 Price
Objections - How to Eliminate Them & Close Sales
By Kelley Robertson of Robertson Training Group
Virtually every person in sales experiences price objections. Unfortunately, the majority
of sales people take the wrong approach and try to box customers into a corner. For
instance, perhaps you have heard a sales person ask, “If I can do that price, do we
have deal?” Sometimes they probe a little deeper and ask, “Is that the only
thing holding you back?” A sales person can come across as desperate when they pose
this question: “What do I need to do to earn your business?” High-pressure sales
people often go out on a long limb by proposing something like, “If I can offer a
solution, would you be willing to buy today?” or “What do I have to do to get
you into that unit?”
The real key to solving objections is to work at eliminating them
altogether. You can accomplish this by investing more time qualifying your customer.
Salespeople who ask more questions generally face fewer objections during the selling
process. The reason is simple…they uncover potential objections early in the sales
cycle.
Questions that will help you uncover potential objections include:
“Who else is involved in this decision?”
The purpose of this question is to establish who else has input in the decision making
process. If someone else has influence on the final decision you may end up spinning your
wheels trying to close the sale without one of the key decision makers present.
“What time frame are you working with?”
This question is much more effective than asking, “When were you looking to
buy?” which can put people on the defensive.
“Who else are you talking to?” This helps
you understand what other vendors or companies are bidding on the project. This can assist
you in differentiating yourself from your competitors.
“What was your experience with…?”
Based on the customer’s previous experience(s) you can now position your product or
service to exceed their experience of your competitor.
These questions will draw out information from your customer. This
information then allows you to position your product or service in a manner that best
suits the customer’s needs and wants.
I have had many salespeople in my workshops question this line of
thinking and approach with objections such as: “Asking all these questions takes too
long.” “People won’t give me the answers I’m looking for.”
“I’ve tried this and it doesn’t work.” “I’ve been given a
script to use for every objection so I don’t need to do this.” Or, “My
customers care only about price so it doesn’t matter what questions I ask.” I
certainly understand and appreciate each of these objections because they are valid. Here
are my responses:
“Asking all these questions takes too long.”
You’re right, qualifying DOES take time. However, proportionately speaking, it takes
less time to ask these questions than it does to overcome an objection because a customer
is less defensive. Many salespeople actually spend more time trying to overcome objections
than they would have asking questions.
“People won’t give me the answers I’m
looking for.” People will tell you anything you want to know providing
you give them a good enough reason. Once you establish a safe, comfortable environment
customers will open up and tell you things you never dreamed of. Your goal is to ask
questions in a non-threatening manner, to listen to their responses, and to help them
relax and feel comfortable.
“I’ve tried this approach and it doesn’t
work.” I won’t dispute the fact that some salespeople have a
difficult time applying this concept. In fact, many actually experience a decline in sales
when they first try to implement this concept. I suggest that you keep practicing until
you become comfortable asking questions such as these. Once you become relaxed your
customers will also become more comfortable and this will result in more sales.
“I’ve been given a script to use for every objection so
I don’t need to do this.” Many businesses give scripts to their
sales staff. However, this approach seldom addresses the real concern a customer has and
can sometimes offend them.
“My customers care only about price so it doesn’t
matter what questions I ask.” This is not an uncommon perception among
salespeople. However, this perception may be incorrect. Although price is a factor in
virtually every sale it is seldom the primary issue. Many people look for overall value,
not price. When you ask them quality questions, you begin to differentiate yourself from
your competitors. Once you begin separating yourself from other similar businesses, you
give people a reason to focus on issues other than price.
Asking questions such as these will help you prevent some objections
from arising. The goal is to learn enough about your customer’s situation to present
a product/service that fits his or her needs and want so closely that you give them a
compelling reason to buy from you, today, at your price.
Kelley Robertson, of the Robertson Training Group, is a
professional speaker & trainer on sales, negotiating, sales management & employee
motivation. Receive a FREE copy of “100 Ways to Increase Your Sales” by
subscribing to his 59-Second Tip, a free e-zine at www.KelleyRobertson.com
Kelley may also be reached at 905.633.7750. |
