Obection Frameworks Flashcards
LAER Model (Listen, Acknowledge, Explore, Respond)
The LAER Model is a structured approach to handling objections that emphasizes active listening and empathetic communication. It helps build trust and rapport with the customer by ensuring their concerns are fully understood and addressed.
Listen: Fully hear out the customer’s objection without interrupting.
Acknowledge: Show empathy and validate their concern.
Explore: Ask questions to delve deeper into the objection.
Respond: Provide a tailored solution that addresses their specific concern.
Example:
Scenario: A customer is hesitant to purchase a new CNC machine due to its high cost.
Listen:
Customer: “I’m concerned that the cost of this CNC machine is beyond our budget.”
(The salesperson listens without interrupting.)
Acknowledge:
Salesperson: “I understand that budget constraints are a significant concern for your business.”
Explore:
Salesperson: “Could you share more about your budget limitations? Are there specific financial goals you’re aiming to meet?”
Respond:
Salesperson: “We offer flexible financing options and leasing plans that might align with your budget. Additionally, the machine’s efficiency can lead to cost savings over time. Would exploring these options be helpful?”
What is the Feel, Felt, Found Method?
The Feel, Felt, Found Method is an empathy-driven technique that helps customers feel understood and reassured by relating their concerns to others who had similar feelings.
Feel: Express understanding of how they feel.
Felt: Share that others have felt the same way.
Found: Explain how those people found that their concern was resolved.
Example:
Scenario: A shop owner is worried about the complexity of operating a new CNC machine.
Feel:
Salesperson: “I understand how you feel; adopting new technology can be daunting.”
Felt:
Salesperson: “Many of our clients felt the same way when they considered upgrading their equipment.”
Found:
Salesperson: “They found that our comprehensive training programs made the transition smooth and boosted their productivity significantly.”
What is the CRC Technique?
The CRC Technique ensures that the salesperson fully understands the customer’s objection before responding, leading to more effective communication.
Clarify: Ensure you understand the objection fully by asking for specifics.
Respond: Address the objection directly with relevant information.
Confirm: Ask if your response has alleviated their concern.
Example:
Scenario: A customer expresses concern about the machine’s maintenance requirements.
Clarify:
Salesperson: “To make sure I understand, are you concerned about the frequency or the cost of maintenance?”
Respond:
Salesperson: “Our machines are designed with self-lubricating components, reducing maintenance frequency. Additionally, we offer affordable maintenance packages.”
Confirm:
Salesperson: “Does this address your concerns about maintenance?”
What is the LACE Method?
The LACE Method focuses on attentive listening and providing clear explanations to address objections effectively.
Listen: Give full attention to the objection.
Acknowledge: Show that you appreciate their concern.
Clarify: Ask questions to get more details.
Explain: Provide information that addresses the objection.
Example:
Scenario: A customer is unsure if the CNC machine will fit in their workshop.
Listen:
Customer: “I’m not sure this machine will fit in our available space.”
(Salesperson listens attentively.)
Acknowledge:
Salesperson: “I appreciate you bringing that up; space constraints are important to consider.”
Clarify:
Salesperson: “Can you tell me the dimensions of your workspace?”
Explain:
Salesperson: “Based on your space, our compact model would be a perfect fit. It offers the same capabilities but with a smaller footprint.”
What is The Objection Handling Matrix?
The Objection Handling Matrix is a proactive tool that involves categorizing common objections and preparing specific responses for each, ensuring consistent and effective handling.
Categorize common objections: Price, timing, need, trust, etc.
Prepare responses: Develop tailored responses for each category.
Example:
Categories and Responses:
Price Objection:
“I understand price is a concern. Let me show you how the machine’s efficiency can lead to significant cost savings over time.”
Timing Objection:
“I see that timing is crucial. Our current promotion offers extra value if you decide to proceed now.”
Need Objection:
“Let’s discuss how this machine can meet your production needs and potentially open up new business opportunities.”
What is the SPIN Selling Technique?
The SPIN Selling Technique uses a sequence of questions to uncover the customer’s needs and demonstrate how your solution can address them.
Situation: Understand the customer’s current situation.
Problem: Identify problems or pain points.
Implication: Discuss the implications of these problems.
Need-Payoff: Show how your solution meets their needs.
Example:
Scenario: Selling a CNC machine to improve production efficiency.
Situation:
Salesperson: “How are you currently managing your production processes?”
Problem:
Customer: “We rely on manual operations, which can be slow.”
Salesperson: “What challenges does that present?”
Implication:
Customer: “We struggle to meet large orders on time.”
Salesperson: “How does that affect your business growth and customer satisfaction?”
Need-Payoff:
Salesperson: “Our CNC machine can automate processes, increasing speed and efficiency, which could help you fulfill orders faster and grow your business.”
What is The Sandler Pain Funnel?
The Sandler Pain Funnel involves asking a series of open-ended questions to uncover deeper issues and the root cause of objections.
Example:
Scenario: A shop owner is reluctant to invest in new equipment.
Salesperson:
“What are some challenges you’re facing with your current equipment?”
“How do these challenges impact your daily operations?”
“What effect does this have on your profitability?”
“What would it mean for your business if these issues were resolved?”
Customer:
“Our old machines often break down, causing delays.”
“It disrupts our production schedule.”
“We’re losing clients due to missed deadlines.”
“Resolving these issues would help us retain clients and improve revenue.”
Salesperson:
“Our CNC machines are highly reliable and could eliminate these breakdowns, helping you meet deadlines consistently.”
What is the APAC Method?
The APAC Method is a systematic approach to understand and resolve objections.
Acknowledge: Recognize the objection.
Probe: Ask questions to understand underlying issues.
Answer: Provide a solution or alternative.
Confirm: Ensure the objection has been satisfactorily addressed.
Example:
Scenario: A customer is worried about the learning curve of new technology.
Acknowledge:
Salesperson: “I understand that learning new technology can be challenging.”
Probe:
Salesperson: “What specific aspects are you concerned about?”
Answer:
Salesperson: “We offer comprehensive training and ongoing support to help your team get up to speed quickly.”
Confirm:
Salesperson: “Does this alleviate your concerns about the learning curve?”
What is the Yes, And… Technique?
Instead of negating the customer’s objection, the Yes, And… Technique agrees and adds information to reframe the concern positively.
Example:
Scenario: The customer thinks the machine is too expensive.
Salesperson:
“Yes, it is a significant investment, and that’s because it offers cutting-edge technology that can greatly increase your productivity and profitability.”
What does it mean to Isolate the Objection?
Isolating the Objection involves identifying if the stated objection is the only barrier, allowing you to address it specifically to move forward.
Example:
Scenario: A customer hesitates due to concerns about after-sales support.
Salesperson:
“Aside from concerns about support, is there anything else preventing you from moving forward?”
Customer: “No, that’s my main concern.”
Salesperson: “We have a dedicated support team available 24/7. Does knowing this help you feel more confident?”
What are Objection Prevention Techniques?
This approach involves proactively addressing common objections during your presentation to prevent them from arising later.
Example:
Scenario: During a product demonstration.
Salesperson:
“You might be wondering about maintenance costs. Our machines are designed with minimal maintenance requirements, and we offer affordable service packages.”
