Chp 12 Prospects Objections ppt
- 1. 12-112-1McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
- 3. 12-3 Welcome Objections! Accept objections as a challenge People do not want to be taken advantage of Learn to overcome objections
- 4. 12-4 What are Objections? Opposition or resistance to information or the salesperson’s request is an objection
- 5. 12-5 Prospect may object any time during sales call Always be ready to handle a prospect’s objections When Do Prospects Object?
- 6. 12-6 Objections and the Sales Process Objections can occur at any time When objections occur, quickly determine what to do
- 7. 12-7 Basic Points to Consider in Meeting Objections Plan for objections Anticipate objection before it arises Handle objections as they arise – postponement may cause a negative mental picture or reaction Be positive Listen – hear them out
- 8. 12-8 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
- 9. 12-9 Practical vs. Psychological Practical Price Product not needed Prospect has overstock Delivery schedules Psychological Resistance to $$ Pre-determined beliefs Negative image of company/sales force
- 10. 12-10 Categories of Objections Hidden Unwilling to discuss true objections Ask probing questions Stalling I’ll think it over I’ll be ready to buy later this month P. 377
- 11. 12-11 Categories of Objections No-Need Objection I’m not interested Thanks for coming by P. 379 Money Objection Costs too much/price too high Price Value Formula Price/Value = Cost
- 12. 12-12 Categories of Objections Product Objection Risks/competition Source Objection May not like you or your company
- 13. 12-13 Exhibit 12.7: Techniques for Meeting Objections
- 14. 12-14 Techniques for Meeting Objections Dodge: neither denies, answers, nor ignores Pass up: seasoned salesperson Rephrase: ‘Active listening’ an objection as a question (Exhibit 12-8)
- 15. 12-15 Techniques for Meeting Objections Postponing: sometimes necessary Boomerang: send it back Smoke out objections Five-question sequence (Exhibit 12-10)
- 16. 12-16 Exhibit 12.10: Five-Question Sequence for the Smoke-Out Back to 12-23
- 17. 12-17 Techniques for Meeting Objections, when they are incorrect…. Use direct denial tactfully The indirect denial works ‘I agree’ ‘Yes’ Compensation/counterbalance method Show the benefits/value in profits Third party answer Proof of testimony
- 18. 12-18 Let’s Review! When Is It Time to Use a Trial Close? After making a strong selling point in the presentation After the presentation but before the close After answering an objection Immediately before you move to close the sale
- 19. 12-19 Let’s Review! What Does the Trial Close Allow You to Determine? Whether the prospect likes your product’s FAB – the strong selling point Whether you have successfully answered the objection Whether any objections remain Whether the prospect is ready for you to close the sale
- 20. 12-20 What is an Example of a Trial Close Used to Respond to an Objection? “Does that answer your question?” “With that question out of the way, we can go ahead – don’t you think?”
- 21. 12-21 Once You Have Satisfactorily Responded to the Objection, What Should You Do Next?* Make a smooth transition back into your presentation “As we were discussing…” Move to close the sale if you have completed your presentation Move to close again if objection was after a close
- 22. 12-22 If you Cannot Overcome the Objection, What Are Three Alternatives to Consider? (#1) Return to presentation concentrating on new or previously discussed FABs of your project.
- 23. 12-23 If you Cannot Overcome the Objection, What Are Three Alternatives to Consider? (#2) Admit it Compensate for it by showing how your product’s benefit(s) outweigh the disadvantage(s)
- 24. 12-24 If You Cannot Overcome the Objection, What Are Three Alternatives to Consider (#3) If 100% sure the customer will not buy Go ahead and close Always ask for the order Allow the buyer to say “no” – don’t say it yourself Your competitor(s) may not be able to overcome the objection(s) either A competitor may make the sale because he/she asked for it Be professional, not pushy Leave the door open for a return visit
- 25. 12-25 Exhibit 12.12: The Procedure to Follow when a Prospect Raises an Objection Prospect raises an objection Prospect raises an objection Response to the objection Response to the objection Use a trial closeUse a trial close Move into your presentation Move into your presentation Close the saleClose the sale
- 26. 12-26 If After Your Presentation You Received a Positive Response to Your Trial Close, What Would You Do? Approach Presentation Trial Close Determine Objections Meet Objections Trial Close Close
- 27. 12-27 If After You Meet the Objection You Received a Positive Response to Your Trial Close, What Would You Do? Approach Presentation Trial Close Determine Objections Meet Objections Trial Close CloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseCloseClose
- 28. 12-28 If After Your Presentation You Received a Negative Response to Your Trial Close, What Would You Do? Approach Presentation Trial Close Determine Objections Meet Objections Trial Close Close
- 29. 12-29 Approach Presentation Trial Close Determine Objections Meet Objections Trial Close Close If After You Meet the Objection You Received a Negative Response to Your Trial Close, What Would You Do?