Buying means making a change in his circumstances, and the instinctive reaction to change is resistance. It is for this reason that buyers will generally raise objections. Almost always, assurance is what they want in response
Chances are that, a lady you are interested in will give this or that excuse for not accepting your initial coffee date. In sales parlance, these “excuses” are referred to as objections. Just as with the girl, when a potential buyer raises objections to the sale, he is doing so for a reason and many times it’s not in what he is saying.
Half the time it’s an assurance he needs that all will be well; remember, buying means making a change in his circumstances, and the instinctive reaction to change is resistance. The buyer will also object because he wants to see how serious you are about his welfare and the relationship; this is still some form of assurance but not one hinged on the fear of change so much as one driven by the desire for business sustainability. For instance, in business to business sales or when selling to executives, the default buyer’s thinking is long term. So he will ‘play hard to get’ to see whether you are in this for the long haul or not; or, he’s not playing hard to get but simply the rights issue is priority right now and proceeds from it will determine the next steps in the sale. Sometimes, it could also be that he’s simply indecisive and wants the decision made for him.
However, whatever the circumstances, read between the lines. Listen carefully and respond appropriately. Assuming the sale has been going well and he is genuinely interested in buying, assurance is what you want to offer him. For this reason, resorting to the features of the product or service doesn’t help matters. For instance, the client objects with “Your price is too high” or “Your returns are too low”. Responding with, “But we also give you insurance cover in the event of death and you can plough back your interest rate to enjoy compounded growth” only complicates a simple problem.
Let’s put aside the use of jargon in that response which is a problem in itself. First you’ve just quoted the brochure and added no value to the process. In fact, you made it worse by using the word but. But irritates and feels dismissive of one seeking assurance. When he objected with, “the price is high” the buyer was looking for assurance that the shirt he is buying will get the raves he anticipates; to say, “but it also has an extra button in case you need to make a replacement and that it can be worn tucked or un-tucked” just makes you come out defensive, inadvertently energizes the buyer’s position and most likely loses you the sale. “For what it will buy you, it’s worth every cent. Trust me. I’m a woman. And I’m telling you, match it with a pair of brown khakis and the women will go weak at the knees.” Assuming the sales person is a lady, and the buyer a man, this response handles the objection much more effectively. In fact, with the man’s ego swollen, it may also get her to sell him a pair of brown khakis he hadn’t planned on buying.
So, “Your returns are too low” a better response would be, “Compared to whom, Sir?” This response pre-supposes you intimately know your competition (which you should). That way when he responds with the competitor’s name, you acknowledge his response and looking thoughtful state, “Yes. Hao Wengine are known to us. Would you like to know our point of difference and how it is of benefit to you?” He’ll most like likely say, yes. At this point, and without mentioning the competitor again, you show how your product (as a whole, without confining it to price nor comparing it to the competition) resolves his need. This way you energize him with assurance.
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