Overcoming Objections

By Don Kyle

In my last article, I discussed the importance of an effective sales script.  One of the points I raised was to “address and overcome common objections prior to being raised.”

If you prepare your presentation strategically, responses to the most common objections can be incorporated, thereby overcoming them before they are even raised by your prospect.

Some of the more common objections I have seen include:

• Price,
• Competitor products or services,
• No need for the products or services, and
• No room left in the budget.

There are effective ways to respond to these after they are raised by your prospects; however, if your pre-responses are effectively included as part of your presentation, there only would be a need for clarification and follow-up.

For example, price can be addressed by including “returns on investment” (ROI) others have achieved using your product or service.  By demonstrating how they achieved ROIs that far exceeded their outlay and generated new customers and revenues, the price objection can be overcome.

When it comes to competitors, never speak badly of them.  Instead, you should point out some of your competitors, stating they are very good as well, and highlight the key advantages of your products and services.

Often, a prospect may bring up the topic of not needing your product or service as a stall tactic.  If you do your homework and know that you probably can help the prospect, you can point out in your presentation how your products or services can provide a competitive advantage in the market place and help grow the prospect’s business.

Finally, I have heard many prospects state that there was no room left in their budgets.  I have found that the best way to approach this objection is to reinforce your discussion on the ROI and competitive advantages that can be achieved through the use of your products or services.  If you are still unable to overcome this objection, you always can reschedule for a later date when the prospect is ready to prepare their next budget.

Please feel free to contact me with any questions about growing your business.

Don Kyle is the CEO and Founder of Small Bizz MBA, a company which assists businesses with their marketing, branding and advertising needs.  (404) 580-6331, dkyle@smallbizzmba.com

Should I Use A Sales Script?

By Don Kyle

How often have you been in a position where someone is trying to convince you that his or her products or services are the best thing since sliced bread and that you MUST take advantage of the opportunity?  How convinced were you in these situations and how often have you actually purchased?

First of all, keep in mind that people in business are always in sales positions.  After all, without sales, you have no business.  Over my career, I have observed that many people make the mistake of not being prepared in these sales situations.  In fact, most are not.

Being prepared does not simply mean remembering and reciting a script.  Most scripts I have seen do not address the key points necessary for an effective, convincing presentation.  Several key points I would recommend for an effective sales presentation include the following.

1. Put the prospect at ease,
2. Present the benefits of your product or service, with total product (service) knowledge,
3. Address and overcome common objections prior to being raised,
4. Have passion for what you are offering,
5. Perform the presentation in a manner that matches your persona, and most importantly
6. Ask for the sale.
   

I have seen a great presentation on paper become a disaster when actually presented, due to a lack of passion and belief in your product or service.  I believe this one aspect, along with product (service) knowledge, can make or break your presentation.

Furthermore, conducting your presentation in a manner that is not natural to you can cause the prospect to feel he or she is just another sales target.  Therefore, it is critical to practice your presentation until it becomes a part of you.

Finally, you must ask for the sale.  I was recently a party to a sales interaction where it appeared to go very well.  In the end, however, the presenter did not ask for the sale.  No conclusion was reached and no follow-up steps were discussed — it was simply a business discussion between people.  So ask for the sale or at least agree to follow-up!

Please feel free to contact me with any questions about growing your business.

Don Kyle is the CEO and Founder of Small Bizz MBA, a company which assists businesses with their marketing, branding and advertising needs.  (404) 580-6331, dkyle@smallbizzmba.com