The Most Costly Sales Objection Impacting your Business | Peak Performance Sales Training

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The Most Costly Sales Objection Impacting your Business

Sales Objection

The Most Costly Sales Objection Impacting your Bottom Line
Problem: You prospect is ‘Happy” with their current service provider.
The Bigger problem: Sales people hit a wall because they do not know how to deal with this sales objection without badmouthing or their body language conveys a negative message as rejection shows through (body language is 55% of communication).
Your Bottom Line Problem: Sales people fail to uncover what prospects are really saying; is it a real sales objection?. What often occurs is that prospects who may have some level of dissatisfaction, simply say they are happy. 
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Why? Many reasons! First and foremost decision makers/buyers all have a characteristic in common.They have the innate desire to be in, or at least to be seen as being in control. They do not want to convey their dissatisfaction because it may convey they have made a mistake in hiring their current service provider. Second what the prospect is really saying is that their current provider is their best option, only because they may not be aware of what options may be available that could actually increase effectiveness. 
There can be other reasons. The prospect may actually be happy, and believe that there is no room for improvement, however you will not really know this unless you press this matter to determine is the second reason shown above is the case. They may be content with their current service provider and change is more painful than the small bumps in the road that they obviously have lived through. This may be the case with Financial Advisors, Banks or other relationships that will require a lot of paperwork to properly make the switch.
Negative Ramifications to the Sales Person/Sales Organization How many potential sales have you walked away from, simply because the prospect has told you he or she was happy with their current supplier?
Aptitude VS Actual Application Is your competitor the best option? This is the question.
The best sales training, sales tips, books or sales seminars may help sales people with their overall sales aptitude: what they know and how they should handle this common sales obstacle. However, what they actually do in the heat of the moment is all that matters. The answer to the question of whether your competition is the best option is obviously no. How you convey this will determine your real outcome. Sales people can lack conviction in one or more areas. Most importantly. they may lack conviction in themselves, or their product or service, or their company, or they may lack conviction in their industry as a whole.
When challenged with having to convey value that far exceeds that of your competition, the sales person who lacks conviction will fail, regardless of what they know. The only thing that really matters is the answer your prospect gives for the question, “Is your competitor the best option”. This is not done through through badmouthing the competition. It is done through conclusion based selling. Through a series a questions you can allow your prospect to conclude that their other options, the competition failed to uncover or discover certain issues that you did, or they failed to identify certain post implementation problems that can result in back end expenses in the form of additional time, man hours, capital or even worse, client decay. can provide a solution to your prospects needs, as can your competition. However top producers have two things others in sales people do not have. Foresight, a component of ‘effective management” and compassion.
A sales person must have the foresight to identify post implementation problems. When you think about it, isn’t it just these post implementation problems that have you there to begin with? In other words what did the incumbent fail to prevent! You must show compassion by asking the prospect, “Mr/Ms. Prospect, post implementation what are the three biggest concerns you have that you would absolutely need a level of certainty on? Regardless of how they answer you your response should be, “Well, is that the way you answered that same question when the others (competition) you are looking at asked? Chances are they never did ask! Therefore, inevitably when these back end concerns do come to the surface, who pays for that.
That’s right, the prospect? Click Here to Call 866-816-0991 to discuss viable options