Overcoming Objections
Do you need help overcoming objections in the sales process? Click here.
Also see the entry Overcoming Objections: Part II and Overcoming Objections: The Perfect Turnaround.
Salespeople hate when clients and prospects throw objections at them. Far too often it stops them in their tracks. But this should not be the case. Objections are part of selling and are really just an opportunity for the salesperson to show how valuable their product and service is.
The reason salespeople hate objections is because they're not prepared to hear them and turn them around. If they were, they would realize that they hear the same basic objections 99% of the time.
If you're prospecting for appointments by telephone have you ever heard:
1. “Could you send me information?”
2. “We have someone else we've been using for years.”
3. “I'm too busy and can't see you this week.”
4. “Your prices are too high.”
5. “I'm not the right person.”
How about these; most commonly heard during face to face appointments:
1. “I've got to think about it.”
2. “I can get it cheaper.”
3. “It's not what we're looking for right now.”
I'm sure there are others, but these are the most common. We've all heard those hundreds and thousands of times. Yet, so many salespeople, when confronted with these objections act as if they never heard them before and stumble through their turnarounds and do you know why?
BECAUSE THEY'RE NOT PREPARED!!! Yesterday I wrote an entry titled, “Professionals Practice: Do You?” In it I wrote that successful professional salespeople work off a script when on the phone. The script, which they practice so it no longer sounds like a script, also contains the most common objections they hear, along with the turnarounds they will use for those objections.
If you are truly a professional, what you need to do is write down the most common objections you hear, on the phone and in person, along with the turnarounds you will use to counteract those objections. Practice them; know them by heart; learn them so well that you never have to think about them while you're selling. They just become second nature.
By doing this, you've out-prepared the prospect, which gives you a better chance of winning. Believe me, the prospects of the world are not out there writing down new and better objections in order to stump you.
There are only a couple of turnarounds you need that cover most any objection. For instance, there's the “Repeat, Reassure and Resume,” turnaround. In other words, repeat the prospect's objection, reassure her it's a great objection and then just keep on going, because you don't want to talk about the objection, you want to talk about the appointment or the sale.
For example, you're on the phone, trying to sell an appointment and the prospect says, “Could you send me some information?” Of course you could, but do you want to? NO and why not? Because they won't read it and even if they do the information doesn't do a better job of conveying the benefits of what you do better than you can. SO SAY THAT!
Reply, “Of course I could send you some information, I would love too (Repeat, reassure), however, when I come and see you I can do a much better job than the information can of showing you how our company can save you time and increase your productivity and sales. Can we get together next Tuesday at 3?” (And, you “resumed.”).
Always discuss what you want to discuss, not what they want to discuss.
I once got the complaint from my sales team, "we keep getting the same objections." My answer was, "Great, you should be getting good at them by now with all that practice."
Classic! Nice site by the way.
Hi!
My name is Savio, I am an new life insurance agent.
As I have started new in this field I am very shy of asking new business
from people, freinds and relatives. I feel that my relatives and friends will reject me for being life insurance agent as they are more sucessful and earning lots of money than what I am earning. Infact some of them have already rejected me and disapprove me for my being a life insurance agent. I am worried what other people will think and say about me. What should I do to have confidence and high self esteem so that I can over come this problem and build a successful insurance agency.
I am also having problems related to insurance business like for example
How do I qualify prospect from suspect.
I am facing the objections listed below during asking people to takeout insurance policy from me, setting an appointment and during followup. But I do not what to answer. I would be very thankful to you if you can answer these objections.
1)We already have an life insurance agent.
2)Just bought an life insurance policy , no longer have a need for what you offer.
3)I'm happy with my current insurance agent.
4)Can't give out that type of information, company proprietary.
5)Have a friend in the business who we buy through.
6)The returns are very less.
7)The premium is very high.
8)I cannot afford it.
9)I will give you a call, but the prospect never phones.
10)I have some other priority and commitments.
11) I have recently bought house my expenses are very tight.
12) The other company is giving higher dividends and returns for the same policy at the same price (Premium amount).
13) I don't need it right now call me after
three weeks.
14)why do you want to sell your policies here in my company.
15)I do not have time, Call me next week.
16)I dont need insurance cover for my children.
17)The returns in other investment schemes are very high compared to what you're offering in your scheme.
18)We already have a corporate agent.
19)I don't have the budget.
20)Just recently I had a very huge expenses.
21) I am on holiday call me next week.
22) My mother is not well.
23) I have to pay bills, I don't have money.
24) I will speak to my people and let you know, after few follow up the prospect says I didn'nt have time to speak to them.
25) How much commission will you earn from this policy and how much rebate will you give me.
26) Do you do other investments such as stocks, bank savings and deposits etc.
27) Other financial investments are better than buying life insurance.
28) I am already saturated with life insurance policies.
I have read your article which is helpful, but I still want answers to the above questions as my business is stagnant and am unable to make any progress.
I would be very greatful to you if you can spend some of your valuable time and answer all these questions at the earliest.
You can contact me at savio_saviorebello@rediffmail.com
Thanks & Best regards,
Savio
Warren, this is my first visit to your blog, and I love what you are doing here. Your posts are short, clear, and full of useful information. Preparation is everything in sales, and I think most sales people spend so much time mailing info packets out and chasing leads that are clearly not interested that the think they do not have time to prepare. In my opinion most sales people could double their income if they would just slow down, prepare properly, and implement a systematic approach for follow up.
Thanks for the great article!
My wife and I ordered a freezer from Sears. The short of it is they had us wait around and schedule two different days for the delivery only to reschedule it on a third day. This has gone on for three weeks.
I spoke to the lady from the delivery company and she
offered very little explaination or sympathy. I cancelled my order. The shipping and delivery companies are outsourced. When I called the saleslady
at the store, she explained that 90% of their lost sales are due to the shipping companies. When is Sears going to correct these problems and get directly involved when there are problems like this.
The competition is eating their lunch.
Brad,
Thanks for the nice comments regarding my blog and about salespeople: you couldn't be more right. They spend way too much time sending out info packets and chasing the wrong people, but they love doing that. Why you ask? Because sending information is comfortable. It's not a "No" and it creates the "Illusion of Selling." You can also cover your ass with your boss by saying, "Hey I'm contacting tons of prospects and I can prove it with all the great info packets I'm sending out.
Of course they never seem to make a sale.
That is so true. I had a outside rep that worked for me for about two months. He ignored every piece of advice I gave him and just walked around downtown passing out info packets and collecting business cards. Guess what in two months he passed out hundreds of info packets and did not make one sale. It's probably why he only lasted 2 months.
The bummer of it all is, the guy had skill, and could quote every sales book ever written. He was just too afraid to ASK for a sale.