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    Outbound Squad

    The best objection handling tactics you’ll watch in 2023

    Tue Jul 18 2023
    salesobjection handlingconfidence buildingcommunication strategiescompetitor objectionsauthenticity in sales

    Description

    The episode covers various aspects of objection handling in sales, including building confidence, overcoming intimidation, developing a professional mindset, handling objections through email and phone, selling the meeting instead of the product, addressing competitor objections, effective communication strategies, using customized videos and bold approaches, and developing authenticity and building sales skills.

    Insights

    Lack of confidence is a barrier to making more calls

    Sales reps should focus on building confidence in objection handling to increase their call volume.

    Agreeing with objections and incentivizing prospects leads to better outcomes

    By agreeing with objections and incentivizing prospects to share more information, sales reps can sell the meeting as a valuable experience.

    Understanding competitors and addressing objections effectively

    Knowing competitors' positives and negatives helps in responding effectively to objections, while addressing the elephant in the room can disarm objections.

    Effective communication strategies and follow-up techniques

    Using multiple choice options, calling prospects who don't understand your offering, and sending customized videos can improve communication and response rates.

    Being bold and authentic in sales

    Practicing blurting out first reactions, using the disarmingly blunt approach, and developing authenticity can differentiate sales reps and improve outcomes.

    Chapters

    1. Lack of Confidence in Dealing with Objections
    2. Overcoming Intimidation and Developing a Professional Mindset
    3. Value Proposition and Framework for Handling Objections
    4. Selling the Meeting and Handling Competitor Objections
    5. Effective Strategies for Dealing with Competitors
    6. Strategies for Overcoming Objections and Building Rapport
    7. Effective Communication Strategies and Follow-up Techniques
    8. Using Customized Videos and Bold Approaches in Sales
    9. Developing Authenticity and Building Sales Skills
    Summary
    Transcript

    Lack of Confidence in Dealing with Objections

    00:01 - 07:09

    • Lack of confidence in dealing with objections is a barrier to making more calls
    • Mistakes reps make when handling objections will be discussed
    • A framework for approaching common objections will be provided
    • Handling objections through email versus phone will be covered
    • Building confidence and having fun in objection handling will also be discussed
    • Examples of how to respond to different types of objections will be shared

    Overcoming Intimidation and Developing a Professional Mindset

    06:41 - 13:37

    • Feeling intimidated by prospects with more experience is common in sales conversations.
    • Being formal doesn't necessarily make you professional; it's about being respectful and expecting respect in return.
    • When faced with objections or interruptions, stand tall and own your space instead of rushing through your pitch.
    • Having door-to-door sales experience can help develop a mindset of not letting others affect your emotional state.
    • Preventing objections is key, so avoid sticking too rigidly to a talk track and focus on active listening.
    • Use fishing hooks in conversations to uncover underlying problems that lead to objections.
    • Tailor your approach based on the prospect's situation, acknowledging budget constraints but emphasizing goals.

    Value Proposition and Framework for Handling Objections

    13:17 - 19:54

    • Outbound goals may have remained the same despite frozen budget
    • Value proposition should focus on prospects' goals and problems, not just selling the solution
    • Framework for handling objections: agree with the objection, incentivize them to share more, sell the meeting not the product
    • Step one: Agree with the objection every time
    • Step two: Incentivize prospects to give more information
    • Step three: Sell the meeting as a valuable experience, even if they don't buy immediately
    • Consider what prospects will take away from a call outside of learning about your platform

    Selling the Meeting and Handling Competitor Objections

    19:27 - 26:36

    • AEs should focus on selling the meeting, not just the product
    • Aurum sells the meeting by offering a demo along with coffee and cold calls
    • Insights are valuable in sales meetings, such as strategies for prioritizing top accounts
    • Competitor objection can be addressed by agreeing with it and offering value in testing out a new solution
    • The Mr. Miyagi framework helps handle objections effectively

    Effective Strategies for Dealing with Competitors

    26:11 - 32:44

    • It rarely makes sense to drop a tool like Honda Civic over the next six to 12 months.
    • Customers jumping off the tool is uncommon.
    • Using phrases like 'this is probably not even going to make sense' and 'my guess is this isn't even going to be a thing over the next six months' helps disarm objections and show humanity.
    • When dealing with competitors, address the elephant in the room by saying, 'Can I tell you what they're going to say about us?'
    • Knowing your competitor's positives and negatives helps in responding effectively.
    • Memorizing an entire battle card can lead to confusion, so focus on remembering one thing you do better than each competitor.
    • Being knowledgeable about the competitive landscape is crucial for being a trusted advisor.
    • Acknowledge when someone is already using a solution and use pros and cons to demonstrate your value.

    Strategies for Overcoming Objections and Building Rapport

    32:33 - 39:30

    • Acknowledge the prospect's current solution and mention pros and cons in a way that gets them to think about what they're not able to accomplish.
    • Use examples to highlight the limitations of the competitor's solution without accusing or poking at them.
    • Ask account executives why they win competitive deals to inform objection handling strategies.
    • Give two or three things that the competitor is good at, then mention one thing they don't like about them to put their guard down.
    • When faced with an objection like 'we're working really good right now,' agree with it and ask for more information to uncover potential pain points.
    • Sell the meeting by making it easy for the prospect to select a solution in the future and offering insights into how other companies in the space operate.
    • Reduce friction by understanding that prospects are busy doing other tasks when you reach out to them.

    Effective Communication Strategies and Follow-up Techniques

    39:01 - 46:01

    • Prospects are often doing something else when they pick up the phone, so they may not be fully focused on the conversation.
    • Giving prospects options and using multiple choice can make it easier for them to interact with you.
    • When a prospect responds to an email or cold call but doesn't understand what you do, calling them is the best course of action.
    • If their phone number is in their signature, call them immediately.
    • If you can't reach them by phone, send a thoughtful email acknowledging your mistake and asking for another chance to address their needs.
    • Weaving in a customer story that relates to the prospect's situation can be powerful in getting a response.
    • Sending a customized video that highlights the problem and how your solution can help can also be effective.

    Using Customized Videos and Bold Approaches in Sales

    45:40 - 52:19

    • Sending a highly customized video can help uncover the root of a problem and elicit a response.
    • When prospects ask for more information via email, ask them what's most important to highlight in the email to gauge their interest.
    • If prospects are just being nice and want you to go away, offer to send information but also ask if they actually want it or prefer not to be cold called again.
    • Create less friction by scheduling a meeting on the calendar alongside sending information, giving prospects the option to accept or decline based on their interest.
    • The disarmingly blunt approach can be effective in sales calls and cold calls, and can be practiced in safe spaces with friends by playing a game of first reaction.
    • Getting started with being bold and blunt involves blurting out your first funny reaction to objections in a safe space.

    Developing Authenticity and Building Sales Skills

    51:54 - 58:25

    • Practice blurting out the first reaction in a safe space
    • Get good at first tapered reaction with prospects
    • Improv technique can help in sales to be more natural and authentic
    • Personality is a big differentiator in sales
    • Creating a loose atmosphere with SDRs allows them to unlock their voice
    • Virtual sales floor replicates the energy of an in-person sales floor
    • Tuning into someone's cold call on the virtual sales floor is beneficial
    • Connect with Armand on LinkedIn and check out Orum for more information
    • Armand runs a show called '30 minutes to President's Club'
    • Jason will have a big appearance on '30 MPC' in about a month
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