Learn to Accept Objections as a Challenge Which, When Handled Correctly, Will benefit you and Your Prospect.- The salesperson should welcome objections and not be taken personally
- The most difficult prospect to handle is one who says “no” and gives no reason
- Objections give you an opportunity to present more information about the product to the customer.
What is an objection and how do you handle the objection?
Objection is honest reasons a customer has for not making a purchase.
1-Product or service objection. 2-Objection to the salesperson or to the company.3-Don't want to make a decision. 4-Price objection: Encompasses several forms of economic excuses and it is simple for the buyer to say. When buyer asks for the price?? Say that it is risky to discuss the product's price until it can be compared to the product's benefits. Once you convey the benefits, price becomes a secondary factor which usually can be dealt with successfully. 5- No need objection.6- Hidden Objection-- The salesperson must ask questions and carefully listen in order to smoke out the prospect's real objection.
Other Classifications
1-Major or minor objection. 2-Practical or psychological objection. 3-Practical (overt). 4-Psychological (hidden).
1-Major or minor objection. 2-Practical or psychological objection. 3-Practical (overt). 4-Psychological (hidden).
1-Keep the buyers attitude toward your product positive. 2-Let buyers know you are on their side. 3-Help with objections. 4-If you get no response, give a multiple choice question to display an attitude of genuine caring. 5-Your goal is to help your prospect realistically examine reasons for and against buying now. 6-The main thing is not to be satisfied with a false objection or stall. 7-Bring out any or all of your main selling benefits now and keep on selling.
A Negotiating Strategy for Handling Buyers’ Concerns (5 steps)
1-Listen Carefully
-Hear the Prospect Out
2-Confirm Your Understanding of the Objection -Validate the Problem
-Clarify and Classify
-Use confirmation questions
- Ask if there is anything else
- Try to distinguish between genuine objections and excuses
-Clarify and Classify
-Use confirmation questions
- Ask if there is anything else
- Try to distinguish between genuine objections and excuses
3- Acknowledge their Point of View -That is a logical question
-Restate or rephrase in your own words
-Use words such as, “I understand how you feel”
-Prepare the prospect for your answer
-Restate or rephrase in your own words
-Use words such as, “I understand how you feel”
-Prepare the prospect for your answer
4-Select a specific technique Base your decision on: -The prospect's behavioral style
-Phase of the interview
-The prospect's mood
-The number of times that this objection came up
-The type of objection
-Phase of the interview
-The prospect's mood
-The number of times that this objection came up
-The type of objection
5-Answer the objection -Confirm with the buyer that you have answered the objection
-Attempt to Close
-Continue the Presentation If You do Not Succeed
-Attempt to Close
-Continue the Presentation If You do Not Succeed
Specific Techniques for Handling Objections
1-Product comparison1- Compare advantages and disadvantages
2- When the prospect is mentally comparing the present product or a competing product with your product, you may make a complete comparison of the two
2-Case history or testimonial - Describe the experience of a customer whose situation is similar to that of the prospect
3- Demonstration 1- One of the most convincing ways to overcome buyer resistance and specific objections.
2- Sometimes a second demonstration is needed to overcome buyer skepticism.
4-Guarantees or warranty 1- Removes resistance by reassuring that the purchase will not result in a loss.
2- Guarantees must: be meaningful - provide for recourse on the part of the customer
5-Cost of delaying 1- The prospect wants to wait a while before making a final decision.
2- Use pencil and paper to show that delaying the purchase is expensive.
6-Boomerang
1-The objection comes back to the customer as a selling point.
2-Do not sound like you are trying to outwit the customer.
3-Use a friendly, helpful tone of voice.
7- Direct Denial
1- Considered a high risk method of handling buyer resistance. Use it with care.
2- If the buyer resistance is not valid, there may be no other option than to refute it by providing accurate information.
8- Indirect Denial 1- Acknowledge that the prospect is at least partially correct.
2- It initially appears as agreement with the customer's objection but moves into denial of the fundamental issue.
3- If done in a natural, conversational way the salesperson will not offend the prospect.
4- Rephrase or have the prospect rephrase
5- Blame yourself
6- Give the facts that answer the objection
1-Product comparison1- Compare advantages and disadvantages
2- When the prospect is mentally comparing the present product or a competing product with your product, you may make a complete comparison of the two
2-Case history or testimonial - Describe the experience of a customer whose situation is similar to that of the prospect
3- Demonstration 1- One of the most convincing ways to overcome buyer resistance and specific objections.
2- Sometimes a second demonstration is needed to overcome buyer skepticism.
4-Guarantees or warranty 1- Removes resistance by reassuring that the purchase will not result in a loss.
2- Guarantees must: be meaningful - provide for recourse on the part of the customer
5-Cost of delaying 1- The prospect wants to wait a while before making a final decision.
2- Use pencil and paper to show that delaying the purchase is expensive.
6-Boomerang
1-The objection comes back to the customer as a selling point.
2-Do not sound like you are trying to outwit the customer.
3-Use a friendly, helpful tone of voice.
7- Direct Denial
1- Considered a high risk method of handling buyer resistance. Use it with care.
2- If the buyer resistance is not valid, there may be no other option than to refute it by providing accurate information.
8- Indirect Denial 1- Acknowledge that the prospect is at least partially correct.
2- It initially appears as agreement with the customer's objection but moves into denial of the fundamental issue.
3- If done in a natural, conversational way the salesperson will not offend the prospect.
4- Rephrase or have the prospect rephrase
5- Blame yourself
6- Give the facts that answer the objection
The most difficult objection type is price objection and When Dealing with Price Resistance
DO
- Add value with a cluster of satisfactions.
- Point out the relationship between price and quality.
- Explain the difference between price and cost.
- Employ the Presumption of Exclusivity
1- Stress your product's exclusive features
2- Identify extras that only come from you
3- Sell quality, exclusivity and differential features
- Sell Down
1- All prospects have a buying range
2- Show the best first and then let the prospect reduce price by removing features or lowering quality
DON'T
- Apologize for the price.
- Make price the focal point of your sales presentation.
- Become demanding
- Become defensive
- Become hostile
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