Objection handling-presentation
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The document outlines a structured approach to objection management in sales, detailing how to address common objections like budget constraints, incorrect contacts, and competitor comparisons. It emphasizes the importance of creating an objection management document (OMD) to ensure effective communication and confident delivery of responses tailored to potential clients. Additionally, it provides a step-by-step process for developing the OMD and encourages ongoing iteration and feedback within the sales team.
Objection handling-presentation
- 1. Objection Management A formula for getting from “no” to “yes”
- 3. Agenda 1. How to overcome the most common objections • What questions you’ll need to ask • How to respond 2. How to create your very own objection management document • Why you need an OMD • What to include
- 4. No budget Have I established value? Am I targeting the right contact / department? Is the pain urgent/large enough to justify?
- 5. Refer back to the mutually agreed upon value proposition during the evaluation process. No budget – how to respond Reestablish the goals of your prospect’s specific unit, and look for ways to impact other departments. Discuss the opportunity cost of not making a decision now.
- 6. Wrong contact Do I fully understand my contact’s motivations? Have I built enough confidence in my contact to be a champion? Have I identified the value proposition for each contact role?
- 7. Wrong contact – how to respond First, reiterate the value you can deliver for that individual – not anyone else. Arm them with an airtight value proposition they can take to the decision-maker. Work with them to present the value proposition in a successful way. (Extend trial, give credits, etc.)
- 8. Using a competitor How deeply is my contact integrated with my competitor’s solution? What does my contact like / dislike most about my competitor? How do my competitive advantages map against their current pain point?
- 9. Using a competitor – how to respond Focus on the positives of your solution, not the negatives of your competitors’. If possible, emphasize how your product fits into their current stack. (Integrations, workflows, etc.) Define an evaluation process that draws out your strengths relative to your competitor.
- 10. No time What’s most important and urgent right now? When would be a good time? Is there a time-limited offer I can send?
- 11. Send more info To send or not to send? (more information) Is this just a convenient excuse to get off the phone? How can I move the sales conversation forward and become more relevant?
- 12. Objection overkill How can I help my prospect prioritize? Should I just let them get it out of their system? Ignore the nice-to-haves.
- 13. Too expensive Did you talk price before value? Is it really price? Can I show how my price includes features competing vendors charge extra for?
- 14. Why create an OBM? Harnesses the collective intelligence of the whole sales team. Ensures confident and succinct delivery in line with company branding. Frees up mental RAM (reps won’t always have to be Johnny-on-the-spot).
- 15. Creating an OMD in 1 hour • Don’t focus on perfection – focus on getting it done. • Get together for one hour to write the first version. • Write down the 10 most common objections you encounter. • Write down the best answer to each objection in 3 sentences or less. • Train your team to use the OMD.
- 16. Iterate and improve • Hold monthly meetings. • Collect feedback. • Add more objections. • Improve existing answers.
- 17. Assign a champion Somebody in your team needs to… • Make sure reps actually use the OMD. • Encourage reps to take notes about objections and responses.
- 18. Close.io now integrates with Datanyze
- 19. Datanyze Insider – the all-in-one browser extension for sales reps! Free objection management template, built by Steli! https://www.datanyze.com/product/#prospect http://resources.close.io/objection-management-template
- 20. Questions ?
Editor's Notes
- #2: Sam to intro
- #3: Sam to intro
- #19: Managers are often tasked with carrying out projects assigned by directors and VPs -these are your in the weeds guys and potential power users -remember, their buy-in is oftentimes CRUCIAL for a deal to move forward since they will likely be more hands on with the functionality of the product. Alright – turn it over to Pouyan to talk more about the outreach side of things
- #20: Managers are often tasked with carrying out projects assigned by directors and VPs -these are your in the weeds guys and potential power users -remember, their buy-in is oftentimes CRUCIAL for a deal to move forward since they will likely be more hands on with the functionality of the product. Alright – turn it over to Pouyan to talk more about the outreach side of things
- #21: Managers are often tasked with carrying out projects assigned by directors and VPs -these are your in the weeds guys and potential power users -remember, their buy-in is oftentimes CRUCIAL for a deal to move forward since they will likely be more hands on with the functionality of the product. Alright – turn it over to Pouyan to talk more about the outreach side of things