Author: mike

How to Overcome the Price Objection

by mike

Have you ever found that when someone tells you they can’t afford it, they usually mean something else?  Most of the time when we get the price objection, it usually turns out to be a smokescreen hiding another objection.

In order to determine if this is indeed a smokescreen, you first have to isolate it (not answer it!).  This is easy to do if you use this script first:

“I understand _________, and let me ask you something.  If this price fit within your budget, would you move forward with me today?”

Any answer other than yes means that price is just a smokescreen and answering it will get you nowhere.  What they usually mean is one of four things

1.) They think they can get it cheaper somewhere else.
2.) They just can’t justify spending that much for your product or service.
3.) They can’t see the value in your product or service.
4.) They don’t have the ready cash/budget to move on this today.

Once you’ve identified what is really hiding behind this objection, then you are ready to deal with it.  And here is, word for word, what you need to say to overcome it:

If they “Think they can get it cheaper somewhere else” then use:

“__________ whenever you have options, price is usually the first and easiest thing to compare.  But the problem is, in comparing price what usually gets missed is comparing apples to apples.  Tell you what I’ll do.  Go ahead and send me over the other quote (bid or offer) you have and I’ll compare it directly to what we’re offering you now.

If I find that you are truly getting a better deal, I’ll tell you so.  If I find that we can match it and even give you a better price or service then I’ll do my best to give you a better overall deal.  Either way, you’ll win – how does that sound?”

If they can’t “Justify the cost” then use:

“_________ we’re a business as well, and when we look at something, like you, we know that what we spend on our business is really an investment – not a cost.  It’s an investment of time, energy, emotion or money.  And when you look at it that way, it’s not really about the money, it’s about the return – the results.  In other words, if I invest $_____ and this much energy or time, what am I going to get in return?  You know what I’m talking about, right?

Well, let’s look at this again, and let’s stay focused on the results you’re going to get.  (Now list them one by one)  You see, this is why my other clients use us for this, and I know that it’ll make sense for you, too.  Let’s do this…”

If they, “Can’t see the value in your price”

“___________ you can always get it (your product or service) for less money.  Heck, we could do a Google search right now and I’ll bet we could come up with a few different options that are even cheaper than what you’re telling me you can get it for now.  The question is – why aren’t you going with them?  Isn’t it because there comes a time when price isn’t as important as the loss in quality, service and results?

And that’s why our clients keep doing business with us.  When you begin getting (the results of your product or service), you’ll also understand why our price is worth the value and results you get with us.  You can always get it cheaper, but you can’t get our results that pay for themselves over and over again.  Let’s do this…(suggest starting with an introductory package).”

Doesn’t really have the budget – must use credit

“ ___________ no company or business can grow unless they leverage other people’s time, effort and money – you know that to be true.  I’m not saying to go into your budget for this, rather, you need to pay for this the way you pay the other expenses of your business – with the bank’s money through a business line of credit or business credit card.  That’s how everyone makes investments to help their business grow.

Now I know you see how this (your product or service) works, right?  And I think you’d agree that by using it to (fit their solution), then like our other clients you, too, could see the results this generates, right?  Then the decision is a no-brainer here, _________.
Go ahead and move forward with this and as it (saves them money or makes them more money or leads), then you can do what all the other successful companies do and that is invest even more resources in it as your business grows.  Now, I recommend you start with our introductory package of ($____).  What is the best card for you to put that on?”

As you can see, the best way to overcome the price objection is to first make sure it’s the real objection.  After that, if you use one of these scripts to deal with what they really mean, then you’ll give yourself the best chance of closing the deal.

The One Real Key to Your Success

by mike

Every so often I feel it’s my responsibility to remind people about the single most important determinate of success, happiness and well being.  Like gravity itself, this law of being is constant; it is unchanging and completely dependable.  Every person relies on and uses this principle, consciously or unconsciously, and it never fails to deliver the exact results according to your understanding of it.

The rich, the poor, the successful, the struggling – all manner of men and women the planet over are using this law or principle of being, and it has been this way since the beginning of time.  Right now, right here as you are reading this, you are using it, too.

The exciting thing about this principle is that as soon as you truly understand and begin using it constructively with belief and expectation, you can turn your life, circumstance, your income, health, or anything else completely around.  This law can be summed up very simply:

“Everything in your life is an exact duplication of your consciousness.”

In other words, whatever images you hold in your mind, in your consciousness, will always be manifested outward as your experience.  It is the simplest of truths that you cannot hold one belief and image in your mind and manifest another.

That’s why some sales reps (the top 20%) are, and always will be, more successful than others.  That is how they believe themselves to be; it is how they see themselves, and they will always produce the exact results according to their belief.

There’s a very easy way to prove that this is so.  Ask yourself, “Isn’t it true that the results in your life, in every area, down to every detail, are an exact mirror of what you think about it all day long?”

If you’re honest, your answer is yes.  Now the question may come into your mind, “Yeah, but the reason I’m thinking about it all day long is because that’s how it is for me.  The circumstances are there (I’m not making enough money; don’t have the house/car/relationship I want, etc.) so of course that’s what I think about all the time.”

Let me ask you: “What if it was EXACTLY the other way around?”  What if your thoughts actually caused you to take repetitive actions that actually CAUSED the unwanted situations in your life to recur?

If you’re willing to consider that your thinking and beliefs might actually be the cause – rather than the results – in your life, then you are ready to finally claim the spiritual power that is the one truth that rules all of existence – that everything in your life is an exact duplication of your current consciousness.

There are books written about this power of manifestation (some call it the Law of Attraction), and it is and always will be true.  I think Dr. Robert Anthony said it best in his book, “Advanced Formula for Total Success”:

“Take all the money away from a person who is a millionaire – one who has the consciousness of a millionaire today – and within a short time he or she will be a millionaire again.  Riches start from the mind, not your pocketbook, bank account or investment.  The pocketbook, bank account and investments are the effects, not the cause.  The cause is always an idea or belief.  A person is not rich because they have money.  They have money because they are rich in consciousness.  They believe that they are rich.  Again, this is the reason that the rich will always get richer and the poor will always stay poor until they change their consciousness.”

This is why an astounding 90% of all lottery winners or people who inherit or win large sums of money end up broke and in debt – in other words, back to their original level of consciousness – in 3 years or less.  This is a concrete and measurable example of this law in action.

So, what can do you do about it?

First, stop blaming other people, companies, competition or the economy for your current circumstances.  They are not the cause; your current beliefs and repetitive thinking are and always will be the cause.

Second, make a commitment to begin treating the source – your consciousness.  You can do this by picking up and reading daily, any of the books you currently own on the power of belief, law of attraction, consciousness conditioning, and begin reminding yourself of the truth, daily.

Third, begin changing these believes and your consciousness with whatever techniques you find work for you.  There are many different ones to choose from:  You can use affirmations, meditations, becoming aware of and changing your self-talk, hypnosis sessions, prayer, practicing gratitude, or any other practice that will develop and change your consciousness.

Here are three resources I use every day that help me keep my consciousness (and attitude) right so I can remain in the top 20%:

Beyond Positive Thinking, by Dr. Robert Anthony

Find and Use Your Inner Power, by Emmet Fox (both available on Amazon.com)

Hypnosis CD’s on Success (just browse Google to find some you like)

I hope some of what you’ve read here today resonates with the truth inside of you.  If you have used your power before, then you know what I’m talking about.  Make a decision that today is the day you begin believing in and creating the life you know is possible for you.  Just remember: “If someone else can have the things in life that you want, then YOU can have it, too.”

And you will, as soon as you change the images in your consciousness.

If you found this article helpful, then you will love Mike’s bestselling book on inside sales: “The REAL Secrets of the Top 20% – How To Double Your Income Selling Over the Phone.”  You can read about it by clicking here: http://www.mrinsidesales.com/secrets_and_CD.htm

Mike Brooks, Mr. Inside Sales, works with business owners and inside sales reps nationwide teaching them the skills, strategies and techniques of top 20% performance.

He offers a FREE audio program designed to help you double your income selling over the phone, as well as an internationally acclaimed FREE ezine. If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting: http://www.MrInsideSales.com

How to Qualify Before You Send Information

by mike

In response to last week’s article on ?Just send some information,? someone wrote and asked this: ?Sometimes it takes five to seven ?touches? before someone will buy, and sending information begins that process. How do I strike a balance or know when to just cut bait and not send anything?"

I understand it’s important to build relationships and that sending information is part of a process, but that doesn’t mean you shouldn’t disqualify those who are just looking for an easy way to get you off the phone, or who are trying to blow you off.

What you must do is ask questions, like:

?I’d be happy to, what other kind of information, companies, or solutions are you looking at now?"

This tells you how many other people they have given this line to (and how many brochures they?ve collected and who your competition is), and then:

?And what do you like so far?"

This tells you about their decision process and chances are any objections or stalls they mention will be the same you’ll get when you call back as well!

?What has kept you from moving ahead with that?"

Again, this will reveal their objections (as well as some of their buying motives perhaps). They may also come right out and say why they aren’t buying anything right now (and this would obviously apply to your information or product as well!)

I’m sure you can think of some of your own questions, but the point is that before you just send your information, you’ve got to do your job and qualify!

Just Send Some Information

by mike

Of all the brush-offs, ?Just send some information? is one of the most common and deceiving of all. ?But they didn’t say no,? 80% of sales reps will say. ?Maybe after they see my information, they’ll become interested," they think.

Yeah, right. And maybe I’ll buy the winning lottery ticket today.

If your information did the selling for you, they wouldn?t need you! All they would have to do is send out information and then deposit checks, but it doesn’t work like that does it? So what to do?

Call your prospect out on this obvious attempt to blow you off! Try saying this:

?I would be happy to. Let’s say you like what you see, what would happen next?"

Or even stronger:

?I’ll be happy to. If you like what you see, will you be ready to buy at that point?"

In other words, use a trial close, and then listen and think before responding. And any answer that is not a ?yes? is a red flag, and that means you’ve got some disqualifying to do.

Just remember — the Top 20% would rather get a no now rather than take the time to mail out literature and then spend days and weeks chasing unqualified leads. And this should be your attitude, too. So use the above scripts, listen to their response, and act accordingly. Whatever you do, don’t ?just send out some information!?

5 Secrets to Exercising Authority

by mike

If you are a sales manager or business owner, then you probably know and understand that fine line between being a leader and exercising authority, and trying to fit in as part of the team and wanting people to like you. Managers struggle with this all the time, and many would be leaders lose their ability to successfully direct their teams because they are afraid of exercising this authority for fear of alienating other team members. 

The problem is that most managers and other figures of authority — Directors, V.P.’s, and Business Owners — have never been taught how to properly exercise authority and command respect as leaders. 

If you find yourself in this position, follow this proven, 5-step method for exercising authority. It will not only get results, but it will establish, or re-establish, your role as leader of your sales team or department. 

#1) Make sure your instructions are clear. Having ambiguous goals, or methods of achieving them, automatically undermines your authority and dooms many projects from the beginning. Rule #1 — be clear on the goal and the instructions on how to accomplish it. After you have delivered them, ask your team if they have any questions about what is required, so problems can be cleared up from the beginning. 

#2) Encourage people to approach you if they run into problems. Establishing open communication and feedback early on is crucial to avoid big disappointments later. Helping team members resolve problems as they arise ensures quick resolution, continued progress, and good morale. 

#3) Take action quickly when you learn of any real problems. Failing to act quickly once you learn of a problem, or putting it off for days or weeks, not only undermines your authority, but also kills morale and confidence. Problems tend to get bigger the longer they go unresolved, and your job as a leader is to solve problems not avoid them. 

#4) Insist your team report all the news — good and bad. So many companies treat bad news like the plague. Sales teams are taught to “always be positive,” but an attitude of “always be accurate and let’s find a way to succeed,” is more productive (and realistic). In meetings and one-on-ones, your goal should be to motivate as well as problem solve. Always encourage your team to report all the news. 

#5) Use crises as an opportunity to develop people. You are a leader for a reason! Rather than shy away from a crisis (a big deal lost, unexpected bad news, major delay in delivery, etc.), teach your team members how to find opportunity in crises and how to grow as professionals and as people. Focus on the skills or attitudes that are needed to overcome the situation, and work with them to develop and strengthen them. 

This 5-step method to exercising authority is powerful and will establish you as a leader and as the “Go To” person in your company. And isn’t that why you are in a position of authority to begin with? Redefine your position of leadership by using and expanding on the 5 secrets above, and involve and build your team while you lead them to greater heights.