Sales Techniques Making the Sale by Overcoming Objections
The Sale begins with the first NO. This is Bedrock Philosophy by every high earning Salesperson. Of course nothing replaces the value of a well structured sales presentation as explained in a previous Factoit entitled: "The 5 Essential Elements of a Sales Presentation".
In fact, overcoming objections can only be accomplished successfully after a full presentation. Just introducing yourself followed by a quick introduction of you , your company, your product/service, and a price will not work. The Sales Presentation takes time and allows for a business relationship to bud with an understanding of the Prospect's total situation, needs, financial info, etc.... When an objection arises, the salesperson uses the ammunition gained during the presentation to fire back. Without the knowledge gained about the Prospect and his needs and desires during the course of a presentation you will not be able to close the sale. You will not be able to overcome the most simple objection because there has not been a relationship and an understanding developed to fuel the sale. And to create the urgency often necessary to write the sale now, and not tomorrow. Overcoming Objections is how the "B-Back" is sold. Selling the "B-Back" today, and not when the "B-Back" is ready to buy - is Selling.
ISOLATE THE OBJECTION:
First and foremost, separate the objection from all that is acceptable in the deal. You can suggest "other than that issue, are you ok with everything else"? whatever you do, you must bring the objection(s) out in order to overcome it. There is nothing worse than being in a Closing situation and an objection arises that should have been dealt with earlier-on in the presentation. Nothing is worse than breaking stride in a presentation and losing the timing of the selling process. Before addressing the objection always put the prospect at ease by suggesting his objection is typical, and easily addressed. Remember, often times, the first objection raised is sometimes camouflage for the true objection. When this happens the real objection is usually about money. Throughout the entire process of overcoming objections you must always be sincere in your response, and making the prospect feel that you are thinking in his or her best interest - over and above making the sale!
BEN FRANKLIN CLOSE:
Ben Franklin is well remembered by the logical way he, literally, overcame objections. His method of showing the positive side of the argument versus the negative side is now known as the "Ben Franklin Close". Taking into consideration there is usually only one or two objections preventing the sale, here is how that technique is used. First, take a sheet of paper and draw a vertical line down the middle making two side by side columns. On the left column write all the positive reasons for the sale, taking the answers from the Prospect. Expound with the Prospect about all the positives. You want to end with as long a list as possible showing all the reasons for the sale. Then on the right side, list the negatives. Again, all the items on the list must come from the Prospect, and not just words out of your mouth. Once both lists are complete, then tear the sheet of paper down the middle. You should have one sheet with many reasons for the Prospect to buy, while the other sheet only has one or two reasons not to buy. The logic of seeing on paper all the reasons to buy, while the other half of the sheet may only show one or two reasons can be the logical proof needed to tip the Prospect towards buying. Furthermore, it creates great isolation of the objection(s) for the Salesperson to overcome and write the sale. After all the objections are answered to the satisfaction of the Prospect, you can close out the objection handling process by qualifying the Prospect to the extent that all questions have been answered, and that there are no other questions. This is important because once you're into the Close you do not want to have to re-trace your presentation in answering questions out of the context of your presentation. It is important that you are always moving forward in your presentation, and not backtracking into areas that should have been addressed earlier in your presentation.
TRANSITION TO THE CLOSING THE SALE:
In the transition from overcoming objections to the closing of the sale, it is important that the Close is seamless and appears as a natural course of events. You never ask for the sale- you assume the sale by writing the contract.
Remember Closing a sale begins with the Introduction. You are always closing from the moment of Introduction. No matter how effective an individual may be at handling objections, nothing is more effective than a full and informative Sales Presentation. Handling objections can only work when the salesperson has established credibility with the Prospect. Credibility is gained through an effective presentation. The client will believe you and will have faith in what you say, only if you sound like you know what you're talking about, and then, and only then, handling objections can be accomplished successfully. Good Selling to You!