Objections based on the sluggish state of worldwide economic conditions has become so prevalent in sales that they have their own name, “Econjections,” and it’s wreaked havoc on thousands of people in sales jobs. The reason so many sales people have problems dealing with the econojection is because, technically it is not an objection at all; it is a condition. You cannot overcome or directly affect a condition. Therefore, you need to learn to adapt and use the condition to your advantage, rather than allow it to have adverse effects on your business.
Below are three powerful and effective concepts for dealing with econjections. These are concepts and strategies and the examples are for explanation only and not meant as word-for-word scripts.
Econoanswer 1 = Use the economy as the reason you are there
From the first interaction with the prospective customer, begin using the economy as the very reason you have contacted them. With almost any product or service, you can find benefits that relate to saving or making more money or time. Therefore, in slow economic conditions, the prospect will need what you sell even more.
“Ms. Prospect, the reason I am calling is that due to these economic conditions, building owners need to find more ways to save on energy costs. Our product will...”
Start by using the economy as a positive before the prospect uses it as a negative.
Econoanswer 2 = Which will you be?
“I agree Mr. Prospect that this economy is very slow and I know that during times like this many companies are forced to scale back operations. In fact, many companies in your industry go under completely in times like this, isn’t that right?”
“Well, Mr. Prospect, I am certain you also know that during those same lean times, a few companies actually expand and increase income. In fact, a rare few make record profits, don’t they?” (It is good to have some very basic stats here)
“Mr. Prospect, the fact is that during these times, some companies will suffer and some will benefit. I think the question is which one do you want to be: one for those companies that suffer from the economy, or one that uses the economy to be more successful?”
“Ok, then let me show you how our product/service helps companies be more successful during these times…”
Econoanswer3 = Cut and grow
“During these lean times Ms. Prospect, you must be able to do two things: reduce expenses and increase income. Don’t you agree?”
“I know you are aware of how our service will help you increase income. However, in a quick 30-minute meeting, I can show you how we can help you reduce expenses at the same time, and isn’t that what you want to do?”
Sean McPheat is the managing director and Founder of MTD Sales Training. MTD Have trained over 30,000 staff worldwide. Sean is regarded as a leading authority in the world of selling and has been featured on CNN, BBC, and ITV. Check his free weekly tips and his MTD sales blog for more advice.
