Overcoming Objections: 1 Step Closer to Closing Sales:
Being in the car sales business was always a love/hate scenario for me. Although sales just seems to run in my blood, I despised the pressure & sales meetings that were (at times) downright scary! You were asked point blank if you met your sales quota for the week, and if you didn’t, you better be prepared with a reason as to why & how you were going to reach your goal before the next week. At times, there was a lot of sweat, vain popping, and nervous knee shaking that filled the room. It felt like being in a pressure cooker! Thankfully, there is always something positive to come away with from every situation I encounter in life. If it weren’t for my car sales experience, I might never have learned an important part of closing sales: OVERCOMING OBJECTIONS!
If you’ve never been in sales before, you might be scratching your head wondering what I mean by ‘objections.’ I would define an objection as ‘an excuse a misinformed individual (sales lead, in this case) would make to escape the sale.’ Fortunately, in the car sales industry, they spend countless hours training me on how to overcome such an objection. One important tip I learned from these teachings is that objections aren’t necessarily bad. In fact, if you tune your listening ear to read beyond the surface of the objections, you will find that the customer is actually helping you qualify or disqualify themselves. They are telling you whether or not it would be worth your time & energy to work with them. Not to be mean, but some people have a mindset and will that you simply cannot change. It is up to you to be able to separate the wheat from the chaff, so to speak. Interpreting the objection will take practice, but will aid you closing your sales….which is just the beginning! It will help you build a lifelong business with quality colleagues!
Closing Sales: Read In Between the Lines
Here are some of the most common objections (detours while closing sales) I hear when dealing with prospective customers on the phone:
*Objection #1: “Before I take a look at your website, how much is it (your product or business opportunity)?”
How to overcome: NEVER give them a price before you’ve built VALUE. If you give in to this, and lead off with a price, you will most likely lose the sale! Instead, redirect your prospect with a laugh: “It’s under a million dollars….ahahahaha!” Once they are off the price, refocus them on visiting your website. Reassure them that it is affordable, and that you would like them to become more informed. If they insist on knowing the price after this, they may not be ready to join in your opportunity. Those are usually the type of people that are looking to make a quick buck, and aren’t willing to invest in themselves, their eduction, or helping others. Remember, you want to work with people that are willing to follow directions (and you should have directed them to a website & given them direction on the next step to get started).
*Objection #2: “Ummm….I need to talk to my wife/partner first.” Granted, I believe in clear communication between spouses, but this line is overused as a way of escape!
How to overcome: “Hey Joe (or whatever their name is), I can respect that, but can I ask you a question….Do you want to seriously move forward, or are you just not interested. Please just let me know because I’d hate to waste my time and yours.” If they assure you they ARE interested, pin them down with an appointment within 24 hours. If they admit that they really AREN’T interested, move on & wish them well. Your time is too precious to try to force someone into an opportunity. Don’t be desperate, take it as a red flag that it is a dead lead & go on to the next prospect.
*Objection #3: “I just don’t know. How much money are YOU making, Mark?”
Just a few side notes on this one: First, this is a rude comment made out of ignorance. Sometimes people forget & just blurt out the first thing that comes to mind. Would you really start a conversation with someone & randomly ask how much they make? Not likely. It’s really not their business, but handle this one with care. This may be a red flag of someone that is looking to get rich quick. It also is a sign that they may not be able to make a decision themselves & they want you to lead them into making a choice. It could possibly mean that they are a business jumper….one that jumps from business to business & never focuses on/works one business. However, before you decide they are a person to avoid, you might want to test them further.
How to overcome: “I’m on my way to making 6 figures (this is not a lie…if you are diligently working towards this goal, you ARE on your way to making this kind of cash), but it’s not about what I am making, it’s about how much money you can make!” Again, redirect them to your website, get them informed, and then you will see if they are serious about investing in your product/business.
Closing Sales Takes Practice & Patience…Don’t Get Discouraged!
To sum it up, if you are serious about building your own business, you have to realize that objections come with the territory. Not everyone will like you, or your product, or will say ‘YES’ to the opportunity you are proposing. However, you can’t let that effect you personally. You need to keep in mind that objections can be useful & enlightening when considering the type of people you want to work with. Listen intently to the objections, try to overcome them if possible, and if you cannot break down the objection, don’t be afraid to let go of the lead.
You’ve heard it said before, ABC = Always Be Closing…this is a brilliant idea! I have an even better suggestion, ABH = Always Be Helping. You are in your business to make money, obviously. MORE IMPORTANTLY, you are in your business to help others! It’s not just about the dollar…that is just the icing on the cake. Imagine: You have the power to help others help themselves! Your business opportunity/product may be just the thing they’ve been looking for! Granted, there are some that don’t want to be helped…but by understanding objectives, and navigating around them, you will be able to find the few that DO want to be helped. Those are the ones you want to inform so that they can make a positive decision for their business future.
Closing sales is the lifeblood of your business!