Tuesday, 16 September 2014

Crib on Objection Handling

Your client resists? Theory says: "You haven't uncovered the NEED!" I will try to uncover practical objections scenarios here. 
Work with objections is one of the key moments of the entire sales process. Many lose the client at this stage. Remember - a discount is not a major lever for closing. Personally, I can not sell any product, pushing only the advantages of the goods, and how it differs from analogues, or just getting customer priorities well and reach his expectations.
So normally there three main objections you can hear: "this is too expensive", "we buy from other supplier and we don't want to change" and "I want a discount".
Main thing here is to understand if that's just that moment when potential customer wants to get rid of you saying that or it's THE reason why he is not willing to buy. I will offer you filters to recognize this.

1) Expensive compared to what? .. Yes, we are a bit more expensive however.....
2) Have a supplier - OK, that's always a good idea to have an additional one and ... try to offer what you have and figure out if there any gaps in service of current supplier and show how you can cover them.
3) I want a discount! - clear enough, I can offer you a discount with a next purchase, I can offer you something additional on top, try to up sell, etc.

FILTER 2 or Word lace
Take the last word of your customer and try to dig deeper. 
1) "We don't have money" - company is working and not closing down so... they have sales and have money. Now, try to dig asking why? what is that connected to? no money right now because you bought supplies? when are you planning/have budget next time? I will give you a call. The main GOAL here is to find out when the budget is going to happen/being approved etc. and try to manage it indirectly.
2) "We don't need" - don't need now or at all? why? when are you going to need this? and try to lead this conversation pushing to the point that the client will need that one day and make sure at the end of the conversation you should have this time frame when you can make a follow up call.
3) "We don't need already" - one day they will need. Please, follow N2.
4) "Sorry, I'm busy" - figure out when avail and try next time to not ask if he has some time to talk :) otherwise will never happen.

Good luck!