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Handling Sales Objections
Just because a prospective
client objects to your proposal is not a signal to fold up your tent and
quit. Your response may be what closes the sale.
The feel-felt-found technique is easy to apply in overcoming an
objection. A prospect may tell you that they cannot afford an accountant
because their business is too small.
Your response might be, “I understand exactly how you feel. Many of my
clients felt the same way when they started out with me. However, they
found that-my hands-on, professional service does not cost money … it
makes money.” This approach points directly to the question, “How can
you make me money?”
The question, “Oh, why do you say that?,” was made famous many years ago
in a popular sales training course. When a prospect raises an objection
to your fee, ask this question. Listen very carefully to the response.
Exactly why is the buyer reluctant about price? Did you fail on his
“good deal” scale by not offering enough value for his cost? Does the
prospect want to hire an accountant, just not your firm? Is your fee
beyond his budget? Often the objection vocalized is not the real issue
you must overcome. Listen carefully and ask more probing questions.
To sign up new clients, you do not need to be an extrovert or a super
sales person. First, make sure you are dealing with the decision maker.
You must project an attitude of professionalism and confidence. You need
to show up on time, dressed appropriately.
The first step is to introduce yourself. Give the prospect your card and
ask for one in return. You want to set the prospect at ease, and then
build trust and rapport quickly. Be friendly. You are a consultant, and
you simply want to help the prospect. You are not a sales person or
adversary.
This is the ideal time to explain the two or three most important
benefits your firm can bring to the prospect. Do not discuss what you do
in a “nuts and bolts” manner. Instead, explain the benefits of having an
accounting professional take on this job.
Ask the prospect to tell you about the business, and what they want to
accomplish in the next few years. Most important - listen.
Here are some questions you may ask to build trust and rapport:
How long have you owned the business?
Where do you see your firm 12 months from now? Three years from now?
What are your three biggest business problems?
What are your three biggest financial and accounting problems?
How are you doing your bookkeeping, accounting, and tax work at this
time?
Is the business a corporation, a partnership, or a sole
proprietorship?
Here are some specific objections and suggestions for responses to them:
I just started my business and it is too early for an accountant.
“With my reasonable fees, this is an excellent time to start with my
firm. I will make sure that your books are correctly set up, right from
the beginning! My new business clients have found that I keep them in
compliance with the IRS and governmental rules right from the start.”
My current accountant does a good job for me.
“You impress me as a smart business person, knowing that you need to
have an accountant helping you. I have also found that smart business
people like to compare benefits, services, and fees. Are you more
interested in lowering your costs or increasing the benefits and
services you get?”
Your fee is too high.
“Are you telling me that you are concerned that you are not getting
enough value or benefit for the proposed fee? Is that correct? Good, I
just want to clarify your concern.” This gets the prospect to agree that
benefits and value are more important than the fee. A trial close might
be, “If I can lower your taxes and save you ten hours a month, would you
let me do your work?”
“I can certainly understand how difficult it is for a farmer to pay my
reasonable fee each month. I have a special program where you can pay
twice a year, although I help you each quarter. Is it better if I come
out Thursday morning or Monday afternoon to set up our system?”
Seasonal revenue streams may require a special payment program. Business
in resort areas, where there is a short, two or three month, season, can
fall into this category.
I am too busy to meet with you.
Most smart, successful business people are swamped. I have saved
successful people just like you thousands of dollars on their taxes. If
you give me 15 minutes to learn more about your firm, I am sure it will
profit both of us. Can we do that next Wednesday, or would Friday be
better?”
I cannot sign up now because … I have to ask my spouse, partner, etc.
Let me think it over.
“I understand you do not wish to sign up because you are not sure our
proposal is a good value. Can I meet with your wife, partner, etc., to
go over the benefits of my program?”
“Who else should I discuss this proposal with?” If your prospect does
not have the authority, they will usually tell you who can sign on the
dotted line.
“Is there another reason why you want to delay a decision on this?”
Listen closely as they may tell you the truth of what their real problem
is.
Most of the responses in this area are errors on your part by selecting
the wrong prospect to pitch, or accepting stalling tactics by the
prospect. You need to get past this and find the undisclosed, secret
objection.
If the “no” is a real “no”, examine your presentation. A careful review
of how you lost the prospect can help improve your pitch and turn you
into a winner!
(C) 2002 The National Public Accountant. via ProQuest Information and
Learning Company; All Rights Reserved
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