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Chapter 11 Handling Objections: The Power of

Learning from Opportunities

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Video Ride-Along

• The video Handling Objections features Paul Blake, Vice President of Sales, Greater Media Philadelphia

• Paul Blake gives his tips about handling objections

• He shares his advice about how to make handling objections the most productive part of the selling process

• To view the video, click here • http://www.youtube.com/watch?v=zo4BFaXhFz0

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Chapter Objectives

• Understand what a sales objection is.

• Learn how overcoming objections can strengthen a relationship.

• Understand when and why prospects raise objections.

• Learn strategies to handle objections.

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What are Objections?

• Sales objections: Prospect questions or hesitancies about either the product or company

– Signals your prospect’s level of interest

– Alerts you to what actions need to be taken to bring the sale to a close

– Helps you build your relationship

– Helps in finding the true reason for resistance

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Objections as Opportunities

• Objections should be considered as an extension of the selling process

• To understand better what your prospect wants and needs - don’t avoid objections; encourage them

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Consider Objections Before they Occur

• Strategies for preparing for the objections that will build your relationship with the customer:

– Understand your prospect and believe in your partnership

– Do not lose sight of your prospect’s buying motivations

– Understand your prospects risk factors

– Think about every possible objection the prospect might express

– Be proactive and prepared to raise objections first

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Why Prospects Object

• No or not enough money

• No perceived need

• No sense of urgency

• No trust

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How to Handle Objections

• Consider the objection as a question

• Respond to the objection with a question

• Restate the objection before answering the objection

• Take a pause before responding

• Use testimonials and past experiences

• Never argue with the prospect

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Types of Objections

• Product objection: A concern voiced by the prospect relating directly to the product

• Source objection: A barrier presented by the prospect relating to your company or to you

• Price objection: A concern voiced by the prospect about the perceived value of a product or service

• Money objection: A concern voiced by the prospect that relates to the budget or financial ability to make the purchase

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Types of Objections

• “I’m already satisfied” objection: A barrier presented by the prospect that indicates that there is no need for the product or service

• Hidden objection: An objection that is not openly stated by the prospect but is an obstacle in the way of making the sale

• “I have to think about it” objection: An objection that is actually a stall

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Handling the Price Objection

• The video Price Too High features best-selling author and sales expert Jeffrey Gitomer

• Jeffrey Gitomer discusses how to handle the price objection

• To view the video, click view• http://www.youtube.com/watch?v=xrG_SFgcCHc

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Is Being Satisfied Good Enough?

• The video Engage the Prospect features best-selling author and sales expert Jeffrey Gitomer

• Jeffrey Gitomer explains how you can engage your prospect by taking away the objection before they have a choice to raise it

• To view the video, click here• http://www.youtube.com/watch?v=OCecpcnhqLQ&feature=related

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Ultimate Stall

• The video I'd like to think about it - and other sales stalls features Best-Selling Author and Sales Expert Jeffrey Gitomer

• Jeffrey Gitomer refers to the “I'd like to think about it” statement as a stall and not as an objection

• To view the video, click here • http://www.youtube.com/watch?v=cCyf8af78A8&feature=related

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Selling U: How to Overcome Objections In a Job Interview

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Common Interview “Objections”

• You don’t have enough experience

• I’m not sure you will fit in with the team

• The position doesn’t pay as much as you are looking for

• You’re too experienced for this position

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Hidden Objections during Job Interviews

• Hidden objections occur because:

– Prospective employers interview all the candidates, and then make their hiring decision

– Prospective employers respond in a neutral way during an interview

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Follow Up after Job Interviews: Set Yourself Apart

• Sending a thank-you e-mail after a job interview to the prospective employer

• Writing a handwritten thank-you note to the prospective employer

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Sample Thank-You E-mail

Sample Thank-You E-mail.PNG

Click below toview full-size

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Figure 11.7 - Sample Handwritten Thank-You Note

Sample Handwritten Thank-You Note.PNG

Click below toview full-size

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Thank-You Note

• The video Job Interviews & Offers : How to Compose a Thank You Letter After a Job Interview

• The speaker explains the different elements of a thank you letter and how each should be taken care of

• To view the video, click here

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What If You Don’t Hear Back?

• It is recommended that you call and follow up when you don’t hear back from the employer or recruiter within the specified time frame

• Continue to do research on the company – When you follow up you can discuss it

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Summary

• Objections help build relationships – Gives you the opportunity to clarify communication and revisit your relationship with the prospect

• Major types of objections: product, source, price, money, “I'm already satisfied”, hidden and thinking about it

• A job interview includes hidden objections

• Follow up after a job interview – powerful way to make yourself memorable post interview