© 2009 The McGraw-Hill Companies, Inc. All rights reserved.

© 2009 The McGraw-Hill Companies, Inc. All rights reserved.

Homework for Tues, March 30

Respond to this Objection:“I can’t hire you. You’re too young.”

Use an example of each of these methods:A. Compensation MethodB. Referral MethodC. Revisit Method

11-2McGraw-Hill/Irwin

© 2009 The McGraw-Hill Companies, Inc. All rights reserved.

{Review} Common Objections

Objections related to needs

Objections to the product

Objections to you and your company

Price Objections

Objections related to time

Other Objections

11-3McGraw-Hill/Irwin

Anticipate objections– Prepare helpful responses

Forestall known concerns– Raise objections before

buyers have a chanceto raise them

– Very important inwritten proposals

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Behaviors of Successful Salespeople

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ForestallPrevent by doing something ahead of time.

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• Gandhi clip

No perfect method

Spend your time on a prospect as carefully as your money

Probing method

Avoid Blunders in Responding:– Understand the question– Answers the right question– Fully answer the objection

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Effective Response Methods

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11-7McGraw-Hill/Irwin

Probe first Understand the Objection and Whether Buyer is really concerned about it

If Objection is NOT true, use Direct Denial, or Indirect Denial

If Objection IS true, use Compensation Referral Revisit Acknowledge, or Postpone

Price Objections

Objections related to time

Other Objections

Common Methods for Responding to Objections

Direct denial– Make a relatively strong statement to point out

the prospect’s error – Appropriate ONLY when the objection is

blatantly inaccurate– Should not be used if the prospect is merely

stating an Opinion

Indirect denial– Deny the Objection and soften the response– Recognize the customer’s position – Introduce contradicting evidence

11-8

Effective Response Methods

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© 2009 The McGraw-Hill Companies, Inc. All rights reserved.

Effective Response Methods (continued)

Compensation method (AKA “Superior Benefit Method)– Objection: “Product is less than perfect”– Acknowledge objections => show the

compensating advantages– Also use when prospect tries to put off

closing

Referral method– Feel-Felt-Found

11-9McGraw-Hill/Irwin

Revisit method– Turn the Objection into a Benefit– Be careful with it– Effective with most personality types

Acknowledge method– Buyer venting frustration– Listen, Acknowledge, Pause, Move on– Never use when the objection is factually false

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Effective Response Methods (continued)

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© 2009 The McGraw-Hill Companies, Inc. All rights reserved.

Effective Response Methods (continued)

Postpone method1.Objections that you want to answer later –

especially early Price Objections

2.Ask permission to answer the question later

Using the methods1.Combine methods

2.Several methods can be

used in one answer

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The most frequently mentioned

Never lower the price as a first response

When faced with a price objection:1. Use up-to-date information

2. Establish the VALUE, using communication tools effectively

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The Price Objection

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1. Responding to Objections is a Key part of the Saleperson’s job

2. Successful people prepare effective responses to anticipated concerns

3. Objections come from a host of areas

4. The methods we’ve reviewed have been tested in the field and proven to work

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Summary

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