Gaby Awad - “Buying Customers"
My name is Gaby Awad AKA The Coach on Wheels (you have to watch my YouTube channel to know why 😉), and I am your host for the BUYING CUSTOMERS radio show 🔥🔥🔥
It would be awesome if I could hear from you in real time during the show. If you’re listening live or to one of the recordings, you can always connect and interact with us on Facebook, Instagram, LinkedIn and Twitter at IBGRNetwork.
Every prospect you speak to has sales objections or reasons they're hesitant to buy your product. Sales objections are bound to happen and they are unavoidable.
Objection handling is when a prospect presents a concern about the product/service you are selling, and you respond in a way that alleviates those concerns and allows the sale to move forward. Objections are usually around price, product fit, competitors, not the time, or the good old “no perceived value YET!”.
When can you guarantee objections? Well, when:
The best way to overcome objections is being prepared.
“If we move the delivery date your crew will be available and you can stay on schedule, is that correct?”
Resist the temptation to go back to the one you already resolved.
“It sounds like changing the delivery date will make this work for you. Let’s get this order placed today to ensure prompt delivery?”
Learn to love objections because an objection is the beginning of the sale.
There’s a reason for EVERY objection and finding that reason is that first step to beating an objection.
Listen carefully to the objection being raised
If you believe it’s a stall try these questions:
STALL VS. OBJECTION
What is the difference?
A stall is a delay tactic… A stall is “I want to think about it” or “I need to meet with other people”
An objection is “your price is too high” or “we somebody else supplying us”
Both are put-offs saying: “You haven’t sold me yet”. Maybe they perceive too high risk.
Maybe they think they can get it cheaper someplace else. Maybe they don’t have enough confidence in you to go forward or maybe they are not the decision maker…
Whatever it is, you haven’t proven enough value yet… Remember our last episode “Value First in Sales?” You can go back and listen to the recorded podcast on apple, google, or amazon podcasts.
Stalls are harder to convert than objections but both are saying “you haven’t sold me YET!
The secret is simple: PROVE VALUE AND PROVE DIFFERENTIATION.
If you can anticipate objections, you can prevent them from occurring… The thing is there are no new objections… you’ve heard them all before.
In whatever business you’re in, there are 5 to 10 reasons why customers won’t buy from you.
The cure is: PREVENTION. Prevent objections by discussing them before the prospect has a chance to voice them.
WHAT ARE THE TOOLS FOR OBJECTION PREVENTION?
The first tool I call “Similar Situations”… You know… stories about similar customers with similar objections who bought in spite of the objection.
Testimonial letters or videos
Something that goes along: “I thought the price was too high but after a year of lower maintenance cost I realized the overall cost was actually 20% lower than…thank you for talking me into it”
A story or article about your product or company to build support, credibility and confidence.
A comparison charts where you compare the competition apples to apples and use it when the prospect says they want to shop around.
Say, “My experience has shown… ” This is one of the most powerful lead-ins in preventing objections
Say, “I listened to our customers. They had a concern about X… Here’s what I did…”
Prepare yourself… You know objections are coming. You’ve heard it before… Be ready with questions, answers, and ideas when they arrive.
If you can overcome and objection in your presentation before the prospect raises it, you are more likely to make the sale…
ANTICIPATION = PREVENTION
It just takes preparation and practice. It takes time, creativity and focus to make the sale happen.
Prepare by anticipating objections to your presentation… Data and testimonials are great objection preventers.
WHAT ARE THE COMMON OBJECTIONS?
I want to think it over
I want to check with more suppliers
Your price is too high
I want to talk it over with my partner
I am satisfied with my present supplier
We spent our entire budget for the year
Get back to me in six months
Sometimes they are true but the key is in:
Your knowledge in your product
Your knowledge in your prospect
The relationship you have with your prospect
Your sincere desire to help your prospect, and
None of these have to do with price… some of these may relate to cost… all of these have to do with value.
Zig Ziglar said:
Do you know your objections?
Are you prepared to tackle them?
Consider this exercise with your team:
What are the strategies you would use? What are the tools you already have or the tools you need to develop? Things like sales scripts, questions, to ask, testimonials, comparison charts, etc.
Identify the gap of missing tools and strategies and put an action plan to develop those with your team.
Prevent objections by discussing them internally before the prospect has a chance to voice them… Prevention is the best medicine
What NOT to do when handling objections?
Do not argue: Being defensive or sarcastic will not win any new customers.
Never tell the customer that they are wrong: Even when people are wrong, avoid pointing it out. Say something like, “Did you know….”
Do not accuse the customer of not understanding something: Make sure that your questions are not insulting. Ask for clarification rather than insulting a prospect’s intelligence.
It may seem counterintuitive, but sometimes the best way to make a sale is to agree with the customer’s objections. By agreeing, you show the customer that you are listening and understand why he or she believes something as an objection. Take the price objection for example. Rather than simply saying that the prices are high, explain why.
“Yes, we do seem to be a little more expensive than some other companies, but we only use the highest quality material to create our products. We also offer a longer than average warranty, and customer support after the purchase with that price. Many organizations have an additional charge for customer support.”
Not every objection is voiced. There are also hidden or unvoiced objections. How to deal with those?
Prospects will provide clues to the real reason for the objection if you pay attention. Developing a relationship, communicating with clients, and asking intelligent questions will indicate if there are any unvoiced objections. Simply probe the client once you have developed a rapport, if you feel that he or she is holding back.
Probing Questions could go as simple as:
It is important to gently probe throughout the conversation until you are sure you have addressed every objection.
There are five basic steps to handle all sales objections. Follow the basic steps to deal with objections and develop a strong working relationship with prospects.
The more value you provide, the less price matters and the less the other objections are important. It’s like the domino effect.
Put yourself in front of people who can say YES and deliver value FIRST to them
Value is in your customers’ perception…
Your action plan is the following:
Remember the importance of working ON the business and not just IN it. Well being prepared for all possible objections is a time well spent working ON the business.
Written by Gaby Awad
As a Business and Executive Coach, Gaby helps business owners, leaders, and teams grow and achieve their goals through alignment, business re-education, coaching, and mentoring. He has more than 25 years of experience in executive positions and transforming businesses.
Currently he is the Franchise Owner of ActionCOACH in Lebanon and in this position he also coaches Business Owners, CEOs and other top level executives. Gaby hold international accreditations as certified coach from ActionCOACH, Marshall Goldsmith, The John Maxwell Team, and Jeffrey Gitomer Sales Academy. Gaby is also the founder of Good Session Coaching, an online learning platform for executives and business professionals where leaders can go through self-paced learning.
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