Overcoming Objections

[Craig]

"Mr. X, thank you for coming into Acton Toyota today. Before we get started, would be be ok if I ask you a couple of questions and also take a moment to explain to you our process of how we do business here and how it will benefit you?

Todd,
I agree 100%. This is one of the main points that we go over all the time, setting customer expectations as well as explaining our process as we go can make objections disappear. To often salespeople are so afraid of objections or resistance that we wait until the customer brings it up rather than being slightly ahead in our explanations. In the automotive sales arena today the customer tends to have more information than the salesperson which causes these objections.

Customers still need to be led through a sales process, not by controlling them but through careful explanations and setting proper expectations. Objections, fear and fighting with customers tend to go away when we acknowledge their research, explain our products and process', then ask for them to buy at a price that is reasonable, fair and can be backed up by third party documentation.
Too easy, right?

 

[todd.smith]

Craig so true words have never been spoken. I think we break this exercise down into two parts to make it more manageable.

Part one: Will address true sales objections during the sales process. An example would be your price is too high or ABC Competitor is offering it for less.

Part two: Will address sales process issues that seem like objections but are really mistakes in our pre-qualifying. So we will work on how to effectively pre-qualify and keep people on the road to the sale.

This will be a great thread. I am excited to see what we can make come out of it. Here are some for us to take a look at. As mentioned earlier there are many derivatives to these. But what I would like to come up with are the top 10 core objections that we all agree on and then just rip them apart.

1. "I need to think about it.”
2. “The price is too high.”
3. ”I want to shop around.”
4. “I need more information.”
5. “The monthly payment is too much.”
6. “Another dealer has already given me a better price.”
7. “I'm not the only decision maker.”
8. “It is over our budget.”
9. “I'm not that interested.”
10. “This is a bad time.”

 

[todd.smith]

I first want to apologize for not getting this done sooner but Holidays and end of year business put a damper on my writing plus with a new baby on the way the Smith household is a little crazy right now. So without further excuses here we go.

1. "I need to think about it"

Whether you realize it or not, when a shopper tells you they want to think it over, this is a great opportunity to close a sale. This type of statement usually happens after you have given a shopper pricing information or after a demo. Here is an easy word track for this particular scenario.

“Prospect, are you saying that because you want to think about the vehicle you want to take home, or are you saying that because you think the price is too high?”

This is a feel out questions to determine the real objection. Either way you have the door open to continue towards the close. Most shoppers will say the price is too high. If they say that, simply reply back

“How much too high do you think it is to wrap this up today?”

If we are within the vehicle pricing matrix continue to work to the close. I would also follow up with the following statement to reassure you have uncovered the root objection.

“Other than the price, is there anything else that would keep you from going ahead with purchasing this vehicle today?”

The key point here is this; salespeople don't overcome objections, prospects do. The only person who can truly overcome an objection is the prospect. Salespeople create the opportunity for this to occur through their effective use of questions. Selling is therefore the art of asking questions, listening openly and intentionally, and gaining information; not giving it.

 

[Katie]

I know this is an older thread, but objections are one of my favorite things to overcome. The most effective tactic/approach for this, I've found that pacing and leading has been monumentally effective.

There was an objection offered in this thread about being overseas, wanting to do the deal online, and wiring the money. I laughed at this But looking at pacing and leading approaches, I'd say something like:

"I can appreciate your needs, being overseas is definitely something that can prevent you from coming in today, for example. Can I ask you, Mr. Smith, what attracted you to our dealership?"

Pace, Pace, Lead. Compliment, Compliment, THEN ask a question.