Module Eight Addressing Concerns and Earning Commitment

Module Eight Addressing Concerns and Earning Commitment

Sales Resistance is Positive! An Expert’s Viewpoint: “. . . It’s not easy to overcome every prospect’s objections. I must go into the call with the right mental attitude. It’s important to listen carefully to the prospect’s objections. They may not be objections but questions the prospect needs answered to feel comfortable with a buying decision. . ” Action

Sales Resistance is Positive! An Expert’s Viewpoint: Result “. . If I had a choice between a prospect that has several objections and another that has none, I’ll take the prospect that has several objections. This prospect is showing interest and gives me something to sell to. Prospects with objections turn into customers!”

Objection (Sales Resistance) Anything the buyer says or does that slows down or stops the buying process.

Reasons Why Prospects Raise Objections • The prospect wants to avoid the sales interview. • The salesperson has failed to prospect and qualify properly. • Objecting is a matter of custom. • The prospect resists change. • The prospect fails to recognize a need. • Prospect lacks information.

Major Categories of Objections • Need Examples I have all I can use. I don’t need any. The equipment I have is still good. I’m satisfied with the company we use now. We have no room for your line.

Major Categories of Objections • Need • Product or Service Features Examples I don’t like the design, color, or style. Maintenance agreement should be included. Performance of product is unsatisfactory. Packaging is too bulky. Specifications don’t match what we have now. The product is poor quality.

Major Categories of Objections • Need • Product or Service Features • Company or Source Examples Your company is too small to meet my needs. I’ve never heard of your company. Your company is too big; I’ll get lost in the shuffle. How do I know you’ll be around to take care of me in the future? Your company was recently in the newspaper. Are you having problems?

Major Categories of Objections • Need • Product or Service Features • Company or Source • Price Examples We can’t afford it. I can’t afford to spend that much right now. That’s 30% higher than your competitor’s comparable model. We have a better offer from your competitor. I need something a lot cheaper. Your price is not different enough to change suppliers.

Major Categories of Objections • Need • Product or Service Features • Company or Source • Price • Time Examples I need time to think it over. Ask me again next month when you stop by. I’m not ready to buy yet. I haven’t made up my mind. I don’t want to commit myself until I’ve had a chance to talk to engineering.

LAARC Method for Handling Buyer Resistance isten cknowledge ssess espond onfirm

Other Methods for Handling Buyer Resistance • Forestall Introduce the source of the objection before the prospect brings it up.

Other Methods for Handling Buyer Resistance • Forestall • Direct Denial Respond to the objection by telling the prospect s/he is wrong.

Other Methods for Handling Buyer Resistance • • • Forestall Direct Denial Indirect Denial Respond to the objection by providing evidence that helps the prospect realize s/he is mistaken.

Other Methods for Handling Buyer Resistance • Compensation Counterbalance the objection with an offsetting benefit.

Other Methods for Handling Buyer Resistance • Compensation • Question Ask the buyer assessment questions to gain a better understanding of the source of the objection.

Other Methods for Handling Buyer Resistance • • • Compensation Question Third Party Reinforcement Use the opinion or data from a third party source to help overcome the objection and reinforce the salesperson’s points.

Commitment The creation of an obligation between the seller and buyer. The seller obtains the buyer’s obligation to a specific action. The specific action is usually linked directly to one of the sales call objectives.

What Constitutes Commitment • • An Appointment Agreement for next meeting Agreement for product demo A sale

Guidelines for Earning Commitment • Resolve “Red Light” Statements Made by the Prospect – I’m not sure that will work. – The price is higher than I though it would be. ”

Guidelines for Earning Commitment • Look for Commitment Signals – “I like that size. ” – “I didn’t realize you delivered everyday. ” • Ask Trial Commitment Questions – “What do you think about the what we’ve discussed? ” – “Do you see how this will help your organization? ”

Techniques to Earn Commitment • • • Ask for the Order/Direct Commitment Legitimate Choice/Alternative Choice Summary Commitment T-Account or Balance Sheet Commitment Success Story Commitment

Dealing with No! • • • Evaluate the customer’s explanation Maintain the relationship foundation Understand rejection is a fact of life Evaluate your performance Learn from the situation Make improvements