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Welcome Your Prospect's Objections

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100% found this document useful (1 vote)
327 views

Welcome Your Prospect's Objections

IT

Uploaded by

Blossom Kaur
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 52

Chapter 11

Welcome Your Prospect’s


Objections
Learning Objectives

11-1: Explain why you should welcome a prospect’s objections.


11-2: Describe what to do when objections arise.
11-3: Discuss seven basic points to consider in meeting a
prospect’s objections.
11-4: Explain six major categories of prospect objections, and
give an example of how to handle each of them.
11-5: Present, illustrate, and use in your presentation several
techniques for meeting prospect objections.
11-6: Describe what to do after meeting an objection.

7-2
The Core Principles: Objections

Welcome objections
• Resistance a salesperson may receive during a sales call

Objections may allow you to answer the prospect’s concern(s)


• Handling objections truthfully shows you provide ethical service in order
to build true relationships

Realize your product or solution may not be for everyone


• If it is not for a particular customer, thank him and politely leave

• If it would benefit the customer, politely, professionally, and ethically,


show how the product could be useful

7-3
Welcome Objections!

Accept objections as a challenge


• When objections arise, view them as challenges to help your
customer

Sales professionals welcome objections


• Recognize resistance is natural
• People do not want to be taken advantage of

Learn to overcome objections


• Understand sources of resistance and how you can assist
your customer overcome their concern or feeling of risk
7-4
What are Objections? 1

Opposition or resistance to information or the


salesperson’s request is an objection
• Objections are natural
• You are asking buyers to make a change (in a
product, in their actions, in a belief, or in a process)
• Change is difficult; its natural for a customer to ask
questions, express hesitation, or to even procrastinate in
making a decision.

7-5
What are Objections? 2

Objections can occur at any


time
• Prospect may object any time
during sales call
• Welcome sales objections:
They indicate prospect interest
• They help determine stage
prospect resides in buying
cycle—attention, interest,
desire, conviction, or readiness
to close.
7-6
©JUPITERIMAGES/Comstock Images/Alamy Stock Photo
When Objections Occur, Quickly Determine
What To Do
Objections can occur at
any time
• During approach
• During presentation
• After a trial close
• During the close

Salespeople need to be
prepared to use several
objection-handling
techniques
7-7
©SelectStock/Getty Images
Basic Points to Consider in Meeting Objections

Plan for objections


Anticipate and forestall
• Integrate answers to potential objections into sales
conversation

Handle objections as they arise – postponement may


cause a negative mental picture or reaction
Be positive
Listen – hear them out

7-8
Handle Objections as They Arise

It is usually best to meet The prospect may stop listening


objections as they arise until you address the objection

The prospect may feel you are


Postponing an objection may trying to hide something
cause a negative mental
picture or reaction such as You also feel it’s a problem
these: You cannot answer because you do
not know the answer or how to deal
with this objection.

It may appear that you are not


interested in the prospect’s opinion

7-9
Understand Objections

Jump to Long Image Description


7-10
Basic Considerations With Objections 1

Understand objections (what does


a prospect mean with an
objection?)
• Request for information

• A condition (negotiation can


overcome a condition)

• Major or minor objection

• Practical or psychological objection

• A real objection is tangible

• The salesperson must uncover hidden


objectives and eliminate them
7-11
©SelectStock/Getty Images
Basic Considerations With Objections 2

Understand objections
• Practical or psychological objection
Practical Objections Psychological Objections
Price Resistance to spending money
Product is not needed Resistance to domination
Prospect has an overstock (excess inventory) Predetermined beliefs
Delivery schedules Negative image of salesperson
Level of profitability Dislikes making a buying decision
Ability to integrate solution into current Resistance to change
processes
Ability of solution to meet buyer’s goals Concerned with how others in the
organization will perceive the decision

7-12
Six Major Categories of Objections

Hidden: Unwilling to discuss reluctance to buy


Stalling: Hesitance often expressed with “I’ll think it over”
No-Need: Hesitance often expressed with “Sounds good… but I’m not interested
now”
Money: Expresses economic hesitation, I have no money” or “it costs too much”
Product: Expresses fears/risks about buying a product
Source: Relay loyalty to present supplier or competition; may express hesitation
with salesperson’s firm or salesperson

Jump to Long Image Description


7-13
How Do You Handle Sales Objections?

The sales objection may:


• Ask for information
• Give strong resistance, hesitation
• Express concern

Remember you want to help the person


• Consider objections a natural part of the sales conversation
• Prepare for them

7-14
Salespeople Need To Be Good Communicators

Handling objections can be challenging


• Done incorrectly, you may appear rude
• Done correctly, you appear professional

Remember, objections demonstrate the buyer is still


engaged in the conversation and sharing a concern
• Objections: Natural element of the sales process
• All solutions will have drawbacks

7-15
Overall Process for Handling Objections

Don’t delay in handling most objections. Handle objections as


they arise.
Be positive: Use positive nonverbal body language.
Acknowledge the concern. Find an area in which you can
empathize with the buyer.
Listen, listen, listen. Don’t immediately respond. Learn about the
underlying concern
Ask questions about objection before responding directly to the
objection
Provide your answer to the objection. Then, use a trial close to
ensure understanding
7-16
Example of Handling Objections: Part 1

Buyer’s Objection
Example: The buyer states, “Well l’m a little hesitant to stock the
quantity you are suggesting, Normally, we sell approximately
one-half of that amount of your competitor’s product. I just
don’t feel comfortable in moving forward with this quantity.”
[Objection].

Acknowledge the Concern


Example: The salesperson states, “I understand it is very
important to align your inventory with your sales. It totally
makes sound business sense.” [Empathize with the buyer].

7-17
Example of Handling Objections: Part 2
Listen & Empathize

Example: The salesperson nods and acknowledges positively the customer’s


concern. The salesperson’s body position is open and they emit green signals
(i.e. positive nonverbal communication signs). Remember, the objection is a
gift. It shows the buyer is still engaged in the conversation

Ask Questions To Understand

Example: The salesperson asks, “Can you share with me how often the
competitor’s product is supported with advertising and promotional
initiatives?” [Ask question to understand]

Example: The customer answers, “Actually, very rarely. In fact, only during the
holidays.” [Customer answer].

7-18
Example of Handling Objections: Part 3

Answer Objection
Example: Now with a better understanding of the concern, the
salesperson answers the objection:
“That makes sense, as the holidays are an important time.
However, I’d like to show you our promotional calendar for our
product. As you will note, we have five months of national
advertising throughout the year. Additionally, we distribute
coupons every four months to drive traffic into your store. As
such, we will invest in marketing to ensure our product moves on
your shelves and into your customer’s shopping carts.” [Answer
the objection].

7-19
Example of Handling Objections: Part 4

Use a Trial Close


“What are your thoughts on how this type of promotional plan
could drive faster turnover of our product?” [Use a trial close to
ensure you have reduced the customer’s concern].

7-20
Utilizing The Overall Process for Handling
Objections & Integrating Other Techniques
Try to use the following
process:
• Empathizing, listening, asking
questions, answering the concern,
and using a trial close

Yet, different situations require


different techniques
In some situations, salespeople
integrate multiple techniques
Adapt technique to situation
and customer
7-21
©Amble Design/Shutterstock
Techniques for Meeting and Objection

Let a third-party answer.


Ask questions to smoke out objections.
Rephrase an objection as a question.
Compensate for the objection.
Boomerang the objection.
Postpone the objection.
Dodge the objection.
Pass up the objection.
Indirectly deny the objection.
Directly deny the objection.
7-22
Objection Technique: Third Party

Giving a third-party answer:


• Providing buyers the necessary information to make a decision can
frequently overcome objections
• Case studies, market data, white papers, research from industry thought-
leaders, and customer’s sales data.

Examples:
• “I’m glad you asked. Here is what our research has shown,”
• “You know, my best customer brought that point up before making the
purchase . . . but was completely satisfied.”

7-23
Objection Technique: Questions (Smoke-Out)

Questions to Smoke Out Objections:


• Intelligent questioning show prospect that salesperson knows the
business
• Demonstrate salesperson concerned with the prospect’s needs
• Buyers impressed with sales professional who knows what to ask and
when to ask it

Examples:
• Prospect: I don’t like your price.
• Salesperson: Will you base your decision on price or on the product
offered you . . . at a fair price?

7-24
Objection Technique: Questions (5 Questions) 1

Jump to Long Image Description


7-25
Objection Technique: Questions (5 Questions) 2
First, use this question: “There must be some good reason why you’re
hesitating to go ahead now; do you mind if I ask what it is?”

When the buyer states a reason or an objection, use question number


two: “In addition to that, is there any other reason for not going
ahead?”

Now, use question number three, a “just suppose” question: “Just


suppose you could. . . . Then you’d want to go ahead?”

If you receive a negative response, use question number four: “Then


there must be some other reason. May I ask what it is?”

If you receive another negative response, use question number five by


saying, “What would it take to convince you?”

7-26
Objection Technique: Rephrasing 1

Counter objection with rephrasing question


Three steps in process:
• Acknowledging the prospect’s viewpoint
• Rephrasing the objection into a question
• Obtaining agreement on the question

7-27
Objection Technique: Rephrasing 2

Example:
Buyer: I don’t know—your price is higher than your
competitors’.
Salesperson: I can appreciate that. You want to know
what particular benefits my product has that make it
worth its slightly higher price. [Or, What you’re saying is
that you want to get the best product for your money.]
Is that correct?
Buyer: Yes, that’s right.

7-28
Objection Technique: Rephrasing 3

Three steps in process:


• Acknowledging the prospect’s viewpoint
• Rephrasing the objection into a question
• Obtaining agreement on the question

7-29
Objection Technique: Rephrasing 4
Facts are Incorrect Facts are Incomplete Facts are Correct Based on Bad Personal
Experience
Acknowledge prospect’s Acknowledge Acknowledge Thank prospect for
viewpoint. prospect’s viewpoint. prospect’s viewpoint. telling you.
Rephrase objection. Rephrase objection. Rephrase objection. Acknowledge
prospect’s viewpoint.
Obtain agreement. Obtain agreement. Obtain agreement. Rephrase objection.

Answer question Answer question by Answer question; Obtain agreement.


providing information providing complete outweigh it with
supported by proof—a facts. benefits.
third party.
Ask for prospect’s Ask for prospect’s Ask for prospect’s Answer question.
present viewpoint. present viewpoint. present viewpoint.
Return to selling Return to selling Return to selling Return to selling
sequence sequence sequence sequence

7-30
Objection Technique: Compensating 1

Prospect’s objection may be valid


• Present other benefits that counterbalance
objection
• Consider entire value proposition or other elements
that overcome disadvantage
• Higher product price justified by better service or higher
performance

7-31
Objection Technique: Compensating 2

Example:
Prospect: I can make 5 percent more profit with the Stainless
line of cookware, and it is quality merchandise.
Salesperson: Yes, you are right. The Stainless cookware is quality
merchandise. However, you can have an exclusive distributorship
on the Supreme cookware line, and still have high-quality
merchandise. You don’t have to worry about Supreme being
discounted by nearby competitors as you do with Stainless. This
will be the only store in town carrying Supreme. What do you
think? [Trial close.]

7-32
Objection Technique: Boomerang

Goal: Turn objection into reason to buy


• Convince objection into a benefit

Example:
Situation: Wholesale drug salesperson working for a pharmaceutical
firm, who is selling a pharmacist a new container for prescription
medicines. Handling the container, the prospect says:
Prospect: They look nice, but I don’t like them as well as my others.
The tops seem hard to remove.
Salesperson: Yes, they are hard to remove. We designed them so that
children couldn’t get into the medicine. Isn’t that a great safety
measure? [Trial close.]
7-33
Objection Technique: Postpone 1

When prospect takes control of presentation


• Skips ahead and asks questions salesperson will
address later in presentation
Normally, respond to the objection immediately
• Occasionally not appropriate to address objection.
Use this technique if:
• Prospect would be willing to wait later to address it
• You can maintain the relationship

7-34
Objection Technique: Postpone 2

Example:
Prospect: Your price is too high.
Salesperson: There are several ways we can handle
your costs. If it’s all right, let’s discuss them in just a
minute. [Pause. This has the same effect as the trial
close. If there is no response, continue.] First, I want to
show you. . . .

7-35
Objection Technique: Dodge

Salesperson neither denies, answers, nor ignores the objection


• Temporarily dodges objection

Example:
• Buyer: “I think your price is a little high.”

• Salesperson: “Before you decide let me tell you about the value that goes
with this product.”

7-36
Objection Technique: Pass Up

Situation occurs infrequently:


• Prospect raises objection or make a statement that requires not
addressing it.

Example:
• After salesperson makes introduction

• Buyer: “I’m really not interested in a service such as yours.”

• Salesperson: “Can you explain to me your concerns?”

7-37
Objection Technique: Indirect Denial

Appears as an agreement with the customer’s objection


• Begins with agreement or an acknowledgment of the prospect’s position
• Yes, but; I agree; Sure; Your point is well taken; and, I appreciate how you feel
• Transitions into denial of fundamental issue in the objection
• Explained in a soft, courteous polite manner

Example:
• Salesperson: “I appreciate how you feel. Many of our customers made
similar comments prior to buying from me. However, they all asked
themselves: “Can I afford not to have the best? Won’t it cost me more in
the long run?”

7-38
Objection Technique: Direct Denial 1

Intermittent situation: Customer objection is


incomplete or incorrect
Acknowledge prospect’s viewpoint
• Answer question by providing the complete or
correct facts
Tact is critical; do not alienate customer

7-39
Objection Technique: Direct Denial 2

Example:
Prospect: “I’m not going to buy any of your lawn
mowers for my store. The Bigs-Weaver salesperson said
they break down after a few months. “
Salesperson: “You know, you’re right to be concerned
about this. Let me explain “You know, my best
customer had those same feelings until I explained that.
. . .”

7-40
The Objection Process

After Meeting the Objection


Next Steps
After you have overcome the objection
• Use a trial close

• Return to your presentation or close the sale

Jump to Long Image Description


7-41
A Challenge!

Use the trial close in normal conversation to:


• Improve your communication
• Stimulate others to participate in the conversation

Simply ask an occasional opinion-type question:


• “Is that a good place to eat?”
• “What did you think about the movie?”
• “How does that sound to you?”

7-42
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

7-43
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

7-44
Why Do You Use a Trial Close After Answering
an Objection?
To see if you have answered the objection!

7-45
What is an Example of a Trial Close Used to
Respond to an Objection? 1
“Does that answer your question?”
“With that question out of the way, we can go
ahead – don’t you think?”

7-46
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

7-47
What is an Example of a Trial Close Used to
Respond to an Objection? 2
Option 1:
• Return to presentation concentrating on new or
previously discussed FABs of your project.

7-48
What is an Example of a Trial Close Used to
Respond to an Objection? 3
Option 2:
• Admit it
• Compensate for it by showing how your product’s
benefit(s) outweigh the disadvantage(s)

7-49
What is an Example of a Trial Close Used to
Respond to an Objection? 4
Option 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
7-50
In All Things Be Guided By The Core Principles

The reason to use the many communication techniques


in this chapter is to serve others from your heart, not
from your pocketbook

7-51
Can You Answer?

1. What is a sales objection?


2. Why should sales people welcome objections? 
3. What are the key points to consider in meeting sales
objections and why? 
4. What are the six major categories of sales objections? 
5. What are the key techniques for meeting sales objections? 
6. What are the logical steps a salesperson should take
immediately after meeting the objection?

7-52

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