Transcript
Objection Management
A formula for getting from “no” to “yes”
Ben SardellaCo-Founder
@BenSardella
Steli EftiCEO
@Steli
Agenda1. How to overcome the most common objections
• What questions you’ll need to ask• How to respond
2. How to create your very own objection management document
• Why you need an OMD• What to include
No budget
Have I established value?
Am I targeting the right contact / department?
Is the pain urgent/large enough to justify?
Refer back to the mutually agreed upon
value proposition during the evaluation process.
No budget – how to respond
Reestablish the goals of your prospect’s specific unit, and look for ways
to impact other departments.
Discuss the opportunity cost of not making a
decision now.
Wrong contact
Do I fully understand my contact’s motivations?
Have I built enough confidence in my contact to be a champion?
Have I identified the value proposition for each contact role?
Wrong contact – how to respond
First, reiterate the value you can deliver for that individual – not anyone
else.
Arm them with an airtight value
proposition they can take to the decision-
maker.
Work with them to present the value proposition in a
successful way. (Extend trial, give credits, etc.)
Using a competitor
How deeply is my contact integrated with my competitor’s solution?
What does my contact like / dislike most about my competitor?
How do my competitive advantages map against their current pain point?
Using a competitor – how to respond
Focus on the positives of your solution, not the
negatives of your competitors’.
If possible, emphasize how your product fits
into their current stack. (Integrations, workflows,
etc.)
Define an evaluation process that draws out your strengths relative
to your competitor.
No time
What’s most important and urgent right now?
When would be a good time?
Is there a time-limited offer I can send?
Send more info
To send or not to send? (more information)
Is this just a convenient excuse to get off the phone?
How can I move the sales conversation forward and become more relevant?
Objection overkill
How can I help my prospect prioritize?
Should I just let them get it out of their system?
Ignore the nice-to-haves.
Too expensive
Did you talk price before value?
Is it really price?
Can I show how my price includes features competing vendors charge extra for?
Why create an OBM?
Harnesses the collective intelligence of the whole
sales team.
Ensures confident and succinct delivery in line
with company branding.
Frees up mental RAM (reps won’t always have
to be Johnny-on-the-spot).
Creating an OMD in 1 hour• Don’t focus on perfection –
focus on getting it done.
• Get together for one hour to write the first version.
• Write down the 10 most common objections you encounter.
• Write down the best answer to each objection in 3 sentences or less.
• Train your team to use the OMD.
Iterate and improve
• Hold monthly meetings.
• Collect feedback.
• Add more objections.
• Improve existing answers.
Assign a championSomebody in your team needs to…
• Make sure reps actually use the OMD.
• Encourage reps to take notes about objections and responses.
Close.io now integrates with Datanyze
Datanyze Insider – the all-in-one browser extension for
sales reps!
Free objection management template, built by Steli!
https://www.datanyze.com/product/#prospect
http://resources.close.io/objection-management-template
Questions?
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