Recruiting now
Most sales people will admit that objection handling is an area in which they can improve.
MTD Sales Training recommends using the following technique: C.I.S.
C = Clarify the objection.
I = Isolate the issue.
S = Solve the problem.
Clarify
When you are faced with an objection you should clarify it. Try not to launch into a set of rehearsed answers. Instead, slow down and make sure you know exactly what the real issue is.
Just ask - "Exactly what do you mean by that?"
You need to be able to understand the exact nature of your client's objection. For example, a client who tells you that there is ‘no budget' your may be in a position to purchase your product if you agree to raise an invoice in the following month. You could easily have assumed that budgets were spent for the whole year, but in sales you should never assume anything.
There should be no surprises when it comes to the objections that you will face and you should know when to expect them. Don't race into your answers. Allow your client to raise them in full and listen because you should always give their objections the respect they deserve.
Isolate
Having clarified an objection you then need to isolate it. Rather than launching into a well rehearsed answer, you should isolate the objection with a question such as
"I see what you mean Peter. Is that the only thing that is holding us back?"
By asking this question you will ensure that it is the only objection you will have to deal with and this will allow you to concentrate on providing your client with what he needs.
MTD Sales Training Example
If your client mentions that your product or service is much more expensive than your competitors then one way to isolate this objection and to identify any other problems is to ask something like this:
"If all prices were the same which option would you go with?"
This will get you the answer you need!
Then, you need to solve the problem. Let's look at a couple of common problems and some generic solutions:
Your client objects on price and says something like:
"Well, it looks good, but we can't afford that amount right now. Come back in a month or two and maybe we could handle it."
At this point you should clarify the objection. Find out exactly what the client means:
"I'm not sure if I understand Peter...is it the overall price? The down payment you need right now? Or the timing? Is that the problem?"
"Well, it's really the down payment. I didn't budget for something like that this month."
Now you have clarified the issue and it is time to isolate it:
"So, if we could somehow get around this or lower the initial investment, we could put this order in place? I mean is that the only thing that is stopping us from moving forward?"
"Ah, well, yes. I just don't have that amount right now."
Ok, you have isolated the problem and now it is time to solve it!
"Well, I appreciate your honesty Brian. Here's what we can do. We'll spread half of your initial investment evenly over your next few monthly statements, so all you need today is £500 instead of £2500..."
Here is another example where a prospect objects that they already a supplier. You may have assumed that you handled this completely during the sales interaction, but here it comes again:
"Like I said, I have been working with XYZ agency for many years. I don't want to just walk away from them."
Clarify this objection:
"Can you explain a little more on exactly what you mean by that?"
"Well, I have been a loyal customer and they have been doing a good job for years - it doesn't feel right to just cancel without notice."
"Okay, I think I understand. Are you saying that it is not that our firm can offer better service or better rates, but rather that you don't want to feel as though you just left without giving XYZ a fair chance? Is that it?"
"Ah, yeah, I guess you can say that."
Next, isolate the objection.
"So, Peter, is that the only reason stopping us from going ahead. I mean, are you comfortable with our offer and our rates?"
Then solve the problem
"I understand completely. How about this? Let's place this small order with me today - just to get us started. Then, give your XYZ rep a call. Let them know that you're giving us a try with something very small. Tell them that we are offering to give you two more deliveries a month and that we will sharpen your tools for free for life and let them know that we are going to give you a free online ordering system.
Now, Peter, if XYZ decides to come up to the level of service that we offer-then by all means, I think they deserve to keep your business. However, if they do not or will not meet our level of excellence, then you did your job by giving them a chance and I would think that I would have earned some of your business. Wouldn't you agree?"
You will improve your objection handling by using the following system:
Clarify - the objection; Isolate the issue; then Solve the problem.
This article was written by Sean McPheat, who is regarded as The UK's #1 Authority On Modern Day Selling. Click here to find out more about Sean and to get hold of some more sales tips.