|Sale Objections and What To Do
by Alan Rock
Sales people understand rejection. Those of us in sales (and everyone sells something) face rejection; salespeople call them objections.
Have you ever set an appointment, prepare a presentation, show up on time, get into rapport with the prospect, make a impressive presentation and have them say, 'Sounds good, but I can't afford it right now.' Or say something like, 'The budget is spent for the year.'
For those prospects who say, 'I Can't afford it,' in most cases, you, the sales person, haven't shown them the value of your product or service. Everyone in business understands value. For example if you told someone you'd give the twenty dollars for every ten dollar bill they gave you I doubt if you'd hear 'I can't afford it right now,' or 'Our budget is spent.' My guess is that prospect would be calling every bank, friend and/or family member trying to borrow as many ten-dollar bills as possible; why you might ask; because they see the value.
By asking questions about what that prospect sees as value is your key. For example in buying a car, what do you look for? Do you look for style or comfort? Or do you look for resale value, miles per gallon and maintenance costs? What is value you might not be value to me. So ask questions that answer the prospects value needs. Ask him, 'When buying your last (insert your products generic name) what made you choose it?' Then, listen actively for the answer. Your prospect will tell you exactly what you need to do to get the sale; so aggressively listen. As you talk about your product keep building value. I'm in the Message-On-Hold business and I tell my prospects that with an On-Hold Message on the telephone, according to research, most business receive a two and a half to five present increase in business. Do feel that shows value? It makes the prospect see the cash register ring and the bank account build.
One of the most common objections is the lack of authority to make the decision. This is where you, while making your appointment, you also qualify the prospect by asking the question, 'Other than you, who else is in the decision process?' Also ask what the other decision maker looks for in obtaining products or services like yours. This serves two distinct purposes; first of all it helps you to prepare for the third party's objection and secondly sets you up with a time to meet with this third party in the future.
One ubiquitous objection is need. Have you ever had a prospect say, 'Well we really don't need (insert you product or service)', or 'We'll just stick to our old ways'? This could be one of the toughest objections to handle since their objection revolves around your product or service. The first thing you must do is get to the root of the objection. How do they view your product and/or service? Are there things about it they like or do they see it as worthless? Are they just too scared to make a purchase? Whatever it is, you must get down to the bottom of it. However, you have some weapons at your hand; content and data. When you show them hard facts that better than 65% of the companies using your product and/or service show an increase in ROI.
Another objection is procrastination. The prospect puts the sales process on hold. Your job is to point out what he could be losing by not taking advantage of your product and/or service. Usually procrastination is another word for fear. Salespeople that let the prospect get away with these objections need to take a long hard look at why they let the prospect get-a-way with this. Be proud of what you sell and don't be afraid to toot your products and/or services horn on how you can assist that prospect in increasing business.
I have found is the only true objection is the word, NO, anything else is just a false objection and I have given you some tools to help overcome them.
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