I OBJECT

I OBJECT:

Excuse me? “These cost how much? We can’t afford this.” “Oh my, so expensive! I think we will have to wait before we move forward.”

Objections, (I call them barriers), are part of the process in selling either at wholesale or retail, whatever your product or service may be. It simply happens. It is a fact of business life and Prospects can object at any time or at any moment.

First, what is an objection or barrier? This step, which is overlooked by many sales professionals, is crucial to a positive end result for all parties. We must have a clear-cut understanding of the Prospect’s pain points in order to offer up the correct solution.

WHY does it occur?

When a Prospect objects, they are putting a stop to the conversation or sales process because they feel out of control in the buying process OR they are just flat out afraid of buying. As with human nature, if we feel out of control, we exercise what little control we have by objecting or putting on the brakes. When a Prospect does this, they regain control of the process and feel empowered.

There is a law in sales: people buy with emotion and justify with logic. If your Prospect is not feeling emotionally in control or good about the situation, they will not make the leap to buy. They simply cannot logically justify what they are feeling.

Second, objections typically fall into three large buckets.

1. Mismatch of prospect need to the solution offered

2. Fear

3. Lack of understanding

Selling is a process for guiding an effective conversation in which both parties feel satisfied with the conclusion. The process begins with each party knowing up-front what will happen over the next few minutes or hours. This is called “setting the agenda.”

The second part of this sales process is to ask questions in a Socratic style (open -ended questions). This is critical as many professionals fail to do this properly.

Third, you must recommend your solution and gain agreement that it makes good sense to the Prospect. You must also offer the consequences should the prospect fail to move forward and gain agreement that not moving forward would be detrimental to the Prospect’s organization.

Remember the law? People buy with emotion and justify with logic? Features = logic; benefits = emotion.

The Closing: We must ask for the business. Now with every step of the sale, we have ended with a question to check back with the Prospect. This is critical to sharing control of the conversation thus reducing fear and making certain you and the Prospect are on the same page of the solution. Asking for business is a natural part of the process provided the process is executed correctly. However, there is a second law to be followed: he who speaks first loses. So ask for the order and be quiet. Not obeying the law costs billions of dollars in the world of sales. Our job is to lead people to the best possible solution to ease their pain and fulfill their needs.

Those who execute the sales process correctly will still receive barriers but they will be minimized greatly.

Skepticism: One of the most common barriers we face comes in the form of skepticism. Skepticism is the emotion of disbelief. “You can’t do that.” “I can’t have that.” It is also one of the easiest to overcome. Begin with asking a question. “What do you mean?” Next acknowledge that other prospects/clients have had the same questions or response. Offer relevant proof that you can and will deliver the results/solutions you are offering, and check for acceptance.

Misunderstanding: The next common barrier is that of misunderstanding. Misunderstandings are emotions or perceptions. For instance media messages surrounding two pairs of glasses that should cost $99.00. Seldom have the customers read the fine print at the bottom of the ads that restricts the offering. However the perception of the customer is that eyewear should cost somewhere about $100.00 to $300.00 a pair. It is not uncommon for eyewear to run $300.00 to $600.00 a pair. When someone questions the cost, we need to step back and ask “What did you expect the cost to be?” When the Prospect replies with a number, then we need to again ask “Is that a problem”? Now we are letting the Prospect decide if price is a real issue vs. letting us decide for them. Once the Prospect responds back, it is the perfect time to revisit Features, Advantages and Benefits that you and the Prospect have already agreed upon. Remember the law, we buy with emotions and we justify with logic.

Drawback: Finally we have drawback. Drawbacks are the emotion of being stubborn. This is good and bad. The person being stubborn thinks it is good, all others think it is bad. It is an emotion born from limited options. “I will NOT pay that much.” “I want only what I want.” To respond, we must again respond with a question to understand. “I understand you want to stay within the confines of your plan, can you tell me why that is so important?” The response could be logical; however, it might very well provide insights to overcome the barrier. You must outweigh the barrier with ALL the Features, Advantages and Benefits previously discussed. Like a judge’s scale, we are trying to outweigh all that is good over the one or two barriers the prospect has presented. We want the prospect to say “You are right!” “I can pay a little extra to get what I want and need.”

Silence: When we ask for an order, at times we are met with silence. It takes seconds but it seems like minutes. This is a normal reaction to the offer you presented. The Prospect is evaluating many things at once. Is this a good buy? Do I REALLY need this? Is this a good value? Should I source other places? Do I need to talk this over with someone I trust? Maybe I should think longer about this…Remember the law he who speaks first loses? If you speak first the prospect will balk. Emotionally you have given the Prospect a way out. You did not mean to but you did. “I know there is a lot to think about.” “You look like you are struggling; can I answer something for you?” These are classic deal killers.

Barriers are part of business. There is no way to escape them. There is a correlation between a poor sales process and higher number of barriers and lost deals that should have been won.

Three Important Steps:

1. Reduce the number of barriers

2. Identify the top three you face the most

3. Plan a response to the most common barriers you face

Remember the Key Steps: Ask Good Questions; Provide Proof; Review all Features, Benefits and Advantages; Check for Acceptance.

If you follow a solid process to minimize barriers, and then have a plan to deal with the most common barriers, you will enjoy great Prospect satisfaction and your average number of sales will increase.