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Chapter 11 Handling Objections: The Power of Learning from Opportunities

Chapter 11 Handling Objections: The Power of Learning from Opportunities. Video Ride-Along. The video Handling Objections features Paul Blake, Vice President of Sales, Greater Media Philadelphia Paul Blake gives his tips about handling objections

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Chapter 11 Handling Objections: The Power of Learning from Opportunities

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  1. Chapter 11 Handling Objections: The Power of Learning from Opportunities

  2. Video Ride-Along • The video Handling Objections features Paul Blake, Vice President of Sales, Greater Media Philadelphia • Paul Blake gives his tips about handling objections • He shares his advice about how to make handling objections the most productive part of the selling process • To view the video, click here • http://www.youtube.com/watch?v=zo4BFaXhFz0

  3. Chapter Objectives • Understand what a sales objection is. • Learn how overcoming objections can strengthen a relationship. • Understand when and why prospects raise objections. • Learn strategies to handle objections.

  4. Chapter Objectives • Understand the different types of objections and how to handle them. • Learn about common objections you may hear in a job interview and the best way to respond. • Understand how follow-up to a job interview can help “overcome objections.”

  5. What are Objections? • Sales objections: Prospect questions or hesitancies about either the product or company • Signals your prospect’s level of interest • Alerts you to what actions need to be taken to bring the sale to a close • Helps you build your relationship • Helps in finding the true reason for resistance

  6. Objections as Opportunities • Objections should be considered as an extension of the selling process • To understand better what your prospect wants and needs - don’t avoid objections; encourage them

  7. Consider Objections Before they Occur • Strategies for preparing for the objections that will build your relationship with the customer: • Understand your prospect and believe in your partnership • Do not lose sight of your prospect’s buying motivations • Understand your prospects risk factors • Think about every possible objection the prospect might express • Be proactive and prepared to raise objections first

  8. Why Prospects Object • No or not enough money • No perceived need • No sense of urgency • No trust

  9. When Prospects Object • When you are first trying to make contact • When you are making a sales presentation • When you are attempting to close the sale, or make a trial close

  10. How to Handle Objections • Consider the objection as a question • Respond to the objection with a question • Restate the objection before answering the objection • Take a pause before responding • Use testimonials and past experiences • Never argue with the prospect

  11. Types of Objections • Product objection: A concern voiced by the prospect relating directly to the product • Source objection: A barrier presented by the prospect relating to your company or to you • Price objection: A concern voiced by the prospect about the perceived value of a product or service • Money objection: A concern voiced by the prospect that relates to the budget or financial ability to make the purchase

  12. Types of Objections • “I’m already satisfied” objection: A barrier presented by the prospect that indicates that there is no need for the product or service • Hidden objection: An objection that is not openly stated by the prospect but is an obstacle in the way of making the sale • “I have to think about it” objection: An objection that is actually a stall

  13. Handling the Price Objection • The video Price Too High features best-selling author and sales expert Jeffrey Gitomer • Jeffrey Gitomer discusses how to handle the price objection • To view the video, click view • http://www.youtube.com/watch?v=xrG_SFgcCHc

  14. Is Being Satisfied Good Enough? • The video Engage the Prospect features best-selling author and sales expert Jeffrey Gitomer • Jeffrey Gitomer explains how you can engage your prospect by taking away the objection before they have a choice to raise it • To view the video, click here • http://www.youtube.com/watch?v=OCecpcnhqLQ&feature=related

  15. Ultimate Stall • The video I'd like to think about it - and other sales stalls features Best-Selling Author and Sales Expert Jeffrey Gitomer • Jeffrey Gitomer refers to the “I'd like to think about it” statement as a stall and not as an objection • To view the video, click here • http://www.youtube.com/watch?v=cCyf8af78A8&feature=related

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