How to Handle Objections like a Sales Champion

 

Most salespeople think of objections as a bad thing... but they're missing the big picture. If your prospect raises an objection, that's actually a good sign. The fact that they're talking out their concern means that they're giving you a chance to answer it. If someone is completely uninterested in buying your product, they won't bother to object – generally they'll just sit through your presentation in silence (with arms folded) and then send you away. Here's a simple process to help resolve your prospect's objections.

Here's How:

1.       Listen to the Objection. 

Don't jump all over the prospect as soon as he says “But what about-.” Give him a chance to explain exactly what's bothering him. Don't just tune him out, either – listen. You can pick up some really valuable clues from the way a prospect phrases his objection.

2.       Say it Back to the Prospect.

 When you're absolutely sure the prospect is done talking, look thoughtful for a moment and then repeat back the gist of what he's said. Something like “I see, you're concerned about maintenance costs” is fine. This both shows that you were listening and gives him a chance to clarify. “Well, it's not so much the cost I'm worried about as the downtime.”

3.       Explore the Reasoning.

 Sometimes the first objections aren't the prospect's real concern. For example, many prospect don't want to admit that they don't have enough money to buy your product, so they'll raise a host of other objections instead. Before you launch into answering an objection, ask a few exploratory questions, like “Is product downtime a particular issue? Have you had trouble with it before?” Draw the prospect out a bit.

4.       Answer the Objection. 

Once you understand the objection completely, you can answer it. When a customer raises an objection, they're actually expressing fear. Your task at this point is to relieve their fears. If you have specific examples, such as a story from an existing customer or a few statistics, by all means present them – hard facts make your response stronger.

5.       Check Back with the Prospect. Take a moment to confirm that you've answered the prospect's objection fully. Usually this is as simple as saying, “Does that make sense?” or “Have I answered your concern?”

6.       Redirect the Conversation.

 Bring the prospect back into the flow of the appointment. If you're in the middle of your presentation when the prospect raises his objection, then once you've answered it quickly summarize what you'd been talking about before you move on. If you've finished your pitch, check if the prospect has any other objections, and then start closing the sale.

 

 

Mark of the Sales Champion: Anticipating Objections

 “Sounds wonderful. I'll take two million pieces  of whatever you're selling!”

Don't expect to hear these words during any sales presentation in the real world. In fact, what you will hear are objections like:

·         They're too expensive.

·         I never heard of your company.

·         I don't have time right now.

Ad infinitum. There are ideas on how to respond to objections during a sales call. However, before the presentation you should start to anticipate and respond to common sales objections. Sales Champions anticipate buyer objections and either answer them in advance or offer considered responses when they are presented. Understanding how a buyer thinks can help you build trust, a prime component of every transaction.

 People will buy something when they want it more than they want the money that it costs. All buyers are looking for value, the equal or greater worth in an exchange. Businesses buy because they trust that their purchase is of greater value to them than the price. They believe that they can turn a profit. The seller, too, sees the profit value of selling their products or services for money.

 

The key to answering sales objections is understanding what they truly are: questions. In most cases, objections are presented to ask you why the prospect should buy. It's often a delay tactic that prospects use because their questions and concerns haven't yet been answered. By anticipating common objections, you can answer them in your presentation even before they are asked.

Ø  Our products are less expensive than any other brand of similar quality.

Ø  XYZ ENTERPRISE  is a MARKET LEADER  with 25% of market share employing more than 1,000 people.

Ø  I can help you save more than  Rupees 25 lacs in the next hour by acting on my suggestions.

Planting responses to common objections within your sales presentation can diffuse the buyer's natural reluctance to make a decision.

An important aspect of preparing for your sales call is anticipating common objections of buyers and developing viable answers. If possible, make the case against the objection before it even develops in the buyer's mind. However, if the buyer does voice an objection, you should be ready with a well-thought-out answer. In fact, if a common objection isn't voiced by a buyer, smart sellers will bring it up.

·         As you consider your purchase, you may think that our products are too expensive. Let me respond to that …

·         I sometimes hear buyers ask to know more about our company. It's a good question. Our product  is …

Now make a list of the common objections your company's voice have them divided into three parts: The ones to anticipate and include in your sales presentation; the ones to be prepared with answers and the ones to ignore or refute tactfully or a tleast  refer to your  sales manager;  if they are true; asking for a genuine solution. 

With best wishes

Dr Wilfred Monteiro