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Effective communication
Persuasion techniques
Closing a sale
A sales objection is an explicit expression by a buyer that a barrier exists between the current situation and what needs to be satisfied before buying from you.
In other words, it's a clear signal that you have more work to do in the selling process.
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4.09K reads
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What the buyer says: “Wow, that’s a lot. Can we do it for less?”
What it means: This comes from the buyer who always asks for a price reduction because it’s worked in the past. Their philosophy is that it can’t hurt to ask.
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1.03K reads
After you're confident you've uncovered all objections, address the most important objection first. Once you work through the greatest barrier to moving forward, other concerns may no longer matter as much to the buyer.
You should do your best to resolve their issue right away if possible....
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1.32K reads
Communicate a clear picture of the value of the solution you established in the selling process. The right buyer can usually “find” the money if the value is too strong to pass up—if the solution you’ve proposed answers their needs especially well.
Most times when buyers say, “Your price i...
504
1.17K reads
As much as you might like to respond, “You get what you pay for,” or, “Those are our fees and we’re worth every penny,” don’t. There's no glib, pat answer to money objections.
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1.44K reads
Your first reaction when you hear an objection may be to jump right in and respond immediately. Resist this temptation.
Instead:
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1.92K reads
What the buyer says: “It’s not in the budget.”
What it means:
(a) It’s true, and they’d like to see what can be worked out.
(b) It’s true, and they’re using that as a bargaining chip.
(c) It’s not true, and they’re just saying it.
482
953 reads
When faced with sales objections, don't lose sight of your end goal: overcome the sales objection and make advances towards gaining commitment from the buyer.
In a transactional sale, sellers are taught to overcome objections at all costs. This doesn't work for more complex sales. If you ju...
480
828 reads
Objections have merit: they're often a sign that something else is going on. Your purpose is to understand the objection fully, isolate it, and respond to it appropriately—not necessarily rebut, counter, and argue. You may need to build a case for overcoming an objection instead of answering qui...
485
888 reads
Sales objections often signal that you haven’t made the value proposition case to the buyer as powerfully as possible.
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2.51K reads
What the buyer says: “Oh, I don’t have the money. We’ll need to do it for less.”
What it means: The buyer has the money, but doesn’t want you to know that. It’s a ploy to see how low you’ll go.
490
1.05K reads
What the buyers says: “Too much money. Call me back if you can go lower.”
What it means:
(a) It’s a bluff, they assume you’ll come back with a lower price.
(b) It’s not a bluff, they hope you’ll lower price to do business.
480
918 reads
Price is often a “red herring” objection. Work to uncover the real objection. (Refer to the 6 types of money objections below.) Ask questions.
Find out if money is really the issue with one simple question: “If money wasn’t an object, what then?” This will usually lead you to the root obj...
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1.26K reads
Once you've responded to the buyer's objections, check if you've satisfied all of their concerns. Just because they nodded during your response doesn't mean they agreed with everything you said. Ask if the buyer is happy with your solution and explain your solution further if necessary. Sometimes...
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1.17K reads
Review the component parts of the solution. This may lead to either a reduction in scope or having the buyer realize the whole package is the best solution.
You’ll end up going down a slippery slope if you start justifying your price by what your costs are.
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1.07K reads
What the buyer says: “It costs too much. Money is going to be a problem.”
What it means: The buyer doesn’t see the value your solution delivers. Perhaps they can’t justify spending more than they did previously.
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1.03K reads
Don't appear to look upward for guidance at your organization, even if you might have to.
You may be dealing with the wrong buyer who isn't high enough in the organization or isn't the economic decision-maker. Money is certainly an objection for them because they can't pull the trigger eve...
480
997 reads
Many objections hide underlying issues that the buyer can't or isn't ready to articulate. Often the true issue isn't what the buyer first tells you. It's your job to get to the heart of the objection—to fully understand it and its true source.
To do this, ask permission from the buyer to un...
497
1.58K reads
If you’re willing to simply drop your price, you’re telling buyers this is the way you operate. Instead, explore new possibilities, change scope, or make a trade that could change the price.
An arbitrary price reduction can sow mistrust and set the precedent for lower prices for as long a...
498
1.04K reads
What the buyer says: “We received other proposals and your price is the highest.”
What it means:
(a) It’s true, and they’re using that as a bargaining chip.
(b) It’s not true, or at least not the whole truth.
483
972 reads
CURATED FROM
Turning a No Into a Yes
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Communicate a clear picture of the value of the solution you established in the selling process. The right buyer can usually “find” the money if the value is too strong to pass up—if the solution you’ve proposed answers their needs especially well.
Most times when buyers say, “Your price i...
A Customer Access Map can help you identify organisations that customers belong to (if you’re selling to the public) or key deciders in the organisation (if you’re selling to a business).
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