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Sunday, October 28, 2012

The Sales Process | Handling Objections

In my opinion, the most crucial part of the sales process is when sales people meets objections. The reason behind this is because aside from not making the sale, it can demotivate a salesperson specially newbies in this profession.

As sales managers, you should make this very clear in the beginning that your neophytes will definitely meet objections and sometimes, they will never be able to answer all of them. The higher the position they are presenting to, the more complex are the questions and sometimes, basic product information is not enough.

I really believe that meeting objections is more of an art than a science. It is in the way you say things that would make it satisfactory for the client enough that they might forego any unanswered objections and buy your product.

Here's a deck my students in De La Salle University prepared for this topic. There's a lot of techniques discussed in the slides that you'll be able to use when you meet a client objection.

In a nutshell, my tips before and during handling objections:
  • KNOW your product inside-out. It is not enough to know the basic FAB (Features-Attributes-Benefits) but also know warranty/guarantee coverage. 
  • KNOW your competitors. You don't want to be blindsided by features you don't know so that you can answer your client's directly what's the difference with your product.
  • ANTICIPATE your client's questions. Here's a tip: Google your product and if there's an available review. Most likely your client's questions would be the same with the people who made the online review. 
  • PRACTICE with someone when you can. It is only through this that you would be able to overcome your fear of meeting objections. 
  • HAVE the confidence of a king. Yes - a king! Have you ever seen a king who doubts his uttered words?