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Objection Management (Execution Plan)

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Description

What are Objections?

When customers demonstrate reasons why they are not going to buy, it is called an objection.
It is a clear indication by a buyer that there is a barrier between the current situation and what needs to be satisfied before he makes the purchase/closes the deal.

 

What is Objection Handling in the Sales Process?

Objection handling is when a prospect/client expresses a concern about the product/service, and the BD/sales professional responds in a manner that alleviates those concerns, enabling the deal to move forward.

 

Why is Objection Handling Important?

Remember, an objection is actually an indication that the buyer is engaged, which is better than him being apathetic. Be cognizant of all the money, effort, time and other resources that the organization has invested into attracting customers, prospecting and arranging

the sales process.

Work towards leading as many prospects to the actual sale as possible, and remember, you will often face not one, but many objections.

 

Objection Handling – Tips, Tricks and Techniques

Prepare

Consider and analyze the objections that your customers typically have, categorize these

objections.

 

Listen actively

Use active listening to show that you are interested in what your customers are

saying and want to help them.

 

Thankful

Avoid the natural tendency to treat objections as a bad phenomenon. Thank your client for

the objection as this means that you have been shortlisted.

 

Agree before you argue

You may need to give some arguments against objections to support the sale. However, to

keep the conversation easy-going, agree with the objection before giving your reasons

against it.

 

Learn to deny

As a seller, you have every right to deny certain sales objections. If you are certain that your customer’s objections are based on personal assumptions, you can deny them.

 

Clarify

Some sales objections are very vague, making it difficult to understand the actual objection

you have to handle. Don’t Guess! If you start handling an objection that you are not sure exists, it will hamper the sale.

 

Proactively Express your Objection

If you are sure of some of the objections that are likely to come up, it is best to proactively

express them by yourself. This technique makes your customers more favorable to your

arguments.

 

Demonstrate or offer a trail

Demonstrate some features of the product or offer a trial. Post the trial, when customers see that they were mistaken, the concerns are addressed immediately.

 

Write it down

Some sales objections are very vague, making it difficult to understand the actual objection

you have to handle. If you start handling an objection that you are not sure exists, it will hamper the sale.

 

Refer to others

Understand that customers tend to trust other customers experience and reviews. This

technique is especially powerful if your customers express a subjective sales objection that is associated with their uncertainty and expectations.

 

Conditional Close

In some situations, it is appropriate to offer an exchange to your customers. This exchange is as direct as asking them if they will buy the product/service, if you handle their objection.

 

Step back

If you feel that your customers are objecting and resisting the sale enormously you can pull

back a little and see what happens next. Sometimes, to get less objections you should limit your reaction to them.

 

Look for Hidden objections

If your prospects/customers don’t express any objections, doesn’t mean that they don’t have

any. You must ask your customers about their objections, while indicating that your

objective is not to sell the product/service, but to satisfy them.

 

Accept and move on

At some point, despite you having addressed all of the customer’s objections, some clients

continue objecting over and over again. Accept it and move on to other clients. It is not

profitable investing all your time and efforts into dealing with sales objections of a single

customer.