Hi, it’s Mike here from M Business and Marketing Solutions. Join me now for Mike’s Marketing Minutes.
For this week we’re going to talk about Objection Handling.
What are the objections? What type of objections are there? And how do we handle them?
Continue with me to learn more about how to handle objections.
Let us move forward…
How do you handle objection within a sale?
If you are in the sales industry, you must be prepared to face some objections.
There probably came a time wherein a customer objected your sale speech and you are left wondering what has gone wrong. Here are three types of these objections:
- First Objection: The person is just not interested. End of the story. This happens 5% of the time.
- Second Objection: You weren’t able to give them enough reason to make a decision.
- Third Objection: A buying signal. They’re actually interested and just want you to give them more information about what you’re selling them.
Upon trying to sell you might get answers such as:
- “I want to think about it”
- “No” (flat as that)
- “Just give me brochures”
- “I’ll check it with my partner first”
- “I’ll just need to check it over”
These can all be eliminated if you can correct your way. Often times, objections are actually a way of saying they’re sort of ready to go for it but needs a little more push.
Once you receive an objection, don’t lose hope too early. You can butt-in a turn-around statement. For example, if the customer objected with “I’ll think about it” – throw in questions like “What is it you want to think about?” or “Is there anything specific you want? Maybe I can help you.”
You might get the answers you weren’t expecting and turn things around. You can give them further reasons, benefits, and features of the product you are selling. With asking questions, you are giving them the things they might be considering. Don’t hesitate to ask because you’ll never know if you might tap on the things in your customer’s mind and identify what they want.
Turn-around statements can go on like…
“Well, let me show you a way to get a cost-effective in that area”
“How about this one, this might be of your interest”
“I understand your dilemma, Let me show you our other payment options”
These are just a few of the turn-around statements you can counteract to an objection. With these, you might close a deal.
There’s another technique to flip your situation aside from the turn-around statements. It is called Feel-Felt-Found. This is an old school selling 101. Here’s the example of a feel-felt-found statement.
- “I understand how you feel but what we’ve found–”
- “Look, I understand how you feel, other customers have told us that too before, they’ve felt that–”
These are just a few. You have to make the customer feel that they are heard and acknowledge. You got to give them that feeling that they matter and their issues are important to you. In feel-felt-found technique, your key areas are – Auditory (what you are hearing), Sight (what you are seeing), and Feel (what you are feeling).
After your feel-felt-found statement, you can start using your product in the story. You can emphasise your product’s features and what are the good things others say about it. Enlighten them about the good stuff.
Mixing up this technique is okay. You can take the following examples:
- “I hear what you are saying, others have told us that before and we’ve found that– ”
- “I see where you are coming from, but other customers have picked this one because– ”
- “Another person has also pointed that out to me but what I found is this– “
After this, you can back over your selling pitch.
Keep in mind to believe in your product and being knowledgeable in every part of what you are selling. Take note of the key features of your products and services. Believe that it is the best among the others. Confidence can be your best bud.
Build rapport with your clients can return you the favour. Once you gain a person’s trust, you got yourself a sure buyer.
Hopefully, you have enjoyed our topic today! Object handling is a tough topic but if you know your techniques to use, it’ll be easy for you. Don’t worry, because there’s more to come on this one. I’ll be sharing some closing techniques in our next meet.
Just keep in mind that when dealing with objections, listening is important. Listen to what your customer is telling you. Let them matter.
Bye for now!
Talk to you soon!