Futrell_8ce_PPT_Ch10_final - Tagged
Chapter 10: Objections — Address Your Prospect’s Concerns
Page 1: Introduction
Overview of the chapter by Maria Vincenten.
Page 2: Main Topics
Welcome Objections!
What Are Objections?
When Do Prospects Object?
Objections and the Sales Process
Six Major Categories of Objections
Page 3: Continuation of Main Topics
Techniques for Meeting Objections.
After Meeting the Objection—What to Do?
Dealing with Difficult Customers.
Negotiating a Win–Win Outcome.
Page 4: Learning Objectives (LOs)
Understand the importance of welcoming objections.
Describe the actions to take when objections arise.
Discuss the relationship between objections and the sales process.
Identify six major categories of objections.
Learn techniques for effectively meeting objections.
Page 5: Continuation of Learning Objectives (LOs)
Outline the steps to take after addressing an objection.
Understand strategies for dealing with challenging customers.
Explain how to negotiate outcomes beneficial to both parties.
Page 6: LO1 - Welcome Objections!
Initial response to objections: SMILE; it signifies engagement by the prospect.
View objections as challenges that can benefit both you and the client.
An engaged buyer raises objections because they need clarification on how the offering meets their needs.
Page 7: What Are Objections?
Definition: Sales objections indicate resistance to information or requests from the salesperson.
Prospects who object are usually interested in your product.
Page 8: LO2 - When Do Prospects Object?
Objections can occur throughout the sales conversation:
During the approach.
During the presentation.
After a trial close.
During the close.
Importance of anticipating objections to be prepared.
Page 9: LO3 - Objections and the Sales Process
Use a trial close after the presentation to gauge the prospect’s attitude.
A trial close prompts prospects to ask further questions or voice objections.
Page 10: Responding to a Trial Close
Four potential responses:
Move to close if the response is positive.
Clarify and respond to objections, then attempt another trial close.
After addressing one objection, check for others before closing.
If the objection persists, return to your presentation.
Page 11: Strategies to Meet Objections
A salesperson should:
Plan for objections.
Anticipate and forestall objections.
Handle objections promptly.
Maintain a positive demeanor.
Actively listen.
Understand the objections fully.
Address the objections appropriately.
Page 12: Planning for Objections
Structure your presentation to anticipate objections; focus on both advantages and potential disadvantages of the offering.
Page 13: Anticipate and Forestall
Address potential concerns before they arise to minimize their impact.
Discussing objections upfront can help in re-framing them as benefits.
Page 14: Handling Objections as They Arise
Avoid postponing objection handling as this can lead to negative perceptions by prospects.
Utilize effective listening skills to understand the prospect's concerns thoroughly.
Page 15: Be Positive
Use positive nonverbal cues to enhance interaction.
Show sincere interest in addressing objections, as they are a normal part of the process.
Page 16: Listen—Hear Them Out
Give prospects space to express their concerns without interruption.
Understanding the customer's perspective is essential.
Page 17: Understanding Objections
The nature of the objection can be identified as:
Request for information.
Condition of sale.
True objection: may be found in either minor, major, practical, or psychological forms.
Page 18: Categories of Objections
True objections can be divided based on:
Minor: Quickly addressed.
Major: Requires critical resolution.
Practical: Based on facts.
Psychological: Related to personal feelings or beliefs.
Page 19: Meeting the Objection
Responding effectively depends on a thorough understanding of objections.
Page 20: LO4 - Six Major Categories of Objections
Hidden Objective: Lack of trust prevents transparency.
Stalling Objection: Time for discussion is needed to uncover true motivations.
No-Need Objection: Verify if a true need exists.
Money Objection: Discuss price vs. value and decision-making authority.
Product Objection: Clarify concerns and provide proof.
Source Objection: Loyalty to existing suppliers; focus on building trust.
Page 21: LO5 - Techniques for Meeting Objections
Use third-party testimonials.
Ask questions that reveal underlying objections.
Rephrase objections into questions to drive empathy.
Balance objections with corresponding benefits.
Create a positive spin on objections (Boomerang technique).
Postpone or dodge objections strategically without neglecting them.
Indirectly or directly deny objections as necessary.
Page 22: LO6 - After Meeting the Objection
After addressing objections, carry out a trial close and proceed based on the prospect's response.
Page 23: LO7 - Dealing with Difficult Customers
Most challenging customers include those who are picky, arrogant, or angry.
Approach difficult customers with:
Respect: Stay calm and control emotions.
Empathy: Listen attentively to understand their concerns.
Page 24: The Process for Dealing with Difficult Customers
Stop and listen.
Identify their problem calmly.
Avoid assigning blame.
Work towards a resolution.
Follow up to ensure satisfaction.
Page 25: LO8 - Negotiating a Win–Win Outcome
Aim for solutions that benefit both parties.
Maintain honesty and transparency throughout the process.
Page 26: Preparing for a Win–Win Negotiation
Reflect on goals, trades, alternatives, relationships, expectations, potential scenarios, and power dynamics before negotiations.
Page 27: Summary of Chapter
Effective objection handling steps include:
Acknowledge the buyer’s viewpoint.
Identify and clarify the concerns.
Meet the objection and proceed with a trial close.
Continually welcome and prepare for objections.