Marketing chapter 11a welcome your prospects objections

Chapter

11

Welcome Your Prospect’s
Objections

McGraw-Hill/Irwin
ABC’s of Selling, 10/e

Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reser


Main Topics
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The Tree of Business Life: Objections
Welcome Objections!
What Are Objections?
When Do Prospects Object?
Objections and the Sales Process
Basic Points to Consider in Meeting Objections
Six Major Categories of Objections

Techniques for Meeting Objections
Technology Can Effectively Help Respond to
Objections!
11-2


Main Topics, cont...
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After Meeting the Objection—What to Do?
In All Things Be Guided by the Golden Rule

11-3


The Tree of Business Life:
Objections
vic

Et
h ic
al

r
Se

T
T T
T T TT

T T T T
Builds

Guided by The Golden
Rule:
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True

e



Relationships

T

I

C



Welcome objections
Remember that objections may
allow you to answer the prospect’s
concern(s)
Realize your product or solution

may not be for everyone
 If it is not for a particular
customer, thank him and
politely leave
 If it would benefit the customer,
politely, professionally, and
ethically, show how the product
could be useful
Handling objections truthfully
shows you provide ethical service
in order to build true relationships

11-4


Welcome Objections!
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

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Accept objections as a challenge.
People do not want to be taken
advantage of.
Learn to overcome objections – do
not fear.

11-5

What are Objections?


Opposition or resistance to information or the
salesperson’s request is an objection

11-6


When Do Prospects Object?
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

Prospect may object any time during sales call
Always be ready to handle a prospect’s
objections

11-7


Objections and the Sales Process



Objections can occur at any time
When objections occur, quickly determine what to
do

11-8

Exhibit 11-1: When Objections Occur,
Quickly Determine What To Do

11-9


Basic Points to Consider in Meeting
Objections
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Plan for objections
Anticipate and forestall
Handle objections as they arise – postponement
may cause a negative mental picture or reaction
Be positive
Listen – hear them out

11-10


Basic Points to Consider in Meeting
Objections, cont…


Postponement of objections may result in:
Prospect may stop listening
 Prospect may feel that you have something to hide
 You also feel that it’s a problem
 You cannot answer because you don’t know the answer
 May appear that you’re not interested in prospect’s
opinion


11-11


Basic Points to Consider in Meeting
Objections, cont…


Understand objections
Request for information
 A condition (negotiation can overcome a condition)
 Major or minor objection
 Practical or psychological objection


 A real objection is tangible
 The salesperson must uncover hidden objectives and

eliminate them

11-12

Exhibit 11-2: What Does a Prospect
Mean by an Objection?
Is
Is the
the prospect’s
prospect’s
response
response a...
a...

Request
Request for
for more
more
information?
information?

Condition?
Condition?

Major?
Major?

Practical?
Practical?

Psychological?
Psychological?

Hopeless
Hopeless
objection?
objection?

True
True objection?
objection?

Minor?
Minor?

Practical?
Practical?

Psychological?
Psychological?
11-13


Exhibit 11-3: Examples of Objections

11-14


Once Again! What Are Objections?


Opposition or Resistance to:
Information

 The salesperson’s request


11-15


Six Major Categories of Objections
1. The hidden objection
2. The stalling objection (“I’ll think it over…”)
3. The no-need objection (“…but I’m not interested
now.”)
4. The money objection
5. The product objection
6. The source objection

11-16


Six Major Categories of Objections
1. The hidden objection – prospect who asks trivial,
unimportant questions or conceals his feelings
beneath a veil of silence




Salesperson must ask questions and carefully listen
in order to smoke out prospect’s real objections
Smoke out hidden objections – ask questions,
observe, “read between the lines” – prospect may not

know what the objections are; as last resort,
salesperson may have to ask what objections are

11-17


Six Major Categories of Objections
Hidden objections, cont…

Consider the following questions:


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What would it take to convince you?
What causes you to say that?
Tell me, what’s really on your mind?

11-18


Six Major Categories of Objections
2. The stalling objection – prospect says, “I’ll think it
over,” or “I’ll be ready to buy on your next visit,”
must determine if truth or smokescreen designed
to get rid of you – common tactic




One of toughest to overcome arises when selling a
new consumer product
Buyer says she has to get approval from someone
else. Buyer’s attitude toward product will influence
buying decision – make it positive

11-19


Six Major Categories of Objections
2. The stalling objection, cont…
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
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Let buyer know you are on her side and help her with
her objections. If she does not respond give her
multiple choice question to display genuine attitude of
caring
Do not get demanding, defensive, or hostile
Goal is to help prospect realistically examine reasons
for and against buying now
Main idea is not to be satisfied with false objection or
stall. Bring out any or all main selling benefits and
KOS

11-20

Six Major Categories of Objections
3. The no-need objection – prospect says, “…but
I’m not interested now,” and he stays as he
presently is




This is widely used because it gets rid of the
salesperson
It is tricky because it also includes a hidden objection
or a stall

11-21


Six Major Categories of Objections
4. The money objection – encompasses several
forms of economic excuses and is simple for the
buyer to say


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Respond by saying that it is risky to discuss price until
it can be compared to product’s benefits. Once you
convey product’s benefits, price becomes secondary
factor which usually can be dealt with successfully

Quote price and go right on selling

11-22


Six Major Categories of Objections
5. The product objection

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Not everyone likes the best selling product
Your reaction must be positive
You can use guarantee, testimonial, independent
research results, or a demonstration

11-24


Six Major Categories of Objections
6. The source objection




Some prospects say they are happy with their current
supplier
Try to find out exactly what bothers prospect and call
on her routinely over a long period of time

11-25


Six Major Categories of Objections
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Salespeople often encounter the same objections
from customer to customer.
After a sales call, ask yourself:
What were the objections?
 How did I handle them?
 How should I handle them next time?




Be prepared for the same objection to arise again!

11-26