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Welcome CHAPTER Your Prospects Objections
LECTURE OUTLINE
I.
THE TREE OF BUSINESS LIFE: OBJECTIONS
A.
If a customer has a valid objection, and the customer does not need
your product, leave.
B.
If the customer is incorrect, politely show them how your product will
help them, and do it to help them not just to make the sale.
II.
WELCOME OBJECTIONS!
A.
Learn to accept objections as a challenge which, when handled
correctly, will benefit you and your prospect.
B.
If you fear objections, you will fumble your response, often causing
you to fail.
III.
WHAT ARE OBJECTIONS?
A.
Sales objection - a prospect's opposition or resistance to the request of
the salesperson.
B.
The prospect who presents objections is often more easily sold on your
product.
IV.
WHEN DO PROSPECTS OBJECT? - At any time during your sales call from introduction to close.
V.
OBJECTIONS AND THE SALES PROCESS
A.
Inexperienced salespeople finish their presentation and wait for the
prospects response.
B.
Experienced salespeople use a trial close.
C.
How to move to the real close:
1. If the prospect reacts positively - move to the close.
2. Answer objections and ask another trial close to determine if the
objections have been met, and then move to the final close.
3. Be prepared to determine if there are other objections.
4. If an objection has not been overcome, then move back to your
presentation.
VI.
BASIC POINTS TO CONSIDER IN MEETING OBJECTIONS
A.
Plan for objections.
B.
Anticipate and forestall.
1. Anticipate objections.
2. Forestalling an objection involves the salesperson discussing an
objection before it is brought up by the prospect.
C.
Handle objections as they arise. Postponement of objections may result
in:
1. The prospect not listening.
2. The prospect feeling that you are hiding something.
3. The appearance that you also feel its a problem.
4. The appearance that youre not able to answer because you do
not know the answer.
5. The appearance that you are not interested in the prospects
opinion.
D.
Be positive!
1. Use positive body language and smile.
2. Do not take objections personally.
E.
Listen - hear them out.
F.
Understand objections.
1. Request more information.
2. A condition.
a. Sometimes prospects may raise an objection that turns into
a condition of the sale.
b. Negotiation can overcome a condition.
3. Major or minor objections.
a. Minor objection- quickly address it and return to selling.
b. Do not turn a minor objection into a major discussion item.
4. Practical or psychological objections.
a. Practical (overt).
b. Psychological (hidden).
G.
VII.
Meet the objection.
SIX MAJOR CATEGORIES OF OBJECTIONS
A.
The hidden objection - a prospect who asks trivial, unimportant
questions or conceals his feelings beneath a veil of silence
1. The salesperson must ask questions and carefully listen in order
to smoke out the prospects real objection.
2. Smoke out hidden objections - ask questions, observe the
prospect, you may have to read between the lines; the prospect
may not consciously know what the real objections are; finally,
as a last resort, you may simply ask the prospect what their
objections are.
B.
The stalling objection - when the prospect says, Ill think it over, or
Ill be ready to buy on your next visit, you must determine if the
statement is truth or if it is a smokescreen designed to get rid of you.
1. One of the toughest stalls to overcome arises when selling a new
consumer product.
2. Another stall occurs when the buyer says he has to get approval
from someone else. Since the buyers attitude toward your
product will influence the firms buying decision, you must make
it a positive one.
3. Let the buyer know that you are on his side and help him with his
objections. If he doe not respond, give him a multiple choice
question to display an attitude of genuine caring.
4. Do not get demanding, defensive, or hostile.
5. Your goal is to help your prospect realistically examine reasons
for and against buying now.
6. The main idea is not to be satisfied with a false objection or stall.
Bring out any or all of your main selling benefits now and keep
on selling.
C.
The no-need objection - the prospect says, but Im not interested
now, and he stays as he presently is.
1. This is widely used because it gets rid of the salesperson.
2. It is tricky because it also includes a hidden objection or a stall.
D.
The money objection - encompasses several forms of economic excuses
and is simple for the buyer to say.
1. Respond by saying that it is risky to discuss products the price
until it can be compared to the products benefits. Once you
convey the benefits, price becomes a secondary factor which
usually can be dealt with successfully.
2. Quote the price and go right on selling.
3. The price/value formula:
a. Used to determine if a prospect is or is not convinced that
the price is too high.
b. Price/value = cost.
(1) Cost - comparison of what is received to the money
paid.
(2) Value - what the prospect sees the product doing for
them.
(3) Price - set at headquarters; not subject to change.
E.
The product objection.
1. Not everyone likes the best selling product.
2. Your reaction must be positive; you can use a guarantee, a
testimonial, independent research results, or a demonstration.
F.
The source objection.
1. Some prospects may say that they are happy with their current
supplier.
2. You should try to find out what exactly bothers the prospect and
call on him routinely over a long period of time.
VIII.
TECHNIQUES FOR MEETING OBJECTIONS
A.
The dodge does not deny, answer or ignore.
B.
Dont be afraid to pass up an objection.
C.
Rephrase an objection as a question. It is easier to answer a question
than to overcome an objection.
1. Acknowledge the prospects viewpoint.
2. Rephrase objections.
3. Obtain agreement.
4. Feel-felt-found:
a. I understand how you feel
b. Bill at XYZ store felt the same way
c. but he found after reviewing our products
D.
Postponing objections is sometimes necessary.
1. If you judge that the objection will be handled to your prospects
satisfaction by your customary method, and that your prospect is
truly willing to wait until that later time in your presentation, you
may politely forestall.
2. Tactfully used, forestalling can leave you in control of the
presentation.
E.
Send it back with the boomerang method.
1. Be ready at any time to turn an objection into a reason to buy.
Convince the prospect that his objection is in fact a benefit.
2. Requires good timing and quick thinking by the salesperson.
F.
Ask questions to smoke out objections.
1. Q1: There must be some good reason why youre hesitating to
go ahead now. Do you mind if I ask what it is?
2. Q2: In addition to that, is there any other reason for not going
ahead?
3. Q3: Just supposing, Mr. Buyer, you could then youd want to
go ahead? If yes go forward to discuss this, if no go to next
question.
4. Q4: Then there must be some other reason. May I ask what it
is? When he tells you, respond with another question 2. If you
receive a negative response then go to question 5
5. Q5: What would it take to convince you?
6. This series of questions keeps the conversation going and gets
the real objections out in the open, which helps increase your
sales.
G.
Use direct denial tactfully.
1. Incomplete or incorrect objections should be acknowledged from
the prospects viewpoint, and then answered with complete and
correct facts.
2. Tact is critical.
3. Do not say, Youre wrong. It closes the prospects mind.
Instead try, You know, youre right to be concerned about this.
Let me explain.
H.
The indirect denial works.
1. It initially appears as agreement with the customers objection,
but moves into denial of the fundamental issue.
2. Done in a natural, conversational way, the salesperson will not
offend the prospect.
I.
Compensation or counterbalance method.
1. Sometimes a prospects objection is valid and must be overcome,
which calls for the compensation method.
2. Present advantages to counterbalance the objection.
J.
Let a third party answer - Answer it by referring to a third party and
using his experience as your proof or testimony. If the source is
reliable or reputable, this can be especially successful with the expert
or skeptical prospect.
IX.
TECHNOLOGY CAN EFFECTIVELY HELP RESPOND TO OBJECTIONS
- Providing buyers the necessary information to make a decision can
frequently overcome objections.
X.
AFTER MEETING THE OBJECTION - WHAT TO DO?
A.
First, Use a trial close to determine if you have overcome the objection.
Next, close the sale or move back into your presentation.
B.
Move back into your presentation.
C.
Move to close your sale if finished with your presentation.
D.
If you cannot overcome the objection:
1. Admit it, and show how your products benefits outweigh this
disadvantage.
2. You should always ask for the order.
XI.
IN ALL THINGS BE GUIDED BY THE GOLDEN RULE
A.
You are there to help the customer, not force a product on them.
B.
Follow the Golden Rule. Address objections in an attempt to serve
them.