A successful business is one that solves problems for other people.
It achieves this not only with its product, but also with how the product (or service) is purchased, implemented and utilized. In order to continuously solve problems through all of these stages, a successful business understands its client needs. This means encouraging, addressing and resolving objections.
When building a revenue development (read: sales) strategy for a client, or when training a team on improving their sales conversations, I always include an Objection Handling Strategy.
Explain the categories
A majority of the businesses I work with say their biggest sales obstacle is pricing. Occasionally they also raise things like “clients don’t understand what I do” or also “I just don’t know what went wrong”.
Once I explain the five categories (Product, Company, Time, People, and Price), we start to reorganize those perceived obstacles into these different areas. Suddenly we have a better view of the problems each client faces and the variety of ways in which the given business can help resolve those.
Build the Objection Table
We input these into an Objection table, assigning each problem, concern or rejection into its correct category. This forces the writer to analyze what is really going on in each instance, and think about potential remedies.
If an objection in a category is resolved by a solution in a different category, then either the objection or the category have been misunderstood. So we dig deeper to understand the true nature of the objection.
This structured approach allows an effective and faster resolution.
Prepare for the Conversation
Always encourage the objection.
Once we have a complete objection table, I train my clients in listening for objections and asking probing questions in these areas.
Encourage and examine the objection, to the point that it can be isolated and addressed. If you have targeted the correct prospect to begin with, you will find that almost all objections can be resolved and overcome.
Do you need help training your team on Objection Handling?
Is your small business lacking an Objection Table and Strategy?
Contact me to find out how to move your team away from competing on price. Say it after me: we don’t offer discounts.