The Pavilion Podcast
The Pavilion Podcast

Episode · 8 months ago

Ep 216: My 4 Step Objection Handling Framework w/ Tom Alaimo


Ep 216: My 4 Step Objection Handling Framework w/ Tom Alaimo

Part of the TGIM (Thank God It's Monday!) series hosted by Tom Alaimo.

All right, everybody, welcome back to the pavilion podcast. Thank God it's Monday. This is the show that gives revenue leaders the tips, tricks and tactics they need to be successful. This month our podcast is being sponsored by outreach, the sales execution platform that helps revenue organizations deliver predictable, efficient growth. All Right, today's episode I'm shaking it up a little bit. I'm going Solo, Solo Dollo here start off the month of meg this is a podcast that actually did for my own show, which is called millennial sales. It helps young salespeople succeed in their career and hope you enjoy it. I go rant for about five to ten minutes and hopefully it adds in value to you. Let's get into it. Who who? All right, everybody, welcome back to the millennial sales podcast, the podcast where young sales people come... get ahead in their careers. I am hitting you with a quick solo episode today, so we're not going to have a guest. To be about five ten minutes of actionable tips to help you with your objection handle. So this is a framework that I've used for quite some time and find to be really helpful. So let's just get straight into the content and skip over all of the extra curriculars. Today. The processes is for leaders, right, and so there's four steps, La Er. So it's listen, acknowledge, explore, respond. We're going to dive into all these. The first step, from before we even get into lae are is, you know, the mindset that you want to have when you're going about objection handling right in the first step to that is understanding that objections are actually a good thing. Right, the questions that you have about your price, about your competitors, whatever it may be, usually means that there's an actual potential purchase that's about to happen. If someone is yessing you to death there, you're probably they're not...

...talking to the right person or the probably have no real interested buy. Right, if you're really considering something, if you were going to buy, say, a car, if you were just kicking the tires, no pun intended, you might just go and test drive and leave and go home for the day and call it a day. But if you went with the intention of really purchasing something, you would ask about the miles, you'd ask about the warranty, you'd ask to see the health report of the car to make sure it's not a lemon. You know, you try to negotiate the price and whatever things that you might may be able to get. So you want to embrace those and use those to your advantage out the sales process. So that's the first thing I want to touch on. Here's the structure. So let's just say that someone's talking to you and a very common objection is around price. Right, I've always sold the most expensive product in my market and generally the best product in my marketing, and that was always kind of like the battle was like, this is the best product, you're going to pay the most for it. This is the song and dance that we need to kind of play for that. So the first step is listen. So you want... actively listen, you want to take notes, you do not want to interrupt. There's some great gong data around pause it when you hear an objection, and this is taken over. You know, millions of sales calls that we have, you know, for our customers and for our prospects, and top performers paused five times longer than everyone else when they heard an objection. So the first thing that most people do is they cut them off and say no, we're not that that, we're not that high price, so we can discount, or this is why we're that price. You just need to listen. You just need to hear as much as possible, because the more that they say, the more that they explain, the better chance it is that you're going to be able to overcome that because you can kind of work around it and think about, you know, different angles that you may be able to take. Okay, the second step is to acknowledge, and this is probably the easiest step to skip, but you shouldn't. Write. It's very subtle, but you want to make them feel heard, right. We know that Eq and emotional intelligence are some of the most important things in sales.

Been Listening to this podcast? You know that that's true, and the skill of empathy cannot be undervalued at all when you're thinking about this. Right. So you don't want this to turn into a contentious thing on a zoom call. You want this to be you and the prospect. You know there's a question, there's a problem and you're going to try to solve the problem and find the solution together. Right. So, a few easy ways to do this say. I hear you. I'm so glad that we're having this conversation. You know, actually most of my customers had to go through this exact process to Du due diligence, you know, when they were going through the process. I'm glad that we're having that conversation or you know, thanks so much for sharing that. It sounds like you're concerned with dot, dot dot. Is that right? And so you want to kind of label what is going on. You want to make sure that you're getting to the right objection right in the net and that kind of leads to the next step of explore, which is sometimes the objection that you hear is not the real objection.

If they say it's your price, it's not really that your price at Fiftyzero dollars. It could be that they don't see that your product or service is going to provide Roy and value to that level. It could be that the budgets not there, or it could be they just want a better deal and they want to, you know, make it feel like they have a good deal and they want to show their boss that they got a good deal right. And so what you really need to do on the explore is be curious, again, another Eq type of skill, and be able to understand what is the actual objection that we're dealing with. And so if someone came to me and said, hey, there's no way we're paying that, that's just way too high a question that you know, something that I might respond with is like hey, I totally hear you on that, just so we can isolate what's going on. Typically, when I have these conversations, folks to be a fall into one of three buckets. Either one, they don't quite see the value and what we're offering compared to that price. The second... that there's just not enough budget or any budget allocated for this. Or the third is that you know they just want to get a good deal and you know that's their job to negotiating, get the get the best deal possible. Which of those would you say is probably the closest to where we are? And so what? If you know where you are and you it's also important to know who you're talking to right. Are you talking to the decision maker? Are you talking to just an influencer who's hearing that or afraid to bring that price ticket to their boss? Are you talking to someone in procurement, in which case it is almost definitely the third piece around just trying to get a better price. Think you obviously want to know who you're talking to, what the context is, but the more you can ask questions and explore what is the actual objection that we're dealing with, then you're going to be able to get there. If it's around the competitor, maybe their boss or colleague is really close with one of your competitors, right, and they need to create a case as to why they should buy you instead of that competitor. So you want to explore understand what the real thing is and only then,...

...only once you can isolate that, are you going to respond. And so the reason that you want to ask questions right, again, going back to gong data, the top performers ask twenty three percent more questions when responding to an objection. So again, you don't want to be defensive, you don't want to just rush into your battle card of why you're better than that competitor or why are worth the money. You want to understand and that's when it turns into a conversation. And so the fourth piece are as for respond and I'm always it's always stuck with me when someone told me the difference between reacting and responding. Reacting is when it's very instinctive, it's emotional and it's right after you hear something and it's like the first thing that comes to your mind, right, versus responding, when is when you take a step second, you take a step back, you understand what's actually going on and then you respond in a thoughtful way to you know, either share an idea of in this case, of how you can overcome the obstacles together, right,...

...and so a good way to do that is to even get permission to do that from them, right. And so you're exploring, you ask them questions, you try to understand, you've isolated with the true objections and then you, maybe a pause for a few seconds, say that, you know, we've definitely come across the situation a lot. Just curious. You know, Tom I can I bounce a few thoughts off you, right, and that then you know something that they say yes, which I believe that they will, unless it's very contentious. Just by asking that question they are allowing you, you know, consciously, to give a you know, to handle that objection and to give your point of it right. And so from there that's when you start talking about whatever it is that you're going to do to handle that objection and that's when you respond thoughtfully and you might be able to handle it right there. It might take a couple other conversations, you might have to send some quality email follow up, you might need to get out of the other stakeholders involved on your side, on the customer side. There's a...

...lot that potentially could get into all this, but that's the four step piece too to handle objections in the last piece that I would bring up, or the last two, is one the tone that you have, Chris boss. You never, never split the difference. That's an amazing book, the Best Negotiation Book I've ever read, and I think you want to really lean into what he says about, you know, tone and pace. Right, if you are speaking very quickly, if you're speaking very loudly, frantically, anxiously, the customers going to be able to pick up on that, obviously right, and so their reaction and their emotions are going to follow what yours are. And so if you are getting frantic, they're going to get frantic and it's going to turn contentious. If you're slow, and deliberate and poised and calm, they're going to follow in suit. So I think, especially in this world of zoom where you don't have body language as much to pick up on, only what's on the screen, I think you want to take a step back. Think you want to show your hands a little bit. There's...

...a lot of psychology that shows if I'm showing you my hands and showing you my hands are empty, means I'm, you know, kind of coming in peace and you know I'm able to be trusted. There's a lot of like deep, deep subconscious psychology around that, and so I think you want to be easy with your tone, in your pace and your body language and be light and loose. The second piece to that is knowing when the objections handled. So again, it could be in this one conversation, it could last longer than that the pending on what your situation looks like. But here's what you want to do. You don't want to linger longer at this table then you need to if you've already handled it. You could do more harm than good if you just keep beating it and beating it and beating it to death. Right. And so a question you can ask what part of your concern around pricing do you still feels unaddressed? Right, they might say what they hope, what you hope they say if you did a good enough job is you know what? No, I feel comfortable on this, like I feel good. Okay, great, let's move on, they say. You know,...

I still don't really see how you're Fiftyzero, you know, or how you're tenzero more than your competitor, whatever it may be. And then you might need to get back into the process and you know you obviously haven't completely handled the objection. So you know in either way. So once you have an addressed, you move on and you know, hopefully you get closer to the close that way. And then you know, as you're going through your sales process, as you're especially at one company, as you're hearing these objections, whether you're inn stre, whether you're in a e or they're a manager, start writing these down. I'm sure you only have five to ten consistent objections that you hear and if you document what those are and you document your responses on what's worked and what has it worked, it's going to become easier and easier over time for you to handle these and and you'll soon be able to handle them in your sleep. So that's the tips, that's the La are way to handle objections quick, little, ten, twelve minutes to help you in your sales process. So if you like this, it subscribed. Would love to see in the feed more often. It be up on linked in. My name is Tom a Lama. I post just about every single... on there, so would love to see you there. Thanks for listening. Hopefully you're handling those objections well and we'll see you next time piece. Thanksgiving for checking out that episode. This was brought to you by outreach, the only company that offers sales engagement, revenue intelligence and revenue operations together in one platform. Outreach helps teams prospect more efficiently for actively fixed deal risks and, when more predictably, discover how you can prove your sales execution at every stage of the sale cycle by visiting outreach dot ioh.

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