Objectionable Objections Handling objections in a positive way
Objectionable Objections Handling objections in a positive way
1. Find the Real Objection. One thing to always remember is that the 1st objection is usually not the REAL objection. The first objection is typically a delay tactic or smoke screen so the prospect doesn’t have to commit to a decision. If they say something like, “I have to think about it,” don’t say okay and leave. Ask them what it is they need to think about and how you can help by answering any questions they may still have or clear up any outstanding issues. If they then say that what they need to think about is the price, for instance, then you’ve just uncovered their true objection, which is the second one they mention. Sometimes, you may hear 3 or 4 objections before you get to the real one. So remember to keep asking exactly what it is they are objecting to so you can get to their true objection, and so you can resolve it in order to get their business.
2. Don’t Argue. By all means, never argue with the prospect. We’ve all heard the phrase about the customer always being right. Well, here’s a myth buster – the customer is NOT always right. But they are always right in their mind. And that’s what you have to remember. If they believe they are right, then perception is reality and you have to work with that. That means you don’t argue with them.
3. Don’t Get Defensive. If they say the price is too high, don’t say, “What do you mean it’s too high. Have you seen the prices of some of those other products out there?” We’ll talk about how to handle these sorts of objections shortly, but remember that you should not get defensive when the customer challenges you.
4. Don’t React. When hit with an objection, Act don’t React. You can’t get emotional. You want to acknowledge their objection with neutralizing statements, such as, “I understand” or “Yes, you’re right.”
5. It’s Not Personal. Remember that they are not necessarily objecting to you or your product. So don’t take it personally. They are saying that you haven’t convinced them to buy yet. They still have what’s called FUDs, or Fears, Uncertainties, and Doubts. So you have to address those FUDs before proceeding with the close.
6. Don’t Hide. You have to confront the real objection. As I said earlier, ask them what it is they need to think about or what it is they are concerned about. They may say something like, “The last time I dealt with your company, my paperwork was a mess!” You have to handle that objection in a positive and respectful way. You can say something like, “I understand. Our old system was very antiquated. Our new system is state of the art and the problem no longer exists.”
If you try to proceed with the close without addressing the true objection, such as these I just mentioned, you will fail. I recommend that you start building a list of all the objections you ever heard from your prospects and customers and develop a statement that can handle each one. Keep this list with you, add to it every time you hear a new objection, and memorize the responses. You’ll find that your ability to handle objections will become easier, natural and successful for both you and your client.
Selling Value
A very common objection you may here is one about your price. Keep in mind that people don’t buy Price, they buy Value, even though they won’t always admit it. But this objection means that they don’t fully appreciate the Value of what you are selling. However, if this objection keeps coming up in your discussions, then it is a good indication that they are interested. So don’t view this as a negative objection since it could simply be a buying sign. Unfortunately, many sales people start to discount their product in order to handle this objection, which is the wrong way to go. The way to handle this objection is to present the Value of your offering so they can fully appreciate what their investment will be for that value.
Let’s look at an example of how this could work. Let’s say that your prospect says, “$50,000 is a lot of money!” You can respond with something like, “I can appreciate that. Yes, it is a lot of money, but not nearly as much as you’d lose with a system that can’t help you sell your product because it doesn’t do the job or is always in for repair.”
First, I made sure that I showed I had empathy for the client by saying that I can appreciate his opinion and that I agree it is a lot of money. Let’s face reality; it IS a lot of money. So don’t deny the obvious. Then I explained what the value is by saying that without this investment, they will continue to lose money by having a product that won’t handle their job or will not withstand their usage and will always be in for repair. I chose these particular “pain” points because I learned that these were important to the prospect when I was in the qualification phase and asked questions and listened to his answers.
Notice also that I did not say that my competitor’s products cannot handle his job or that they are of inferior quality and will always be in for repair. Never knock your competitors. Instead, I planted the seeds that will make him know that my product can handle his workload and is reliable, which should make him wonder if my competitors can make the same claims.
So, let’s now move on to selling value, since I made the point earlier about not discounting. Let’s say that you are selling a product for $5,000. And your competitor’s product costs the same amount. Also, let’s say that your product and company offers 5 key benefits, called A, B, C, D and E. But your competitor’s offering only offers benefits A, B and D. Obviously, you offer more value than your competitor. This is why it is so important to do research about your competitors so you know how you beat them and where you offer more value than them. The value you offer could be product features, or something your company offers like Sunday delivery, or even your own personal service such as follow-through and account management. Whatever it is, make sure you know your competitor’s offerings and what unique offerings you have that they don’t.
In this example you want to make sure that you highlight, to your prospect, the fact that you offer benefits C and E, which no one else does, all for the same “Investment”. By knowing your competitors and selling more value, you will increase your success in handling objections and closing more sales. Wouldn’t this be a better value proposition to say to your prospect, “Mr. X, for the same investment of $5,000. you’ll get all 5 benefits, which is two more than anyone else is offering.”
Now let’s take this same situation and change the customer’s requirements. Say you are still offering your product with 5 benefits, A thru E, for $5,000. And your competitor is still offering their 3 benefits for $5,000. However, your prospect is objecting to the price because their budget is only $3,500. Telling them you offer 2 more benefits than your competitor for $5,000 isn’t going to help because they can’t afford your added value anyway.
One option is for you to drop your price by discounting to $3,500. But that’s not a good approach. Instead, using your value proposition, you take away value instead of discounting.
You tell your prospect that you can eliminate a few benefits, let’s say C and E (since those are benefits your competitors do not offer), and therefore lower the price. As a result, your prospect’s investment will now be $3,500. What you did is made them pay for value instead of discounting. The lower the value, the lower the price. And the lower the price, the lower the value. Now you are selling the exact same benefits as your competitor but for $1,500 less. And you never discounted.
When you are handling objections with your prospect, I hope you can see how important it is to be prepared with what your prospect needs, what you are offering, and what your competitors are offering. With this information, your Negotiating Power will be very high, and both you and your client will win.
Handling objections is all about being prepared and the right timing. If you do a good job up-front with qualifying your prospect, asking the right questions, listening, and building rapport, respect and trust, then I can assure you that you will have fewer objections to deal with when it’s time to close the deal.
Good Luck & Good Selling!
Russ Lombardo
Objectionable Objections Handling objections in a positive way - To learn more about this author, visit Russ Lombardo's Website.
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In sales, you need to prepare for the inevitable objections. You may get many or just a few objections about your product or company. Regardless how many objections you get, there are specific techniques you can use to handle them. Here are 6 tips on how to handle objections.
1. Find the Real Objection. One thing to always remember is that the 1st objection is usually not the REAL objection. The first objection is typically a delay tactic or smoke screen so the prospect doesn’t have to commit to a decision. If they say something like, “I have to think about it,” don’t say okay and leave. Ask them what it is they need to think about and how you can help by answering any questions they may still have or clear up any outstanding issues. If they then say that what they need to think about is the price, for instance, then you’ve just uncovered their true objection, which is the second one they mention. Sometimes, you may hear 3 or 4 objections before you get to the real one. So remember to keep asking exactly what it is they are objecting to so you can get to their true objection, and so you can resolve it in order to get their business.
2. Don’t Argue. By all means, never argue with the prospect. We’ve all heard the phrase about the customer always being right. Well, here’s a myth buster – the customer is NOT always right. But they are always right in their mind. And that’s what you have to remember. If they believe they are right, then perception is reality and you have to work with that. That means you don’t argue with them.
3. Don’t Get Defensive. If they say the price is too high, don’t say, “What do you mean it’s too high. Have you seen the prices of some of those other products out there?” We’ll talk about how to handle these sorts of objections shortly, but remember that you should not get defensive when the customer challenges you.
4. Don’t React. When hit with an objection, Act don’t React. You can’t get emotional. You want to acknowledge their objection with neutralizing statements, such as, “I understand” or “Yes, you’re right.”
5. It’s Not Personal. Remember that they are not necessarily objecting to you or your product. So don’t take it personally. They are saying that you haven’t convinced them to buy yet. They still have what’s called FUDs, or Fears, Uncertainties, and Doubts. So you have to address those FUDs before proceeding with the close.
6. Don’t Hide. You have to confront the real objection. As I said earlier, ask them what it is they need to think about or what it is they are concerned about. They may say something like, “The last time I dealt with your company, my paperwork was a mess!” You have to handle that objection in a positive and respectful way. You can say something like, “I understand. Our old system was very antiquated. Our new system is state of the art and the problem no longer exists.”
If you try to proceed with the close without addressing the true objection, such as these I just mentioned, you will fail. I recommend that you start building a list of all the objections you ever heard from your prospects and customers and develop a statement that can handle each one. Keep this list with you, add to it every time you hear a new objection, and memorize the responses. You’ll find that your ability to handle objections will become easier, natural and successful for both you and your client.
Selling Value
A very common objection you may here is one about your price. Keep in mind that people don’t buy Price, they buy Value, even though they won’t always admit it. But this objection means that they don’t fully appreciate the Value of what you are selling. However, if this objection keeps coming up in your discussions, then it is a good indication that they are interested. So don’t view this as a negative objection since it could simply be a buying sign. Unfortunately, many sales people start to discount their product in order to handle this objection, which is the wrong way to go. The way to handle this objection is to present the Value of your offering so they can fully appreciate what their investment will be for that value.
Let’s look at an example of how this could work. Let’s say that your prospect says, “$50,000 is a lot of money!” You can respond with something like, “I can appreciate that. Yes, it is a lot of money, but not nearly as much as you’d lose with a system that can’t help you sell your product because it doesn’t do the job or is always in for repair.”
First, I made sure that I showed I had empathy for the client by saying that I can appreciate his opinion and that I agree it is a lot of money. Let’s face reality; it IS a lot of money. So don’t deny the obvious. Then I explained what the value is by saying that without this investment, they will continue to lose money by having a product that won’t handle their job or will not withstand their usage and will always be in for repair. I chose these particular “pain” points because I learned that these were important to the prospect when I was in the qualification phase and asked questions and listened to his answers.
Notice also that I did not say that my competitor’s products cannot handle his job or that they are of inferior quality and will always be in for repair. Never knock your competitors. Instead, I planted the seeds that will make him know that my product can handle his workload and is reliable, which should make him wonder if my competitors can make the same claims.
So, let’s now move on to selling value, since I made the point earlier about not discounting. Let’s say that you are selling a product for $5,000. And your competitor’s product costs the same amount. Also, let’s say that your product and company offers 5 key benefits, called A, B, C, D and E. But your competitor’s offering only offers benefits A, B and D. Obviously, you offer more value than your competitor. This is why it is so important to do research about your competitors so you know how you beat them and where you offer more value than them. The value you offer could be product features, or something your company offers like Sunday delivery, or even your own personal service such as follow-through and account management. Whatever it is, make sure you know your competitor’s offerings and what unique offerings you have that they don’t.
In this example you want to make sure that you highlight, to your prospect, the fact that you offer benefits C and E, which no one else does, all for the same “Investment”. By knowing your competitors and selling more value, you will increase your success in handling objections and closing more sales. Wouldn’t this be a better value proposition to say to your prospect, “Mr. X, for the same investment of $5,000. you’ll get all 5 benefits, which is two more than anyone else is offering.”
Now let’s take this same situation and change the customer’s requirements. Say you are still offering your product with 5 benefits, A thru E, for $5,000. And your competitor is still offering their 3 benefits for $5,000. However, your prospect is objecting to the price because their budget is only $3,500. Telling them you offer 2 more benefits than your competitor for $5,000 isn’t going to help because they can’t afford your added value anyway.
One option is for you to drop your price by discounting to $3,500. But that’s not a good approach. Instead, using your value proposition, you take away value instead of discounting.
You tell your prospect that you can eliminate a few benefits, let’s say C and E (since those are benefits your competitors do not offer), and therefore lower the price. As a result, your prospect’s investment will now be $3,500. What you did is made them pay for value instead of discounting. The lower the value, the lower the price. And the lower the price, the lower the value. Now you are selling the exact same benefits as your competitor but for $1,500 less. And you never discounted.
When you are handling objections with your prospect, I hope you can see how important it is to be prepared with what your prospect needs, what you are offering, and what your competitors are offering. With this information, your Negotiating Power will be very high, and both you and your client will win.
Handling objections is all about being prepared and the right timing. If you do a good job up-front with qualifying your prospect, asking the right questions, listening, and building rapport, respect and trust, then I can assure you that you will have fewer objections to deal with when it’s time to close the deal.
Good Luck & Good Selling!
Russ Lombardo
Objectionable Objections Handling objections in a positive way - To learn more about this author, visit Russ Lombardo's Website.
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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