Handling Objections – PART TWO

Handling Objections part one>>>

How to turn objections into a sale.

In a previous blog we discussed the core reasons an objection comes up (read it here >>> as it sets the foundation/setting of this blog)

Here we’d like to move forward, and look at how you can turn objections into a sale.

Firstly it’s a good idea to look at what can blindside you, because to handle objections, you need to be aware of them first.

 

A few things that can blindside you

 Sometimes you may miss signals because you’re not being ‘present’. How?

  • Being over excited about your solution.
  • Speaking too quickly about your solution. The client is still digesting what you said 10 minutes ago and is now overwhelmed. They are nodding as they are slightly embarrassed, but they are lost.
  • Assuming the person meeting you is invested (they may have been told to meet you, but they’re already planning to buy from Fairy Socks R Us).
  • Being self-focused (you have not read they are lost, confused and not sold on what you’re selling).
  • Assuming because they are meeting you they are interested and >80% sold (they may have made their decision and you are a ‘price’ comparison, so they tick that box for accounts requesting they shop around, but they have zero interest in buying from you).

 

Position yourself as the authority

Looking at how you position yourself is also important when setting yourself up for success.

Have you positioned yourself as the authority? Do they trust you?

There is a key point in the engagement where it shifts from being equal (you have something they need and it’s a balance) to you being in an advisory, or leadership role.

This happens when:

  1. You do your due diligence, research, you know the industry, you know the questions they need answering, you know what to ask them, you know the differences between all the solutions they could buy – you are confident and have certainty in your position. By taking this initiative, you step into and can own being an authority in your field.
  2. You approach the meeting as an equal, someone who can add value, who knows how they can help.

Behaving as an equal means you are not overly subservient when thanking the client for their time.  If their time with you will be of value to them, then it’s an equal gain.

  1. You now ask all the right questions – Because you are deeply involved in this client’s business, those questions are more intelligent and meaningful. A trigger happens for them – they realise you are the authority – this is when the scales tip and you are now positioned as the subject matter expert.

 

Now you have positioned yourself as the subject matter expert, they will listen to your sage advice.

 

The most common objections are

 When it comes to objections, the most common responses are:

  • My partner doesn’t want it
  • No money
  • No time
  • No interest
  • No need

 

My partner doesn’t want it

I like it but my partner doesn’t.

Decoy, that’s rubbish. They like you (maybe), but they can’t tell you the truth, which is ‘I’m not at all sold. They don’t want you to go into a sales pitch, so they try to end the call by bringing out the orange card, ‘My partner’. They know 99.9% of sales people wobble, stammer over their words, say ‘if they change their mind you know where I am’ and go – which is exactly what they wanted.

If this card comes out then breathe, you have misread the signals, the person wasn’t sold. They didn’t see the value.

If you really think they did see value (and all salespeople think this, we can have egos and bury that self-reflection and accountability muscle) and the client did swear they do see the value, they would have been enthusiastic. They will say something like ‘oh my, this is fantastic – we so need this. My partner Matt will take some persuading. He thinks we should wait until the new xx is installed. I think it’s needed now due to ABC. How can I help him understand what it means for us’?

See the difference?’  Basically they will ask you for help to ‘sell it on’.

 

No need

Right, if it’s no need – why are you there?

If there is a need, you need to research and review your elevator pitch. You need to make sure that when you are engaging with that person, they are the very person you are helping.

So, rather than ‘our sock range is comprehensive and the best quality in the market’, you would tweak it to make it relevant to that reseller – ‘other chemists like yours are enjoying a 200% mark up on these popular socks. They sell out within 7 days.’

 

No interest

You have reached out and John has said ‘I’m not interested’. A few things may have happened here.

  1. He might be interested but frankly has bigger fires to put out

This could be timing. So, it is good to keep abreast of when it might be of interest.  Is there a time when having your solution is more appetising?

2. He already has a solution and why look for another one? (If it ‘ant broken don’t fix it’. Things are always evolving, and things can easily change gear – i.e. as you have your finger on the pulse, you hear they are in a disagreement with the current supplier, your competitor can’t get stock, they are expanding, the current contract is up for grabs in 12 months etc

For both: Keep abreast of the prospect on LinkedIn so you are connecting and continue to add value (maybe send links every now and again on something you feel they would find of interest, something of value).

 

No time

Ok, this is usually not the case. We all have time, but we use it with something we deem more important. So, you need to closely review how you are pitching your solution, why would they want it, what does it do for them? Why would they find the time? Really go back to basics. Can you email something short and of value (a link to something) and then amend your signature to be a review from a client, similar to them, that is saying ‘I am making $$$ or saving xxx time by having this, professional and easy to work with’ etc.  Signatures are your real estate.

Be polite and keep chipping away at a reasonable pace as you will get ‘in’ in the end

 

No Money

This is rubbish and will always be rubbish. They have the money and don’t see the value. That is not their fault. That is your fault.

No money is like no time – we find money for things we value. If your solution is up at the premium end of pricing, I would suggest you put that in print somewhere.

What you need to do is ensure you are sold on what you have first, be armed up to the eyeballs in positive client outcomes and how it saved them time, money, whatever and have prepared succinct short pitches so you can land this compelling message with clarity.

Also, lets ensure it’s not hidden false economy.

I was with an industrial company this month and one of the chappies said, ‘we are more expensive than the competitor’ and when I asked how, he said ‘competitor A’s XYZ is $80k and our XYZ is $150k’. Next question of course needs to be – what the differences are, and he are tells me Competitor A’s usually breaks within a year, and they are often called in to replace it. His XYZ lasts 3 years +.

Now, read that again and ask yourself, which is more expensive?

This is called a typical false economy. I will say it took him another 2 hours of training before he himself really got it, which tells me what – that we can be over empathetic of the client and not see the wood for the trees, be blinded by a comment without weighing it up.

You see, salespeople can get derailed very quickly.

If you are a sales leader, you need to make sure your team are calm and in control throughout their day – any reactionary, desperate, underperforming, heat is on feeling will result in failure at every step

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What to do

Help your team by coaching them on all the objections that come up, start a easily accessible document so that the team can be armed and confident

Learn more: go to handling objections part one>>>

Participate: Join us on our Handling Objections Masterclass, Tues Dec 7 (30am) >>>>>>

Contact us to understand this and other programs (coaching currently conducted virtually), this programs include how to handle objections. >>>

Piece written by Charmaine Keegan,  author of over 20 eBooks, is a sought-after guest speaker, panellist, and keynote. She is a Certified Trainer Extended Disc System, of Situational Leadership, of NLP (how we operate), Hypnotherapy (unconscious communication) and Timeline Therapy (recognising your beliefs about sales and money – and recognising that of your customer). She has studied the psychology of human behaviour and is considered an absolute authority and true expert on sales techniques. She has ‘walked the walk‘ so her content, programs and key notes are highly practical and focused on results.

Smarter Selling is sales and mindset coaching for high performing leaders and teams

 

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