Professional Documents
Culture Documents
Objectives
Objections
When to close the sale How to close the sale Problems with closing the sale
Identifying Needs
Identifying Needs
Approach
Follow up
Introduction
Many objections should be anticipated, raised, and answered by the salesperson The closing of the sale starts from the moment the salesperson greets the prospect
Introduction
When closing or answering objections, the chance of losing the sale is the greatest. Conflict can create a situation where no one wins When the salesperson loses the sales the prospect loses the potential benefits from owning the product or service
(Source: Hite and Johnston)
Definition
Objection- opposition or resistance to information or a request Closing- step in the selling process in which the salesperson helps the prospect make a decision about the product to conclude the sale
(Source: Futrell)
Introduction
Objections
Why objections?
Why objections? Prospect may be afraid of purchasing the wrong type of product The salesperson should welcome objections
The most difficult prospect to handle is one who says no and gives no reason Objections should not be taken personally
Why objections?
Anticipating Objections The salesperson should anticipating objections Objections should never be ignored Most of the time they should be answered immediately, but occasionally they should be put off If the objections is not answered immediately, the prospect may hear little of what else is said
(Source: Hite and Johnston)
Types of Objections
What do objections pertain to Real vs. hidden The stall The specific objection The price objection
Types of Objections
With a real objection, the salesperson can show that the product provides the benefits necessary and is worth the price
Hidden objections- when the object is not clearly state due to the prospect not wanting to clearly state it
Usually the prospect will not purchase the product until the hidden objections have been handled
(Source: Futrell)
Types of Objections
The Stall
Types of Objections
The Specific objection- Prospect telling you certain information that they are concerned with
I am not sure about the color I need to measure The computer doesnt have enough memory
(Source: Huisken174)
Types of Objections
Types of Objections
1) Value 2) Budget
Many sales and profits are lost to the assumption that the objection is due to value as opposed to budget
(Source: Huisken)
Types of Objections
The Price Objection The price objection is often used in place of the real objection The prospect may be saying, You havent sold me If a salesperson reduces the price, this may or may not solve the problem The salesperson should show the true economic value of the product (show that the benefits outweigh the costs)
(Source: Hite and Johnston)
Handling Objections
Handling Objections
Step One- Listen carefully, sincerely, with undivided attention Step Two- Repeat the objection back, in a slightly different form Step Three- Provide new evidence or information without offending the prospect Step Four- Answer the objection
1) convert the objection into a question 2) Use testimonials or third-party experiences 3) Use boomerang or positive conversion techniques 4) Use comparisons
(Source: Hite and Johnston)
Handling Objections
Convert the Objection
Salesperson: You have brought up a good question or Many people have the same question
Covert the initial statement or objection to a question
Salesperson: The question here is whether or not our products benefits are worth the additional costs, isnt that correct?
If the prospect agrees, then the question can be answered If the prospect do not agree, then have the prospect restate the question
(Source: Hite and Johnston)
Handling Objections
Use Third-Party Stories Show that other people in a similar position have felt the same way Allow how they felt their solution (your product or service) was the best Use testimonial
Handling Objections
Convert the prospects objection into a reason why the prospect should buy
Handling Objections
Use Comparisons
Best used when the prospect brings other products up Let the prospect draw conclusions
Handling Objections
What type of objection is this and how would you handle the objection?
1) I dont think it is worth what you are asking 2) I dont like the color 3)I am not ready to make a decision 4) You did not deliver our last order when you promised 5) I dont need to take on another brand of breakfast cereal-we have plenty now 6) I thought the price of this was too high 7) It is really more than we wanted to spend
Viewed as part of the total selling process that will naturally occur if the salesperson meets the desires of the prospect Close- a question or action by the salesperson intended to evoke a favorable decision from the prospect
When to close the sale How to close the sale Problems with closing the sale
Salespeople need to learn to recognize the clues when they occur 1) Facial Expression 2) Physical Actions 3) Verbal Comments
Direct close Assumptive close Summative close Demonstration close Negative close Special concession close
(Source: Hite and Johnston)
1) Fatal alternative-series of relatively minor choices that ultimately lead to the decision to buy 2) Open-ended question- assumes the prospect is ready to buy
Would you like me to deliver this unit? (Source: Hite and Johnston)
Summative Close- summing up the benefits and recapitulating the points of agreement-thereby encouraging the prospect to make the decision
(Source: Hite and Johnston)
Demonstration Close- demonstrating the product or equipment in actual use can be very effective
Product shortage Price increases will follow Used on procrastinators or people who want to think it over indefinitely
(Source: Hite and Johnston)
offering a price concession some additional piece of merchandise either free or at X off the price Additional case free for every x amount bought Can cause problems with repeat buyers Prospects may feel undue pressure Best used on procrastinators
(Source: Hite and Johnston)
Prospects may be afraid to buy Industrial buyers often face greater risks that than the seller Industrial buyer must consider:
1) Judge the supplier in terms of reliability, capability, and value 2) Companies budget 3) Goals of the firm 4) Capabilities of the equipment being considered 5) Complying with regulations 6) The buyers personal reputation as an effective purchaser
(Source: Hite and Johnston)
1) Fear of rejection 2) Wrong attitude 3) Talking too much 4) Inadequate presentation 5) Improper prospecting
1) Shall I drop off a case tomorrow? 2) When would you like me to deliver this unit? 3)This is the last one we have in stock 4) This is a limited time offer 5)So what do you think, would you like to go ahead with the purchase? 6) This home has a two-car garage, fenced yard, three bedrooms, is in the school district you wanted, and in the price range you are looking for. Should we make an offer? (Huisken) 7) If you take it today I will give a surge proctor at no charge, but that is only for today
After the sale Adding-on Saving the Sale (The Turnover) Other forms of closing the sale