You just crossed the finish line and got the checkered flag. This was the best presentation you have ever given. The prospects were engaged, their eyes lit up when you shared all the benefits, and you know the close is in the bag. And as you pull out the pen and turn the agreement around for them to sign, they lean back and say, “I have a few questions”, but what you hear is “I have some objections.” So what do you do?
- Don’t see an objection see a question. Although the objection might sound like a verbal attack on what you just shared, brush it off and rephrase what they just said back as a question. If their objection was phrased as a question, then provide a direct answer by sharing the benefits you will provide them.
- Turn their objections into reasons for buying. One common objection in any sales situation is “The price is high, or why is your prices so high?” Don’t back away from this objection, instead share confidently that at times higher prices is a sure sign of higher value! And if you have done your homework or are observing your prospect, you can use something you have observed they already value and use that as an example.
- Reveal hidden objections. Be bold and ask, “do you have any other concerns, we have not covered”? If there is a common objection you have heard in the past, and your prospect hasn’t brought it up, then share it and the answer. And if you see your prospect has real concerns and is digging to get the answers before making an informed decision, look them straight in the eye and ask “if I am able to answer all your concerns today and show you the value of doing business with me, can I earn your business today?”
- Stop the objections before they are raised. I have learned that asking the right questions from the beginning of my presentation can eliminate objections before they are raised. One very important question is to confirm that you are talking to the right person. I often ask “is there anyone else who you will want to talk with before making your final decision?” If they say yes, then I stop and we schedule a time for all the decision makers to be present for the presentation. Remember your time is your most important asset, and you can’t get it back!
- Reach an agreement. Empathize; never sympathize with your prospects. When you prospect raises an objection like your prices, then don’t act as if this is the first time you have heard the objection. Respond with complete understanding “Yes I hear that often, and you are right my prices are somewhat higher. However, with us you will get the following added value, that I have not found with the majority of our competitors.”
- Never hype your product or service over the objection. There is no such thing as a perfect product or service. Even with purpose driven companies, there are times when their products will fall short. Don’t try and prove your prospect wrong when they raise a solid issue, admit it, share what the company has done to fix it, and how their input as a new client will help them deliver better products and services in the future. Remember trust is the key to a successful close.
Although there are many more you may write down as you build your home-based or small business, these six should get you rolling.