We all encounter the stalls that prospects throw up as objections for a variety of reasons. Here are five very common stalls.
∑ I Tried a Similar Product Before and It Didn't Work
∑ Your Product is Too Expensive
∑ I’m Not Ready Yet
∑ I have No Budget for It
∑ We'll Need to Bring This to a Committee
These all tend to be standard brush offs that prospects will use to derail a sales reps and quickly dispose of them.
Implications to the Sales Person
Stalls are a prospect’s way of putting the brakes on the entire process. You need to determine why these issues have arisen and why they weren’t discovered during the qualification phase. One of the problems many sales people create for themselves is they gather information and then ignore what they have learned as they enter into their canned sales presentation. Selling solutions must be crafted to meet the specific needs and concerns of the prospect.
Listen and then apply what you have learned to a sales solution which addresses their needs and concerns.
Many of these stalls can be avoided by properly qualifying the prospect. Most stalls and objections are the consequence of a sales person who is attempting to short circuit the process and rush to the close. Some of the initial information you need to uncover includes:
Do they have a need for your product or service?
∑ Is there a legitimate need for your product?
∑ Is your product essential to the prospect?
∑ Is your product a luxury item?
∑ How will the prospect use your product or service?
∑ When do they intend to purchase?
Can they afford the product?
∑ What is their budget?
∑ What financial criteria do they employ when making a decision?
∑ Do they have the ability to pay for your product or service?
∑ Do they have the ability to obtain credit?
∑ When will their budget allow them to authorize a purchase?
The prospect’s experience with similar products.
∑ What was their previous experience?
∑ What was the product they used?
∑ Was the experience positive or negative?
∑ What did they like about the product?
∑ What didn’t they like about it?
Who makes the ultimate buying decision?
∑ Is the buying decision made by an individual or committee?
∑ Are there people who can influence the decision makers? Who are they?
∑ What is the decision making process and how long does it take?
There are many other items which can be included, but these will vary by the type of product or service you sell. The above listed items should be the foundation for every sale.
Something to Think About
Many stalls and objections can be avoided. Consider the following points:
1. Examine your qualifying process. Are you properly qualifying your prospect or attempting to short circuit the process? Explain.
2. Do you tend to forget what you learn from a prospect, only to rush into your canned one size fits all presentation? How are you able to craft solutions from the information you have collected?
-- Timothy F. Bednarz, PhD
Timothy F. Bednarz, PhD is the Principal Partner of the American Management Development Group. He can be reached at 800.654-4935 or email@example.com. Find out more at www.LetsTalkSelling.com.
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