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People Don’t
Buy Products;
They Buy The
Person Selling It
Sincerity Of A Sales Person
The Quality Of The Product
Reliability Of Service
The Price
Amount Of Risk Involved
Open Questions
Probing Questions
Closed
Questions
Prospecting
Building
Rapport
Identifying
Needs
Delivering
Persuasive
Presentations
Overcoming
Objections
Getting
Repeat
Sales &
Referrals
The Process Of Identifying Whether The
Client We Are Reaching Out To Is “Right
Customer”. It Means Identifying The
Potential Buyers OR separating
prospects from suspects.
Sales
Prospecting
The definition of rapport is a feeling of
commonality; people like people who
are like themselves. So, if you want to
build rapport, you need to demonstrate
commonality.
Rapport Building
The Process Of Identifying
Needs & Requirements Of
Your Prospect By Asking Close
& Open Ended Questions
Identifying Needs
Persuasive
Presentations
If you can't get referrals for
whatever reason, you should at
least ask your customers if you can
use them as references. Having
references for your prospects to
call on makes ​building trust much
easier.
Overcoming Objections
If You Learn To Approach
Anticipated Objections From
Customers As An Opportunity To
Tout An Aspect Of Your Product Or
Service, You'll Come To Welcome
Them.
Closing Sales
When you are confident that all
customer's questions have been
answered, that's when you can
seek the commitment to buy.
When you are confident that all
customer's questions have been
answered, that's when you can
seek the commitment to buy.
Getting Repeat Sales &
Referrals
What Is An Objection?
Objections/Discomforts are generally around price, product fit, post sale
service, future uncertainties, competitors, and good old-fashioned brush
offs.
When You Hear The Word Objection, Your
First Instinct Is Of Something Negative. To A
Salesperson An Objection Is A Good Thing. It
Tells You That The Customer Is Interested.
1 •Objections
2 •Excuses
Honest Reason
A Customer Has
For Not Making
A Purchase
Insincere
Reasons For
Not Making A
Purchase
MostCommonSalesObjections
Price objections - no budget, no money, the price is too high, need a discount to
buy
Not a good fit- the product doesn’t make sense, too hard to integrate, not for me
Not interested - brushing off, we don’t need this, “It’s not you, it’s me”
Too busy - can’t talk right now, maybe later, send the information in an email
Gatekeepers - passing the buck, you need to talk to someone else, “I don’t have
authority”
Competition - we’re going with a competitor, [X] product is better, we’re already
locked into a contract
Objections Interpretation
• When a prospect says your product is too expensive,
it isn’t always about price. In many cases, they have
the budget for your product, but you haven’t
demonstrated enough value to justify your price.
• But sometimes it isn’t about price or value.
Sometimes your prospects will use the pricing
objection to hide their real concerns. The first thing
you need to do when you hear the pricing objection
is find out what’s really going on.
Price
objections
• When your lead throws this one out there, it’s hard
to press further because it’s likely true that they
simply can’t afford you - right now. The best way to
counter this is with strategically-placed follow-ups
based on their growth.
• Track what’s going on over there, and pounce again
when you see some growth that might allow for you
to sneak into the budget.
We have
no money.”
• This is very similar to the no money objection
listed above, yet it differs in one key way you
can utilize to change your prospect’s mind:
funding will return eventually.
• You can counter this problem in 2 ways:
1. Ask your lead when the cash flow will return
to them, and follow-up then
2. Work with your prospect to brainstorm ways
you can allocate some of the budget to your
product or service.
- especially if your service is something that
will help them save money
We’ve already
spent our
budget.”
• This objection means that the potential is there
to spend money on what you’re offering, but
your prospect just doesn’t see it as a priority
compared to other things, so they’re putting
the money elsewhere.
• The best way to counter this is with specific
examples or case studies on how other
companies like theirs benefited from
implementing your solution, and bonus points
if you can show them how they’ll actually save
money using you. That will make it awfully hard
for your lead to object to when it comes to
budgeting and resource allocation.
“I need to allocate
this budget
elsewhere.”
Your Product
Looks But Price Is
Too High
• Many people don’t want to get tied into a contract,
especially if it’s for up to a year. This puts their cash
flow availability at risk, and makes the commitment
they make to you today a lot more serious than
signing up for one month, or one quarter.
• Another thing they might be saying is “I need to
think this over” - because they need to make sure it
will be worth the commitment. To counter a “I need
to think it over” that becomes a “No,” see if you can
offer shorter terms, or allow an option for them to
leave the contract after 6 months.
• That safety net might mean the world to them, but if
your product is good enough, they probably won’t
exercise that right down the road.
“I don’t want to
be stuck in a
contract.”
• Whenever a prospect throws out the idea of getting
a discount before they even try your product, don't
give in. Instead, refocus the conversation on what
matters most: your product, and even more
importantly, the value it will create for your
prospect.
• Instead of engaging in cumbersome discount
negotiations, use this technique to weed out bad
fits, and demonstrate value to prospective
customers.
Another Option Is
Cheaper
• You’ll find that many people are hesitant to change
anything when things seem to be going well.
However, if you can get them to spill the beans
about any issues they’re experiencing that you may
be able to solve, then you have an in.
• If they really think everything is perfect as is, you
might want to give up on that prospect and move
on.
I’m happy with the
way things are.
• Well, it’s difficult to argue with that logic - if your
service is completely identical to another but costs
more. But is that usually the case? No! If it was, you
wouldn’t be in business for very long. With this
objection, you need to convince your lead that
cheaper isn’t always better.
• Show they exactly why your service costs more -
and show them why that actually means it’s better.
Demonstrate how some of your advanced features
that they would be paying for will help them
increase their own sales and make more money, or
how it will streamline processes, saving time for
employees.
• Your prospect may have good intentions when they
promise to get back to you, but you’ll probably never
hear from them again. When you leave the
responsibility of follow-up to your prospects, you’re
basically surrendering the deal.
• Agree to send them more information, but don’t
hang up yet. Ask them an open-ended follow-up
question like, “Just so I know what to include in my
email, can you tell me…” Usually that will lower their
guard enough to start a conversation, and you won’t
end up needing that email after all.
Email Me More
Information
• If you hear this objection early in the sales cycle, your
prospect is just trying to get you off the phone. Your
response needs to convey that you only need a few
moments of their time to provide a ton of value.
• If you hear it later in the sales cycle, it means you’ve
dropped the ball; they were interested, and now they
aren’t. Your price has exceeded your perceived value
and, until you tip the scales, you won’t close the deal.
I Don’t Have
Time To Talk
Right Now
Objection handling 2020

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Objection handling 2020

  • 1.
  • 2. People Don’t Buy Products; They Buy The Person Selling It
  • 3. Sincerity Of A Sales Person The Quality Of The Product Reliability Of Service The Price Amount Of Risk Involved
  • 6. The Process Of Identifying Whether The Client We Are Reaching Out To Is “Right Customer”. It Means Identifying The Potential Buyers OR separating prospects from suspects. Sales Prospecting
  • 7. The definition of rapport is a feeling of commonality; people like people who are like themselves. So, if you want to build rapport, you need to demonstrate commonality. Rapport Building
  • 8. The Process Of Identifying Needs & Requirements Of Your Prospect By Asking Close & Open Ended Questions Identifying Needs
  • 9. Persuasive Presentations If you can't get referrals for whatever reason, you should at least ask your customers if you can use them as references. Having references for your prospects to call on makes ​building trust much easier.
  • 10. Overcoming Objections If You Learn To Approach Anticipated Objections From Customers As An Opportunity To Tout An Aspect Of Your Product Or Service, You'll Come To Welcome Them.
  • 11. Closing Sales When you are confident that all customer's questions have been answered, that's when you can seek the commitment to buy.
  • 12. When you are confident that all customer's questions have been answered, that's when you can seek the commitment to buy. Getting Repeat Sales & Referrals
  • 13.
  • 14. What Is An Objection? Objections/Discomforts are generally around price, product fit, post sale service, future uncertainties, competitors, and good old-fashioned brush offs. When You Hear The Word Objection, Your First Instinct Is Of Something Negative. To A Salesperson An Objection Is A Good Thing. It Tells You That The Customer Is Interested.
  • 16. Honest Reason A Customer Has For Not Making A Purchase Insincere Reasons For Not Making A Purchase
  • 17.
  • 19. Price objections - no budget, no money, the price is too high, need a discount to buy Not a good fit- the product doesn’t make sense, too hard to integrate, not for me Not interested - brushing off, we don’t need this, “It’s not you, it’s me” Too busy - can’t talk right now, maybe later, send the information in an email Gatekeepers - passing the buck, you need to talk to someone else, “I don’t have authority” Competition - we’re going with a competitor, [X] product is better, we’re already locked into a contract Objections Interpretation
  • 20. • When a prospect says your product is too expensive, it isn’t always about price. In many cases, they have the budget for your product, but you haven’t demonstrated enough value to justify your price. • But sometimes it isn’t about price or value. Sometimes your prospects will use the pricing objection to hide their real concerns. The first thing you need to do when you hear the pricing objection is find out what’s really going on. Price objections • When your lead throws this one out there, it’s hard to press further because it’s likely true that they simply can’t afford you - right now. The best way to counter this is with strategically-placed follow-ups based on their growth. • Track what’s going on over there, and pounce again when you see some growth that might allow for you to sneak into the budget. We have no money.”
  • 21. • This is very similar to the no money objection listed above, yet it differs in one key way you can utilize to change your prospect’s mind: funding will return eventually. • You can counter this problem in 2 ways: 1. Ask your lead when the cash flow will return to them, and follow-up then 2. Work with your prospect to brainstorm ways you can allocate some of the budget to your product or service. - especially if your service is something that will help them save money We’ve already spent our budget.” • This objection means that the potential is there to spend money on what you’re offering, but your prospect just doesn’t see it as a priority compared to other things, so they’re putting the money elsewhere. • The best way to counter this is with specific examples or case studies on how other companies like theirs benefited from implementing your solution, and bonus points if you can show them how they’ll actually save money using you. That will make it awfully hard for your lead to object to when it comes to budgeting and resource allocation. “I need to allocate this budget elsewhere.”
  • 22. Your Product Looks But Price Is Too High • Many people don’t want to get tied into a contract, especially if it’s for up to a year. This puts their cash flow availability at risk, and makes the commitment they make to you today a lot more serious than signing up for one month, or one quarter. • Another thing they might be saying is “I need to think this over” - because they need to make sure it will be worth the commitment. To counter a “I need to think it over” that becomes a “No,” see if you can offer shorter terms, or allow an option for them to leave the contract after 6 months. • That safety net might mean the world to them, but if your product is good enough, they probably won’t exercise that right down the road. “I don’t want to be stuck in a contract.” • Whenever a prospect throws out the idea of getting a discount before they even try your product, don't give in. Instead, refocus the conversation on what matters most: your product, and even more importantly, the value it will create for your prospect. • Instead of engaging in cumbersome discount negotiations, use this technique to weed out bad fits, and demonstrate value to prospective customers.
  • 23. Another Option Is Cheaper • You’ll find that many people are hesitant to change anything when things seem to be going well. However, if you can get them to spill the beans about any issues they’re experiencing that you may be able to solve, then you have an in. • If they really think everything is perfect as is, you might want to give up on that prospect and move on. I’m happy with the way things are. • Well, it’s difficult to argue with that logic - if your service is completely identical to another but costs more. But is that usually the case? No! If it was, you wouldn’t be in business for very long. With this objection, you need to convince your lead that cheaper isn’t always better. • Show they exactly why your service costs more - and show them why that actually means it’s better. Demonstrate how some of your advanced features that they would be paying for will help them increase their own sales and make more money, or how it will streamline processes, saving time for employees.
  • 24. • Your prospect may have good intentions when they promise to get back to you, but you’ll probably never hear from them again. When you leave the responsibility of follow-up to your prospects, you’re basically surrendering the deal. • Agree to send them more information, but don’t hang up yet. Ask them an open-ended follow-up question like, “Just so I know what to include in my email, can you tell me…” Usually that will lower their guard enough to start a conversation, and you won’t end up needing that email after all. Email Me More Information • If you hear this objection early in the sales cycle, your prospect is just trying to get you off the phone. Your response needs to convey that you only need a few moments of their time to provide a ton of value. • If you hear it later in the sales cycle, it means you’ve dropped the ball; they were interested, and now they aren’t. Your price has exceeded your perceived value and, until you tip the scales, you won’t close the deal. I Don’t Have Time To Talk Right Now