Does The Ben Franklin Close Still Work in 2021? An In-Depth Analysis

In the fast-paced, constantly evolving world of sales, techniques come and go. What worked for door-to-door salesmen in the 1950s may fall flat with modern B2B buyers. Amidst all this change, one classic technique has stood the test of time: the Ben Franklin close.

Dating back to the 1700s and named after one of America‘s founding fathers, this closing method has been used by countless salespeople over hundreds of years. But does it still hold up in 2021? Can a technique invented before the telephone really be effective in the age of the internet?

In this post, we‘ll dive deep into the Ben Franklin close – what it is, how it works, and most importantly, whether it‘s still a viable tool for today‘s sales professionals. Let‘s get started.

The History and Psychology of the Ben Franklin Close

The Ben Franklin close is named after Benjamin Franklin‘s famous decision-making strategy. Franklin would divide a sheet of paper into two columns, labeling one "Pros" and the other "Cons." He‘d then list all the arguments for and against a decision in the respective columns. The column with the most compelling points "wins," revealing the best course of action.

In sales, the Ben Franklin close involves collaboratively listing out the pros and cons of a purchase decision with your prospect. The goal is to demonstratively show that the benefits (pros) of saying "yes" outweigh the drawbacks or risks (cons).

But why is this technique so compelling? The answer lies in psychology. The Ben Franklin close leverages several powerful psychological principles:

1. Participation Effect: We value and remember things more when we‘ve had a hand in creating them. By involving the prospect in building the pros/cons list, you increase their investment in the outcome.

2. Visualization: Seeing the pros and cons laid out visually makes the decision feel clearer and more rational than holding a purely abstract discussion.

3. Social Proof: As you collaboratively list out pros, you‘re subtly providing social proof – showing that other people (namely, you) see the value in the purchase.

4. Commitment and Consistency: Once a prospect has verbally acknowledged the pros of a purchase, they feel psychologically compelled to act consistently with that stance.

When you understand the psychological levers the Ben Franklin close pulls, it‘s no surprise that it‘s remained relevant for centuries. But how does it hold up to the needs of the modern buyer? Let‘s look at sales trends in 2021 and how the Ben Franklin close fits in.

The Ben Franklin Close in a Modern Sales Landscape

There‘s no question that sales has evolved in recent decades. Hard-selling, high-pressure techniques have fallen out of favor; today‘s buyers are too savvy and info-rich to be pushed into a purchase.

Instead, modern sales trends prioritize approaches like:

• Consultative Selling: Serving as a trusted advisor, understanding a prospect‘s needs, and collaboratively problem-solving
• Solution Selling: Leading with the unique value or solution you provide, rather than just touting product features
• Insight Selling: Delivering valuable insights that reframe or illuminate key issues for the buyer

At first glance, a technique from the 1700s might seem at odds with this new landscape. But when done skillfully, the Ben Franklin close fits squarely within a modern, consultative approach.

Consider the key characteristics of the Ben Franklin close:

• It‘s collaborative, actively involving the prospect in the decision process
• It surfaces and addresses a prospect‘s concerns and hesitations
• It concretely demonstrates your offering‘s value relative to particular pain points
• It uses the power of visualization to make an abstract decision feel tangible and clear

Far from an outdated gimmick, the Ben Franklin close is actually a textbook example of consultative, buyer-centric selling. By diving deep into a prospect‘s needs, priorities, and concerns, you build trust and credibility. And by visually illustrating how your solution‘s benefits outweigh any potential drawbacks, you empower the prospect to reach the best conclusion for their needs.

Of course, the Ben Franklin close isn‘t a panacea. Like any technique, it can be misused or overused. Let‘s look at some data on sales closing, and explore tips for employing the Ben Franklin close effectively in a modern context.

Sales Closing by the Numbers

Sales closing is a critical skill for any sales professional. Consider these statistics:

• 36% of salespeople say closing is the most challenging part of the sales process (source: HubSpot)
• "Ability to close deals" is one of the top 3 skills buyers value most in salespeople (source: LinkedIn)
• Top-performing sales organizations are twice as likely to say they have "closely monitored, strictly enforced" processes for closing (source: Salesforce)

However, just 30% of prospects say the salespeople they deal with are "excellent" at leading them through the closing process (source: Rain Group). This gap represents a huge opportunity. By honing effective closing techniques like the Ben Franklin close, sales reps can dramatically boost their results.

But how do you translate a 300-year-old technique for a 2021 audience? Here are some tips:

Do Your Homework

The Ben Franklin Close isn‘t a one-size-fits-all script. It‘s a framework for surfacing and discussing key decision criteria. To use it effectively, you need a deep understanding of your particular prospect‘s needs and concerns. Do extensive discovery before attempting to close.

Keep it Customer-Centric

Remember, this isn‘t about you pushing your agenda. It‘s about collaborating with the prospect to help them visualize and think through the decision. Ask lots of questions, listen carefully, and frame everything in terms of their needs and goals.

Be Ready to Drill Down

Surface-level pros and cons won‘t cut it. You need to be ready to really dig into each point. If a prospect says a pro is "efficiency gains," ask them to get specific: How much time will they save? What will that enable them to do? The more concrete and detailed, the better.

Embrace Objections

Don‘t shy away from the "cons" side of the list. Openly acknowledging risks or drawbacks builds trust. Of course, have strategies prepared to minimize or reframe those drawbacks. But the discussion has to be a genuine two-way street.

Close with Confidence

Once you‘ve thoroughly explored the pros and cons, don‘t hesitate to move into a closing question. Recap the key points, then ask clearly for the sale: "Given that the pros seem to outweigh the cons, are you ready to move forward?" Confidently leading the prospect through the final steps is key.

The Ben Franklin Close in Action: Mini Case Studies

To really illustrate the modern relevance of the Ben Franklin close, let‘s look at a couple examples of it in action.

Example 1: SaaS Sales

Imagine you‘re selling a SaaS project management tool. Your prospect likes the platform but has concerns about the cost and the learning curve for their team. Using the Ben Franklin close, you might help them map out pros like:

• Centralized communication and file sharing
• Automated workflows and reminders
• Increased team productivity and output
• Customizable project views for each team member

Then for the cons, you openly discuss:

• The monthly subscription cost
• The time needed to train the team on the new tool

But you come prepared to reframe those drawbacks. You talk through the prospect‘s current time and money spent on managing projects via scattered emails, meetings, and manual tracking. Suddenly, the pros of your solution far outweigh the cons. The path forward becomes clear.

Example 2: Financial Services

Now let‘s say you‘re a financial advisor recommending an investment portfolio to a client. They‘re intrigued by the potential returns but wary of the risk. Using the Ben Franklin close, you outline pros like:

• High historic returns
• Diversification across asset types
• Alignment with client‘s long-term goals

And for the cons, you discuss:

• Exposure to market volatility
• Potentially lower liquidity than other investment types

But you come armed with data showing that over the client‘s 20+ year investment horizon, the portfolio‘s average annual returns have significantly outpaced any short-term dips. You also discuss how much liquidity the client needs to have on hand, and adjust the portfolio mix accordingly. With their concerns addressed, the client feels confident moving forward.

In each of these examples, the Ben Franklin close isn‘t about pushing or tricking the prospect. It‘s about working with them to methodically think through a complex decision. By visually "showing your work," you empower the prospect to make the best choice for their needs.

Conclusion

So, does the Ben Franklin close still work in 2021? Absolutely – perhaps better than ever. In a world of complex offerings and savvy buyers, a collaborative approach to closing is indispensable.

Of course, like any powerful tool, the Ben Franklin close must be used judiciously. Implement it within a larger consultative sales process, tailor it to each prospect‘s needs, and always prioritize the buyer‘s best interests.

When done right, the Ben Franklin close isn‘t just a way to win a sale; it‘s a way to guide your buyer to a confident decision they‘ll feel great about long-term. And that‘s a timeless recipe for sales success.