Getting Around Prospect Objections

Dealing with Objections

Sales Training

Michael Halper

What are Objections

• A prospect’s best weapon– Mini stop signs

– Used to take control of the call and take it in a direction of their choosing

• Common Objections:– I am busy right now.– Who are you with?– What is this in regards to?– I am not interested.– Just send me some information.– We already use somebody.– We are not looking to make a change right now.– We do not have budget/money to spend.

Why this Step is Critical

• Bad news:– Face on just about every cold call

• Good news:– There are only around 10 objections that we will consistently

face– By simply preparing for those, we can see an immediate

improvement in performance– Improve mental fortitude

Objections Handling Options

1. Comply

2. Overcome

3. Redirect

Comply

• To give in to the objection

• Example:

Prospect: “I am not interested” Caller: “OK, have a nice day.”

• Weakest response - only use as a last resort

• At some point, we have to comply

• Rule of thumb: Comply after two to three other attempts

Overcome

• To defuse the objection

• Example:

Prospect: “I am not interested” Caller: “OK, but we also have the auto tuning feature and are the global leader doing this for 30 years.”

• Downside to trying to overcome:– Very challenging to change someone’s mind– Can be time consuming – Can give life to the objection

• Tactics: (not recommended during cold calling)– Isolate, then get to the root – Feel, felt, found

Demonstration of OvercomeIsolate, then get to the root

Objection:

Your prices are too high.

Response:

Just to confirm, are you saying that everything else fine and that the price is the only thing that concerns you? (Isolate)

What is it that drives your concern about price? Is there a budget that you are trying to stay with in? Or is it more of a cash outlay factor? (Get to the root)

Not real applicable to cold calling – Your goal is to get to a meeting. That is where you will want to talk about pricing and funding points.

Demonstration of OvercomeFeel, Felt, Found

Objection:

Your prices are too high.

Response:

I understand why you feel that our prices are high. (Feel)

A lot of IT managers that I have brought over felt that same way. (Felt)

But once they switched over, they found that when you add in the reliability of service, the total cost of ownership actually lead to a lower total cost. (Found)

Not real applicable to cold calling – Your goal is to get to a meeting. That is where you will want to talk about pricing and funding points.

Redirect

• To redirect the objection into a related area

• Example:

Prospect: “I am not interested” Caller: “I understand. Do you mind if I ask what you are doing today in this area?”

• Goal of the redirect is to keep the conversation going without focusing on the objection itself

• Tactics:– Redirect qualifying questions– Redirect to value statement– Redirect to pain points– Redirect to building interest points

Demonstration of RedirectingObjection:

I am busy right now.

Response:

I can be very brief or I can call you back at another time.


Who are you with?

Response:

(Redirect to value statement)

I am with ArgaTech and we work with Chemical Companies andhelp them to improve inventory turnover by 20 to 25%.


What is this in regards to?

Response:

(Redirect to value statement)

Purpose for my call is that we work with Chemical Companies and help them to improve inventory turnover by 20 to 25%.


I am not interested.

Response:

I understand. (Redirect to one of the qualifying questions)

Are you currently using any automation tools to manage your inventory levels?

- Or -I understand. And I want you to know that we are not trying to sell anything at this

point. (Redirect to one of the qualifying questions)



Just send me some information. (Early in a cold call – BLOW OFF)

Response:

Sure, I definitely will. So that I know exactly what to send you, let me ask you,

(Redirect to one of the qualifying questions)



Just send me some information. (Late in a cold call – NONCOMMITTAL)

Response:

Sure, I definitely will. Are there some particular details that you have questions about?

If you have a level of interest, it may be easier to have a quick conversation with over the phone on another day instead of me sending over a bunch of information.


We already use somebody for that.

Response:

Oh, good. How long have you been using them? How is it going? What product are you using of theirs? What do you like about working with them? Is there anything that you need that they are not able to provide?

(Redirect to any of the qualifying questions if applicable)


We are not looking at making a change right now.

Response:

I understand. And I want you to know that we are not trying to sell anything at this point as we don’t even know if you are a good fit or not.

Our goal is to simply open the dialogue between our two companies so that if you reach a point where you are ready or looking to make a change, you will know who we are and what we have to offer.




We do not have any budget / money to spend on that right now.

Response:

I understand. And I want you to know that we are not trying to sell anything at this point as we don’t even know if you are a good fit or not.

Our goal is to simply open the dialogue between our two companies so that if you reach a point where there is budget available, you will know who we are and what we have to offer.



Building an Objections Map

• Tool to build to use as a guide for dealing with objections

• List out anticipated objections

• Formulate best responses

• Can include redirects and overcome responses

Reflect Back to Improve Forward

• When a call ends, reflect on what objections the prospect had

• Identify how you responded and if your responses were effective at keeping the call going

• Was there a response that could have been better?

• Update objections map– Add new objections– Improve existing responses

Key Takeaways• You are guaranteed to get objections on every cold call

• You can immediately improve your results by simply listing out the main objections that you can anticipate and scripting responses that stand to keep the calls going

• Not only can this improve results, but it can also help to decrease stress, improve confidence, and improve your mental state

• Focus on redirecting ahead of overcoming to keep calls going

• When a call ends, reflect back to improve your ability to handle future calls

Messaging Workflow

Product

Value

Pain

Qualify

Objections

SalesScripter

www.salesscripter.com

What do you sell? ___________

How does it help? ___________

What problems do you fix? ___________

What questions should you ask? ___________

1. Asks all the key questions 2. Maps answers to document library

If You Want More Help• The Cold Calling Equation – Problem Solved

– Available on Amazon - $15.95

• Web-based training program– Week 1: Ideal Sales Process and Communicating Value– Week 2: Finding Prospect Pain– Week 3: Ideal Prospect and Qualifying– Week 4: Dealing with Objections and Getting Around the Gatekeeper– Week 5: Building Rapport, Interest, and Credibility– Week 6: Generating Leads and SalesScripter Overview– Week 7: Improving the Connect Rate– Week 8: Inner Game– Week 9: Managing Prospecting Meetings and Managing Sales Cycles– Week 10: Improving the Close Rate and Disqualifying

• SalesScripter– www.salesscripter.com – Walk-through services available

• SalesScripter Demonstration – Every Thursday

www.salesscripter.com | [email protected] | 713-802-2026

Getting Around Prospect Objections

Business

Transcript of Getting Around Prospect Objections