Stop Training Your Salespeople to Overcome Objections
Most sales objections are the result of an ineffective sales approach. Because of a lack of sales training and effective sales coaching, the credit union’s salespeople are using these ineffective approaches making objections common, leading sales leaders to believe the problem is the objection.
While having salespeople prepared to overcome objections is important, more value will be added to all when you train the salesperson in the processes and skills that help members make educated buying decisions. When a salesperson can deliver the right information with the right approach, they avoid most sales objections, move more product and services sales opportunities forward, and consistently close new business.
What Are Sales Objections?
Sales objections are often misunderstood. A sales objection results when a member is put in a situation where they must make an uninformed buying decision, leading the member to say no. However, they are not saying no to the product because the salesperson failed to effectively give the member:
1. Enough information.
2. Clear information.
3. The right solution.
4. The right timing to discuss.
This of course is a “sales approach” issue which if not corrected, will continue to deliver sales objections. Let’s look at these in more detail with a few examples.
When out shadowing salespeople at the branch, contact center, or lending center, I observe sales conversations taking place and often hear a variation of these approaches:
“We also offer Extended Warranties. Do you want some more information about that, or not?”
“We have great rates on our auto loans. Please let me know if we can help you with that.”
“Have you ever considered moving your checking account over to us? We have some great features our members really love.”
It is easy to see how a member could say no to each of these approaches. All three lack the detailed information the member needs to see the value of the product or service and to say yes. They are not customized to fit the member’s needs, and the pitch is given before the team member knows if the product or service is appropriate for the member.
Consider these questions:
Assume the member being helped doesn’...