Overcoming Sales Objections

Sample

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TABLE OF CONTENTS Preface .............................................................................................................................................. 3

What is Courseware? ................................................................................................................................ 3

How Do I Customize My Course? .............................................................................................................. 3

Materials Required ................................................................................................................................... 4

Maximizing Your Training Power .............................................................................................................. 5

Icebreakers ........................................................................................................................................ 6

Icebreaker: Friends Indeed ........................................................................................................................ 7

Training Manual Sample ..................................................................................................................... 8

Sample Module: Getting to the Bottom ................................................................................................... 9

Instructor Guide Sample ................................................................................................................... 16

Sample Module: Getting to the Bottom ................................................................................................. 17

Activities ......................................................................................................................................... 25

Quick Reference Sheets .................................................................................................................... 27

Certificate of Completion ................................................................................................................. 29

PowerPoint Sample .......................................................................................................................... 31

Full Course Table of Contents ........................................................................................................... 36

Preface

What is Courseware? Welcome to Corporate Training Materials, a completely new training experience!

Our courseware packages offer you top-quality training materials that are customizable, user-friendly, educational, and fun. We provide your materials, materials for the student, PowerPoint slides, and a take-home reference sheet for the student. You simply need to prepare and train!

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How Do I Customize My Course? Customizing your course is easy. To edit text, just click and type as you would with any document. This is particularly convenient if you want to add customized statistics for your region, special examples for your participants’ industry, or additional information. You can, of course, also use all of your word processor’s other features, including text formatting and editing tools (such as cutting and pasting).

To remove modules, simply select the text and press Delete on your keyboard. Then, navigate to the Table of Contents, right-click, and click Update Field. You may see a dialog box; if so, click “Update entire table” and press OK.

(You will also want to perform this step if you add modules or move them around.)

If you want to change the way text looks, you can format any piece of text any way you want. However, to make it easy, we have used styles so that you can update all the text at once.

If you are using Word 97 to 2003, start by clicking the Format menu followed by Styles and Formatting. In Word 2007 and 2010 under the Home tab, right-click on your chosen style and click Modify. That will then produce the Modify Style options window where you can set your preferred style options.

For example, if we wanted to change our Heading 1 style, used for Module Titles, this is what we would do:

Now, we can change our formatting and it will apply to all the headings in the document.

For more information on making Word work for you, please refer to Word 2007 or 2010 Essentials by Corporate Training Materials.

Materials Required All of our courses use flip chart paper and markers extensively. (If you prefer, you can use a whiteboard or chalkboard instead.)

We recommend that each participant have a copy of the Training Manual, and that you review each module before training to ensure you have any special materials required. Worksheets and handouts are included within a separate activities folder and can be reproduced and used where indicated. If you would like to save paper, these worksheets are easily transferrable to a flip chart paper format, instead of having individual worksheets.

We recommend these additional materials for all workshops:

• Laptop with projector, for PowerPoint slides

• Quick Reference Sheets for students to take home

• Timer or watch (separate from your laptop)

• Masking tape

• Blank paper

Maximizing Your Training Power We have just one more thing for you before you get started. Our company is built for trainers, by trainers, so we thought we would share some of our tips with you, to help you create an engaging, unforgettable experience for your participants.

• Make it customized. By tailoring each course to your participants, you will find that your results will increase a thousand-fold.

o Use examples, case studies, and stories that are relevant to the group.

o Identify whether your participants are strangers or whether they work together. Tailor your approach appropriately.

o Different people learn in different ways, so use different types of activities to balance it all out. (For example, some people learn by reading, while others learn by talking about it, while still others need a hands-on approach. For more information, we suggest Experiential Learning by David Kolb.)

• Make it fun and interactive. Most people do not enjoy sitting and listening to someone else talk for hours at a time. Make use of the tips in this book and your own experience to keep your participants engaged. Mix up the activities to include individual work, small group work, large group discussions, and mini-lectures.

• Make it relevant. Participants are much more receptive to learning if they understand why they are learning it and how they can apply it in their daily lives. Most importantly, they want to know how it will benefit them and make their lives easier. Take every opportunity to tie what you are teaching back to real life.

• Keep an open mind. Many trainers find that they learn something each time they teach a workshop. If you go into a training session with that attitude, you will find that there can be an amazing two-way flow of information between the trainer and trainees. Enjoy it, learn from it, and make the most of it in your workshops.

And now, time for the training!

Icebreakers

Each course is provided with a wide range of interactive Icebreakers. The trainer can utilize an Icebreaker to help facilitate the beginning of the course, as it helps “break the ice” with the participants. If the participants are new to each other, an icebreaker is a great way to introduce everyone to each other. If the participants all know each other it can still help loosen up the room and begin the training session on positive note. Below you will see one of the icebreakers that can be utilized from the Icebreakers folder.

Icebreaker: Friends Indeed

Purpose

Have the participants moving around and help to make introductions to each other.

Materials Required

• Name card for each person • Markers

Preparation

Have participants fill out their name card. Then, ask participants to stand in a circle, shoulder to shoulder. They should place their name card at their feet. Then they can take a step back. You as the facilitator should take the place in the center of the circle.

Activity

Explain that there is one less place than people in the group, as you are in the middle and will be participating. You will call out a statement that applies to you, and anyone to whom that statement applies must find another place in the circle.

Examples:

• Friends who have cats at home • Friends who are wearing blue • Friends who don’t like ice cream

The odd person out must stand in the center and make a statement.

The rules:

• You cannot move immediately to your left or right, or back to your place. • Let’s be adults: no kicking, punching, body-checking, etc.

Play a few rounds until everyone has had a chance to move around.

Training Manual Sample

On the following pages is a sample module from our Training Manual. Each of our courses contains twelve modules with three to five lessons per module. It is in the same format and contains the same material as the Instructor Guide, which is then shown after the Training Manual sample, but does not contain the Lesson Plans box which assists the trainer during facilitation.

The Training Manual can be easily updated, edited, or customized to add your business name and company logo or that of your clients. It provides each participant with a copy of the material where they can follow along with the instructor.

Sample Module: Getting to the Bottom When handling objections, you need to ask the right questions in order to develop a positive rapport. Every salesperson should be prepared to face objections. Most customers have the same common objections. This means that you should have a number of appropriate questions ready to handle the different objections.

Successful people ask better questions, and as a result, they get better answers.

Lou Holtz

Asking Appropriate Questions

We have already established that you need to translate objections into questions. It is important to remember, however, that asking the wrong questions or even asking the right question in the wrong way will not encourage your prospect to make a purchase. You need to remain professional at all times, and never take objections personally. When asking questions, there are a few things you need to remember to do and not to do.

How to Ask Questions:

• Allow the customer to finish: Always ask the question when the customer is done speaking.

• Be positive: Believe in your product and allow the customer to see that in your demeanor.

• Maintain eye contact: Keep appropriate body language to earn trust.

• Be prepared: Work testimonials and statistics into your questions.

How Not to Ask Questions:

• Do not argue: Being defensive or sarcastic will not win any new customers.

• Never tell the customer that they are wrong: Even when people are wrong, avoid pointing it out. Say something like, “Did you know….”

• Do not accuse the customer of not understanding something: Make sure that your questions are not insulting. Ask for clarification rather than insulting a prospect’s intelligence.

Common Objections

There are several common objections that people may give after they listen to your sales pitch. There are some basic questions that will help you respond to these objections.

Common Objections and Answers:

• Your product is expensive: May I ask what you are comparing it to? Did you know that the quality of our product results in fewer purchases from our customers?

• I’m not interested: I understand that you are not interested at this time, but may I explain how we can increase your profit margin?

• I need to think about it: Why don’t you make a decision now so you can focus on your current needs?

• Your product does not meet our needs: May I ask what you find lacking?

Basic Strategies

Sometime objections are made before you even have the opportunity to discuss the project. This does not mean that you have to give up. There are simple strategies that may lead to closing a sale.

Basic Objections and Strategic Answers:

• I’m too busy to talk about this: I realize you are busy, is there a better time for me to call back?

• I do not need this now: May I send you my information, and you can contact me should you need our services?

• Send me the information: Could I discuss the needs of your company with you first, so I can send you the information pertaining to what your company specifically needs?

• We cannot afford this: Will you allow me to discuss different options that will fit into your budget?

• I already have a vendor: Are you completely satisfied with your current service? May I explain why our company stands out?

Case Study

Eureka Forbes was the first company to introduce vacuum cleaners and water filters to India. The products were not known in the area, and it was necessary to train the employees how to convince people that they needed the products. The employees were trained to choose their customers carefully. They adapted the direct sales method to educate customers by demonstrating items in the customers’ residences. By staying customer focused and addressing all questions, the demand in India grew.

Sample Module: Review Questions

1. When should you ask a question?

a) Early in the conversation b) Late in the conversation c) When the prospect is done speaking d) Before the prospect speaks

2. What is not a way to ask a question?

a) By arguing b) Maintain eye contact c) Being prepared d) Positively

3. What is the appropriate response for a client who says your product does not meet their needs?

a) May I ask what you are comparing it to? b) May I ask what you find lacking? c) May I explain how we can increase your profit margin? d) Why don’t you make a decision now?

4. What is the appropriate response for a prospect who says that they will have to think about a decision?

a) May I ask what you are comparing it to? b) May I ask what you find lacking? c) May I explain how we can increase your profit margin? d) Why don’t you make a decision now?

5. What is a good strategy if a customer claims not to need your service?

a) May I ask what you find lacking? b) May I send you my information, and you can contact me should you need our services? c) Are you completely satisfied with your current service? d) Could I discuss the needs of your company with you first?

6. What is an effective strategy if a prospect claims that something is not affordable?

a) Will you allow me to discuss different options that will fit into your budget? b) Could I discuss the needs of your company with you first? c) Are you completely satisfied with your current service? d) May I explain why our company stands out?

7. What method did Eureka Forbes use to sell products?

a) Indirect selling b) Direct marketing c) Direct selling d) Indirect marketing

8. What did employees need to do to convince customers to purchase products?

a) Make promises b) Use indirect marketing c) Create a demand d) Educate customers

Instructor Guide Sample

On the following pages is a sample module from our Instructor Guide. It provides the instructor with a copy of the material and a Lesson Plans box. Each Instructor Guide and Training Manual mirrors each other in terms of the content. They differ in that the Instructor Guide is customized towards the trainer, and Training Manual is customized for the participant.

The key benefit for the trainer is the Lesson Plan box. It provides a standardized set of tools to assist the instructor train that particular lesson. The Lesson Plan box gives an estimated time to complete the lesson, any materials that are needed for the lesson, recommended activities, and additional points to assist in delivering the lessons such as Stories to Share and Delivery Tips.

Sample Module: Getting to the Bottom When handling objections, you need to ask the right questions in order to develop a positive rapport. Every salesperson should be prepared to face objections. Most customers have the same common objections. This means that you should have a number of appropriate questions ready to handle the different objections.

Successful people ask better questions, and as a result, they get better answers.

Lou Holtz

Asking Appropriate Questions

Estimated Time 20 minutes

Topic Objective Recognize the importance of asking appropriate questions.

Topic Summary Asking Appropriate Questions

Understand the guidelines for asking appropriate questions.

Materials Required Worksheet Four: Appropriate Questions

Planning Checklist None

Recommended Activity Complete the worksheet individually. Break into small groups and discuss your questions before you review as a class.

Stories to Share Share a personal story about a time a sales representative asked you an inappropriate question, or have the participants share their own examples.

Delivery Tips You can skip the class discussion, if time runs out.

Review Questions What should you do if a customer is wrong?

We have already established that you need to translate objections into questions. It is important to remember, however, that asking the wrong questions or even asking the right question in the wrong way will not encourage your prospect to make a purchase. You need to remain professional at all times, and never take objections personally. When asking questions, there are a few things you need to remember to do and not to do.

How to Ask Questions:

• Allow the customer to finish: Always ask the question when the customer is done speaking.

• Be positive: Believe in your product and allow the customer to see that in your demeanor.

• Maintain eye contact: Keep appropriate body language to earn trust.

• Be prepared: Work testimonials and statistics into your questions.

How Not to Ask Questions:

• Do not argue: Being defensive or sarcastic will not win any new customers.

• Never tell the customer that they are wrong: Even when people are wrong, avoid pointing it out. Say something like, “Did you know….”

• Do not accuse the customer of not understanding something: Make sure that your questions are not insulting. Ask for clarification rather than insulting a prospect’s intelligence.

Common Objections

Estimated Time 20 minutes

Topic Objective Recognize how to overcome common objections.

Topic Summary Common Objections

Practice reacting to common objections.

Materials Required None

Planning Checklist None

Recommended Activity Split into partners and practice personalizing your responses to the objections.

Stories to Share Share that it is important to personalize these questions, particularly in B2B organizations. Many business people are familiar with these sales objections, and you should not sound like you are reading from a script.

Delivery Tips Demonstrate how you personalize your responses.

Review Questions What is a common objection?

There are several common objections that people may give after they listen to your sales pitch. There are some basic questions that will help you respond to these objections.

Common Objections and Answers:

• Your product is expensive: May I ask what you are comparing it to? Did you know that the quality of our product results in fewer purchases from our customers?

• I’m not interested: I understand that you are not interested at this time, but may I explain how we can increase your profit margin?

• I need to think about it: Why don’t you make a decision now so you can focus on your current needs?

• Your product does not meet our needs: May I ask what you find lacking?

Basic Strategies

Estimated Time 20 minutes

Topic Objective Recognize how to respond to basic objections.

Topic Summary Basic Strategies

Practice reacting early to objections.

Materials Required None

Planning Checklist None

Recommended Activity Split into partners and practice personalizing your responses to the objections.

Stories to Share For techniques to help overcome sales objections, view the following video: http://www.youtube.com/watch?v=Ng8vyrPATNQ

Delivery Tips Demonstrate how you personalize your responses.

Review Questions Why is technology such a complex issue?

Sometime objections are made before you even have the opportunity to discuss the project. This does not mean that you have to give up. There are simple strategies that may lead to closing a sale.

Basic Objections and Strategic Answers:

• I’m too busy to talk about this: I realize you are busy, is there a better time for me to call back?

• I do not need this now: May I send you my information, and you can contact me should you need our services?

• Send me the information: Could I discuss the needs of your company with you first, so I can send you the information pertaining to what your company specifically needs?

• We cannot afford this: Will you allow me to discuss different options that will fit into your budget?

• I already have a vendor: Are you completely satisfied with your current service? May I explain why our company stands out?

Case Study

Estimated Time 10 minutes

Topic Objective Contemplate the case study.

Topic Summary Case Study

Use the case study to consider how to overcome basic objections.

Materials Required None

Planning Checklist None

Recommended Activity Ask the participants what objections the employees probably heard most.

Stories to Share None

Delivery Tips You may need to begin the discussion.

Review Questions Why was it necessary for the employees to receive special training on how to sell the product to prospective customers?

Eureka Forbes was the first company to introduce vacuum cleaners and water filters to India. The products were not known in the area, and it was necessary to train the employees how to convince people that they needed the products. The employees were trained to choose their customers carefully. They adapted the direct sales method to educate customers by demonstrating items in the customers’ residences. By staying customer focused and addressing all questions, the demand in India grew.

Sample Module: Review Questions

1. When should you ask a question?

a) Early in the conversation b) Late in the conversation c) When the prospect is done speaking d) Before the prospect speaks

Ask questions when the prospect is done speaking. This is common courtesy and makes the question more relevant.

2. What is not a way to ask a question?

a) By arguing b) Maintain eye contact c) Being prepared d) Positively

Do not argue with a prospect. The other answers are useful for asking questions.

3. What is the appropriate response for a client who says your product does not meet their needs?

a) May I ask what you are comparing it to? b) May I ask what you find lacking? c) May I explain how we can increase your profit margin? d) Why don’t you make a decision now?

A product not meeting needs is a common objection. It is important to find out what is lacking.

4. What is the appropriate response for a prospect who says that they will have to think about a decision?

a) May I ask what you are comparing it to? b) May I ask what you find lacking? c) May I explain how we can increase your profit margin? d) Why don’t you make a decision now?

Taking time to decide is a common objection. Prospects are less likely to call back if they say that they need to think about it.

5. What is a good strategy if a customer claims not to need your service?

a) May I ask what you find lacking? b) May I send you my information, and you can contact me should you need our services? c) Are you completely satisfied with your current service? d) Could I discuss the needs of your company with you first?

A prospect may dismiss your call by saying that the service is not needed. It is appropriate to ask about sending information.

6. What is an effective strategy if a prospect claims that something is not affordable?

a) Will you allow me to discuss different options that will fit into your budget? b) Could I discuss the needs of your company with you first? c) Are you completely satisfied with your current service? d) May I explain why our company stands out?

You should be willing to negotiate with prospects. If a prospect cannot afford your offer, attempt to find something that will work.

7. What method did Eureka Forbes use to sell products?

a) Indirect selling b) Direct marketing c) Direct selling d) Indirect marketing

The company trained employees in direct selling. This included demonstrating products in homes.

8. What did employees need to do to convince customers to purchase products?

a) Make promises b) Use indirect marketing c) Create a demand d) Educate customers

Because the products were new, it was necessary to educate customers. This involved answering questions.

Activities

During the facilitation of a lesson Worksheet or Handout may be utilized to help present the material. If a lesson calls for a Worksheet or Handout it will be listed in the Lesson Plan box under Materials Required. The trainer can then utilize the Activities folder for the corresponding material and then provide it to the participants. They are all on separate Word documents, and are easily edited and customized.

Below you will see the Worksheets or Handouts that are utilized during the training of the above lesson. They are located in the Activities folder and can be easily printed and edited for the participants.

Sample Worksheet: Appropriate Questions

Write appropriate questions for each objection.

1. Your company has the most expensive product in town. ______________________________________________________________________________

______________________________________________________________________________

2. I’m not convinced that we need a new vendor, at the moment.

______________________________________________________________________________

______________________________________________________________________________

3. You do not offer all of the products that we need. ______________________________________________________________________________

______________________________________________________________________________

4. I do not know enough about your company to make a deal right now. ______________________________________________________________________________

______________________________________________________________________________

5. There is a recession, and I’m not ready take on another service.

______________________________________________________________________________

______________________________________________________________________________

Quick Reference Sheets

Below is an example of our Quick reference Sheets. They are used to provide the participants with a quick way to reference the material after the course has been completed. They can be customized by the trainer to provide the material deemed the most important. They are a way the participants can look back and reference the material at a later date.

They are also very useful as a take-away from the workshop when branded. When a participant leaves with a Quick Reference Sheet it provides a great way to promote future business.

Skepticism

• Lack of Rapport: It is important to develop a rapport. This requires listening and showing genuine interest in the prospect.

• Poor questions or answers: When speaking with prospects you need to ask questions that will uncover the needs of your prospects. You also need to answer the potential customers’ questions completely. Do not minimize their questions.

• Moving too fast: Never rush a presentation. People tend to feel you are less than truthful when they feel rushed.

• Overpromising: People do not trust promises that seem too good to be true. It is essential that prospects understand how an organization will meet its promises.

Stalling

Occasionally, prospects turn to objections in order to avoid making a decision. There are different reasons why people stall when they are with sales representatives. It is important to understand why people stall in order to determine how you should proceed.

Reasons:

• Not authorized to decide: If the prospect is not authorized to make the final decision, meet with the person who is.

• Other interviews: People want to compare companies. Try to make sure that you are the final interview.

• Not convinced: If a prospect is not convinced, ask what questions you can answer to help.

• No time: Set a definite time to meet with a busy client.

• No money: If a prospect cannot afford your product, try to fit in their budget.

Translating the Objection to a Question

Objections can indicate that a prospect is interested in what you have to say. Therefore, objections should be welcomed and encouraged. It is possible to translate objections into questions. Practicing this technique will provide the opportunity to understand exactly what the prospect objects to and alleviate any concerns by answering their questions.

Example:

So, you are saying that you are concerned that product will expire before you use it all?

Overcoming Sales Objections

www.corporatetrainingmaterials.com © Corporate Training Materials

Certificate of Completion

Every course comes with a Certificate of Completion where the participants can be recognized for completing the course. It provides a record of their attendance and to be recognized for their participation in the workshop.

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PowerPoint Sample

Below you will find the PowerPoint sample. The slides are based on and created from the Training Manual. PowerPoint slides are a great tool to use during the facilitation of the material; they help to focus on the important points of information presented during the training.

Full Course Table of Contents

Preface ..............................................................................................................................................4

What is Courseware? ................................................................................................................................ 4

How Do I Customize My Course? .............................................................................................................. 4

Materials Required ................................................................................................................................... 6

Maximizing Your Training Power .............................................................................................................. 6

Module One: Getting Started .............................................................................................................8

Housekeeping Items.................................................................................................................................. 8

The Parking Lot ......................................................................................................................................... 9

Workshop Objectives ................................................................................................................................ 9

Pre-Assignment Review .......................................................................................................................... 10

Action Plans and Evaluation Forms ........................................................................................................ 10

Module Two: Three Main Factors ..................................................................................................... 11

Skepticism ............................................................................................................................................... 11

Misunderstanding ................................................................................................................................... 12

Stalling .................................................................................................................................................... 13

Module Two: Review Questions .............................................................................................................. 15

Module Three: Seeing Objections as Opportunities ........................................................................... 17

Translating the Objection to a Question ................................................................................................. 17

Translating the Objection to a Reason to Buy ........................................................................................ 18

Case Study ............................................................................................................................................... 19

Module Three: Review Questions ........................................................................................................... 20

Module Four: Getting to the Bottom ................................................................................................ 22

Asking Appropriate Questions ................................................................................................................ 22

Common Objections ................................................................................................................................ 23

Basic Strategies ....................................................................................................................................... 24

Case Study ............................................................................................................................................... 25

Module Four: Review Questions ............................................................................................................. 27

Module Five: Finding a Point of Agreement ...................................................................................... 29

Outlining Features and Benefits ............................................................................................................. 29

Identifying Your Unique Selling Position ................................................................................................. 30

Agreeing with the Objection to Make the Sale ....................................................................................... 31

Case Study ............................................................................................................................................... 32

Module Five: Review Questions .............................................................................................................. 34

Module Six: Have the Client Answer Their Own Objection ................................................................. 36

Understand the Problem ......................................................................................................................... 36

Render It Unobjectionable ...................................................................................................................... 37

Case Study ............................................................................................................................................... 38

Module Six: Review Questions ................................................................................................................ 40

Module Seven: Deflating Objections ................................................................................................. 42

Bring up Common Objections First ......................................................................................................... 42

The Inner Workings of Objections........................................................................................................... 43

Case Study ............................................................................................................................................... 44

Module Seven: Review Questions ........................................................................................................... 45

Module Eight: Unvoiced Objections .................................................................................................. 47

How to Dig up the “Real Reason” ........................................................................................................... 47

Bringing Their Objections to Light .......................................................................................................... 48

Case Study ............................................................................................................................................... 49

Module Eight: Review Questions ............................................................................................................ 50

Module Nine: The Five Steps ............................................................................................................ 52

Expect Them............................................................................................................................................ 52

Welcome Them ....................................................................................................................................... 53

Affirm Them ............................................................................................................................................ 54

Complete Answers .................................................................................................................................. 55

Compensating Benefits ........................................................................................................................... 56

Module Nine: Review Questions ............................................................................................................. 57

Module Ten: Dos and Don'ts ............................................................................................................ 60

Dos .......................................................................................................................................................... 60

Don’ts ...................................................................................................................................................... 61

Module Ten: Review Questions .............................................................................................................. 63

Module Eleven: Sealing the Deal ...................................................................................................... 64

Understanding When It’s Time to Close ................................................................................................. 64

Powerful Closing Techniques .................................................................................................................. 65

The Power of Reassurance ...................................................................................................................... 66

Things to Remember ............................................................................................................................... 67

Module Eleven: Review Questions .......................................................................................................... 69

Module Twelve: Wrapping Up .......................................................................................................... 71

Words from the Wise .............................................................................................................................. 71

Review of Parking Lot ............................................................................................................................. 71

Lessons Learned ...................................................................................................................................... 71

Completion of Action Plans and Evaluations .......................................................................................... 72