Maximizing Your Potential!

OK, so you’ve already tried to handle your prospect with ACCORD and let’s say, they said, “Joe, we decided before you came, that we were not going to make a decision today.”

Now, you can move on to the for steps for handling ‘I Need to Think About It’ or some version of that statement.
I like to use the Acronym ‘STOP‘ to help deal with this. Remember, This is NOT the real objection. It truly just reflects a lack of conviction on the part of the prospect.
1. Stay serene in showing them that you understand where they are coming from.
2. Track the source of their lack of conviction (you can do this one of two ways, ask them what it is they need to think about or what concerns them or ask if they are comfortable with you, your company, the product or service you offer, the price or the timing). Either way you will eventually get their true objection.
3. Handle the REAL objection and direct them toward their TRUE objective (their personal emotional reason WHY they need your product or service).
4. Push them gently toward the close using strong conviction and emotion.

Let’s say, your prospect says, “Joe, I just don’t know about that price?!? Is there any way you can give us a discount?”
I use do the following, thinking of the acronym CHEAP while I’m doing it.
1. Let your prospect know how much it may Cost him if he does not take action.
2. Stay Honest with your cost analysis.
3. Evaluate features vs. how much they mean to the prospect in terms of value (for instance, they are thinking of purchasing a home. They want a pool. The home they like most has a pool. It costs $15,000 more than a home just down the street which does not have a pool. I would ask them if the pool is a MUST for them. How much is it worth to them to have a pool and all the landscaping associated with it already done for them. They may not be sure and may ask you how much that would cost. You need to have a good honest answer ready in that case. Be prepared but in most cases it will cost less for them to purchase already done in both dollars and inconvenience).
4. Focus on the long term Advantages for them.
5. Hold your Position on this, especially if it is related to the commission you earn on this sale.

One last objection that comes up quite regularly (especially if you do NOT have all the decision makers present) is, “I have to talk to…” (my wife, my accountant, my in-laws, my lawyer, whatever)
Use this acronym to help you remember these simple steps, MAN.
1. Motivate your prospect to present the person they feel has the authority to make the decision.
2. Make sure your prospect is an Ally. (Ask him/her, “If it was your decision alone, would you do it right now?” This will tell you very quickly if they are sold. You may need to handle them first before you talk with the person who has authority).
3. Get a conditional agreement Now, if you have trouble getting the authority tag there right away.

Good Luck!

Technorati Tags: Acronym, Analysis 3, Emotion, Emotional Reason, Honest Answer, Objection, Personal, Pool, Strong Conviction, True Objective, Two Ways

You’ve asked for the order and now, potentially, the fun begins.

FACT, 62% of salespeople fail to ask for the order!

If you get an objection from your prospect you need to know that it is a sign of disagreement. You need to revert this disagreement flow if you want to handle any kind of objection.

As you were talking with your prospect both of you were focused on the overall objective which was your client working with you to achieve a result, be it, a For Sale sign in their yard, a major ad campaign started or new signs for the front of their office.

When the prospect says, ‘I need to think about it,’ or some such objection. They are now focused on you in some way, and have taken their attention off the end result. You have to gently get them focused on that objective again.

Three things occur when an objection is voiced:
1. The prospect attempts to stop you from communicating
2. He/She is trying to take over control of the process
3. They disagree.
Remember, a disagreement stops the sale. Agreement MUST be restored FIRST!

Here are the five basic objection handling steps. Honestly, if you just learned these five steps and became a master of them you would not really need anything else but we do have some other tips for a few other objections.

1. Acknowledge the prospect
2. Accentuate what they told you, making them right
3. Observe in silence
4. Restore agreement using their emotional reason for moving forward in the first place
5. Direct them to the close

There is a very simple acronym I use for remembering these steps: ACCORD

Accord is French for, ‘to come together’ it also has to do with being in harmony. Both things you want to accomplish in order to move forward in the process.

Notice, that by acknowledging and making the person right you are continuing to communicate, so the person does not accomplish his first objective of stopping you.

The most powerful step is Number 3. Observe in Silence! This is where you take back control of the sales cycle. Many of my clients want to know exactly how long one should observe the other person before moving on. This is a judgment call on your part. You want to do it for at least one or two seconds. You want the client to realize you are not fighting with him, you have not lost your composure or risen to the ‘bait!’

I usually take those few seconds to compose in my mind exactly what I am going to say in Step 4 which has a lot of conviction and emotion in it.

Be sure not to start Step #4  with ‘But’ or ‘However’ as this has a tendency to negate the other person and make him/her wrong. This is a sure fire way to shoot yourself in the foot.

Once you have gotten your client focused on the overall objective again, you close.

Let me give you an example of this. The client says, “We need to think about listing our home.” Here is how I would proceed:

“I can totally understand the need to consider your decision. It is a big one,”

(silence)

“When we were talking earlier, you mentioned that you have a home in Grass Valley that you are ready to move to. You won’t have to mow the lawn and it’s a ranch style so you won’t have to walk up the stairs anymore. I want to do what I can to get you there sooner, rather than later. You deserve that! Let’s get the paperwork started so I can get you there before the summer heat builds up!”

Notice how I did all five steps above. I did not handle exactly what he might have needed to think about. If this objection comes up again. I will do that. For now, I am content to let this be my 2nd opportunity to close!

There are some rules about handling an objection, which you need to know!

1. You must make sure than the objection is Real or if it is an excuse to escape the close, which is the case approximately 80% of the time. Only as an objection comes up again and again do you handle it. The first time, Don’t! Use the 5 basic objection handling steps to overcome his/her lack of confidence or conviction in now being the right time or you being the right person for the job.

2. An objection is a great opportunity to close. Many sales people look on objections as a bane to their existence. Great sales people look at them as an opportunity. Embrace the challenge!

3. Only when an objection comes up again and again do you handle it. The first time don’t!
Your logical, factual arguments will never handle an objection based on opinions. You need to use emotional arguments to handle these as the opinion is embraced by the emotional side of your client.

5. Always answer a question by directing your prospect toward  a using situation, e.g. say ‘when you are in the house,’ rather than, ‘if you are in the house.’

Here’s to many awesome closes this week!

Technorati Tags: Acronym, Ad Campaign, Attempt, Control, Disagreement, Emotional Reason, End Result, Five Steps, Fun, Handling Objections, Harmony, Moving, Objection Handling, Objective, Salespeople, Signs, Silence 4