Chapter 11 Welcome Your Prospect’s Objections McGraw-Hill/Irwin ABC’s of Selling, 10/e Copyright © 2009 by The McGraw-Hill Companies, Inc All rights reser Main Topics          The Tree of Business Life: Objections Welcome Objections! What Are Objections? When Do Prospects Object? Objections and the Sales Process Basic Points to Consider in Meeting Objections Six Major Categories of Objections Techniques for Meeting Objections Technology Can Effectively Help Respond to Objections! 11-2 Main Topics, cont   After Meeting the Objection—What to Do? In All Things Be Guided by the Golden Rule 11-3 The Tree of Business Life: Objections vic Et h ic al r Se T T T T T TT T T T T Builds Guided by The Golden Rule:   True e  Relationships T I C  Welcome objections Remember that objections may allow you to answer the prospect’s concern(s) 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 Handling objections truthfully shows you provide ethical service in order to build true relationships 11-4 Welcome Objections!    Accept objections as a challenge People not want to be taken advantage of Learn to overcome objections – not fear 11-5 What are Objections?  Opposition or resistance to information or the salesperson’s request is an objection 11-6 When Do Prospects Object?   Prospect may object any time during sales call Always be ready to handle a prospect’s objections 11-7 Objections and the Sales Process   Objections can occur at any time When objections occur, quickly determine what to 11-8 Exhibit 11-1: When Objections Occur, Quickly Determine What To Do 11-9 Basic Points to Consider in Meeting Objections      Plan for objections Anticipate and forestall Handle objections as they arise – postponement may cause a negative mental picture or reaction Be positive Listen – hear them out 11-10 Exhibit 11-10: Five-Question Sequence Method of Overcoming Objections 11-35 Techniques for Meeting Objections  This series of questions keeps the conversation and gets the real objections out in the open – which helps increase sales 11-36 Techniques for Meeting Objections Use direct denial tactfully     Incomplete or incorrect objections should be acknowledged from the prospect’s viewpoint and then answered with complete and correct facts Tact is critical Do not say, “You’re wrong.” Closes prospect’s mind Try, “You know, you’re right to be concerned about this Let me explain.” 11-37 Techniques for Meeting Objections Indirect denial works  It initially appears as agreement with customer’s objection, but moves into denial of the fundamental issue  Done in in natural, conventional way, salesperson will not offend prospect 11-38 Techniques for Meeting Objections Compensation or counterbalance method    Sometimes a prospect’s objection is valid and must be overcome Calls for compensation method Present advantages to counterbalance the objection 11-39 Techniques for Meeting Objections 10 Let a third party answer  Answer it by referring to a third party and using his experience as “proof or testimony”  If source is reliable or reputable, can easily be successful even with expert or skeptical prospect 11-40 Technology Can Effectively Help Respond to Objections!  Data stored in handheld computers or laptops, or obtained using a telephone modem or satellite transmission, can provide information to overcome buyer’s objections 11-41 After Meeting the Objection–What to Do?  First, use a trial close – ask for opinion 11-42 Why Do You Use a Trial Close After Answering an Objection?  To see if you have answered the objection! 11-43 What is an Example of a Trial Close Used to Respond to an Objection?    “Does that answer your question?” “That’s the answer that you’re looking for, isn’t it?” “That clarifies this point entirely, don’t you agree?” 11-44 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 11-45 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 11-46 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) 11-47 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 11-48 Exhibit 11-12: The Procedure to Follow When a Prospect Raises an Objection Move Move into into your your presentation presentation Prospect Prospect raises raises an an objection objection Response Response to to the the objection objection Use Use aa trial trial close close Close Close the the sale sale 11-49 ... Life: Objections Welcome Objections! What Are Objections? When Do Prospects Object? Objections and the Sales Process Basic Points to Consider in Meeting Objections Six Major Categories of Objections. .. handle a prospect’s objections 11-7 Objections and the Sales Process   Objections can occur at any time When objections occur, quickly determine what to 11-8 Exhibit 11-1: When Objections Occur,... product could be useful Handling objections truthfully shows you provide ethical service in order to build true relationships 11-4 Welcome Objections!    Accept objections as a challenge People