Episode 56 - The Psychology Of Objections

Closing a deal isn't about a slick line at the end of your presentation.  It's about understanding what your prospect is REALLY saying when they say things like "I need to think about it" or "I don't have the money."  First we need to figure out if we are dealing with a real objection or one that is just pure "venom."  If somebody is just objecting to be a pain in the butt, there isn't much you can do there other than to cut your losses. But if they have a genuine question or concern, or even a "knee jerk" reaction, that's something you can work with.  So what's a knee jerk reaction?  This is an instinctual resistance to being persuaded.  Your prospect doesn't feel good about doing business with you so they throw out something that's common to say like "I don't have money" or "I need to talk to my spouse."  The best way to reply to knee jerk reactions is with questions.  The more questions you can ask the more you flush out the real objection and the reason they feel uncomfortable.  It's important to evaluate at least twice a year where your leads are coming from.  Are you talking to prospects that have the ability to buy your product?  Continually upgrade the quality of your leads (to the extent that you can).  Beyond that, focusing on questions and continually drilling down to the prospects core need will eliminate knee jerk reactions.  How do you know you've drilled down far enough?  When the prospect starts talking about their problem on an emotional level.  Now you know you're in the zone.  On this episode Kurt and Steve also discuss how to handle situations where you persuade somebody who then has to take your product infront of a committee or supervisor...without you being present.  Be sure to tune into the episode to hear more!