these plans can be instrumental in getting customers on board, as they offer peace of mind for big purchases and provide additional income for your store. In this blog post, we’ll explore the strategies and best practices you need to know to train your sales team to overcome customer objections and how to close a more significant number of sales with protection plans. Let’s get started.
Best Practices to Close the Sale with Furniture Protection
Did you know that 63% of all sales conversations end with the salesperson not explicitly asking for the sales? With these tips, you can close the sale and add more to the bottom line.
The attitude of expectancy – to be successful in sales, it all begins with confidence. You must expect to make the sale before speaking with the customer.
Mention Early, Mention Often – By mentioning the protection plan early in the sale with the items the customer is viewing, you are planting a seed that will continue to be watered throughout the sales process.
Asking the Right Lifestyle Questions – Lifestyle questions result in more information about the customer’s lifestyle, which can be leveraged when making expert recommendations. It’s always better to ask questions upfront to uncover the customer’s need. Remember the 80-20 rule; the customer should do 80% of the talking, and you should do the other 20%.
Leverage the Success Books in the Sales Process – Words are worth a dime a dozen. Don’t just tell the customer what the protection plan covers; show them! Most people are visual by nature, and the pictures drive home the level of quality our expert technicians provide.
Include the Protection Plan in the Quote – Going back to the attitude of expectancy, you should present the protection plan from the perspective that every customer will want to take advantage of the plan. By including it in the quote, the customer will either accept it or if they refuse it, and you have an opportunity to overcome the underlying objection.
Try to Uncover Objections – Don’t be afraid of the customer objecting. If you feel the customer hesitate, ask questions to pull out the underlying objection. It’s natural for a customer to be defensive when dealing with a salesperson. Once the objection is known, address it using examples of successes.
Close the Sale – The #1 reason that customers don’t purchase a protection plan because they were never offered one. Almost half of those customers say they would have bought one if they had been offered it. You are the expert. Leverage what the customer told you in response to your Lifestyle Questions and make an expert recommendation that includes the protection plan. “Based on what you told me, I recommend…” is a great statement to show that you were listening to the customer, that you are an expert, and that they should listen to your advice.
Follow Up – Just because the customer doesn’t purchase today doesn’t mean they won’t. Most successful salespeople follow up with customers several times before they buy.
Referrals: 91% of customers say they would give referrals if asked. Only 11% of salespeople ask for referrals.
Protection Plan Common Objections
I don’t need a protection plan – Nobody plans to have an accident. The 5-year protection plan covers most accidental stains, rips, tears, and burns and costs you less than you usually pay a technician to complete the repair. WE FIX OR REPLACE IT.
I cannot afford the plan, and I’ve already spent my budget – “You can’t afford to have it!” For less than the price of a cup of coffee per week, you can protect your investment for five years, and the cost of the protection plan is usually less than a one-time visit from a repair technician. You cannot afford NOT to have this plan.
I understand I don’t have any kids/pets/entertainment, so you are used to a clean environment. Many of my customers in your situation have peace of mind knowing the plan works in concert with your efforts by giving protection, service, and cleaning advice for years.
I don’t believe in extended warranties – Furniture Protection Plans are NOT extended warranties; it is an ACCIDENTAL Protection Plans. Furniture is often your 3rd most significant investment, behind your home and automobile. You have accident protection on both your house and car, correct? For only a few dollars a month, you can protect your furniture investment for five years from all household stains, rips, tears, burns, seam separation, mechanical issues, human and pet biological stains-etc.
I have never needed a Furniture Protection Plan in the past – You never know when an accident will happen. You may not have needed your car or homeowner’s insurance in the past, but you still carry it to protect your investments from an accident. I suggest a 5-year protection plan to protect your furniture investment.
We are careful with our furniture – I am sure you are very careful. Nobody expects to have an accident, but accidents do happen. I recommend our 5-year Furniture Protection Plan that covers all household stains, rips, tears, or burns to protect your investment. And the plan pays for itself for less than the cost of just one technician visit to correct an accident.
I have a cat and a dog, and your protection plan doesn’t cover them – Great News! Many Protection Plan providers simultaneously cover your animal’s beaks, teeth, and claws. If they cannot fix the animal damage, you receive a new piece of furniture. If the repair is animal damage, all your remaining coverages remain the same. If you buy multiple pieces, all the pieces are covered the animal damage (beaks, teeth, claws). All biological stains are covered.
In conclusion, learning how to leverage furniture protection plans can be one of a sales associate’s most valuable skill sets. Understanding how to overcome customers’ objections with these plans paves the way for more successful closing rates. Training staff members on the benefits of these plans and having a standardized approach that is tailored to your store’s policies will also lead you closer to success. The ability to close even more sales with furniture protection plans is only within reach when capitalizing on customer needs. With consistency and strategy, you can achieve new heights when closing sales numbers with add-on sales and furniture protection plans. So take your knowledge and put it into action – overcome those objections and close that sale today!