 |
An ounce of prevention is worth a pound of cure. If you were caught up in last fall's flu vaccine shortage, you know exactly what I'm talking about. The same is true in sales.
Objections from prospects are the diseases that ruin any sales engagement. Fortunately, like the flu, there is a vaccine against these objections. The Wedge Group wants to inoculate you against these objections. Best of all, there aren't any needles involved.
One of the best ways to eliminate prospect objections is to prevent them from occurring. The best prevention is a good story. Remember, objections are the way prospects express fears of commitment or change. A story is a non-threatening way to overcome fear and build rapport. This is how to do it.
- Build a good story. Prior to the engagement, identify common objections (at least the three most common) and create a story, based on your experience, and memorize it! If the story can combat all of the objections and contain some humor, it will be even more effective.
- Tell the story EARLY. When you meet the prospect, even before qualifying them, tell your story. It will be perceived as a relationship builder, not a 'vaccination.' When the objections 'normally' come, you will be protected with your story.
It's that simple. One question we often get is: "What does the story look like?" You need to make the story YOUR own, but here is an example that works for me at The Wedge when talking about sales training. It's not uncommon for me to hear the same objections- sales training is a waste of time, or money, or it just doesn't work - over and over from prospects. This is the story I tell:
"I agree sales training doesn't work."(You
have taken them off of the defensive.) And then I tell
them why. "Most sale training is like taking a
overweight person that works at Kentucky Fried Chicken
and putting them through Jennie Craig. After they've lost
all the weight you bring them back to work at Kentucky
Fried Chicken. What's wrong with this picture?
You haven't changed the environment. Sales training is
a three step process..."
This story builds great rapport in a non-threatening way.
It doesn't challenge their way of thinking or a decision
they have made putting them on the defensive. On the
contrary, I agree with them, we are in the same boat (rapport).
List out the objections, list the why, find an analogy,
and tell them the better way based on logic. For example
when I hear the objection "My sales staff is
quite successful," I agree with them. Then
my analogy is "Your sales people are like Michael
Jordan and Tiger Woods. They have discipline and exceptional skill.
All they need is the coaching to achieve incredible results...
And that's how The Wedge Group can help, we are those
coaches."
Create your story, tell it early, and prevent those nasty
objections from popping up! Contact us with your stories, questions, or successes with this technique. Go out, stop selling and start winning!
Randy Schwantz
President & CEO
The Wedge Group
Homeowners Insurance Premiums Up Just 2.5 percent in 2005
Premiums for Homeowners Insurance in the United States are expected to rise by just 2.5% in 2005 as people "buy bigger and better homes in record numbers." According to the Insurance Information Institute (III), the rise will be "the smallest increase in six years."
Read More.
Insurance Industry Loses An Additional 3,600 Jobs In February
The industry is contracting and taking jobs with it. Producers that generate results can write their own tickets, those that can't are becoming part of the story. Read More.
Analysis of Contingent Commissions in Insurance
Insurance Institute experts challenge the findings of
the Consumer Federation of America and provide clear and reasoned definitions on
commmissions. This analysis is very useful when talking
with consumers about YOUR agency fees. A must read! Read
More.
We hope you have enjoyed this month's The Wedge Report. If you have any comments, questions, or story ideas, please don't hesitate to Contact Us. Also, if you know anyone who would like to receive a copy of The Wedge Report, please forward them this copy and suggest they subscribe online.
|
|

USEFUL SALES TIPS:
An Exercise to Stop Objections
This month, The Wedge Report gets insight from Senior
Consultant, Kevin DeVaan.
"One of the biggest challenges with this 'story vaccine'
technique is that sales producers may not realize what
the objections are that they face. Here is an exercise
that helps create your story," Kevin DeVaan.
1. There are typically 6 objections to any product or service, no matter who you engage. Identify those six objections for your typical target, an assistant to your target, and an executive.
2. Identify how these objections are similar and different.
3. Create a story for each of these engagements.
If you have questions about this exercise or the 'story
vaccine' technique, please Contact
Us. We'd be happy to discuss it with you.
The Wedge Group
and Amazon.Com
want to give the readers of The Wedge Report the
opportunity to get the new book, How to Get Your Competition
Fired on March 29, 2005 as part of a "First
Day Offer."
The "First Day Offer" is a ONE DAY ONLY promotion
that gives purchasers special incentives with the purchase.
Simply go to Amazon.Com
on March 29th, buy How to Get Your Competition Fired,
and then go to the First
Day Offer, fill out the information, and you will
receive:
- The Wedge CD
- $400 Discount Certificate for any 2005 Wedge Public Workshop
- 32 Lessons from Randy Schwantz's Salesperson Development Program
- 1st Three Chapters (sneak preview) of "Wedge for Financial Advisors"
Contact Us if you have any questions. |
|
|
|
 |
 |

"The Wedge Approach has been an important factor in my
growth, and in addition, our training sessions with you
have got me to believe in myself, my experience and my
collective expertise."
Garth Lane
Account Exec. - Lloyd Sadd Ins.
(Have a story you want to share? Let Us Know)
|
 |
  |
 |
 |
LEADERSHIP

Mar. 17 - 18, 2005 New Orleans, LA
 May 19 - 20, 2005 Chicago, IL
 Aug. 18 - 19, 2005 Newark, NJ
 |
 |
THE WEDGE
 April 18 - 19, 2005 Dallas-Fort Worth, TX
 Aug. 15 - 16, 2005 Newark, NJ
 Oct. 17 - 18, 2005
Las Vegas, NV
 |
 |
| 
 |
|
|
|