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234 Lure Out Their Objections

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Manage episode 461434199 series 2553835
Content provided by Greg Story and Dr. Greg Story. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Greg Story and Dr. Greg Story or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Salespeople often hope for straightforward buyers who buy without hesitation. However, reality is rarely so simple, and objections are actually critical to the sales process. When buyers hesitate, it signals interest, as it means they are considering potential issues. If buyers show no interest and raise no questions, that’s a warning sign—they’re not truly engaged. Objections suggest a mental commitment to the purchase, as buyers are naturally cautious and want to resolve potential risks before moving forward.

In sales, objections reveal an intent to purchase and can guide us in addressing any reservations the buyer may have. When a buyer has no objections and doesn’t ask questions, they’re likely not invested in the product or solution, which could mean a failed sale. This is especially true in cases of high-cost or complex products; questions and objections indicate the buyer is working through a mental checklist and seriously evaluating the purchase. Addressing these concerns builds trust and moves the buyer closer to a decision.

In Japan, decision-making is often done collectively, through a process called the ringi system, where various stakeholders in the company must approve the purchase. The individual in the sales meeting may be gathering information for others, not the final decision-maker. Consequently, they may raise fewer objections, not because they lack interest but because they’re not the end-user or the final decision authority. This can be misleading for the salesperson, who may not realize they still need to engage other decision-makers.

A recent sales example illustrates this point: during a pitch to a financial institution with a scope ten times larger than they anticipated, the representatives raised few objections. This lack of questions signaled that they were likely not the decision-makers. This highlights the need to address the real stakeholders and make sure objections are raised and answered to progress the sale.

No objections can indicate that the salesperson hasn’t demonstrated enough value or urgency. The true objective isn’t just a one-time sale; it’s to build a long-term partnership and ensure reorders. To achieve this, buyers need to feel confident they’re making the best choice for their business, requiring the salesperson to prove the product’s value and address any concerns that could prevent future purchases.

Key Points

  1. Objections show genuine buyer interest and intent.
  2. No questions mean the buyer likely isn’t engaged or ready.
  3. In Japan, decisions often require broad approval, meaning the salesperson may not meet all stakeholders.
  4. Addressing objections builds trust and confidence, essential for long-term partnerships.
  continue reading

275 episoade

Artwork
iconDistribuie
 
Manage episode 461434199 series 2553835
Content provided by Greg Story and Dr. Greg Story. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Greg Story and Dr. Greg Story or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Salespeople often hope for straightforward buyers who buy without hesitation. However, reality is rarely so simple, and objections are actually critical to the sales process. When buyers hesitate, it signals interest, as it means they are considering potential issues. If buyers show no interest and raise no questions, that’s a warning sign—they’re not truly engaged. Objections suggest a mental commitment to the purchase, as buyers are naturally cautious and want to resolve potential risks before moving forward.

In sales, objections reveal an intent to purchase and can guide us in addressing any reservations the buyer may have. When a buyer has no objections and doesn’t ask questions, they’re likely not invested in the product or solution, which could mean a failed sale. This is especially true in cases of high-cost or complex products; questions and objections indicate the buyer is working through a mental checklist and seriously evaluating the purchase. Addressing these concerns builds trust and moves the buyer closer to a decision.

In Japan, decision-making is often done collectively, through a process called the ringi system, where various stakeholders in the company must approve the purchase. The individual in the sales meeting may be gathering information for others, not the final decision-maker. Consequently, they may raise fewer objections, not because they lack interest but because they’re not the end-user or the final decision authority. This can be misleading for the salesperson, who may not realize they still need to engage other decision-makers.

A recent sales example illustrates this point: during a pitch to a financial institution with a scope ten times larger than they anticipated, the representatives raised few objections. This lack of questions signaled that they were likely not the decision-makers. This highlights the need to address the real stakeholders and make sure objections are raised and answered to progress the sale.

No objections can indicate that the salesperson hasn’t demonstrated enough value or urgency. The true objective isn’t just a one-time sale; it’s to build a long-term partnership and ensure reorders. To achieve this, buyers need to feel confident they’re making the best choice for their business, requiring the salesperson to prove the product’s value and address any concerns that could prevent future purchases.

Key Points

  1. Objections show genuine buyer interest and intent.
  2. No questions mean the buyer likely isn’t engaged or ready.
  3. In Japan, decisions often require broad approval, meaning the salesperson may not meet all stakeholders.
  4. Addressing objections builds trust and confidence, essential for long-term partnerships.
  continue reading

275 episoade

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