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12-112-1McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
Welcome Your Prospect’s
Objections
Chapter
12
12-3
Welcome Objections!
 Accept objections as a challenge
 People do not want to be taken advantage of
 Learn to overc...
12-4
What are Objections?
Opposition or resistance to information or
the salesperson’s request is an
objection
12-5
 Prospect may object any time during sales
call
 Always be ready to handle a prospect’s
objections
When Do Prospect...
12-6
Objections and the Sales Process
 Objections can occur at any time
 When objections occur, quickly determine
what t...
12-7
Basic Points to Consider in Meeting
Objections
 Plan for objections
 Anticipate objection before it arises
 Handle...
12-8
Basic Points to Consider in Meeting
Objections, cont…
 Understand objections
Request for information
A condition (...
12-9
Practical vs. Psychological
 Practical
Price
Product not needed
Prospect has overstock
Delivery schedules
 Psyc...
12-10
Categories of Objections
 Hidden
Unwilling to discuss true objections
Ask probing questions
 Stalling
I’ll thin...
12-11
Categories of Objections
 No-Need Objection
I’m not interested
Thanks for coming by
P. 379
 Money Objection
Co...
12-12
Categories of Objections
 Product Objection
Risks/competition
 Source Objection
May not like you or your company
12-13
Exhibit 12.7: Techniques for Meeting
Objections
12-14
Techniques for Meeting Objections
 Dodge: neither denies, answers, nor ignores
 Pass up: seasoned salesperson
 Re...
12-15
Techniques for Meeting Objections
 Postponing: sometimes necessary
 Boomerang: send it back
 Smoke out objections...
12-16
Exhibit 12.10: Five-Question Sequence
for the Smoke-Out
Back to 12-23
12-17
Techniques for Meeting Objections,
when they are incorrect….
 Use direct denial tactfully
 The indirect denial wor...
12-18
Let’s Review! When Is It Time to Use a
Trial Close?
 After making a strong selling point in the
presentation
 Afte...
12-19
Let’s Review! What Does the Trial
Close Allow You to Determine?
 Whether the prospect likes your product’s
FAB – th...
12-20
What is an Example of a Trial Close
Used to Respond to an Objection?
 “Does that answer your question?”
 “With tha...
12-21
Once You Have Satisfactorily Responded to
the Objection, What Should You Do Next?*
 Make a smooth transition back i...
12-22
If you Cannot Overcome the Objection, What
Are Three Alternatives to Consider? (#1)
 Return to presentation concent...
12-23
If you Cannot Overcome the Objection, What
Are Three Alternatives to Consider? (#2)
 Admit it
 Compensate for it b...
12-24
If You Cannot Overcome the Objection, What
Are Three Alternatives to Consider (#3)
 If 100% sure the customer will ...
12-25
Exhibit 12.12: The Procedure to Follow
when a Prospect Raises an Objection
Prospect raises
an objection
Prospect rai...
12-26
If After Your Presentation You Received a Positive
Response to Your Trial Close, What Would You Do?
Approach
Present...
12-27
If After You Meet the Objection You Received a Positive
Response to Your Trial Close, What Would You Do?
Approach
Pr...
12-28
If After Your Presentation You Received a Negative
Response to Your Trial Close, What Would You Do?
Approach
Present...
12-29
Approach
Presentation
Trial Close
Determine Objections
Meet Objections
Trial Close
Close
If After You Meet the Objec...
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Transcript of "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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