Many believe that Objection handling is a part of Negotiation in a sale scenario.
Nope, Objection handling is not a part of the Negotiations process in any sales scenario.
Negotiation is a step post Objections Handling.
Negotiation is the balancing act between the value and price of the product post a sales decision has been made.
Objection handling is the process that enhances or devalues a product and thus affects sales decisions.
Types of Sales Objections
Objections in a sales process are limited to two areas only.
An Adherent Disadvantage is a product — missing features, services in comparison to the competition products.
Misunderstanding is the misinterpretation of product features or services by the Buyer.
Reason for Objections during the sales process
Objections are communication gaps between the Seller and the Buyer. Arising basically on account of
- Defect by design — To Reduce their net acquisition cost, companies may choose to appoint ushers. Ushers usually recite a parroted description of the product or service. A one-size-fits-all approach. Lack of company, Industry and Product Knowledge of the usher usually leaves the Buyer making sense of it all by himself.
- Product Knowledge Gap's — Sellers Lack of product knowledge contributes to fifty per cent of all the objections. The Sellers cannot comfortably describe a feature or features nither relate the benefits of feature to the Buyer.
- Communication Gap's — Obsessed orators often lack listening, testing understanding, and conditional commitment skills. They, after a stunning display, wait for an applaud rather than the order. The Buyer is flabbergasted and bewildered by the verbal slaughter he has been subjected to.
- The Showoff syndrome — Not much of a difference from our Seller's previous example, just that this one is technical. The Seller's use of technical jargon puts the Buyer into a dazed state of comprehension. Most Buyers choose to smile and walk away. While the Seller is adjusting his tie in pride. Business obviously doesn't happen.
- Sellers Attitude — A seller make a poor pre-evaluation of the Buyer. Sot the Seller based on his assessment, talk down upon the Buyer and provide basic information. The insulted Buyer chooses not to do business with the brand again.
The Art of Selling the Seller allows the Buyer to speak for two-thirds of the time. The self-satisfied Buyer is then just facilitated to the process of ordering.
Managing Objection during the sales process
Interestingly, Adherent Disadvantages is relatively an easy one to handle.
Objection handling can get tricky if the Buyer starts doubting the integrity and capacity of the Seller or his company.
Product misunderstanding can be handled with a display of the feature or sufficiently satisfying sight-sellers.
Sometimes, Buyers form a preconceived notion about a service, feature or company. The Seller has a Mountain to move in such cases. The efforts can be humongous, even bitter, if the Objection revolves around integrity and capacity.
In the case of an adherent disadvantage, the only way out is to Maximise the advantages of available features and services and minimise the weakness.
Conclusion
- The Seller makes all efforts to get as much information about the Buyer as possible and definitely understands the Buyers need.
- The Seller cultivates the skills to narrate buyer-specific advantages or benefits. And avoid feature recitations.
- The Seller shouldn't oversell; additional features post-purchase are treated as a delight by the Buyer; however, initially, they might become a source of objections.
