Objections are a common occurrence in sales. While they can deter even the seasoned salesperson, there’s no reason to let them stand in your way.
In today’s episode of Stay Paid, Josh and Luke break down the process of overcoming any objection by using the Acknowledge, Isolate, and Overcome process.
- The key for objections is to understand that they’re both emotional and logical.
- The only reason a prospect won’t buy from you is because the value doesn’t outweigh the cost.
- The process includes three phases—Acknowledge, Isolate, and Overcome.
Emotion and Logic
Before delving into the process, it’s crucial to recognize that both emotion and logic play a large role in the sales process. Prospects are convinced on logic and buy off of emotion. This means that you need to provide enough value to convince them that your product is worth their time and money and close the deal with a sense of emotion.
It’s also important to recognize that the only reason a prospect won’t buy from you is because the value doesn’t outweigh the cost. Many people are so afraid of making the wrong purchase decision and regretting spending their hard-earned money and time. Being able to acknowledge, isolate, and overcome the objection will help you close the deal.
Phase One: Acknowledge
Consider this scenario. You’re on the phone with a prospect, you deliver your value, only for them to tell you that they need to speak to their wife before making a decision. Sure, this might be frustrating, but it’s certainly reasonable. This is where you have to acknowledge prospect’s objection.
Start by repeating back to them what they just told you. “Okay, you have to speak to your wife, I completely understand.” Then try to build camaraderie and a common ground. Tell them that you also wouldn’t want your wife to be mad at you for making a purchase without talking to her beforehand. This will help to show the prospect that you understand their apprehension and are willing to work with them.
Phase Two: Isolate
While the isolation phase is the most critical, it’s often the most overlooked phase. Many salespeople will lose deals because they miss the isolation phase.
The isolation phase begins with you isolating down the objection to where you’re backing the prospect into a corner. Referring back to the wife scenario, tell them “I totally understand, but let me ask you this: Is it just talking to your wife that is holding you back from moving forward with me today?” The isolation phase helps you determine what the pain point is, and offer a viable solution. Based off of their objection, you can then move forward with the proper close.
Phase Three: Overcome
When it comes to overcoming the objection, you should know all of your objections inside and out. While memorizing your objections is important, what it really boils down to is understanding that people are convinced by logic, but buy on emotion. This means that there are two types of closes—logical and emotional.
With a logical close, you need to get the prospect to see the value in using the product. If their objection really is that they want to discuss with their wife, then ask them if their wife would appreciate them receiving more business from your product or service. Convincing them of the value will help the prospect get past their initial fear.
An emotional close is just that, emotional. It’s a way for you to appeal to your prospect’s emotional side. At ReminderMedia, we ask the prospect, “do you mind if I share from the heart with you?” Then we proceed to tell them how our product can change their life and make a difference in their business. Appealing to their emotions helps to close the deal.
Following this podcast, our goal is to provide you with as many actionable items as possible. This episode includes:
- Determine what your top three objections are.
- Walk each objection through the Acknowledge, Isolate, and Overcome process.
As always, take action on these tips!