Editor's note: This article is excerpted from
Stop Cold Calling Forever!from Entrepreneur Press.
If you're passionate about what you do for a living-and I
hope you are-you're going to have to make a determined effort
to maintain your composure when a prospect starts launching
objections about your product, service, or solution. It's
natural, to some degree, to take these remarks personally, but
it's also essential to keep your sense of balance and
perspective when you're feeling you're on the grill.
Don't shoot from the hip. Don't improvise. Don't
pain. Follow these simple rules when a prospect tells you your
specs aren't right, your price is too high, your reputation
isn't good enough, or your quality is suspect.
Content Continues Below
Rule 1: Remember, everything your prospect says has face
value. Don't fight (internally or externally) with the
individual who passed along the objection. Don't rebut.
Don't get into point-by-point struggles. Take what follows to
heart when you answer any objection.
Rule 2: Compare the objection to your own history as a
salesperson. Is this objection something that, historically,
you have had not control over? Is it unique to this buyer? Odds
are, this objection has something in common with one you've
heard before. Ask yourself, "Have I ever sold to someone who
told me this?"
Rule 3: Analyze the objection. Is it reasonable? Would
you make this objection if you were in your prospect's
shoes?
Rule 4: Look at the big picture before you respond.
Remember, you don't have to sell every person you come in
contact with to be ahead of quota. You just have to sell the right
ones.
Rule 5: Never offer judgments concerning the validity of the
objection. Instead learn how to question the objection.
See What They Say
After years and years of hearing objections, I reached the
following conclusions.
First, I had to totally disregard the standard "objection
handlers" I found in sales books, such as "I understand
how you feel; others have felt that way. Blah, blah , blah."
None of it worked as well as I needed it to.
Second, there were really only two general ways to address what
is at the heart of every objection. The first way I did this was by
actually seeing what my prospects were saying, and the second way
was to put words in their mouths. That sounds weird or
manipulative, but it's neither. Read on.
What follows are five easy ways to see past the objection and
one really cool way to introduce an objection before your prospect
does.
Buy Anthony
Parinello's Stop Cold Calling Forever today. Buy it now.Objection Strategy 1: Up the Ante
When your question the objection tactfully and politely, you
call the prospect's bid and raise her or him one. This approach
is dramatic, and it's not what you'll read about in most
sales training books. But I know you'll find that it delivers
some extraordinary results if you do it-and stick with it.
Questions the objection allows you to get to the bottom of
things in a hurry, which is what My Way is all about. After all, if
there really is an insurmountable objection, don't you want to
find out about it as soon as possible and track down prospects who
are likelier to do business with you? Good, I thought so.
Questioning the objection involves using an "If not, then
what?" formula. Here's an example of how questioning the
objection works in practice:
Prospect: "Thanks for showing me the fall line, but
your wholesale price is just too high. After we apply our standard
markup, the retail price would be too high for the clientele who
shop in our discount chain. I'll pass.
You" "Hmm. Okay, if our price were lower, low
enough for you to make margin and price it right for your outlets,
would you place an order for your stores today?"
Prospect: (Surprised pause, then) "No, the problem
is that the style and material really aren't what I think they
ought to be."
Bingo! The price wasn't the insurmountable obstacle
you'd been led to believe. You're perfectly positioned to
show other merchandise to this buyer.
You can use this tactic with virtually any objection that could
come your way.
Objection Strategy 2: The Price Is Right
At my seminars I'll ask the audience, "Who here is
working on a deal where they're getting beat up on price?"
Consistently, 30 to 50 percent of the audience will raise their
hands. That's a ridiculously high number, wouldn't you
say?
You know what I think? I think it's a setup. Your prospects
know that you're desperate to make the sale. And they also know
that, all else being equal, the only meaningful negotiating point
will be price. Try this:
Prospect: "Your price is too high." (Or:
"You have a reputation of being the higher-priced
provider.")
Top Salesperson: "Please define price."
Wow! Now your prospect is on the spot to articulate what price
means to him and her-and you're in a position to listen and
learn.
Don't ask a stupid question, one that will give you
an answer that you don't do anything with. For example:
- "Just how much too high is our price?"
- "How much lower does my price need to be?"
- "What price are you willing to spend?"
Know exactly what your limitations are and how much room you
have to lower your price, and knock it down before anyone asks you
to do it. Or better yet, keep your prices high, and sell only to
prospects who appreciate the indisputable fact that you'll
always get what you pay for.
Objection Strategy 3: Take the Challenge
Lets' say for a moment that your prospect is extremely happy
with whomever the current source of supply is-si happy, in fact,
that he or she would never, ever consider switching. That is, until
you show up.
Prospect: "I saw your e-mail. Thanks for the call,
but I am all set. My current PR firm is taking care of all my
brand-awareness needs."
Top Salesperson: "Before you hang up, let me ask
you-would you like to know what your loyalty to your current PR
firm is costing you?"
I strongly suggest you use this verbatim. It's a very
powerful way to find out if there is any shred of interest. And
it's also a direct, but appropriate, challenge to the
prospect's position. This is powerful stuff.
Bottom line: If you hear anything other than a click and a dial
tone, you're in. Take a look:
Prospect: "What do you mean by that?"
Top Salesperson: "The other customers we have in
your industry tell me that they're now able to
_____________." (Fill in the blank with the value and benefits
of your product or service.)
This response also works well for any prospects who have an
internal source of supply that they're "totally"
satisfied with. For example, if your prospect says, "My PR
department is taking care of all of my needs," your response
would be the same.
Don't turn and run when you hear this objection. This
supposed deal-breaker sends many a salesperson away, feeling
rejected and questioning whether or not they should go back to
school and get another degree so they can get a "real"
job. Don't you be one of them.
I promise, you will earn the respect of your prospect if
you do use this approach to stand firm.
Be prepared. Have your response at the ready; rehearse it with
your sales manager or a peer that you respect. Get your ducks in a
row. Know the real differentiators between you and your closest
competition.
Page 1 |
2 