Earning sales commission is about understanding objections.
Overcoming objections is still considered key to successful calls and earning sales commission. However, time is often wasted using information or specific techniques in the wrong way. This occurs when the salesperson hasn’t truly understood the situation that the catch-all term ‘objection’ is masking.
The four things prospect objections actually are:
1. A simple question
All this prospect actually requires is a piece of information. But the salesperson misinterprets and turns it into a problem. Here’s a simple example. A customer asks: ‘How much is that xxxx?’ The person simply wants to know, but the salesperson interprets it as a price objection!
2. A doubt
This isn’t the same as a clear reason for not being able to go ahead. Gently question the doubt and an answer can often be found that provides the reassurance the prospect is looking for.
3. A misunderstanding
Here the problem requires you to correct the prospect without annoying them. One great technique to remember is the 3Fs: feel, felt, found. For example, ‘I understand why you feel that way. Others have felt the same. Here’s what they found…’ If appropriate, a specific example can be used. You’ll find a more detailed explanation here.
4. A genuine limitation
If there are areas that your product or service does not cover, or there are other alternatives, the key is to outweigh what can’t be done. You can do that by making what you can do more valuable, or less risky, than the alternative.
How sales commission is truly earned.
The first step is recognising where your prospect’s objection truly lies in the above four possibilities. The second is dealing with it effectively. The third is to move past it towards completing the deal. It’s not unknown for the third stage to be replaced by a question asking if your answer helped – simply encouraging the prospect to stay in that moment!