You ask for the order and the prospect does not accept. Is the prospect objecting, stalling or is there a condition that is preventing the sale?
I know these terms are familiar, but I don’t believe most sales people understand the differences between these three no-sale responses. However, understanding the difference will allow you to respond in the proper manner, and help you close a few more sales.
#1 = An Objection
First, understand that an objection is a situation in where the prospect CAN buy, but has made a decision not to do so. While there may seem to be 10,000 objections out there, essentially there are only two. The prospect, for one reason or another, does not fully believe in, or is not SOLD on, the analysis of the problem, or the solution to solve it.
Diagnosis and Prescription
For the prospect to buy, your product or service has to solve a problem the prospect is having or satisfy some desire. Therefore, as you heard me say a million times, you have to unearth the prospect’s problems to expose the want and need. You then present the solution to solve those problems and satisfy the want and need.
When the prospect objects, they disagree with your assessment of the problem or your solution to it. Either, they do not believe that the problem, the need, is as bad or as urgent as you say, or your solution will not solve the problem or it cost more than the problem itself.
Objections are actually a good thing, in that they expose areas in your sales interaction where you may have come up short. Remember, however, that with an objection, the prospect has made a decision. The decision was “NO.” That is also good, because now you can give the buyer NEW information so that they can make a NEW decision
#2 = A Stall
A stall is where the prospect has NOT made a decision, and is doing everything possible NOT to make a decision. The problem sales people have with a stall, is that they usually try to get the prospect to make a decision AND make a positive buying decision at the same time. That’s too much to ask for.
Often, the sales person is trying to overcome an objection, when the prospect has not yet made a decision. In such a case, there IS NO OBJECTION to overcome. The prospect will not decide. With a stall, just help the prospect to make a decision, either “YES” or “NO.” Then, if the decision is no, you have an objection.
#3 = A Condition
A condition is a situation in where circumstances make it impossible for the prospect to buy. A condition is something that neither you nor the prospect can do anything about. A condition is an obstacle in where even if the prospect desperately wanted to buy, they could not.
You should have qualifying filters in place to eliminate prospects that cannot buy, very early in the sales process. However, you will sometimes end up in a situation where something will prevent the sale.
Far too many sales people today, accept routine objections and stalls as if they are conditions, when they are not.
“Your displays look great, and I really wish I could buy them. But, our home office will not allow us to display merchandise from outside vendors. It is a violation of my franchise contract.”
That is a CONDITION.
“Your displays look great, and I really wish I could buy them. But I really just don’t have the funds right now…”
That is NOT a condition.
An objection = give more information to get a new decision.
A stall = help the prospect make a decision and be willing to accept “NO.”
A condition (a real one that is) = qualify your prospects better and avoid this.
MTD Sales Training