Objections - An Enabling Sales Technology

Objections. You have heard them all before: I have no budget, I have no need, I am not interested or We are happy with our existing supplier. My favorite objection is Maybe later. All are the customer's way of saying no.

Classical sales training tells us that you have to hear no before you can hear yes. What this really means is that customers must purge themselves of all concerns, hesitations, and questions before they can buy. And if they dont get these things out their system they wont be able to go forward. These concerns manifest themselves as objections in the sales process. The astute sales person is on the lookout for these and we comes them.

Let the customer know that sharing these objections is the right thing to do and that they are smart to do so. This may seem opposite of what you might first think; many inexperienced sales people run away or avoid objections. Often objections are challenging and can end the sales process if handled poorly. Yet, closing your eyes and hoping they go away wont work.

Some say that an objection is a request for more information and a request for help. Expect to hear no. Better yet, plan on it. Respond by being understanding while probing for more information. No is an enabling sales technology.

Let the customer know that No is an acceptable ou come because you are here for the long run and want to build a long term relationship. This takes the pressure out of the sales process and allows the customer to explain more specifically his/her issues. This allows you the chance to provide a better solution.

Sometimes, you can ignore an objection. This can be a bit cocky because if the customer says it, then it needs to be handled sooner or later. I have found that this strategy works when someone hurls a volley of multiple objections at you. With this objection-handling strategy, you let him/her repeat the important objections and then you can address the important issues.

Some customers object on price because they feel that they have to; often this customer is a poor or inexperienced negotiator and feels that objecting once on price is enough or is an expected part of the process. Ignoring this objection can pay off with this type of buyer.

Most sales training suggests you turn around objections by restating them and taking the offensive. For example, the customer says the price is too high. You respond, If the price wasnt too high could you agree to proceed with the service? This seems a bit deliberate to me.

My thoughts are that objections are a part of a healthy sales process and are to be expected, if not desired, if you want the order. Greet them calmly and respond with calming words like I understand how you feel or I see or Others have felt the same way.

Next, probe more information with questions like:
- How so?
- Tell me more?
- What else?
- Tell me about it

Offer an explanation or more information to help the customer understand your offerings benefits. Then say:

- Have I answered your question?
- Does that help?
- Does that sound better?

Sometimes, the customer will continue to object. This means that they still need more information. Give them more. Then verify again that you have properly responded to the objection. If so, it can be appropriate to say, Thanks for asking me that (i.e. you are so smart) or That was a great question (i.e. you are so smart) or simply, Thanks.

Objections help you find the way to yes, so we come them. It is the customers way of asking for help because No is an enabling sales technology.

John Bradley Jackson brings street-savvy sales and marketing experience from Silicon Valley and Wall Street. His resume also includes entrepreneur, angel investor, corporate trainer, philanthropist, and consultant. His book is called First, Best, or Different: What Every Entrepreneur Needs to Know About Niche Marketing.

Check out his website at: here /blog

John Bradley Jackson Copyright 2006 All rights reserved.

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How To Succeed In The Stock Market?

It is the very trait of the securities markets to move backward and forward from one end to the other depending on the popular frame of mind and in such times, those who can part reason from sentiment can mark opening.

Well, there is a response in one of the proven portfolio investment line of attack - Asset Allocation/portfolio management. What is asset allocation? How does it work? How does it help an investor to invest opposing to the stock market?

Portfolio Management is the scientific process of separating all your money across various non-correlated asset classes. In simple terms, if your money is allocated between, bonds and, you have taken the first step.

One may consider various other investment options like property or gold but as they dont have an direct impact on stock exchange, therefore, we would not discuss that at present in this article. The second stride is to know how much money should be allocated in which of the options. Now this is a function of two things, the investment alternative has certain traits or uniqueness and the investor has certain financial objective as well as certain risk hunger.

This risk appetite is again a function of one's needs as well as mental ability to handle the unexpected. The science of asset allocation tries to put together a portfolio that matches the traits of the assets with the requirements of the investor.

There is a mixture of approaches to take on by different advisers to build portfolios for their clients largely keeping the clients' needs in mind. We will not get into the discussion of the same here since the result would be different for different investors since their requirements would be poles apart from one another.

Let us come back to the argument of what asset allocation can do and how it can help investors. We will try to keep it very easy only for the rationale of understanding. The actual portfolios or the realistic approach cannot be so straightforward.

Let us assume that after evaluating the needs of one of the customers, the consultant r commends investment of 700% of the assets in an equity mutual fund and 30% in a money market mutual fund.

The shareholder and the consultant then make a decision to appraise the performance of the portfolio every six months. The review process is also very simple. The objective would be to maintain the allocation between equity fund and money market fund at 70:30.

Given that the stock prices are volatile over shorter terms and move in line with the profits of the company over longer phase, we are likely to see the value of the equity mutual fund go up and down over time. When that takes place, the asset allocation would stray from the 70:30 that was set in the beginning.

When the equity prices move up faster than the debt prices, the allocation will get skewed in favour of equity and our review process would restore it back to 70:30 by shifting some money from equity fund to debt fund. In the other case, when the equity prices move adversely, the balance would get skewed towards debt and the balance can be restored by shifting from debt fund to equity funds.

In realism, the shareholder may get inflows, which require to be invested in the portfolio or have a need to take some money out of the investments. In such cases, at the time of investment or redemption, the investor has to look at the current market value of the equity fund and debt fund and rebalance the portfolio to 70:30.

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