You’re shopping for a new car. You’ve researched the models, know your budget, and have identified some dealers where you can both trust them and feel you could get a good deal.
So you’re about to make a deal. It’s the make, model and color you want. But, there is anxiety. That’s a lot of money for a car (you fondly remember your first car, and it cost less than $10,000 new). This is a good manufacturer, but are any of the new cars that reliable anymore? Would I be better off buying a “pre-certified” used car, and not absorbing the automatic one-third depreciation as soon as I drive it off of the lot?
Price, reliability and value. Three very common objections that buyers raise when they buy a car, or anything for that matter. Is the price fair? Is the product reliable? Am I getting value for my money?
Obstacles
As objections, salespeople are trained to overcome them. Listen to the customer, and then show them in a rational and clear manner why their objection is not valid. Price is too high? In comparison to similar models, you get the following features, plus you get additional features such as … , all for an equal price. Or: independent surveys have measured our reliability against other manufacturers, and we are rated No. 1 or No. 2 in every category.
Overcoming objections is like statistics – you can get them to say whatever you want. When a customer is raising objections, they are usually not doing so for factual reasons. Rather, they are objecting because of an emotional issue underlying their reticence to buy.
Buying is an emotional process, it is not a factual process. Sure, there are factual analyses and decisions along the way. Specifications, capabilities, features, wish lists and other considerations all play into the process of identifying the product you want and the company you want to do business with. But when that process is nearing an end, the decision to buy becomes emotional.
Studies have shown that the two highest points of anxiety for a buyer are immediately before they make their decision, and immediately after they make their decision. Is this decision correct? Did I make the correct decision?
The best salespeople work with their customers to explore the emotions and the anxiety underlying the buying decisions. When a customer asks a question or raises an objection, the salesperson should try to understand what is motivating the concern. One of the best questions they can ask is – Tell me what’s behind your question? Or, Tell me what’s behind your concern?
Empathy
If you ask someone what’s behind their objection, they help you understand the anxiety they are experiencing. Understand the emotion’s driving behaviors, and you can better understand the behaviors. At that point, the salesperson no longer is overcoming objections. Rather, they are alleviating concerns and anxiety. This is an important distinction.
To overcome objections is a point – counterpoint discussion. There is inherently a winner and loser in this type of discussion. Understanding concerns and alleviating anxiety is an aligned activity that creates a mutually satisfactory outcome. There is satisfaction for all parties in this type of transaction.
Next time a customer raises an objection, don’t immediately try to overcome it. Validate it. Explore it. Understand it. Align with the customer instead of “overcoming” the customer.
Ken Cook is managing director of Peer to Peer Advisors, an organization that facilitates business leaders helping each other. You can reach him at kcook@peertopeeradvisors.com.
