SIXTEEN

Handle Objections Effectively

Objections are a normal, natural, and unavoidable part of the sales process. Nonetheless, many salespeople become discouraged and disheartened when the customer begins to object to their offering on the basis of high price, better offers from competitors, and other reasons.

The fact is that customers today are bombarded by hundreds and even thousands of commercial messages. As a result, they are skeptical, suspicious, and careful with their time and money.

No matter what you are selling, customers will have questions and concerns that you must resolve before you can proceed to a sale. Your ability to handle these objections and concerns is a key skill that is essential to your sales success.

The best news is that objections are good. They indicate interest in your product or service. Objections often indicate that you have touched an emotional nerve and that you have connected with the prospect in some way. It turns out that successful sales have twice as many objections as unsuccessful sales do.

The Law of Six

The Law of Six is one of the most powerful principles you can use for identifying and overcoming objections. This law says that the number of objections to your product or service, whatever it is, is limited to no more than six.

Determine your six major objections. Ask yourself this question: “We could sell to everyone we talked to if our prospects just didn’t say . . .”

Make a list of all the objections you get in a week or a month, and then divide them into six logical categories. They will differ from product to product and from market to market.

Once you have determined your six major objections, your job is to develop bulletproof answers to each of these common objections.

The Key Question

The key question in answering objections is, “Why don’t our prospects buy our product from us?” Your job is to identify the answer to that question and then counter with a logical reason that eliminates the objection in the customer’s mind.

Treat an objection as a request for more information. For example, the prospect says, “Your price is too high.”

You respond by saying, “That’s a good question. Why does our price seem to be higher than our competitors for this item? Let me see if I can answer that for you.”

Compliment the objection. Encourage further objections. Say, “That’s a good question! Let me see if I can answer it for you.”

Make It Easy to Object

Each prospect has key objections or concerns that you must get out on the table. If the customer has a single objection lurking in the back of his mind, he may not say anything, but he will not buy, either. For this reason, no matter what the customer says, and no matter how often you may have heard it, you should hear out the objection completely.

Whenever the customer objects or makes a negative comment about your product, you should counter with your excellent listening skills. Remember to listen attentively, without interrupting; pause before replying; question for clarification; and, finally, feed it back in your own words, to make sure that you understand what the customer is saying.

Responding to Objections

There are several responses that you can use to reply to any objection. Remember, the person who asks questions has control. Always try to answer an objection with a question rather than an answer.

You can say, “Obviously you have a good reason for saying that; do you mind if I ask what it is?” And then just remain silent. Very often, the prospect does not have a good reason, and this will be revealed in the silence after your question.

Another way to respond to an objection is to ask, “How do you mean?” Or, “How do you mean, exactly?” And then remain silent.

Always use objections as an opportunity to build trust by listening intently to the other person’s answer. The more intensely you listen to the prospect, the more the prospect likes you and trusts you and is open to purchasing your product or service.

Fighting Fuzzy Understanding

Most objections arise from fuzzy understanding. The problem your product will solve is not clear to the prospect. The need that your product will satisfy is not clear to the prospect. The benefits of your product or service to the prospect, relative to the price, are not clear. The unique selling proposition of your product or service is not clear.

And, finally, there is no urgency for the prospect to take action, or she sees no reason to act now rather than at some other time. These are all elements that contribute to the “fuzzy understanding” that leads to the customer saying, “Let me think it over.”

Dealing with Price Objections

There are several proven ways for you to deal with price objections, which come up in almost every sale. When the prospect says, “Your price is too high,” you respond by asking:

a. Why do you say that?

b. Why do you feel that way?

c. Is price your only concern?

d. How far apart are we?

If the prospect insists on knowing your price before you have identified his needs and have presented your benefits, delay the price conversation by saying, “I know price is important to you; may I come back to that in a minute?”

Remember, objections are the rungs on the ladder to sales success. The more objections you get, the more interested the prospect is in your product or service. When you hear an objection, you should be thankful and then begin turning the objection into reasons for buying.

ACTION EXERCISES

1. Identify the two or three most common objections that you receive from a qualified prospect for buying your product or service.

2. Identify the two or three best responses that you can give to your most common objections that enable you to go on and make the sale.