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Chp 12 Prospects Objections ppt

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    Chp 12 Prospects Objections ppt Chp 12 Prospects Objections ppt Presentation Transcript

    • 12- McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
    • Welcome Your Prospect’s Objections Chapter 12
    • Welcome Objections!
      • Accept objections as a challenge
      • People do not want to be taken advantage of
      • Learn to overcome objections
    • What are Objections?
      • Opposition or resistance to information or the salesperson’s request is an objection
    • When Do Prospects Object?
      • Prospect may object any time during sales call
      • Always be ready to handle a prospect’s objections
    • Objections and the Sales Process
      • Objections can occur at any time
      • When objections occur, quickly determine what to do
    • 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
    • Basic Points to Consider in Meeting Objections, cont…
      • Understand objections
        • Request for information
        • A condition (negotiation can overcome a condition)
        • Major or minor objection
        • Practical or psychological objection
    • Practical vs. Psychological
      • Practical
        • Price
        • Product not needed
        • Prospect has overstock
        • Delivery schedules
      • Psychological
        • Resistance to $$
        • Pre-determined beliefs
        • Negative image of company/sales force
    • Categories of Objections
      • Hidden
        • Unwilling to discuss true objections
        • Ask probing questions
      • Stalling
        • I’ll think it over
        • I’ll be ready to buy later this month
        • P. 377
    • Categories of Objections
      • No-Need Objection
        • I’m not interested
        • Thanks for coming by
        • P. 379
      • Money Objection
        • Costs too much/price too high
        • Price Value Formula
          • Price/Value = Cost
    • Categories of Objections
      • Product Objection
        • Risks/competition
      • Source Objection
        • May not like you or your company
    • Exhibit 12.7: Techniques for Meeting Objections
    • Techniques for Meeting Objections
      • Dodge: neither denies, answers, nor ignores
      • Pass up: seasoned salesperson
      • Rephrase: ‘Active listening’ an objection as a question
        • (Exhibit 12-8)
    • Techniques for Meeting Objections
      • Postponing: sometimes necessary
      • Boomerang: send it back
      • Smoke out objections
        • Five-question sequence (Exhibit 12-10)
    • Exhibit 12.10: Five-Question Sequence for the Smoke-Out Back to 12-23
    • Techniques for Meeting Objections, when they are incorrect….
      • Use direct denial tactfully
      • The indirect denial works
        • ‘ I agree’
        • ‘ Yes’
      • Compensation/counterbalance method
        • Show the benefits/value in profits
      • Third party answer
        • Proof of testimony
    • 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
    • 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
    • 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?”
    • 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
    • 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.
    • 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)
    • If You Cannot Overcome the Objection, What Are Three Alternatives to Consider (#3)
      • If 100% sure the customer will not buy
        • Go ahead and close
        • Always ask for the order
        • Allow the buyer to say “no” – don’t say it yourself
        • Your 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
    • Exhibit 12.12: The Procedure to Follow when a Prospect Raises an Objection Prospect raises an objection Response to the objection Use a trial close Move into your presentation Close the sale
    • 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
    • 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 Close Close Close Close Close Close Close Close Close Close Close Close Close Close Close Close
    • 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
    • If After You Meet the Objection You Received a Negative Response to Your Trial Close, What Would You Do? Approach Presentation Trial Close Determine Objections Meet Objections Trial Close Close