Sunday, August 25, 2013

Objections Sales Workshop Highlights - Part 2

Welcome to Part 2 of highlights from the Erie Sales Club's Aug. 14 sales workshop on objections. (Click here for 5 additional key points of advice from the workshop.) A group of nearly 30 professionals from the Erie area participated in the 90-minute workshop which featured expert panelists Jay Fritzke of Employee Insights, Dan "The Real Estate Man" Omniewski of Marsha Marsh Real Estate, and Derek Van Slyke of Jameson Publishing.

Here are 5 additional important points of advice from the workshop:

6. Make it your goal to embrace objections -- as opposed to the natural reaction to quickly defend yourself against the objection, which only strains the relationship. Train yourself to make your first reaction be to thank your customer for sharing; then go to work to understand why they have that objection.

7. The process to manage any objection is RIPO: Restate, Isolate, Probe To Understand, Overcome. Give your customer a chance to clarify by repeating their words. When they say "I don't have budget," did that mean they don't have any budget whatsoever or they don't have a budget for you?

8. Your discussion on objections should be sincere. If the truth is your product/service isn't the right fit for the customer, that's fine. Treat them like they are a family member. Would you recommend they buy or not buy from you? Help them make an accurate decision.

9. Be prepared to overcome objections. Know potential pain points up front and be prepared to share that data with the prospect. Data could include industry statistics and success stories of your customers who were in a similar situation.

10. With most budget objections, there's a good chance the buyer hasn't "done the math," so by all means do the math with them. Help them see the cost/benefit of either moving forward or not. Even if it's not calculable, describe in detail both alternatives. Help them see the risks of doing nothing -- give them all the facts.

The Erie Sales Club is a joint effort of four leading local businesses: Jameson Publishing, Marsha Marsh Real Estate Services, VertMarkets, and Howland Peterson Consulting.