You will often get a prospective customer argue over price. Here is a way of handling that objection.

1. Ask the question – “Compared to what?”
2. How much is that price?
3. Express the DIFFERENCE
4. Compare the benefit based on the difference

As an example, if arguing $125 for a competitor product vs $140 for yours, discuss the difference, which is $15

Features are facts that can be proven. Needs are a solution that a customer is seeking. Benefits are when a Feature meets a Need.

1 Links to Features….

“One of the products…”
“a Nice thing about…”
“A unique feature of…”
“An important component…”
“The advantage…”
“A service we provide…”
“Our product is especially designed…”
“You’ll be pleased to know…”

2 Links to Benefits…

“As a result…”
“A great benefit to you…”
“This will enhance…”
“Therefore, this will eliminate…”
“Which means to you…”
“This will save…”
“What this gives you…”
“Consequently,…”

3 Link it back to Needs…

“Another element…”
“You also mentioned…”
“Another aspect…”
“You also indicated…”
“In addition…”
“Another factor mentioned…”
“Coming back to…”
“Another point discussed…”

With similar competitor products, the differentiator becomes your impact on the customer.

Selling is motivating customer commitment:

• transferring knowledge / information
• understanding the customer’s needs
• convincing the customer that you have something they need
• understanding your competition
• standing out from the competition
• talking to the right person

The Sales Funnel is a way to ensure you have understood the customer’s need. This will give you the clarity to understand whether the solution you have will meet this need, so you can progress to closing the sale.

The approach has 5 steps.

1. Motivator
2. Open Neutral Question (ONQ)
3. Open Leading Question (OLQ)
4. Closed Question (CQ)
5. Summary
6. Sweeper

Motivator - “How are you?” / “How has your day been?”

ONQ – “Are you in the market for a new car?”

OLQ - “What do you know about All Wheel Drives?”

CQ - “Would you be interested in buying today?”

Summary – “So just to confirm: you are safety conscious, are in the market for a car, and would like to buy today”

Sweeper - “Are there any other features ir options you would like on the car?”

It is most effective to hold off on the solution, when doing the summary – this is more effective.

And remember: True communication is the RESPONSE I get…

When you encounter an objection from a potential customer, do this:

1. PAUSE
2. “Tell me more…”
3. Empty the customer
   Ask – “Is there anything else?”
4. Lock the customer
   Ask – “If I were to …. would you …”
5. Present a counter solution
6. Confirm the details

The Rules for handling a sales objection are:

• RECOGNIZE IT
• ASK THE QUESTION – “Do you have any problems with … Are there any issues we haven’t discussed?”
• SEIZE THE MOMENT

And remember,

• Never take it personally
• Listen and be interested
• Don’t blame
• Stay calm

This simple 10 point check-list will help you determine whether all bases have been covered, so you have the maximum likelihood of closing the deal:

1. Have all NEEDS been agreed with the customer
   (What are they? How did you agree them?)
2. Do you have an effective SOLUTION?
   (What is it?)
3. Is your solution financially JUSTIFIABLE?
   (How do you know?)
4. Is the expenditure in the BUDGET? Is FINANCE available?
   (How do you know? How much is it?)
5. What is their BASIS OF DECISION?
   (What are their evaluation criteria?)
6. What is their DECISION MAKING PROCESS?
   (Who are the players? How do you know what roles they are playing?)
7. Do you have ACCESS to their decision makers?
8. Why US – all things equal, would they rather do business with us or someone else?
9. What is the TIMING? When will they make their decision?
10. Where do we stand in relation to our COMPETITORS?

Give each point a rating out of 10, then Total them.