Ch 8 - Addressing Concerns and Earning Commitment

Buyer’s objections to a product or service during a sales presentation

Sales resistance

Reasons why prospects raise objections:

• The prospect wants to avoid the sales __

interview

Reasons why prospects raise objections:

• The salesperson has failed to prospect and __ properly

qualify

Reasons why prospects raise objections:

Reasons why prospects raise objections:

• Objecting is a matter of __.

custom

Reasons why prospects raise objections:

• The prospect resists __.

change

Reasons why prospects raise objections:

• The prospect fails to recognize a __

Need

Reasons why prospects raise objections:

• Prospect lacks __.

information

Types of Objection + how to respond to it?

Buyer has recently purchased or does not see a need for the product category.

“I am not interested at this time.”

no need

stimulate need awareness through effective questioning (SPIN, ADAPT)

Types of Objection + how to respond to it?

Buyer might be afraid of product reliability.
“I am not sure the quality of your product meets our needs.”

Buyer might be afraid of late deliveries, slow repairs, etc. “I am happy with my current supplier’s service.”

Product or Service Objection

emphasize features + benefits

Types of Objection + how to respond to it?

Buyer is intensely loyal to the current supplier.

“I am happy with my present supplier.”

Company objection

Offer evidence (preferably 3rd party)

Types of Objection + how to respond to it?

Buyer has a limited budget.
“We have been buying from another supplier that meets our budget constraints.”

Price is too high

attempt to get a lower price or show value gained exceeds costs or find ways to build in additional value

Types of Objection + how to respond to it?

Buyer needs time to think it over.
“Get back with me in a couple of weeks.”

time / delaying

don’t be pushy but present meaningful reasons why to move forward now

What is the acronym used to help handle buyer resistance and what does each letter stand for?

L - listen

A - acknowledge

A - assess

R - respond

C - confirm

Other methods for handing buyer resistance:

Introduce the source of the objection before the prospect brings it up

Forestall

Other methods for handing buyer resistance:

A rather harsh response that the prospect is wrong.

direct denial

Other methods for handing buyer resistance:

Softening the blow when correcting a prospect’s information

indirect denial

Other methods for handing buyer resistance:

Turn a reason not to buy (the source of the objection) into a reason to buy (2 terms)

translation or boomerang

Other methods for handing buyer resistance:

Counterbalance the objection with an offsetting benefit.

compensation

Other methods for handing buyer resistance:

Ask the buyer assessment questions to gain a better understanding of the what they are objecting to.

Question

Other methods for handing buyer resistance:

Use the opinion or data from another source to help overcome the objection and reinforce the salesperson’s points.

Third party reinforcement

Other methods for handing buyer resistance:

Salesperson relates that others actually found their initial opinions to be unfounded

Feel-Felt-Found

Other methods for handing buyer resistance:

The salesperson tells the buyer that he or she will be covering the objection later in his or her presentation

Coming-to-That

Often referred to as “closing,” gaining __ refers to the prospect’s willingness to make a purchase from the salesperson

commitment

Below are all examples of what?

“That will get the job done”

“I didn’t realize you delivered everyday.”

“The price is lower than I thought it would be.

commitment signals

Below are all examples of what?

“What do you think about what we’ve discussed?”

“Do you see how this will help your organization?

Trial commitment Qs

Below are all examples of what?

– “I’m not sure that will work."

– “The price is higher than I thought it would be.”

– “Your delivery schedule does not work for us.”

– “I don’t see the advantage of going with your proposal.”

“Red Light” Statements Made by the Prospect

What traditional commitment method is described below and should be AVOIDED:

This close puts a time limit on the client in an attempt to hurry the decision to close. “These prices are good only until tomorrow.”

Standing-Room- Only Close

What traditional commitment method is described below and should be AVOIDED:

The salesperson assumes that an agreement has been reached. The salesperson places the order form in front of the buyer and hands him or her a pen

Assumptive Close

What traditional commitment method is described below and should be AVOIDED:

__ or — Close: The salesperson tells a story of something bad happening if the purchase is not made. “If you do not purchase this insurance and you die, your wife will have to sell the house and live on the street.”

Fear or Emotional Close

What traditional commitment method is described below and should be AVOIDED:

__Close: This close uses the principle that saying yes gets to be a habit. The salesperson asks a number of questions, each formulated so that the prospect answers yes.

Continuous Yes Close

What traditional commitment method is described below and should be AVOIDED:

__ Close: Seeks agreement on relatively minor (trivial) issues associ- ated with the full order. “Do you prefer cash or charge?”

Minor-Points Close

Techniques to Earn Commitment:

__ commitment: Simply ask for the order

Direct commitment

Technique to Earn Commitment:

— /__choice: Give the prospect a limited number of choices.

Legitimate/alternative choice

Technique to Earn Commitment:

— commitment: Summarize all the confirmed benefits to which there has been agreement.

Summary commitment

Technique to Earn Commitment:

Summary close on paper.

T-account/balance sheet commitment

Technique to Earn Commitment:

Salesperson tells a story of a business that successfully solved a problem by buying his or her products

Success story commitment

What is the one thing u should never do to a driver personality type?

talk over them or try to drive them

In this type of objection, No matter what happens, they’re not going to buy your product

red light objection

What are 2 reasons u dont want to reduce the price of ur product too much

1. ppl thing its a scam / bad quality

2. Lower ur brand reputation

What is an alternative to a price reduction

Throw in some product delighters

What is a good technique to deal with time objectives

Set up future appointments when they are in a positon to purchase

“I know youre going to say theyre great computers but theyre pink. Heres why you want pink computers”

I know what youre going yo day, im going to take away ur power by saying it first

this is an example of what technique

forestall

what is the best technique to handle objections

forestall

what is the worse technique to handle objections

why should u NEVER use?

direct denial bc it creates enemies

what technique to use when ur stunned by a question and don’t know what ur gonna say?

Coming-to-that

Pros and cons lists are an example of what type of visual representation

T-account

T or F

After making a pros and cons list, Ur subconscious will tell u what the right answer is 

true

Why might someone not fall for the Success Story commitment technique

“I dont want the story of just 1 person or 1 company “

What traditional commitment method is below and should be AVOIDED:

PHONE IN NOW IN 20 MINUTES, HURRY!

Standing room-only close

What traditional commitment method is below and should be AVOIDED:

Got him to agree to a couple of small points and jumped to conclusions

Minor points close

A good sales person will listen up to __ objectives (eg cost objective) b4 they give up unless its a —- statement

12

red light

A bad sales person will listen to __(how many) objectives before they quit

2