10MINMC.Ep.19.V1.AUDIO (1)
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Trey Sheneman: [00:00:00] Objections aren't rejection. They're just hesitation and handling them right could become the greatest conversion lever in your business. Today's episode, I'm gonna teach you my tricks for overcoming objections.
Welcome to 10 Minute Masterclass. I'm your host and lead MC, Trey Sheneman, and each week on 10 Minute Masterclass, it's our goal to be the mic drop or business breakthrough for you in that week. Now, how do we do that? We do that by always trying to translate what we consider to be timeless business principles to help you to solve today's business problems.
We do that through one of the core four drivers of growth each week as well. If you've listened any link before, you know what those are. Today's episode, [00:01:00] we're gonna jump into the sales driver of growth, and we're gonna talk about. One of the things that so many people don't want to talk about, if you've ever been in sales.
And it's the fact that you're going to hear way more nos than you're going to hear yeses. I think back to so many of the businesses that I've been responsible for, the top line growth of the business, whether that was through e-commerce sales, um, or in-person sales, or even door to door sales when I was selling rainbow vacuum cleaners, which was a thing, um, nos are a thing they're a part of.
It's your ability to quickly identify when it's. Actually a no, um, versus a not now or a need more information. That is the key to really being able to scale because the truth is really great. Sales professionals should never fear objections. They should actually see objections as the doorway to the deal.
This is actually how you get your close rate up because. In every business I've worked in scale never happened [00:02:00] without somebody being really good at overcoming objections when they came up. Because objections most of the time actually mean the person is interested in what it is you're trying to say, but they're trying to justify it, uh, in their own minds.
And, and they're enga, they're engaged enough to hesitate. If they're really disinterested, their body language, their tonality and their energy is gonna say no emphatically, and you're not gonna have to wonder. But when they're in that middle where it's like, maybe it's a no, maybe it's a yes, that's when those objections tend to start to pop up.
And it's when we gotta be prepared to really lean in and help, uh, you know, negotiate our way out of those objections. So, um, the big idea for today is really objections. Most of the time objections are just unanswered questions somewhere in the sales process. We just did not cover one of the main things that person wanted to know.
And so now they have an objection about it. And so today I want to go over the four most common objections that I've heard in my career, no matter what it is I've been selling, and how over [00:03:00] time I've learned to handle them. Now in full transparency, I wasn't always great at this. Part of, uh, being able to overcome objections comes with experience, not just the experience of having objections, uh, thrown at you, but the experience you get of having stayed in a field for 10, 15, 16 years like I am right now, where you just, that muscle gets stretched so much and used so much that they become more natural for you to overcome.
So that's certainly part of it. Um. But the other thing here is, is like I really wanna make sure that we're recognizing we can do all the great greatest marketing in the world to create a whole ton of opportunities. But if we're not good at closing, we're not good at squeezing that extra two or three or four percentage points out.
We're gonna have a really hard time of, of scaling a business big to, to the size that I want your businesses to get over time. So let's work through these four common objections. I think they're common. And I'm also just, it'd be the first time I've ever asked for this. If you feel like I missed one or there's another one that you'd like to hear me
say how I would handle, uh, shoot me a DM about it on LinkedIn and I'll create some, some, [00:04:00] um, video content or, or written content on LinkedIn to answer that question. I wanna make sure that I'm being helpful. Alright, so let's jump into these four most common objections. Number one is priced. The way that this might sound is it's, uh, it's too expensive.
Um, what they're really saying when they say something like that is your ability to communicate the value of the thing you're trying to sell has not equipped Uh, them enough or, and. And also eclipsed the price point enough in their head for them to say it's worth it. So the posture that you want to take here is you don't want to feel like you're having to defend price, but you do also want to take a position where you highlight the cost of doing nothing.
The cost of them staying where they are, the cost of them, maybe even picking a competitor. Um, and, and one of the ways. That you do this is to kind of figure out where they're, where they're justifying this in their brains is the question that you ask back to somebody when they make a remark, make a remark about it being too expensive, is you say, compare it to what?[00:05:00]
You shut up and let them fill in in there for you What they're saying, it's too expensive against, is it too expensive against staying where you are too expensive as compared to something else they're looking at. It's gonna give you more information as a salesperson so that then you can reframe the ROI that your product or service brings to the table.
And once you hear what they say, your bridge out of that is, Oh, a recent client of mine thought the same thing until they, and then you insert some sort of transformation or story of a win in there and how you reframe that. So we wanna have the, the, the prospect clarify for us what they're meaning. We want to by saying we are gonna, again, we're gonna say compare it to what we're gonna let them answer, and then we're gonna reframe that back with a story.
That's how you overcome that objection. All right. Number two. The time objection. Now's not the right time. That's, you know, maybe in a couple of months or maybe next year, now's not the right time. What they're really saying is, you haven't made it urgent enough yet [00:06:00] for me to feel like I gotta buy it to solve my problem today.
So what you wanna do when this objection comes up is you want to acknowledge and redirect. So the way I would do this is I would say something like, Hey, I totally get that timing matters, but let me ask you what changes between now and then. Then being whatever time they said, what changes between now and next year or what changes between now and next month or next corridor and.
See what they articulate is what they think changes and what you want to have ready to respond to. How they articulate the answer to that question is some sort of a trend or a stat that proves people who act now get to results faster. That's so that's gonna have to be some research that you do in your own business.
You know, I know for us, like when we sell the Compass method to our clients, you know, if somebody were to say to me, well, we wanna rate till the fourth quarter, and if I were to say, well, why, why? Then what changes between now and then? They might say something like, well, we'll have more of a team here to be able [00:07:00] to handle it if that time is right.
I mean, we got a client right now, we've been talking to for several months, and they actually are in the position where they're wanting their revenue to grow before they hire us. So they can spend the money from this growing revenue into the next level of growth we want to drive. And I was able to pull a trend out from a company in a very similar stage to them where we showed them how doing the Compass Method now actually helps them understand their staffing strategy to build the team out.
They can benefit from what it is that we're gonna do, which is a huge part of this. So you, again, you have to materialize this in your own business in a unique way, but that's how I would overcome that. Objection number three. I need to think about it. Uh, it's what I call the lack of trust objection. What they're really saying is, is I'm not sure I trust you enough yet to buy from you.
And so the big posture you gotta have when that comes up is if they're already not trusting you enough, is you gotta make sure that you don't push, but you do prove. Alright? And so this is when you say to them, Hey, you know what? Are you on your computer right now? Or, Hey, what's your email address? I want to [00:08:00] send you something.
And you have a case study or a testimonial or something, um, something that's in the risk reversal lane, like a coupon or a money back guarantee or something that you're ready to actively send them, that basically makes the, the lack of trust go away. Um, and while you're doing this, you want to say now after you've seen that, what else
still feels unclear or risky? 'Cause I wanna make sure that I'll walk through that with you together. And so you want to give them some proof and then show a posture of being willing to hear their feedback and go from there. All right. So that's how I overcome that one. And the last one's the approval objection.
I need to check with my partner and my boss, my sales team. What the really. Thing is I'm not confident enough to defend this decision. If somebody asks me about why I met, decided to buy it. So what you wanna do in this situation is empower the, the, the prospect with assets. One pagers, demos, recap, emails that clearly show ROI you wanna offer to go ahead and
schedule a second call right then and there. 'cause it's clear when they say this that they also might not actually be the buyer. And we always wanna be talking to the buyer. [00:09:00] Um, and so the, the great question you ask once you've sent them this information is, what concerns do you think they'll raise that you haven't already raised?
So that way you can send them this information, you can schedule the follow up call and you can get the actual decision makers on the call. So, at the end of the day, when you're trying to overcome these four objections, the main thing though, you know, obviously I, I really do think you should use these words that I've given you on this podcast, but the main thing that you wanna do is they all follow the same format.
Number one, you want to empathize with what they're saying. Number two, you want to reframe what they're saying into a position that helps you, and then you wanna reinforce while your solution is still the right solution. So this week. Write down the objections you hear, put them in one of those four buckets.
They, uh, they all tend to land in one of those four buckets. And then just make sure you're also listening to yourself with how you try and overcome them. Are you empathizing? Are you reframing? And then are you reinforcing? Because if you're not, you're gonna keep getting stuck on objections you could ize, overcome.
And ultimately, once you overcome these, those, again, those extra one or two points of [00:10:00] conversion that you end up getting out of the business. From being willing to do this are gonna be huge gains for you, um, as you continue to build until you, as you continue to build and you continue to grow. So, thanks so much for always taking this 10 minutes outta your week to hang out with us here on 10 minute Masterclass.
I expect to hear your close rates went up. Make sure you do this. Until next time, we'll see you on the flip side.
