Chapter 11
Handling Objections: The Power of Learning from
Opportunities
11-1
Video Ride-Along
•
The video Handling Objections features Paul Blake, Vice President of
Sales, Greater Media Philadelphia
•
Paul Blake gives his tips about handling objections
•
He shares his advice about how to make handling objections the most
productive part of the selling process
•
To view the video, click here
•
http://www.youtube.com/watch?v=zo4BFaXhFz0
11-2
Chapter Objectives
•
Understand what a sales objection is.
•
Learn how overcoming objections can strengthen a relationship.
•
Understand when and why prospects raise objections.
•
Learn strategies to handle objections.
11-3
Chapter Objectives
•
Understand the different types of objections and how to handle them.
•
Learn about common objections you may hear in a job interview and the
best way to respond.
•
Understand how follow-up to a job interview can help “overcome
objections.”
11-4
What are Objections?
•
Sales objections: Prospect questions or hesitancies about either the
product or company
– Signals your prospect’s level of interest
– Alerts you to what actions need to be taken to bring the sale to a close
– Helps you build your relationship
– Helps in finding the true reason for resistance
11-5
Objections as Opportunities
•
Objections should be considered as an extension of the selling process
•
To understand better what your prospect wants and needs - don’t avoid
objections; encourage them
11-6
Consider Objections Before they Occur
•
Strategies for preparing for the objections that will build your relationship
with the customer:
– Understand your prospect and believe in your partnership
– Do not lose sight of your prospect’s buying motivations
– Understand your prospects risk factors
– Think about every possible objection the prospect might express
– Be proactive and prepared to raise objections first
11-7
Why Prospects Object
•
No or not enough money
•
No perceived need
•
No sense of urgency
•
No trust
11-8
When Prospects Object
•
When you are first trying to make contact
•
When you are making a sales presentation
•
When you are attempting to close the sale, or make a trial close
11-9
How to Handle Objections
•
Consider the objection as a question
•
Respond to the objection with a question
•
Restate the objection before answering the objection
•
Take a pause before responding
•
Use testimonials and past experiences
•
Never argue with the prospect
11-10
Types of Objections
•
Product objection: A concern voiced by the prospect relating directly to
the product
•
Source objection: A barrier presented by the prospect relating to your
company or to you
•
Price objection: A concern voiced by the prospect about the perceived
value of a product or service
•
Money objection: A concern voiced by the prospect that relates to the
budget or financial ability to make the purchase
11-11
Types of Objections
•
“I’m already satisfied” objection: A barrier presented by the prospect
that indicates that there is no need for the product or service
•
Hidden objection: An objection that is not openly stated by the prospect
but is an obstacle in the way of making the sale
•
“I have to think about it” objection: An objection that is actually a stall
11-12
Handling the Price Objection
•
The video Price Too High features best-selling author and sales expert
Jeffrey Gitomer
•
Jeffrey Gitomer discusses how to handle the price objection
•
To view the video, click view
•
http://www.youtube.com/watch?v=xrG_SFgcCHc
11-13
Is Being Satisfied Good Enough?
•
The video Engage the Prospect features best-selling author and sales
expert Jeffrey Gitomer
•
Jeffrey Gitomer explains how you can engage your prospect by taking
away the objection before they have a choice to raise it
•
To view the video, click here
•
http://www.youtube.com/watch?v=OCecpcnhqLQ&feature=related
11-14
Ultimate Stall
•
The video I'd like to think about it - and other sales stalls features BestSelling Author and Sales Expert Jeffrey Gitomer
•
Jeffrey Gitomer refers to the “I'd like to think about it” statement as a
stall and not as an objection
•
To view the video, click here
•
http://www.youtube.com/watch?v=cCyf8af78A8&feature=related
11-15