We recently wrapped up our final in home sales webinar of 2012, and we received an abundance of questions from the registrants. As promised we are going to post some of them here.
Q: We only sell metal roofs…why would I discuss other product options with a customer?
A: It is important to think like your prospect/customer. Suppose they are examining a metal roof as an option to other forms of roofing. A good sales methodology takes this into consideration.
Think about it this way. Their first option may be to do nothing. The second option might be to buy another product (possibly asphalt roofing) which appears to perform the same function. Keep in mind that even within the product you sell (metal roofing) there are numerous other options. Your competitor selling asphalt roofing frequently takes the road of “least resistance” and quotes a price on the lowest cost product, and in this case the roofing manufacturer produces a top-of-the-line “architectural product” with a major price difference. All of these alternatives need to be taken into account when selling in the home.
Q: How do you really know if it’s a true price objection versus a story concocted by a prospect?
A: First of all, consider any response as possibly:
- A tactic
- A non-sequitur response
- Being true
- A “throw away” phrase which becomes culturally accepted.
In fact, there’s no way to know which of these it is unless you use scientific responsive language. For example, when any objection or resistance arises, it is important to pause (usually a minimum of 4 seconds) before you respond. Then some scientific responses would be:
- Why do you feel that way?
- What gives rise to that opinion?
- Can you give me a little more information about what creates your opinion?
In the latter and similar statements, you will normally be treated to answers which, when listened to carefully, will lead you to either respond or ask another question where you get more information. Think about it, your prospect may answer:
- I saw it advertised for less.
- Our neighbors bought something similar and didn’t pay this much.
- I was under the impression that…
- I’m not sure it’s worth the investment, but we’re not going to stay in this home much longer.
- I know with business as it is today, you can afford to shave your price.
No matter what the answer is, it will give you the “lead-in” to finding out what stands behind the price objection or resistance statement.
Incidentally, in the better structured sales organizations, when a sale isn’t made, another appointment with the same prospect is made for rehash and on many occasions, the rehash salesperson doesn’t cut prices or sell a less expensive product. The rehash rep does an improved needs analysis, builds better rapport, and sometimes come away with additional work not considered on the original call.
Q: Our product is at the top of the line in quality, and most people who see it agree, yet they still complain about the price being too high.
A: Yours is a perfect example of not establishing quality (in the prospect’s eyes). If people who see your product agree that it’s the “top of the line”, they may have even known this before they called you or they may recognize its quality level when they see it or touch it for the first time.
One of the core elements that we cover in our methodology is the Total Offer Concept. To upgrade your presentation skills, include at least 5 things your product or service does differently, or quality components inherent in your product either of which may not be available (or presented) in a competitive lower-cost product. Make sure they are part of your presentation long before you quote the price.
Q: In your webinars, you constantly mention “post negative suggestion”. What is it and how does this fit into price objections?
A: “Post negative suggestion” is an engineered phrase created by our company. It refers to the negatives or resistance objections which you might receive after your presentation or when you are attempting to “wrap up” a sale.
If your product or service competes with similar products and/or brands which promote a similar product, it is important to:
- Present (in advance) the 5 to 7 things which make your company unique and why it is important to include them in any consideration
- Hear quality or fulfillment concerns that the prospect may have, then respond to those issues a part of your presentation
As a further example, if your product/service is easy to use, has a more simplified maintenance than a competitors’ product, or creates a more rapid return on the investment, these and similar inclusions off-set many of the negatives you would get at the end of a presentation if presented properly.
We will continue to post responses to these excellent questions on our next blog posting as well as our e-newsletter. We also recommend that if you are in the Baltimore area, you attend our complimentary event at the Remodeling Show where you will be introduced to the latest in home sales tactics in the market today.