Overcoming objections

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Overcoming objections

  1. 1. What is an objection? Don't Confuse an Objection with Request for Information An objection is a statement made by your customer that s/he is not sure what the service or product that you are selling is about. They are still on the line and thus are still interested. Difference between excuse and objection • An excuse is a weak reason why something cannot be achieved or completed. An objection is a concern or question for more information about that topic. • The customer who makes an excuse is usually making up a reason why the can’t buy your product / service from you today
  2. 2. Objections – Good Or Bad???
  3. 3. Sales Objections Are Sales Opportunities • Most salespeople think of objections as a bad thing... but they're missing the big picture. • If your customers raise an objection, that's actually a GOOD sign! • The fact that they're talking about their concern means that they're giving you a chance to answer it.
  4. 4. Question: When do customers object? Answer: A customer can object any time during your sales call , from introduction until closing.
  5. 5. Did you know? 44% of sales people give up after the 1st objection 22% of sales people give up after the 2nd objection 16% of sales people give up after the 3rd objection 10% of sales people give up after the 4th objection Only 8% of sales people continue to sell after 4 objections! 73% of the clients will buy after the 4th objection!
  6. 6. Attitude Towards Objections Objection An objection is anything the customers says or does that is an obstacle for a smooth closing. Welcome • Learn to accept objections as a challenge Objections! which, when handled correctly, will benefit you and your customer. • If you fear objections you will fumble when you respond, which often causes you to fail. • Customers that buy have 58% more objections.
  7. 7. Why Customers Object? Psychological Reasons: • Dislike decision making • Prefer old habits • Reluctance to give up something old for something new • Unpleasant experience with other companies.
  8. 8. Why Customers Object? Logical Reasons: • The customer isn’t convinced • The customer doesn't understand • The customer is attempting to hide the reason. (Objections are either real or fake)
  9. 9. How can I tell the difference between fake & real objections? OJECTION FAKE The customer is hiding the real reason, often because of embarrassment or to avoid conflict. REAL Serious objection will be repeated over again
  10. 10. Answering Immediately Or Postponement of objections may result in: • • • • • • The customer doesn't listen. The customer feels like you are hiding something. The appearance that you also feel it's a problem. The appearance that you're not able to answer because you do not know the answer. The appearance that you are uninterested in the customer’s opinion. The appearance that you are not sympathetic
  11. 11. Disagree Without Being Disagreeable • Selling should be win-win • Challenge ideas without offending You can use sentience like: "I may have not made myself clear......“ "You raise an excellent point…..“ “I am glad you mentioned that because it gives me the chance to show you how our product will solve that problem.” “Mr. _____, I understand what you’re saying. Another client asked me the same question. Here is how I worked with him to satisfy his concern …’”
  12. 12. The Customer Must Agree That: •They need your product or service •Your product is the solution to their problem •You are the person from whom they should buy •Your company is the one to deal with •The time to buy is now •The price and terms are fair
  13. 13. A Negotiating Strategy for Handling Buyers’ Concerns Listen Carefully • Hear the customer out 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
  14. 14. Select a specific technique and base your decision on: • The customer’s behavioral style • The customer’s mood • The number of times that this objection came up • The type of objection Answer the objection • Confirm with the customer that you have answered the objection Attempt to Close • Once you've solved the objection, continue with the sales process as usual
  15. 15. Classic Objection Handling Techniques Feel Felt Found IF – THEN • I understand how you feel Turn the objection into a benefit • Customer: "I don't like the size…” • Seller: “this size is exactly the reason you should buy it…” • Many of our customers, felt the same way • Here is what they found. • IF I could get you today…. • THEN will you go ahead with the offer?
  16. 16. Common Objections: Here are several common sales objections you may hear during the selling process, as well as some ideas on how you can overcome each one.
  17. 17. No Money Example: "Your services cost too much. I can get the 'same' service from someone cheaper." • When the bottom line is the biggest hurdle for a client, you need to help him or her justify the cost. Try breaking down your total cost into smaller amounts that are attached to smaller services so the client can see why your price point is what it is. And make sure you focus on the unique value of your products and services that the client won't be able to get from any other provider.
  18. 18. I Have To Think About It “I have to consult with ____” Example: "I need to run this by my wife/business partner/mentor before I do anything else.“ • This can often be a positive outcome, assuming the client is truly consulting with others and not just using it as an excuse. One way to make sure it doesn't end up as a deal-ending sales objection is to attempt to stay in the process. Try suggesting a joint sales meeting between the client and their counterparts in order to answer any questions and help facilitate the decision.
  19. 19. Trust Example: "It seems like you know what you're doing, but how do I know you really have the necessary experience to do this?“ Trust is something that takes time to build, so if it is a hurdle for your potential client, you need to be honest and consistent across the board to overcome the objection. Be forthcoming with information and share testimonials, case studies and references that will take away some of the uncertainty and give the client confidence in your ability to get the job done.
  20. 20. Timing Example: "It's too much for me to take on right now; I'm too busy; Call me again in 6 months.“ If time management or lack of time is an issue for the client right now, chances are it will still be an issue in six months or a year. To overcome this objection, you need to make the decision to hire you an easy one. Start by listing all of the benefits of working with you, outline the value of the products and services you offer, and explain how easy it is to get started. Make the decision to hire you a no-brainer and you will remove this objection.
  21. 21. Conclusions: • Objections are a requirement for a successful sales day. In fact, without them, you’re likely not engaging your customers. • It’s the introduction of an objection that will spark a flow of information. This can help you further qualify a sales opportunity and better understand the needs and current environment of your customers. For this reason, you should work to embrace and understand the true objections you might be facing. • Understanding the true objections will help you get one step closer to where you need to be – whether it’s to the next stage with your current customer or towards investing your time elsewhere with a more serious client.
  22. 22. Some General Tips for Handling Objections • Keep the customers attitude toward your product positive. • Let the customers know you are on their side • Help with objections. • Bring out any or all of your main selling benefits now and keep on selling!
  23. 23. GOOD LUCK 

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