When does the speaker recommend using a deposit close as a fail-safe?

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How to Handle Objections and Close Sales Successfully

15 Jun 2024 · 1 min

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0:36

A short sales-coaching video by Eric Deeran about handling customer objections and closing deals. The speaker advises to try addressing objections thoroughly, but if the conversation is looping for about 15–20 minutes without commitment, use a deposit close as a fail-safe — likened to a second parachute — to secure some commitment rather than ending with nothing.

Questions this video answers

After about 15–20 minutes of repeatedly looping on objections without getting commitment.

Chapters

And if they're like, oh, you know, it's just a lot of money, address the money concern, try to address all the objections. And then if you're just going in circles for, like, 15, 20 minutes, and you can't get them to commit on moving forward, at that point, I would pull out the deposit close as a fail safe, because, like, what's the alternative? They hop on the, hop off the call, and then we have nothing on them. Right. That's not the ideal situation. Whereas, like, if you're going, you're looping, you're looping, you're looping, which means, like, you're trying to handle them and their objections over and over and over again, but you're not getting anywhere. Think of the deposit as kind of like your fail safe, your second parachute, almost.