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Transcript of Welcome Your Prospect’s Objections Chapter 12. 12-2 Welcome Objections! Accept objections as a...
Welcome Your Prospect’s Objections
Chapter12
12-2
Welcome Objections!
Accept objections as a challenge People do not want to be taken
advantage of Learn to overcome objections
12-3
What are Objections?
Opposition or resistance to information or the salesperson’s request is an objection
12-4
Prospect may object any time during sales call
Always be ready to handle a prospect’s objections
When Do Prospects Object?
12-5
Objections and the Sales Process
Objections can occur at any time When objections occur, quickly
determine what to do
12-6
Basic Points to Consider in Meeting Objections
Plan for objections Anticipate objection before it arises Handle objections as they arise –
postponement may cause a negative mental picture or reaction
Be positive Listen – hear them out
12-77
SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Why It's ImportantWhy It's Important
Anticipating and planning potential answers to objections will help you feel more confident in your responses to customers. Selecting the most appropriate method for handling those objections will set you apart from other salespeople who do not have that expertise.
12-88
SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Objections are concerns, hesitations, doubts, or other honest reasons a customer has for not making a purchase. Objections give you an opportunity to present more information to the customer.
Excuses are insincere reasons for not buying or not seeing the salesperson.
Understanding Objections
12-99
SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Welcome and Plan for Objections
Objections can guide you in the sales process by helping you redefine the customer's needs and determine when the customer wants more information.
Prepare yourself for most objections by completing an objection analysis sheet, which lists common objections and possible responses to them.
12-1010
SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Common ObjectionsMost objections are based on key decisions the customer must make before buying:
need
product
source
price
time
Slide 1 of 3
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SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Common Objections
Need The customer does not have an immediate need for the item or wants the item but does not truly need it.
Product The customer is concerned about such things as construction, ease of use, quality, color, size, or style.
Slide 2 of 3
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SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Source The customer has had negative past experiences with the firm or brand.
Price The customer does not want to spend so much money.
Time The customer is hesitant to buy immediately (sometimes an excuse).
Common Objections
Slide 3 of 3
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SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Successful salespeople have learned to use a very basic, four-step strategy when answering all objections:
Listen carefully.
Acknowledge the customer's objections.
Restate the objections.
Answer the objections.
Four-Step Process for Handling Objections
Slide 1 of 4
12-1414
SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Listen Carefully To demonstrate sincere concern for your customer's objections, be attentive, maintain eye contact, and let the customer talk.
Four-Step Process for Handling Objections
Slide 2 of 4
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SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Acknowledge the Customer's Objections Acknowledging objections demonstrates that you understand and care about the customer's concerns. This makes a customer feel that his or her objections are understandable, valid, and worthy of further discussion.
Four-Step Process for Handling Objections
Slide 3 of 4
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SECTION 14.2SECTION 14.2 Handling Customer ObjectionsHandling Customer Objections
Restate the Objections To be sure you understand the customer, paraphrase the objections (restate them in a different way), but don't change the meaning of the customer's objection.
Answer the Objections Answer each objection tactfully. Think of yourself as a consultant, using the objections to further define or redefine the customer's needs.
Four-Step Process for Handling Objections
Slide 4 of 4
12-17
Basic Points to Consider in Meeting Objections, cont…
Understand objectionsRequest for informationA condition (negotiation can overcome a
condition)Major or minor objectionPractical or psychological objection
12-18
Practical vs. Psychological
PracticalPriceProduct not neededProspect has overstockDelivery schedules
PsychologicalResistance to $$Pre-determined beliefsNegative image of company/sales force
12-19
Categories of Objections
HiddenUnwilling to discuss true objectionsAsk probing questions
Stalling I’ll think it over I’ll be ready to buy later this month
12-20
Categories of Objections
No-Need Objection I’m not interestedThanks for coming by
Money ObjectionCosts too much/price too highPrice Value Formula
Price/Value = Cost
12-21
Categories of Objections
Product ObjectionRisks/competition
Source ObjectionMay not like you or your company
12-22
Exhibit 12.10: Five-Question Sequence for the Smoke-Out
Back to 12-23
12-23
Techniques for Meeting Objections, when they are
incorrect…. Use direct denial tactfully The indirect denial works
‘I agree’ ‘Yes’
Compensation/counterbalance methodShow the benefits/value in profits
Third party answerProof of testimony
12-24
Let’s Review! When Is It Time to Use a Trial Close?
After making a strong selling point in the presentation
After the presentation but before the close
After answering an objection Immediately before you move to close
the sale
12-25
Let’s Review! What Does the Trial Close Allow You to Determine?
Whether the prospect likes your product’s FAB – the strong selling point
Whether you have successfully answered the objection
Whether any objections remain Whether the prospect is ready for you
to close the sale
12-26
What is an Example of a Trial Close Used to Respond to an Objection?
“Does that answer your question?” “With that question out of the way, we
can go ahead – don’t you think?”
12-27
Once You Have Satisfactorily Responded to the Objection, What Should You Do
Next?* Make a smooth transition back into your
presentation “As we were discussing…”
Move to close the sale if you have completed your presentation
Move to close again if objection was after a close
12-28
If you Cannot Overcome the Objection, What
Are Three Alternatives to Consider? (#1) Return to presentation concentrating on
new or previously discussed FABs of your project.
12-29
If you Cannot Overcome the Objection, What Are Three Alternatives to
Consider? (#2) Admit it Compensate for it by showing how your
product’s benefit(s) outweigh the disadvantage(s)
12-30
If You Cannot Overcome the Objection, What Are Three Alternatives to Consider
(#3) If 100% sure the customer will not buy
Go ahead and closeAlways ask for the orderAllow the buyer to say “no” – don’t say it
yourselfYour competitor(s) may not be able to
overcome the objection(s) either A competitor may make the sale because he/she
asked for it
Be professional, not pushy Leave the door open for a return visit
12-31
Exhibit 12.12: The Procedure to Follow when a Prospect Raises an
Objection
Prospect raises an objection
Prospect raises an objection
Response to the objection
Response to the objection Use a trial closeUse a trial close
Move into your presentation
Move into your presentation
Close the saleClose the sale
12-32
If After Your Presentation You Received a Positive
Response to Your Trial Close, What Would You Do?
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-33
If After You Meet the Objection You Received a Positive Response to Your Trial Close, What
Would You Do?
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
CloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseClose
12-34
If After Your Presentation You Received a Negative
Response to Your Trial Close, What Would You Do?
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
12-35
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
If After You Meet the Objection You Received a Negative Response to Your Trial Close, What
Would You Do?