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MANAGE SALES OBJECTIONS
MANAGESALESOBJECTIONS
WWW.KEYSTONEEXECUTIVECOACHING.COM
KEYSTONEINSIGHTS
Looking at an old index card taped tothe wall behind his desk is howauthor and sales veteran Jeb Blountrecovers from rejection. “The paper has yellowed, and thewords faded just a bit because I 'vecarried that card around with me for25 years,” Blount wrote. “On the cardare four letters: NEXT.” As anyone who has ever tried to sellcan tell you, some rejections can’t behelped. But they can be minimisedwith preparation. What’s important to remember isthat, when your prospect raises anobjection, it does not necessarilymean he or she has rejected youroffer. They may simply be examining theiroptions, weighing the risks, or tryingto wrap their heads around the ideaof change, which most peopletypically resist.
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5 WAYS YOU CANMANAGE SALESOBJECTIONS
4 TYPES OFOBJECTIONS
What to Expect
Objections are part of theprocess of human decision-making, which means theyare a natural and inevitablepart of the sales process aswell .
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Anyone who wants to sellwill benefit from learninghow to manage the doubt,fear, and insecurity that canarise when objectionssurface.
Source: Mike Schultz in “Rainmaking Conversations: Influence, Persuade, andSell in Any Situation”
LACK OF TRUST:Your prospect needs somehelp understanding yoursolution, your company oryou better. He may beworried about risk or loss.
LACK OF NEED:Your prospect doesn’t see aproblem, much less anyneed to change thesituation. Knowing yourprospect’s industry and itschallenges can really help.
LACK OF URGENCY:Your prospect doesn’t seethe full impact and value ofyour solution.
LACK OF MONEY:Find out more. Objectionsrelated to pricing arecommon, but sometimesthey can veil another issue.Ask your prospect.
5 THINGS TO SAY
TO YOURSELF WHENFACING OBJECTIONS
“My prospect or customer
wants to understand more . "1.
In 2012 and 2013, authors John E.Doerr and Mike Schultz studiedmore than 700 B2B purchases andspoke to 150 corporate buyers tofind out what those who had wonsales opportunities did differentlythan the sellers who were thebuyers’ second choice. By looking at sales from the buyers’perspective, Doerr and Schultzobserved that the most successfulsellers didn’t focus on theircustomers’ pains and problems. “The sellers most successful atcreating opportunities focus onpositives--goals, aspirations, andpossibilities achievable by thebuyer, even if the buyer doesn'tknow it yet,” they wrote. “Sellers who focus on aspirations, aswell as afflictions, are able toinfluence the buyers' agendadirectly by inspiring them withpossibilities they hadn't beenconsidering but should.” Listen to your prospect’s initialobjection and ask them to help youunderstand it better.
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In sales conversations, whoever exerts the greatest amount of emotional
control has the highest probability ofgetting the outcome they desire. To bend
the probability of a win in your favour,you must rise above and gain control of
your disruptive emotions.
Jeb Blount in “Objections: The Ultimate Guide forMastering the Art and Science of Getting Past No”
Sometimes, a prospect can beunsure about the value of theproduct or service you're offering.Remember the outcome that thisprospect or customer said theywanted, and remember that yourgoal isn’t merely to close a sale butto help improve their businessoutcomes and quality of life. Ask for time to explain theproblem or opportunity moreclearly. Top sellers are more likely tocollaborate with potentialcustomers and make a consistenteffort to be proactive, receptive,and easy to buy from.
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“ I genuinely want to help
my customer . "2.
“My product offers better
value for this customer
than what competitors
offer . "
3.
Know your product or service well,including what makes it differentfrom all the other options availableto your potential customer. When sales winners convincedtheir customers that the “overallvalue (of what they offered) wassuperior,” they also influencedthree other outcomes, Doerr andSchultz found.
They improved the buyer’s overall satisfaction with the buyingprocess, raised those buyers’ chances of buying again, and madethem more likely to refer the seller to others. Communicate your product or service’s strengths to a potentialbuyer as clearly as possible by emphasising its returns, its lowlevel of risk, and other factors that make you the best choice onthe market.
“Are there other decision-makers I can reach out
to here?"4.Despite your preparations, you may sometimes end up reachingsomeone who isn’t in the best position to decide whether or notto purchase what you’re offering. In such cases, set up ameeting or phone call with other individuals in theorganisation you’re trying to serve. Then try again. In most cases, however, prepare yourself to deal with severalindividuals in the same organisation whose priorities will vary,depending on which department they’re from. Before a sales call or demonstration, get your sales team toanticipate what the different objections might be from eachdepartment represented, and prepare clear responses.
We can’t overemphasise the need for a highly trained sales teamwho can support one another by studying and replicatingactions and techniques that lead to the highest close rates. You’ll need a system to track what those actions and techniquesare, as well as effective and sustained coaching to help yourentire team use these actions and techniques with theirprospects. Sales winners connect, convince, and collaborate, and themore wisely you invest in your team’s training, the better yourchances of developing more of these winners in yourorganisation.
“What approaches or techniques from the top
salespeople in my team can I try here?"5.
What Converts a Prospect
Into a Customer?
0 25 50 75 100
Listening
Engaging at just the right time
Demonstrating attention to detail
Demonstrating company reputation
Demonstrating industry knowledge
Demonstrating knowledge of business needs
Building personal rapport
Having reliable partners
Supplying customer references
Demonstrating ROI
78%
76%
74%
74%
74%
73%
71%
67%
62%
56%
Source: Salesforce's "State of Sales" Third Edition
out of 2,900 sales professionals told Salesforce that buildingpersonal rapport helps persuade prospects to becomecustomers
71%
BUSINESSCOACHING
Managing objections is just one ofmany skills we can help yousharpen in our Pay on Resultscoaching program. Pay on Results Business Coachingis designed specifically for thebusiness owner who is ready toscale, refine and grow theirbusiness over a 12-month period. We become fully invested in thesuccess of your business, workinghand over hand and side by side toensure we hit our targets. Simply put, if we don’t hit them,we don’t get paid in full . This is the gold standard ofbusiness consulting in Australia. We incorporate the psychology ofsuccess behind businessdevelopment, blending bothpractical tasks and coaching to theexact recipe that your businessneeds to achieve its ultimateoutcomes.
Solution sales isnot dead--not
even mostly dead.But it has changedin two important
ways. It’s nolonger sufficient
by itself forsuccess. Peopleneed to think
about itdifferently thanthey might have
in the past.
Mike Schultz and John E. Doerrin “Insight Selling: Surprising
Research on What Sales WinnersDo Differently”
PAY ON RESULTS
HOW DOES IT WORK?
Upon acceptance into the program, you will receive afull business appraisal and implementation plan after a30-day assessment period. Our team of experts find the areas that will give yourbusiness the biggest growth in the shortest amount oftime, and then set tangible goals with you for the next90-day block. Upon your agreement, our team develops an actionplan to reach those goals, providing a clear road mapfor your business. Each 90-day activity block is guided by yourdedicated business coach, who works with you toprovide tailored training and mentoring to help youachieve your goals. In addition, you will undergo quarterly round tablereviews of your business progress from a team ofexperts, giving you a complete view of your business. We provide the business owner a personalisedexperience, placing them back in the driver’s seat oftheir business, with clear measurable outcomes tocomplete for business results.
WHO IS IT FOR?
This program is for thebusiness owner who wants ahighly successful, scalablebusiness that gives them thelifestyle they want. It is suited to businesses with10 employees or above and aturnover of over $750,000annually, that are seeking tocreate a more sustainablesales and marketing growthand an outstanding teamculture. The program is delivered viaphone or Skype. However,every quarter your consultantwill fly to your workspace forthe review process to ensureyour goals are met and acomprehensive review takesplace. Alternatively, we willfly you to our location andhost you at our offices.
CLIENTSRECEIVE:
The Keystone 18-point fullbusiness appraisal.Business growth anddevelopment plan.Personal business consultanton call 24/7.Live in-house training asrequired.Representation and supportduring negotiations and salesif required.Unlimited access to allKeystone resources including:
Project managementsoftwareMarketing and sales trainingLeadership and culturaldevelopment mentoringBusiness planning and staffretention resourcesFinancial growth programsand training; and
A complimentary seat at alllive Keystone Workshops andTraining.
EXCELLENCEIN BUSINESS
THE 5 PILLARS OF
MARKETING AND LEADGENERATION
Marketing and media masteryOffline and local area explosionMagic marketing numbersBeating the competition
SALES AND CONVERSIONClosing on cueEmotional attractionBuilding a sales teamTender masteryTurning objections into closures
FINANCIAL MANAGEMENTManaging numbersDashboarding and financialcontrolDefensive accountingCreative accounting
LEADERSHIP AND AUTOMATIONBuilding the leader that runs yourbusinessBuilding the team that runs itselfHiring your first to your lastCreating business culturesBecoming the chief
MINDSET AND PERSONAL DEVELOPMENTEndless motivationBuilding a business that builds a lifePersonal and business satisfactionExecutive reasoning and controlPerformance precision
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ABOUTAIDANPARSONSAidan Parsons is a man whostands on the shoulders of hisresults. He is an expert in profitable,controlled, and consistentbusiness growth. Combininginsights into human behaviorand best business practices,he specialises in the rapidand repeatable acquisition ofnew work with a higher profitmargin and lower cost-to-service. Over the past five years,Aidan's strategies andmentorship have helpedKeystone's clients generateover $630 million inadditional revenue. Over 70percent of Aidan's seven- andeight-figure clients beganworking with him when theirrevenue was less than$300,000. Aidan prides himself onmeeting business ownerswhere they are and walkingwith them in a consideredand paced way to theirbusiness targets.
Working with Aidan is notabout doing everything, butdoing the one right thing thatimproves everything. He charges his fees after hisclients hit their financialtargets. In short, if he doesnot hit his target with you,he doesn't get paid. No other business mentor inAustralia is backingthemselves with such rock-solid conviction. That's why he's oftendescribed as the guy you goto when you're serious aboutgetting to work.
WHAT NEXT?Would it be wrong to suggest that through mastering sales,
marketing, leadership, finances, and mindset, you could have totalexecutive control of your business? Find out more.
Visit www.keystoneexecutivecoaching.com for more resources.
Email [email protected] your
general enquiries.
Or call 0401 264 339 to find out how Aidan Parsons can help youplace an effective and sustainable sales process in your business.
