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Sales Objections Linkedin

Key Account Manager um Merck Serono
7. Nov 2011
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Sales Objections Linkedin

  1. Sales Objections Women’s HealthCare Joseph Youssef
  2. Sales Objections Analysis Women’s HealthCare Joseph Youssef
  3. Sales Objections Analysis What is an objection ? It’s a concern raised by the buyer provides a feedback about what is really in mind. Women’s HealthCare Joseph Youssef
  4. Sales Objections Analysis Why is it important to analyze objections? Objections Opportunities Women’s HealthCare Joseph Youssef
  5. Sales Objections Analysis Source Type Women’s HealthCare Joseph Youssef
  6. Sales Objections Analysis Need Product • I don’t not need the • I don’t like the product. product. • Your product makes too • I’ve never done it that much noise. way before. Firm Price Time • I don’t like your • I have no money • I’m just not interest company. • The value does not today. • I don't like you. exceed the cost. • I need time to think about it. Women’s HealthCare Joseph Youssef
  7. Sales Objections Analysis Misunderstanding Skepticism Drawback • The buyer believes in • The buyer doubt in • The buyer believes in a feature or defect the features or the a feature or defect which doesn’t exist. manuals. which exist. Women’s HealthCare Joseph Youssef
  8. Sales Objections Analysis Customer: Your Customer: Your Customer: I’m Example 2 Example 3 Example 1 product is low company supports travelling quality. Israel‘s economy. tomorrow. Hint: You know it’s Hint: You told him Hint: Your product from the top 5 in before that your needs 72 hrs for the market. company invest installation. money in Egypt only. Source: Source: Source: Product Firm Time Type: Type: Type: Misunderstanding Skepticism Drawback Women’s HealthCare Joseph Youssef
  9. Sales Objections Analysis Type Source • Need • Misunderstanding • Product • Drawback • Firm • Skepticism • Price • Time Women’s HealthCare Joseph Youssef
  10. Sales Objections Analysis Magi Green spent considerable time working with a Case 1 prospective buyer. She thought a good order would be forthcoming on her next call. A portion of her conversation with the buyer went as follows: BUYER: You know, I like what I hear about your copying machine. But how can I be sure it will be available on the days that we need it for our next project. MAGI: We’ve never had any real complaints before. I’m pretty sure they will be easily available and installed on time. BUYER: You are sure of that? MAGI: Well, I’ve never heard of any problems that I can remember. BUYER [appearing unconvinced and looking at some papers on his desk with out glancing up]: I’ll let you know later what I plan to do. Thanks for dropping by. Women’s HealthCare Joseph Youssef
  11. Sales Objections Analysis Case 2 You have been describing to a retail security officer and his boss a new security camera that your firm just introduced. The camera has tracking features that make it easier for security to review tapes. The security officer says, “I would really like that” The boss says, “Well, if it’s what you think we need, OK. How much does it cost?” At your reply, “This one is £ 2,498,” the boss exclaims, “For that little thing” Hint: Your competitor costs £ 1,500. Women’s HealthCare Joseph Youssef
  12. Sales Objections Responding Women’s HealthCare Joseph Youssef
  13. Sales Objections Responding How can we respond to an objection ? & Relax Listen To answer before listening is foolish and shameful… Women’s HealthCare Joseph Youssef
  14. Sales Objections Responding Why do we need to respond properly? The reality is that salespeople run into rejection in a day than most people have to absorb in weeks or months. Women’s HealthCare Joseph Youssef
  15. Sales Objections Responding Common methods for responding to objections Women’s HealthCare Joseph Youssef
  16. Sales Objections Responding Rules in consideration Rule No 1 • Relax and listen Rule No 2 • Evaluate objections Rule No 3 • No ideal response method Women’s HealthCare Joseph Youssef
  17. Sales Objections Responding Common methods for responding to objections If the buyer makes a statement that is Direct denial Indirect denial , USE: If the buyer raises a Compensation or Boomerang Feel – Felt – Found Pass by USE: Postpone Women’s HealthCare Joseph Youssef
  18. Sales Objections Responding 1. Direct denial Form • Disagree + Evidence Buyer: “Your product’s quality is too low.” Response: “ That simply is not true. Our product has been rated as the highest in the industry for the last three years.” Women’s HealthCare Joseph Youssef
  19. Sales Objections Responding 1. Direct denial •No one likes to be told that he or she is wrong. •This will lead to confrontation. Use when objection refers to something that is critical important. Women’s HealthCare Joseph Youssef
  20. Sales Objections Responding 2. Indirect denial Form • Assure that the question is a good one + Evidence Buyer: “Your product’s quality is too low.” Response: “ That ‘s really an excellent question, and allows me to clear up a misconception that perhaps I’ve given to you. Actually, though, our product has been rated as the highest in the industry for the last three years.” Women’s HealthCare Joseph Youssef
  21. Sales Objections Responding 3. Compensation Form • Admit + Benefit detailing (Optional) Buyer: “Your product’s quality is too low.” Response: “ I defiantly understand your concern. However, It was designed that way in order to be simple and less complex moreover economic comparative to other competitor products. Women’s HealthCare Joseph Youssef
  22. Sales Objections Responding 3. Compensation Feature – Benefit Cost effective Benefit 1 Feature 1 Benefit 2 Benefit 3 Feature 2 Benefit 4 Price objections Women’s HealthCare Joseph Youssef
  23. Sales Objections Responding 4. Boomerang Form • Admit + Return objection into a reason for buying Buyer: “Your product’s quality is too low.” Response: “ The fact that the quality is lower than in other products is probably the very reason you should buy it. You said you have grandchildren, you just need something simple and low-priced. This product fills that need. Women’s HealthCare Joseph Youssef
  24. Sales Objections Responding 4. Boomerang It can appear Women’s HealthCare Joseph Youssef
  25. Sales Objections Responding 5. Referral / Third party testimony method Form • Feel – Felt – Found Buyer: “Your product’s quality is too low.” Response: “ I can certainly understand how you feel. Dr. Adel felt the same way before he bought the product. But after using it, he found the quality was actually superior to that of the others.” Women’s HealthCare Joseph Youssef
  26. Sales Objections Responding 5. Referral / Third party testimony method • Avoid extremes • Avoid unpleasant relations • Third party permission • References Women’s HealthCare Joseph Youssef
  27. Sales Objections Responding 6. Postpone Form • Permission to answer later + Detailing Buyer: “Your product’s quality is too low.” Response: “ That’s an interesting point. Before discussing fully, I would like to cover just two things that I think will help you better understand the product from a different perspective. OK?” Women’s HealthCare Joseph Youssef
  28. Sales Objections Responding 6. Postpone •Raise an objection in the early part of the sales interview • Should ask for permission •Some objection best to be answered when they occur Never use it if the buyer insist to know the answer. Customer: what are the delivery schedules Example for this product? Salesperson: I would really prefer to discuss that after we talk about our production line. Customer: No, I want to know now! Salesperson: Well, we deliver it within 72 hrs. Women’s HealthCare Joseph Youssef
  29. Sales Objections Responding 7. Pass-up / Acknowledge Form • Acknowledge + [PAUSE] + Another topic Buyer: “Your product’s quality is too low.” Response: “ I understand your concern. You know one of the things I always look for is how product's quality stacks up against its cost. [PAUSE] Now, we were talking about….” Women’s HealthCare Joseph Youssef
  30. Sales Objections Responding 7. Pass-up / Acknowledge • Use rarely / sparingly • Use with FALSE objections • Probing & clarify [ Acknowledge] •PAUSE : 3 – 5 sec. • Experience is the key Women’s HealthCare Joseph Youssef
  31. Sales Objections Responding Objections Analyze Respond Source Type Direct Need Misunderstand Indirect Product Drawback Compensation Firm Skepticism Feel - Felt - Found Price Boomerang Time Postpone Pass-by Women’s HealthCare Joseph Youssef
  32. Sales Objections Author : Joseph Youssef Women’s HealthCare Joseph Youssef
  33. Sales Objections Analysis Joseph Youssef Women’s HealthCare Joseph Youssef
  34. Sales Objections Women’s HealthCare Joseph Youssef
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