Chp 12 Prospects Objections ppt

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Chp 12 Prospects Objections ppt

  1. 1. 12-112-1McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
  2. 2. Welcome Your Prospect’s Objections Chapter 12
  3. 3. 12-3 Welcome Objections!  Accept objections as a challenge  People do not want to be taken advantage of  Learn to overcome objections
  4. 4. 12-4 What are Objections? Opposition or resistance to information or the salesperson’s request is an objection
  5. 5. 12-5  Prospect may object any time during sales call  Always be ready to handle a prospect’s objections When Do Prospects Object?
  6. 6. 12-6 Objections and the Sales Process  Objections can occur at any time  When objections occur, quickly determine what to do
  7. 7. 12-7 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
  8. 8. 12-8 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
  9. 9. 12-9 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
  10. 10. 12-10 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
  11. 11. 12-11 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
  12. 12. 12-12 Categories of Objections  Product Objection Risks/competition  Source Objection May not like you or your company
  13. 13. 12-13 Exhibit 12.7: Techniques for Meeting Objections
  14. 14. 12-14 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)
  15. 15. 12-15 Techniques for Meeting Objections  Postponing: sometimes necessary  Boomerang: send it back  Smoke out objections Five-question sequence (Exhibit 12-10)
  16. 16. 12-16 Exhibit 12.10: Five-Question Sequence for the Smoke-Out Back to 12-23
  17. 17. 12-17 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
  18. 18. 12-18 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
  19. 19. 12-19 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
  20. 20. 12-20 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?”
  21. 21. 12-21 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
  22. 22. 12-22 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.
  23. 23. 12-23 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)
  24. 24. 12-24 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
  25. 25. 12-25 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
  26. 26. 12-26 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
  27. 27. 12-27 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
  28. 28. 12-28 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
  29. 29. 12-29 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?

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