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November 18, 2012 By Pensare Group Leave a Comment

When Objections Give You an Advantage

“Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.”  -Michael Jordan

wall_as_obstacle

 

Michael Jordan is right, of course. But in the sales context, let’s take that one step farther. Don’t just think about how to overcome objections … figure out how to use it to beat the competition.

Objections can come at any point in the sales process. An objection is a legitimate concern about you, your organization or the product you are offering. And it’s important for you to anticipate and unearth objections as early as possible to turn them to your advantage

Here’s an example. Let’s assume your service is significantly more expensive than the competition because you provide follow-up customer support others don’t offer. Most likely your prospect knows the competition is cheaper.

Confront the objection head on and early on by introducing the issue first.  If you put it on the table, you recognize the concerns and are able to openly position around the objection.  Use questions like “What have you experienced in the past buying [XYZ]?”  “What have you seen in the market that you like?…Don’t appreciate?”  Listen and learn. Then, you’re ready to address the common objections that might rise in their context.

Once you understand someone’s experiences – good and bad – you can begin to anticipate what the prospect is thinking and position how your approach brings value.  In some cases, you can shift your approach to address his concerns. For example, if someone finds it difficult to swallow $50K because once he took the risk and the vendor didn’t deliver. Maybe you can work on options that reduce the prospect’s risk– he might even pay more for the peace of mind!

It helps to contrast benefits of having what you offer with the consequences of not having it. In the example above, you might make the case that your approach saves the prospect frustration and staff time, thereby making your offering more cost-effective in the long-run. If you really want to bring the point home, use a strategic bragging story to bring it to life. Be sure to use concrete data when relaying how your service saved another customer time or money.

Use questioning techniques to get information on possible objections first. Ask what the prospect thinks are the biggest obstacles to make sure you’re not assuming but listening.  Confirm that your understanding of the obstacles is correct – this often surfaces new information you would not otherwise get.

Most importantly, control the objections dialog by putting objections on the table as early as possible rather than waiting for the customer to bring them up at the end.

These tactics are more likely to yield the response you want:  a positive decision when you ask for a commitment.  By anticipating the prospect’s concerns you have simplified her ability to commit. By connecting solutions to objections to value that’s prized by your prospect, you’re building credibility demonstrating you anticipate her needs, understand the value of her time and anticipate the sunk cost and frustration of wasted staff time.

Filed Under: Objections, Obstacles, Questions, Sales, Uncategorized

April 23, 2011 By Pensare Group Leave a Comment

Mid-level Managers – The Secret Engine of Growth (Part II)

iStock_000020656499_ExtraSmallEnter any car dealership and chances are that you’re quickly dazzled by the shiny models on display. The chrome glistens. The leather entices with that brand new smell we all love. The vivid reds convey excitement and the metallic neutrals exude elegance and success.

Unless you are a true car aficionado, you probably won’t give the engine much thought. In fact, most buyers won’t even bother to look under the hood. But beyond the glitz andsparkling alloy wheels, the engine is the most vital part of the car. Without it, you won’t go anywhere. The same can be said for the mid-level managers (MM). An organization that lacks strong MMs won’t get very far.

Why MMs Are More Important than Ever

A strong management team is essential to a successful organization. Culling middle management from within the company yields high-impact results. Yet in reality, MMs are often hired from outside. Why? I’m not sure. Developing staff from within must seem more daunting than hiring someone from the outside with, in theory, the right skillset. The more I think about it, this approach is silly. When was the last time you highlighted your shortcomings on your resume? Seems like an unfair comparison, doesn’t it?

Making a commitment to develop MMs from within not only underscores the corporate philosophy, branding and culture but also boosts morale and motivation by reinforcing the values the company rewards – a visualization of personal future success. Employees naturally see their future career opportunities within the company, unless they do not share the same vision.

Where Do You Start?

When developing MMs, technical skills alone are not enough – yet that’s how MMs identify their own success. MMs must be given the opportunity to expand beyond their technical abilities, learn new methods and grow beyond their current capabilities. If you’re a manager responsible for MMs, focus on helping them:

Exercise diplomacy. Middles are well-known for their ability to appease others, yet often defer to senior managers during difficult situations. Help MMs by exploring alternatives and developing an approach that works for that MM; keeping in mind your approach may – or may not – be natural or comfortable to the MM.
Be adaptable. Middles, by nature, must be flexible since they can be overlooked, discounted, bumped into a new role at whim or expected to shoulder unrealistic burdens. Help Middles adapt by understanding how they see the situation. Allow them to borrow your knowledge rather than just telling them what to do.
Look at the big picture. The most successful MMs explore all aspects of a problem and look at all potential solutions before implementing a plan. This ability to think strategically is essential to a strong MM, yet many need permission to think so broadly.
Bring out the best in your team. A good MM allows the team to participate in decisions then rise to the occasion and meet/exceed their expectations. Good MMs are enablers, but for time efficiency we often skip the enabling process. Create a safe environment where teams can develop ideas, act upon them and then follow up understand the effectiveness of their decision-making. Growing together creates solidarity and trust – a cornerstone of teams that excel.
Focus on results. In the same vein as ego, a strong MM does what it takes to achieve the results that align with corporate objectives. Sometimes, that means setting aside agendas or ideas about how the results will be attained. Let others figure out the how. Who knows, you might learn something new.

Why Bother?

While it is important for MMs to be proactive within their positions, it behooves the organization to be just as hands-on in ensuring that they have a strong middle management team. Why? The reasons are plenty:

Reduce costs. Workplace stress and burn out costs organizations more than $300 billion annually in absenteeism, health care and stress-reduction programs, according to 2004 New York Times article. Bolster your mid-section and you’ll see a boost in your bottom line.
Improve morale. An inefficient, unstable workplace only compounds the duress MMs face. When MMs are valued and supported, they are better equipped to ensure that their employees are happy and well-cared for, which improves morale across the organization.
Higher productivity. Happy workers are busy workers. Better morale among MMs and workers translates into greater productivity.
Better employee retention. Successful MMs retain loyal employees. According to the U.S. Bureau of Labor Statistics, 23.7% of U.S. workers voluntarily left their jobs in 2006. As a result, direct replacement costs on a departed employee can reach as high as 50-60% of his/her annual salary, according to a Society of Human Resource Management report. What’s more, strong MMs also attract highly qualified employees who desire to work in a positive, successful environment.

Filed Under: Alignment, Efficiency, Productivity, Uncategorized

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