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Addressing Concerns and Earning Commitment
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GOVT
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Addressing Concerns and Earning Commitment
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Explain why it is important to anticipate and overcome buyer concerns and resistance
Understand why prospects raise objections
Describe the five major types of sales resistance
Explain how the LAARC method can be used to overcome buyer resistance
Describe the recommended approaches for responding to buyer objections
List and explain the earning commitment techniques that secure commitment and closing
Learning Objectives
LEARNING OUTCOMES
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
2
Sales Resistance
Buyer’s objections to a product or service during a sales presentation
Viewed as opportunities to sell
Normal part of a sales conversation
Salesperson will have to:
Determine customer interest
Measure the buyer’s understanding of the problem
Correct handling ensures customer acceptance
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
3
8.1 Why Prospects Raise Objections and Strategies for Dealing with Them
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Exhibit
SELL5 | CH8
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4
8.2 Types of Objections
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Exhibit
SELL5 | CH8
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5
Negotiating Buyer Resistance - LAARC
Listen
Acknowledge
Assess
Respond
Confirm
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
8.8 Techniques to Answer Sales Resistance
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Exhibit
SELL5 | CH8
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7
8.8 Techniques to Answer Sales Resistance (continued)
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Exhibit
SELL5 | CH8
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8
Securing Commitment and Closing
Salesperson should allow the prospect to make a rational choice by giving him/her enough mental space
Commitment signals: Favorable statements a buyer makes during a sales presentation that signals buyer commitment
May be determined through the use of trial commitments
Trial commitment: Determines the attitude of the buyer toward a particular feature or benefit
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
9
8.10 Favorable Buying Signals
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Figure
SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
10
8.12 Techniques to Earn Commitment
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Exhibit
SELL5 | CH8
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11
8.13 Traditional Commitment Method
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Exhibit
SELL5 | CH8
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12
Ethical Dilemma
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SELL5 | CH8
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13
Sales resistance
Need objection
Product or service objection
Company or source objection
Price objection
Time objection
LAARC
Key Terms
Forestalling
Direct denial
Indirect denial
Translation or boomerang
Compensation
Questions or assess
Third-party reinforcement
KEY TERMS
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Key Terms (continued 1)
Commitment signals
Trial commitment
Direct commitment
Alternative/ legitimate choice
Summary commitment
T-account or balance sheet commitment
Success story commitment
Standing-room only close
Assumptive close
Fear or emotional close
Continuous yes close
Minor-points close
KEY TERMS
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Summary
Over the years, sales resistance has been viewed as opportunities to sell
Types of objections from the buyer
Need, product or service, company or source, price, and time
LAARC is an effective process for salespeople to overcome sales resistance
Earning or gaining commitment is the final aspect of the selling process
SUMMARY
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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SELL5 | CH8
Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.