Tag: Overcoming Objections

So many times our prospects aren’t really interested, but they either don’t know how or won’t come out and tell us.  Instead they will say things like, “Go ahead and send me the (information, brochure, demo) and I’ll take a look.” Or, “Put that quote in writing and send it to me.”

When a Top 20% closer hears this, his/her first thought is, “I don’t have the time to do that, and I especially don’t have the time to follow up with an unqualified lead.”

Here’s how they handle it and how you should, too:

Put off #1: “Go ahead and send me your information.”

Your response: ” I be happy to, and if you like what you see would you be ready to place an order?”

OR,

“Before I do, I want to make sure you’d be ready to act on it if you like it.  Let me ask you…(qualifying questions on budget, decision-making process, etc.”

OR,

“Sure, and after you review it, how soon are you going to make a decision on it?”

OR,

“And what would you need to see to say yes to it?”

Put off No. 2: “Put that quote in writing and send it to me.”

Your response: “I’d be happy to, and from what we’ve just discussed, does it sound like you’d go with it?”

OR,

“Absolutely.  How does this compare with the other quotes you’ve received so far?”

OR,

“Great.  Based on the quote/price I just gave you does this sound like it fits your budget?”

OR,

“Be happy to, and after you get it, what happens next?”

Bottom line — the Top 20% don’t have the time for the brush off game.  They’d rather know up front if the prospect were doing it or not.

And wouldn’t you?

One of the oldest and most used smokescreens in the book is the, “I need to think about it” objection. So many sales reps struggle with this one because they think the prospect isn’t saying no, and so they don’t know how to respond to it.

Unfortunately, what many of you have found out is that your prospect actually is saying no – they’re just saying it in a way that makes it difficult for you to handle it. Well that will end for you today. By using the scripts below, you’ll see if you’re prospect really does need to think about it, or if he/she is blowing you off. Believe me, you want to know now so you can save yourself weeks of chasing and begging a deal that will never close.

Response #1:
“_________, whenever I tell someone I need to think about it, I usually mean one of three things: 1 – I’m not going to be a deal for whatever reason and I just want to get them off the phone, 2 – I kind of like the idea but I’m going to have to find the money or talk to my partner, or something else is holding me back, and 3 – I really like the idea and I just have to move something around before I say yes.

Be honest with me; which one of those things is it for you right now?”

Response #2:
“__________, I may have given you too much information on the warranty (or pick another part of your product or service here), is that what you need to think about?”
(Now use your mute button and let them tell you what they are going to really think about)

Response #3:
“You know _________, if this isn’t for you, I’d rather have a no right now – believe me, you won’t hurt my feelings. Is that where you’re leaning right now?
(It is always better to get this objection out of them early.)

Response #4:
“__________, let’s face it – you’ve already been thinking about this for a long time. You know you have to make a change or nothing else will change with (your operating system, your results, etc.). Thinking about it more won’t fix things for you – only making a decision will. You like this; you’ve already told me it would work for you. So let’s do this – go ahead and put me/this solution to work for you now and if you change your mind later you will still get the benefit that you’ve acknowledged you need. Here’s what we need to do to get you started…”

Response #5:
“__________, the only thing more costly than making a bad decision is not making one at all. If you don’t change things then things won’t get better for you. Now, you’ve already admitted that this has the best chance to make a positive impact in your production, right?

Then do what my other clients do and put me and my company to work for you. Once you see the positive results we both know are possible here, you’ll be back to expand our coverage for you. And that’s going to be a win/win for us both, isn’t it?

Then here’s what we need to do…”

Response #6:
“___________, since we both agree this has a great chance to work for you, let me do this. While we’re on the phone right now, I’m going to email you three customer testimonials – companies just like yours who were hesitant as well – and when you read about how successful they were with us, I’ll put together an introductory offer that you won’t be able to pass up. Once you see for yourself how this works, then we can talk about further involvement, is that fair?”

Response #7:
“__________, what I’m hearing from you is essentially a no – and that’s alright. As a sales rep, I hear that all the time and it doesn’t bother me. It just means I haven’t yet explained the value proposition right. Tell me, what would it take to convince you that this would be a good idea to move forward with – and please be honest with me.”

These scripts were taken from my Brand New Book of Phone Scripts due out in about 6 weeks. These are seven out of ten in the book (there are 20+ NEW scripts on how to handle the money objection alone! You’ll want to pick up a copy as soon as it’s released, so stand by…)

In the meantime, enjoy these and send me an email, or leave a comment below and let me know how they work for you!!

Have you ever answered an objection from a prospect only to be given another one that was completely unrelated to the first one? And then after you battled your way through that one, you got another, then another?

If you’ve been in sales any length of time then I’m sure you have. And if you still don’t know how to handle and even avoid that, then I know you’re hating life – until now! That’s because I’m going to teach you a simple technique that will enable you to avoid that common trap 80% of your competition fall into.  And here’s what you do:

STOP ANSWERING OBJECTIONS!

I know that may sound absurd at first, so let me explain.  When someone gives you an objection, they are almost always hiding the REAL reason they aren’t moving forward with you. For example, if they tell you the price is too high what they often really mean is that they can get it cheaper with their current supplier, or they aren’t really in the market right now and they’re just shopping around for next quarter, or they have already decided who they’re going to use and they just needed 5 RFP’s to comply with their process.

Answering the price objection at this point means that you are just falling for their smokescreen which is why you get another objection, and then another.  If you’re sick and tired of losing control of the sale and you want to know if your prospect is real or not, then you must Question and Isolate objections you get BEFORE you answer them.

Here’s how you do it:

If your prospect tells you your price is too high, simply ask:

“I understand ___________, and let me ask you – if our price was right where you were comfortable spending, would you place your order with me today?”

Any answer other than yes means that price is not the objection.  Answering it will get you nowhere.  If, however, they say yes, then you get to negotiate on the price and find a way to close the deal.

Questioning and isolating objections is the only way you’re going to avoid smokescreens and close more sales.  It’s a Top 20% technique, and once you begin using it you’ll be amazed at what your prospects tell you.  For starters, they will reveal their real objections, and you’ll know immediately whether or not you can close the sale.

The good news about insurance sales – like all other sales – is that the set of objections and put offs you face is essentially the same.  In other words, day after day, in presenting your products and services, your prospects probably come up the same old objections they’ve been using for years.  Things like, “I’m happy with who I work with now”, and “Why change what I have already?” etc.  Because of this, you have a distinct advantage if, and this is a big if, you have taken the time to prepare in advance for these objections and then have practiced your responses so they sound easy, natural and convincing.

Below you’ll find three rebuttals to the most common objections you get when closing on your insurance products.  Remember, take the time to reword or rework them to fit your specific services or selling style, but after you do the key is to use them.

By the way, if you sell something besides insurance, there’s something in here for you, too.  How often do you here the “I’m happy with who I work with now,” or “Why should I change?” when trying to close on your products or services?

You see, objections are objections are objections.  Prospects and clients have been using the same ones for years because they work to blow off 80% of your competition.  But once you start using these rebuttals, you’ll find a way to get past them and present your products and services.

So, adapt, use and become more successful using these rebuttals:

Objection #1: “I’m happy with who I work with now”
“I’m glad to hear that __________, and I’m not here to come between the relationship you have with your current broker.  Instead, I’m only interested in making sure you have access to the best new vehicles to fit where you are in your life now.  You see, the issue with most insurance is that people tend to buy it and forget about it.  And the problem with that is that life, situations and responsibilities change and in most cases the insurance coverage gets neglected.

Let me ask you this:  When was the last time you had someone look at your existing coverage and compare it to what’s now available based on where you are in your life today?   Well here’s what I’m prepared to do for you – I’ll compare your current coverage and your current needs with what’s available today, and if you have the best coverage at the best rates, then I’ll tell you so.  And if I have a better vehicle at a better rate, and it makes sense to you, then you can decide what to do.  Either way you’ll win.  Is that fair enough?”

Objection #2: “It won’t happen to me”
“__________, when was the last time you totaled your car?  (usually never).  But you still have it insured for that loss, don’t you?  You see, that’s the thing about insurance – we buy it to protect us in advance in case something happens that we couldn’t afford to cover.  If we never use it, we’re grateful, and if we have to use it, we’re thankful.  Either way, insurance gives us both protection and peace of mind.

Now _________, if (the situation that you’re insuring for now) did happen, how happy are you going to be that you have coverage for it?  (probe here – “How would that affect your wife?  What would that give her in terms of time with the kids, etc?”)

_________ the little bit of premium you pay now provides you and your family (or business)  with a great deal of comfort and security.  It’s the right thing to do and I think you know it.  Let me ask you this: What kind of (monthly/quarterly) payments are you trying to stay within – perhaps I can adjust your policy or length of term to make this work for you…”

Objection #3: “Why change what I have?”
“I’m not saying you should change, and it may not make sense for you to change – that’s why I need to do some work for you to see if I can help you.  You see _________, most brokers write an insurance policy for their clients and then they’re off to make the next sale.  What they don’t do is what is perhaps the most important part of all – continue to assess their client’s changing needs and match them up with a newer vehicle that would get them more appropriate coverage – perhaps for even less money.

And that’s what I’m here to do for you today.  Let’s do this:  I’ll take a look at what you’ve currently got in terms of coverage and premium, and I’ll compare it to what your needs are today.  I’ll then review what is available to you and if there’s a better fit for you I’ll let you know about it.  If not, then I’ll let you know that as well.  In the end you get to decide what’s best for you.  Is that fair?”

Regardless of your industry, learning these rebuttals and preparing for the conversation before it happens is what is going to set you apart into the top 20%.

Did you enjoy this article? Please let me know your thoughts in the comments section below.

If you’re like most sales reps, you hate to get objections. Your stomach aches, your palms start to sweat, and you can literally see your commissions fly out the window.

And, if you’re like most sales reps, when you begin dealing with objections one of two things happen:

1) After you answer them, your prospect gives you another, then another objection and you go on the defensive…or

2) In answering the objection you tend to talk past the close, and you actually INTRODUCE more questions or objections! Now that’s a sick feeling, isn’t it?

Want an easier way to deal with the objections you get over and over again? Here’s how to do it:

First, learn to listen. Don’t be so quick to interrupt your prospect because often times the way to overcome their objection is actually in the objection itself…

Second, if you don’t know how to respond to their objection, or don’t even understand what the objection is (which is the case for 80% of sales reps), ask for clarification. An effective technique is:

“Hum… I’m not sure I follow you, what exactly do you mean?”

This is a great technique because in restating their objection, many times prospects will either give you the answers you need, or sometimes they’ll even explain away their objection.

Third, after your prospect has clarified their objection and you fully understand what it is, you should always isolate it before answering it! Again, you must be patient and give your prospect every opportunity to help you deal with their objection.

Let’s use “The Price is too high” objection since it’s the most common. Most sales reps have been taught to build value to justify their price, or drop close to a lesser amount, or try to negotiate in some other way. While these techniques are valuable tools, they should only be used after you isolate the objection. Here’s what you say:

“I understand __________, and let’s put the price aside for a moment and make sure this (product or service) is something that will work for you. Let me ask you, if price weren’t an issue here, in other words, if this fit in with what you were willing to pay, would you go ahead and put me and my company to work for you?”

This one technique is the most powerful closing tool you’ll ever use in dealing with objections. Sadly, it’s used less than 10% of the time, and that’s the reason I keep getting emails asking me what the best way of dealing with objections is.  My suggestion to you today is to incorporate these two techniques and to see for yourself how much easier objection handling becomes for you.

Did you enjoy this article? Please let me know your thoughts in the comments section below.

Let’s face it — today’s business world is competitive.  Besides the normal objections you get (no money, price to high, need to talk to, etc.) a common objection that blows out 80% of your competition is, “I can get a better deal elsewhere.” This frustrates a lot of sales reps and takes thousands of dollars of commission out of their pockets.

The top 20% also get this objection but are prepared for it and know how to overcome it.  Here’s what they do:

First, they recognize that if someone says that they can get a better deal elsewhere, it means one of three things:

1 — They’re wrong (in other words, they think they are getting the same thing you’re offering, but they’re not).

2 — They’re just putting you off and using this objection as a smokescreen

3 — They really can get a better deal.

In order to find out what your prospect means, offer to help them determine if they really are getting a better deal by questioning and comparing every component of it.  Use this script:

“ __________ my customers tell me this all the time, and sometimes they genuinely can get a better deal, but a lot of times they can’t.  I’ll tell you what I’ll do.  I’ll go over each item you’ve been quoted by this other company, in other words we will compare apples to apples, and if everything is equal I’ll see if I can do even better on that.  If I can, you’ll get an even better deal and if I can’t, I’ll tell you so.  Either way, you’ll win.  Now, do you have that other quote in front of you?”

Then simply go over each item to make sure everything is equal.  Often times it’s not and you can point this out.  And if it is, you still have a chance to win the deal.  If they do have a better deal, then build the value of having you as their sales rep and try to close the sale anyway. Either way, you’ll win.

Please feel free to comment on this article in the comment box below.

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.

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!?