Go to GoReading for breaking news, videos, and the latest top stories in world news, business, politics, health and pop culture.

Handling Objections

103 12
Introduction The ability to recognise and overcome objections is often considered part of a salesperson's basic skill set, a necessary evil to be dealt with to cajole and close the prospect.
Few, though, view them as opportunities and an essential part of the closing process.
While it is important to be well-prepared and anticipate objections, a change of attitude, in terms of what objections represent and how to react to them, is key to successful closing.
Once objections are viewed as signals that the prospect is interested and needs clarification or reassurance, objections act as sign posts to the areas that need to be covered in more detail.
Obstacles become a lot easier to overcome once we can clearly see them! Many salespeople view objections as a sign of failure rather than useful tools to pinpoint the prospect's values, drivers and needs - a blunt, 'no' does not provide room for manoeuvre, but objections give us insight into what is important to the prospect.
Even the most negative of statements highlight the prospect's key values and can be reframed as a discussion point, indicating the areas to focus on or the direction the re-pitch should take e.
g.
'this is too expensive!' contains a positive intention i.
e.
to ensure it is affordable or fits within budget - so your focus should shift to highlighting the affordability or cost efficiency of your product or service.
The healthiest approach is to expect objections and to actively welcome or even pre-empt them as they signal the conversation is being taken seriously and the prospect is inviting reassurance or clarification so that the deal can be closed.
Top Tips for handling objections.
o 'Happy now' i.
e.
"we're already working with your competition".
Respond to this by complementing, or matching e.
g.
"other companies have told me the same thing and were working with the competition until they saw how we could complement what they were doing".
Another approach is to subtly create doubt in the prospect's mind by mentioning a (fictional) third party client who also was happy with their service etc.
and did not realise how much improvement/savings etc.
could be made until we quoted them.
Then use an assumptive close: gain agreement with a truism like 'no one has a monopoly on good ideas' adding that 'if we can provide even half the results that we have had with similar companies an appointment would be well worth your time, wouldn't it?' o 'Not interested' i.
e.
"we have no reason to buy that" and "we have no money".
To respond, turn it around with a benefit or identify the key values implicit in the objection - saving money/affordability and address how your product or service could help with these areas.
o 'Send literature' objections are common.
Use it to get to the next step, respond with yes then add a follow up question.
This technique is called the 'ledge' because it gives you a foothold.
An alternative 'ledge' would be to agree to send the literature then add that it is very general and does not go into as much detail as you now could - then ask which areas specifically would they like more information on? While this may seem a little aggressive, it will call the bluff of those trying to palm you off, saving you time and effort in the long term to concentrate on those genuinely interested.
o The 'direct question' objection includes "how much is it?" Give a direct answer and then use the 'ledge' technique.
Alternatively, you could reframe this question by casually stating 'if the product does not benefit your company, it hardly matters whether it costs £5 or £500,000, does it? First we need to establish how much and in what way this product or service would benefit you then examine cost'.
o Top 10 rules in handling objections: (1)Never contradict; no one likes to be wrong or appear stupid so the easiest way to avoid this is to disagree by agreeing - 'Yes, this is a very expensive system - if it wouldn't boast your bottom line by saving on repairs and providing greater efficiency'.
(2) Don't be oversensitive or arrogant; a blunt yet polite approach is called for - you are not trying to woo the prospect but do business.
Often, successful businesspeople will expect you to be persistent and forthright while overly cautious or hesitant behaviour loses their respect.
(3) Be respectful; it is important to think long-term.
Each contact could later blossom into an important client and it is also wise to remember that, particularly when dealing with one sector in a certain industry, there is a fair chance that the top executives know each other.
(4) Don't argue; your purpose is not to score points or to win - you sole aim to develop contacts and/or close business.
Rapport is the most important tool in doing this and arguments are a sure-fire way to damage it.
(5) Listen - avoid interruption; closing involves building and maintaining rapport and responding to a prospect's values and needs - both impossible without listening closely and paying attention.
(6) Think before responding; eagerly blurting out ill-thought through responses is both unprofessional and off-putting as it could be perceived as anxiety, neediness or desperation to close or convince the prospect - such behaviour is almost sure set alarm bells ringing in potential clients.
(7) Qualify where necessary; qualification is not simply a case of ticking boxes: questions direct both your and the prospect's attention to identify the areas that matter most and underline decisive selling/buying points.
(8) Keep everything in perspective; one call is just that: one call - whether a sale or not something can always be gained: insight, contacts, experience - and is not representative of the course of your whole day, week or year.
Focusing on the call you are making, and not the previous or next call, is an essential skill to learn and develop.
(9) Stay calm; buying decisions are not solely based on price, suitability or efficiency -but, more often than not, on instinct, intuition or a feeling of trust - all of which can be built and maintained through rapport.
Attempts to oversell or exaggerate benefits could be seen as a sign of weakness or lack of confidence in your product or service.
(10) Be prepared and anticipate.
It is worth brainstorming possible objections either by yourself or with colleagues.
Keep a record of objections which can be added to during the course of the day and later discussed with management or colleagues to come up with good responses.
Source...

Leave A Reply

Your email address will not be published.