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.Learn todeal with these two types and you will be successful.128Waugh 11 2/4/04 10:36 PM Page 129Handling ObjectionsTechniques for AnsweringObjections55ere are three ways to strongly answer objections.H1.Feel, Felt, FoundThis practical technique overcomes a stall or a very per-sonal objection.It can counter prospect hostility, pacify anunhappy client, or inform someone who does not yetclearly understand the value of the product or service.An-swer the objection with this language:I can understand how you feel.I have had otherclients who felt the same way until they found outthat.This approach serves several purposes.It shows theprospect that the seller understands the objection, and itreassures the prospect that having this kind of objection isnormal.Then the stage is set to introduce information thatcan change the prospect s way of thinking.This techniquesays that other people who are now clients had similar mis-givings but changed their minds after they considered newinformation.2.The Compensation or Counterbalance MethodIn some instances, an objection is valid and unanswerable.The only logical approach is to admit that you cannot re-spond to the objection and exit as gracefully as possible.This individual is not a qualified prospect (for example, noneed, no money).Do not waste your prospect s and yourtime trying to prove otherwise.129Waugh 11 2/4/04 10:36 PM Page 130101 Marketing StrategiesAt times, however, a prospect may buy in spite of certainvalid objections.Admit that your service does have the dis-advantage that the prospect has noticed and then immedi-ately point out how the objection is overshadowed by otherspecific benefits of the service.Your job is to convince theprospect that the compensating benefits provide enoughvalue that the disadvantage should not prevent the pros-pect from buying.By admitting the objection, you impressthe prospect with your sincerity and sense of fair dealing.This method works because the prospect is approachedpositively with an acknowledgment of expressed concerns,and then given a series of logical, compensating benefits tocounterbalance the stated objection3.Ask  Why? or Ask a Specific QuestionAsking questions is helpful not only for separating excusesfrom real objections but also for handling objections.Youcan use questions to narrow a major, generalized objectionto specific points that are easier to handle.If the prospectsays,  I don t like to do business with you, ask,  What is itthat you don t like about our firm? The answer may showa past misunderstanding that can be cleared up.If theprospect complains,  I don t like the look of your reports,ask,  What do you object to in their appearance? The ob-jection may be based on a relatively minor aspect that canbe changed or is not true.ConclusionBeing prepared to answer objections will make you more com-fortable developing this important skill.130Waugh 11 2/4/04 10:36 PM Page 131Handling ObjectionsHandling the Price Objection56o you often give discounts? If so, you may be losing moreDthan just money.Successful selling creates a win-win situa-tion: high profits for you and top value for your clients andprospects.If you don t defend your pricing, your clients andprospects may develop doubts about your value.Pricing is an emotional as well as logical issue.Understand-ing your prospects pricing emotions can help you to anticipateand handle price objections before they arise.There are threekey price emotions:" Price resistance" Price anxiety" Payment resistanceBe PreparedAnticipating price resistance will enable you to be preparedwith a strategy for handling the situation.Understanding howsticker shock and buyer s remorse occur just before and after apurchase decision will help you deal effectively with buyer anxi-ety.And payment resistance can be handled long before thecheck is cut.Some buyers habitually ask for a discount from everyprovider of goods or services.Here are three strategies to maxi-mize your pricing and your clients perceptions of value:1.Don t telegraph your willingness to discount.Business own-ers are savvy when it comes to purchasing goods and serv-131Waugh 11 2/4/04 10:36 PM Page 132101 Marketing Strategiesices.If you let them know you have a policy of discounting,you are inviting a lengthy series of negotiations over price.As you are beginning your presentation, say somethinglike,  We may not be the lowest priced firm in town, butthat s not what you re looking for, is it?2.Start your pricing at the highest expected amount.Don tsay,  We estimate our fees will be between $10,000 and$15,000. Say,  To do this right and achieve maximumvalue, I believe you may need to invest up to $15,000 withus. When you give a range, the prospect hears the low endwhile you are thinking the higher end.When you start atthe high end, you leave room for concession.3.Discuss price only after you have created value in theclient s mind.Talk about your responsiveness, your net-work of business contacts, your satisfied clients and yourfirm s reputation before covering price.Show yourprospect testimonial letters from happy clients.Create aperception of value, then cover price.ConclusionThere are pricing pressures in every business.By being pre-pared to sell value, you can help keep your price and your re-ceivables where they belong.132Waugh 12 2/4/04 10:36 PM Page 133C H A P T E RTWELVEPersuadingDecisionInfluencers57 Win Big with the  Strip Away58 Control the Sale with Better Questions59 Position Power Sells60 Closing the Sale61 Try the  Puppy Dog Close62 Winning Proposals133Waugh 12 2/4/04 10:36 PM Page 134Waugh 12 2/4/04 10:36 PM Page 135Persuading Decision InfluencersWin Big with the  Strip Away57ne of the most exciting plays in football is the  strip away.OA quarterback throws a perfect pass into the arms of hiswide receiver, just to have the ball taken away stripped awayby the free safety.The team that wins is usually the one thattakes the ball away.Stripping clients away from competitors is a game that onlythe best and most aggressive sellers can play.The strip away isnot for the faint of heart.But, so long as you play within therules, there are no ethical constraints.Other Firms Clients Aren t that LoyalA Novak Marketing study showed that only 25% of CPA firmclients are intensely loyal to their firm.The other 75% were am-bivalent or actively looking for another service provider.I thinkthe same loyalty factor is also true of law firms.If you are interested in playing the  strip away once in awhile, here are some tips:1.Don t accept the  I m happy with ABC Firm answer.Thestatus quo is never as permanent as it might seem.If youare a better fit, keep asking questions and discussing yourfirm s capabilities.2.Assume the prospect will switch if you can help him find agood reason.Without this mindset, other tactics are nothelpful.3.Find a small low-cost, low-risk service that is not being pro-vided by the present firm.For example, you might review135Waugh 12 2/4/04 10:36 PM Page 136101 Marketing Strategiesa person s will or her tax return with a fresh set of eyes orfor a second opinion.4.Be alert for communicating new benefits.If your firm de-velops a special expertise, or makes any change for the bet-ter, communicate  in person. Every time you promote aperson to partner, find time to visit all your best prospectsand introduce her.Find reasons to stay in touch.5.Look for changes [ Pobierz całość w formacie PDF ]