Overcoming [modern] Objections

[bzweifel]

Hi gang. I can't find a lot of modern day training material that applies to todays market. Everything seems to be out of the 90's or early 2000's. I'm looking to make an informal book of closes for my dept. I want something that I can reference from day to day, give to new guys who lack prior experience and need help right away . I need some help with closes that apply to today's market.

I don't want this to turn into a pissing contest. Let us follow these guidelines.

1. Post any close that works today. Something that worked 20 years ago when homeless people could obtain financing doesn't help me.
2. Post any objection that you want a close for. i.e. "What's your best price." "Why does KKB say a higher number". This will help other posters remember what works for them in that situation and hopefully get them to post. It's easier to have a "wanted list" than to say "give me all of your best stuff".
3. Obviously you should write the objection or situation that your close applies too. It doesn't have to be on the wanted list. The wanted list is simply there incase a strong closer doesn't know where to begin with a response.
4. Put an notes or tips to the reader in brackets {} .... customer responses in [] so that it's easy to follow.

I'll lead from the front and start us off:<br><br>
:WANTED LIST:
"Is this your best price?"
[In a situation where you're well aware that it isn't]
"I'll give you (blatant lowball)." [no matter what I try I haven't found something with a high close%]

:CLOSES:
Objection- "Why does KKB say that my car is worth (value)"

Close- "That is a valid question, Gary. Do you mind if I take a moment to explain it to you?
{they won't stop you}
You have to understand that KKB is a for profit company. Their primary source of income is advertising on their website, and they generate a lot of it. It's estimated that KKB sold to autotrader last year for $500,000,000 did you know that?
[no I didn't]
I understand. To maintain that level of advertising revenue requires millions of people visiting their website everyday. With that said, which website would most customers go to for a trade in value? A site with low values or a site with higher values? They would choose the site known for higher values almost all of the time, correct?
[yes]
There is your answer, Gary, but it doesn't stop there! KKB wants dealers to visit the site everyday as well. Did you research the retail value's of cars?
{their answer is irrelevant, I add questions to avoid sounding like i'm on a rant}
Well I don't expect you to take my word alone, let me show you something.
{go to a computer. Pull up KBB and a used car for sale on your website. this works best if you choose an import 1-2 model years old, Know your inventory before hand}
Gary, this is a preowned 2010 Toyota Tacoma that I have for sale. Our internet price is $22000.
{enter the info into KBB, select "retail value/CPO Value"}
Gary! $26000!
{sarcasm. This value is always thousands higher than your sale price If you price your cars aggressive online}
Would you be comfortable paying $4000 more than my asking price on this truck? Is that good advice for them to give a customer?
[no]
I don't blame you. Do you now see why I can't honor more on your trade in than it's worth, just because an advertising site says so?
[yes]
Awesome, congratulations Gary! I'm going to get your new Camry cleaned and gassed up for you. I just need your autograph on this trade value."
{Gary signs up while you bask in your excellence}

I'll add some more later on but this thread isn't about me. Can't wait to hear some good ones.

 

[john.quinn]

I'm looking to make an informal book of closes for my dept. I want something that I can reference from day to day, give to new guys who lack prior experience and need help right away . I need some help with closes that apply to today's market.

I know you don't intend to do this, but when I read this, I get the vision of a graduating frat guy passing-down his book of "Lines" to his favorite underclassmen, ala: Are your feet sore? 'Cause you surely fell from Heaven and it's a looong drop..."

I'll lead from the front and start us off:<br><br>
:WANTED LIST:
"Is this your best price?"
[In a situation where you're well aware that it isn't]
"I'll give you (blatant lowball)." [no matter what I try I haven't found something with a high close%]

I do, however, have the PERFECT close for you on this one, GUARANTEED to increase your closing percentage.

Ready?

Is this your best price? [ANSWER] YES!

Try that a few more times, and I promise you'll see results. (the "fact" that it "isn't" is something you have to overcome in your mind -- not overcome with the customer).

 

[bzweifel]

I know you don't intend to do this, but when I read this, I get the vision of a graduating frat guy passing-down his book of "Lines" to his favorite underclassmen, ala: Are your feet sore? 'Cause you surely fell from Heaven and it's a looong drop..."

ouch. I didn't mean to come off that way. These are questions that salesmen get asked everyday. I've always thought it's best to have some answers vs. wasting years of lost sales until you gain the answers for yourself?

Take Jerry for example. From everything I've read on his website it looks like his entire business is based around properly teaching people a dozen or so phone templates with flowcharts, all of which could be considered "lines". But guess what? That shit works, and he's admired for it (as he should be).

 

[john.quinn]

ouch. I didn't mean to come off that way. These are questions that salesmen get asked everyday. I've always thought it's best to have some answers vs. wasting years of lost sales until you gain the answers for yourself?

I meant this tongue-in-cheek, Bud -- just a shot at humor. It's certainly a worthy effort.

But on a more serious note, I find it interesting that your are looking for a "modern" response to the "oldest" question/objection in the book. I wouldn't be so quick to disregard the "old" stuff. Modify, update, improve? Yes, certainly. Completely throw the old stuff out the window? I would caution you that's a mistake.

But good luck and happy hunting!

 

[bzweifel]

But on a more serious note, I find it interesting that your are looking for a "modern" response to the "oldest" question/objection in the book. I wouldn't be so quick to disregard the "old" stuff. Modify, update, improve? Yes, certainly. Completely throw the old stuff out the window? I would caution you that's a mistake.

We are both agreeing on principals and arguing about wording. The "old stuff" that I'm discounting is along the lines of "Get them in" "tell them you've never lost a deal over price". You have to remember that I'm in Internet sales with over 10 other Toyota dealers in a 50mi radius. What works for someone on the floor in the middle of nowhere won't work for me. That's what I meant by "modern". I could have explained it better.

 

[ddavis]

Way back in 1981, when Chrysler was going broke, I was the GSM at a Dodge/Nissan store. Lee Iacocca had written his first book and the zone made sure that many of us received a copy. Chrysler got $1.8 Billion in loan guarantees and had a lot of new products coming on. Iacocca said, "The success or failure, of Chrysler, will be determined at point of sale". It wasn't the new capital or products but the sales floor at dealerships. Nothing has changed and I haven't heard a new close in 30 years. Unlike Amazon, we don't have shopping carts on our website. Somebody has to close the customer.

 

[john.quinn]

We are both agreeing on principals and arguing about wording. The "old stuff" that I'm discounting is along the lines of "Get them in" "tell them you've never lost a deal over price". You have to remember that I'm in Internet sales with over 10 other Toyota dealers in a 50mi radius. What works for someone on the floor in the middle of nowhere won't work for me. That's what I meant by "modern". I could have explained it better.

Got it. I'm on the floor in the middle of nowhere, so I guess I can't be of too much assistance.

 

[Jerry Thibeau]

Here are the five most important techniques I use that have allowed me to prosper as a sales person.

1. Use "what's in it for them" statements!
2. Learn pacing and leading techniques!
3. Ask with confidence!
4. Believe in what you sell and do!
5. Be assumptive!

When coming up with an objection handling technique, keep these five things things in mind when developing your objection handling verbiage. Practice, practice and more practice makes this stuff flow easily.

 

[ddavis]

Got it. I'm on the floor in the middle of nowhere, so I guess I can't be of too much assistance.

bzweifel, You're in a market with 10 other Toyota dealers in a 50 mile radius. At a non-metro dealership, they face a shopper's mentality, that metro dealerships can and will sell it for less. I've been on both sides and you have the advantage. You are selling Toyotas. I sold Dodge trucks before the Ram, Aries K cars and Rampage trucks. My last two dealerships were Nissan and we sold more new cars over the Internet than any Toyota store in the metro. The Internet is the most effective form of advertising ever used to sell cars. It is a marketing tool. Jerry is absolutely correct. It all comes down to salesmanship but nothing there is new.

 

[danoneil]

Have you ever heard the saying "it's what you do, not what you say". Do you want to overcome objections, create less by what you do.

Example ? If there is one thing that a customer hates is when a salesperson disappears behind the magical managers door and leaves the customer sitting by them selves for 15 minutes. If you give your sales people the tools to save the customer time, then you will sell more cars. We have excel OTR spread sheets available for sales people to calculate if the vehicle the customer wants is going to fit their budget. Making sales people aware that you have payment calculators on your website to see if the customers payment range will work with the car they want. It's what you do, not what you say.

You get a call on a used car and you make an appointment. How many sales people pull the car up in advance of the visit ? How many take the car for a quick drive to make sure the brakes are not squeeking. How about the inside of the car, is it clean ? Does it smell ?

The same can be said about a new car. If I have a customer coming in for a particular vehicle, I want to make sure I have pulled the car prior to the visit. How many times has a customer showed, the car they want is buried 5 cars deep ? It's what you do, not what you say.

You sit the customer at your desk. Do your salespeople offer water,coffee ?

How many salespeople walk the service area ? 15% ?

How many salespeople walk a non sold customer to their car vs. a "thanks for coming in" & have the customer walk out.

Just some thoughts....