Here is an effective way to answer objections.
To best illustrate this process we're going to use a real objection we hear at TSR: The Price Objection. The process is the same regardless of what you hear.
The situation: After presenting a proposal for a one-day workshop on telephone selling skills for inside salespeople, the sales manager called back and said, "Your price is too high."
The Four-Step Process:
1. Softening Statement. Most people are conditioned to buckle up their chin-strap and be prepared for some head-knocking after they voice an objection, since so many sales reps fire back with slick, prepared answers to objections--many of which are designed to paint the objector
into a corner, while not answering the real concern. What you want to do is let the person know you're not going to participate in that type of silliness. You are simply concerned with helping them. That's all. The best statement we've ever heard or used to this effect is, "Let's talk about that." By saying this in a sincere tone of voice, you're literally pulling your chair over to the other person's side of the table to help him solve a problem. And that's what objection answering is all about.
2. Isolate and Probe. This is really where the objection is answered. First, you need to make sure you're dealing with the real reason for objection. You need to ask questions. "Well, let's talk about that. Everything else aside, the price is the only roadblock right now? You'd go with us if it were not for the price?" After getting confirmation, you need to probe to the root of the reason for the objection. Here are questions we use when the price objection surfaces:
"What exactly are you comparing our price to?"
"What price did you have in mind, and how did you arrive at that?"
"Is it a question of the price, or of the money not being available
The first question here is critical, since it must open up the door to the real reason for the objection. After they answer, you will ask more questions. For example, if they said, "We have another proposal here, and it's a little less." Our responses to that answer: