Handling Objections

Remember – an objection is just a question your prospect has, that was not covered by you in your presentation. Now that you know this, choose to remove the fear you have over “rejections” or “objections” and get comfortable in your head that they are just asking for clarification – it is not because they don’t like you, your product, your service, or company.

The first objection you hear is usually not the true objection – the prospect is trying to create some time before they make a decision. There are typically 7 to 12 common objections in any industry. That is great news! You can choose to improve your objection handling techniques and responses knowing that you will only have a handful that you will need to start with and master. The first step is to identify the common objections in our industry:
“I need to think about it.”
“I don’t have any money.”
“I need to talk it over with someone (spouse, friend, parents, dog, cat, mail man!)”
“Can you fax me some information?”
“I don’t have the time.”
“I’m already spending a lot of money on marketing.”
“I already know about Send Out Cards.”
“We already tried it, and it didn’t work.”
“I am not interested.”

Techniques for your tool kit:
Here are several different techniques to address these objections:
1. Story – One of the most powerful ways to handle an objection is with a story. The reason stories are so persuasive is that they act as invisible selling. Stories also suspend time. Identify true stories that address the objection. One way to start off the story is by saying, “That reminds me of a story of a client who was in a similar situation. Let me share with you what they did…”
2. Question – You can answer an objection with a question. For example:
Objection: “The price is too high”
Response: “By too high, what exactly do you mean?”
Response: “How much too much is it?”
Response: “Compared to what?”
Objection: “I don’t have the time.”
Response: “When will you have the time?”
Response: “On a scale of 1 to 10, how motivated are you to move forward?”
Response: “What do you mean by that?”
3. Isolate – Isolating an objection is one of my favorite techniques. I like it because it is very effective and easy to learn:
Objection: “I don’t have the money.”
Response: “I can appreciate that. Other than the money, is there anything else that is preventing you from taking action today?” Be silent and listen for their answer.
Objection: “I don’t have the time.”
Response: “Other than the time, is there anything else preventing you from moving forward today?” Be silent.
4. Investigate – “Tell me more about that.” Listen to what your prospect is saying and assess if you can help solve his/her problem.

5. Always be sensitive to your prospects needs. There may be a lot of personal stuff going on in their life that has nothing to do with if they will use SOC or not. Remember a “No” today, doesn’t necessarily mean “NO” forever. Do not take a rejection/objection personally – it is all about timing.
a. Tell about my personal experience…Saw SOC at the Small Business Expo in April 2006, Said NO, because I made my own cards. Said yes, in June 2006 and made Sr. Mgr in November 2006. The person who enrolled me only called and left a message ONCE on my answering machine. I happened to bump into her at a networking group in June – imagine if I didn’t give her the courtesy of reminding her where we met – my entire organization would be under someone else!

6. I don’t know if this is a cost-effective way for me to communicate with existing customers, or attract new ones.
a. State “Why Customers Leave from Jordan’s web site” 68% of customers will leave because of “perceived indifference” they never hear from the company and never get a thank you. If you send one card a quarter to your customers expressing appreciation for their business, you will spend less than $5 per customer per year. It is much easier to keep great customers rather than trying to win them back!
7. I love your system, but I can’t afford it right now.
a. I understand – other than the money, is there anything else keeping you from moving forward today? Be quiet and let them answer. When would be a good date for me to follow up with you? Once the prospect gives you a date…MAKE SURE to write it in your planner/Outlook calendar/Blackberry, etc. and CALL HER BACK!
8. How to lead a prospect towards the Wholesale account or Entrepreneur Account.
a. There are three ways to get started (I use the click chart from the Main Menu “3 ways to become a sender of cards”) The Retail Account is for somebody like my Mom, not a business owner like you. She sends out the occasional birthday or holiday card to friends or family members. It is a one-time fee of $99 and she pays .98 a card plus a .42 cent stamp. The Wholesale Account is for business owners like you who want to get the best value for your marketing dollars. It is a one-time fee of $298, and the value is already built in – it comes with 100 cards pre-loaded into the account just like you sent to (mention recipient’s name they sent the first card to; it’s just like walking into Hallmark, picking 100 cards off the shelf, and going to the register – you know they will charge you $3-$4 per card so you would be paying $300-$400. It also comes with the handwriting font which is a $49 value and it is included in the one-time $298). The main difference between the two is that the Retail account does not come pre-loaded with any cards and does not come with the handwriting font…do you have any questions? Here is the critical part…I do not automatically start talking about the Entrepreneur account. I have already stated there are three ways to get started…they are now looking at the Entrepreneur title, but I have intentionally not clicked on the “detail” where it drops down the information in that column. People’s natural curiosity can not stand not knowing what that third option is, and so if they see I am not going to talk about it, they will ask “what’s the third option?” or “what is the Entrepreneur account” They have now invited me to talk about it. So as I click on the column to show the detail, I say “The Entrepreneur account is $100 more, it comes with the 100 cards pre-loaded, it also comes with the handwriting font, but the main difference is that this is the only account of the three that allows you to get your marketing dollars back. 85% of my savvy business owners will go with this one because they realize one person in their database getting started with the Wholesale or Entrepreneur account will get them a $120 check, which brings them back to the Wholesale cost.”
9. I can’t decide between the Retail or Wholesale Account.
a. If you compare both accounts side by side, with both accounts purchasing 50 points a month, you would end up spending $56 more if you bought the Retail Account vs Wholesale (If you add the handwriting font=$49, 200 points=$62 and 50 points per month=294 Total=$504 vs $484). Starting in year 2, you would save $108 per year with the Wholesale Account because points are .31 vs .49 in the Retail Account (plus with the Wholesale, you get 100 cards pre-loaded and the handwriting font). Remind them that they once they start sending out heartfelt cards, someone in their network will want to use our service, they can always upgrade their Wholesale account for $100 to the Entrepreneur Account.
10. I already spend a lot of money on marketing.
a. I understand, just out of curiosity, what kind of return do you get on the advertising you are currently doing? (Most people if they are being honest, will tell you they do not get many calls from an Ad in Yellow Pages, Magazines, etc.) If you use our system to send a client a card 4-5 times a year, you would be retaining them and getting new referrals for about $5.00 per client, rather than using a “machine gun” approach and hope someone lands on your ad.

11. My company will not allow us to use anything other than our corporate stationary. Relate story of Edward Jones…
a. I understand…how is that working for you? Listen to answer…Do you see yourself using this for personal use with friends and family members to help strengthen your relationships with them? Do you send out Christmas cards? How long does that typically take? If it’s a compliance concern, tell them we can create a campaign card, they can tell their legal department that the front and inside written message will never change and send in the printed screens to be approved.
12. My company (bank, Doctor’s office, Insurance Agency) is concerned about our client’s information being kept confidential. Is your web site safe to use? And, do they sell the client lists?
a. Our database is kept completely confidential and is double encrypted – which is the same security level banks use (https versus http). At no time does SOC sell or share personal information (you get your own web site with password that you create).
13. “Hello, this is Kristi Lee with SOC, we met the other day at the ___________________, did I catch you at a good time?” I always ask this question because this will have a huge impact on the quality of your call and your future relationship with this person. Respect their time and schedule, do not force yourself on the person – they will be distracted and it will not be a quality call.
a. If the answer is “NO”, then ask when would be a better time to call back. Then, make sure to follow through and call back!
14. I don’t have time to work this business
a. I will work with you to get your investment back, and if you want me to work any additional prospects then we can have you be the sponsor, and I will collect the coaching fee.
15. Do you see yourself using this system for your business and personal relationships? If the person truly is not interested, then…
a. ASK for referrals. Who do you know that can benefit from using our system?