Chapter 11 Handling Objections The Power of Learning

Chapter 11 Handling Objections: The Power of Learning from Opportunities 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=zo 4 BFa. Xh. Fz 0 • • • 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. 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. ” 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 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 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 7

Why Prospects Object • • No No or not enough money perceived need sense of urgency trust 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 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 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

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 12

Handling the Price Objection • • The video Price Too High features best-selling author and sales expert Jeffrey Gitomer discusses how to handle the price objection To view the video, click view • http: //www. youtube. com/watch? v=xr. G_SFgc. CHc • 13

Is Being Satisfied Good Enough? • The video Engage the Prospect features best-selling author and sales expert 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=OCecpcnhq. LQ&feature=related • • 14

Ultimate Stall • The video I'd like to think about it - and other sales stalls features Best. Selling Author and Sales Expert 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=c. Cyf 8 af 78 A 8&feature=related • • 15