Welcome Your Prospect`s Objections

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 reserved.
Main Topics
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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...
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After Meeting the Objection—What to Do?
In All Things Be Guided by the Golden Rule
11-3
The Tree of Business Life:
Objections
T
T T
T T TT
T T T T
Builds
Relationships
Guided by The Golden
Rule:
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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!
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Accept objections as a challenge.
People do not want to be taken
advantage of.
Learn to overcome objections – do
not fear.
11-5
What are Objections?
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Opposition or resistance to information or the
salesperson’s request is an objection
11-6
When Do Prospects Object?
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Prospect may object any time during sales call
Always be ready to handle a prospect’s
objections
11-7
Objections and the Sales Process
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Objections can occur at any time
When objections occur, quickly determine what to
do
11-8
Exhibit 11-1: When Objections Occur,
Quickly Determine What To Do
11-9
Basic Points to Consider in Meeting
Objections
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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
Basic Points to Consider in Meeting
Objections, cont…
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Postponement of objections may result in:
Prospect may stop listening
 Prospect may feel that you have something to hide
 You also feel that it’s a problem
 You cannot answer because you don’t know the
answer
 May appear that you’re not interested in prospect’s
opinion

11-11
Basic Points to Consider in Meeting
Objections, cont…
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Understand objections
Request for information
 A condition (negotiation can overcome a condition)
 Major or minor objection
 Practical or psychological objection
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 A real objection is tangible
 The salesperson must uncover hidden objectives and
eliminate them
11-12
Exhibit 11-2: What Does a Prospect
Mean by an Objection?
Is the prospect’s
response a...
Request for more
information?
Condition?
Major?
Practical?
Psychological?
Hopeless
objection?
True objection?
Minor?
Practical?
Psychological?
11-13
Exhibit 11-3: Examples of Objections
11-14
Once Again! What Are Objections?
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Opposition or Resistance to:
Information
 The salesperson’s request

11-15
Six Major Categories of Objections
1. The hidden objection
2. The stalling objection (“I’ll think it over…”)
3. The no-need objection (“…but I’m not interested
now.”)
4. The money objection
5. The product objection
6. The source objection
11-16
Six Major Categories of Objections
1. The hidden objection – prospect who asks trivial,
unimportant questions or conceals his feelings
beneath a veil of silence
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Salesperson must ask questions and carefully listen
in order to smoke out prospect’s real objections
Smoke out hidden objections – ask questions,
observe, “read between the lines” – prospect may not
know what the objections are; as last resort,
salesperson may have to ask what objections are
11-17
Six Major Categories of Objections
Hidden objections, cont…
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Consider the following questions:
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What would it take to convince you?
What causes you to say that?
Tell me, what’s really on your mind?
11-18
Six Major Categories of Objections
2. The stalling objection – prospect says, “I’ll think it
over,” or “I’ll be ready to buy on your next visit,”
must determine if truth or smokescreen designed
to get rid of you – common tactic
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One of toughest to overcome arises when selling a
new consumer product
Buyer says she has to get approval from someone
else. Buyer’s attitude toward product will influence
buying decision – make it positive
11-19
Six Major Categories of Objections
2. The stalling objection, cont…
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Let buyer know you are on her side and help her with
her objections. If she does not respond give her
multiple choice question to display genuine attitude of
caring
Do not get demanding, defensive, or hostile
Goal is to help prospect realistically examine reasons
for and against buying now
Main idea is not to be satisfied with false objection or
stall. Bring out any or all main selling benefits and
KOS
11-20
Six Major Categories of Objections
3. The no-need objection – prospect says, “…but
I’m not interested now,” and he stays as he
presently is
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This is widely used because it gets rid of the
salesperson
It is tricky because it also includes a hidden objection
or a stall
11-21
Six Major Categories of Objections
4. The money objection – encompasses several
forms of economic excuses and is simple for the
buyer to say
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Respond by saying that it is risky to discuss price until
it can be compared to product’s benefits. Once you
convey product’s benefits, price becomes secondary
factor which usually can be dealt with successfully
Quote price and go right on selling
11-22
Six Major Categories of Objections
5. The product objection
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Not everyone likes the best selling product
Your reaction must be positive
You can use guarantee, testimonial, independent
research results, or a demonstration
11-24
Six Major Categories of Objections
6. The source objection
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Some prospects say they are happy with their current
supplier
Try to find out exactly what bothers prospect and call
on her routinely over a long period of time
11-25
Six Major Categories of Objections
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Salespeople often encounter the same objections
from customer to customer.
After a sales call, ask yourself:
What were the objections?
 How did I handle them?
 How should I handle them next time?
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Be prepared for the same objection to arise again!
11-26
Salespeople Need To Be Good
Communicators, but How?
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Handling objections can be challenging
Done incorrectly, you may appear rude
 Done correctly, you appear professional
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11-27
Techniques for Meeting Objections
11-28
Exhibit 11-7: Techniques for Meeting
Objections
11-29
Techniques for Meeting Objections
1. The dodge neither denies, answers, nor ignores.
2. Don’t be afraid to pass up an objection.
3. Rephrase an objection as a question. Easier to
answer question than objection Exhibit 11-8).
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Acknowledge prospect’s viewpoint
Rephrase objections
Obtain agreement
Feel-felt-found:
 “I understand how you feel…”
 “Bill at XYZ felt the same way…”
 “…but he found after reviewing our products…”
11-30
Exhibit 11-8: Examples of
Rephrasing Objections as a Question
11-31
Techniques for Meeting Objections
4. Postponing objections is sometimes necessary.
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If you judge the objection will be handled to
satisfaction by your customary method
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That prospect truly willing to wait until that time
later in presentation
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You may politely forestall
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Tactfully used forestall can leave you in charge
of presentation
11-32
Techniques for Meeting Objections
5. Send it back with the boomerang method.
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Be ready at any time to turn an objection into a
reason to buy
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Convince the prospect that her objection is in
fact a benefit
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Requires good timing and quick thinking
11-33
Techniques for Meeting Objections
6. Ask questions to smoke out objections:
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Five-question sequence (Exhibit 11-10)
11-34
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
7. Use direct denial tactfully
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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
8. Indirect denial works
 It initially appears as agreement with
customer’s objection, but moves into denial of
the fundamental issue
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Done in in natural, conventional way, salesperson will
not offend prospect
11-38
Techniques for Meeting Objections
9. Compensation or counterbalance method
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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
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Answer it by referring to a third party and using
his experience as “proof or testimony”
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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!
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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?
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First, use a trial close – ask for opinion.
11-42
Why Do You Use a Trial Close After
Answering an Objection?
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To see if you have answered the objection!
11-43
What is an Example of a Trial Close
Used to Respond to an Objection?
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“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?
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Make a smooth transition back into your
presentation
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“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)
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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)
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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)
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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
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 A competitor may make the sale because he/she asked
for it
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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 into your
presentation
Prospect raises
an objection
Response to
the objection
Use a trial close
Close the sale
11-49