We’ve all been there. We’ve done the work, thought we had positive buying signals, and then the brakes come on!
The customer has an objection to the product or service you’re selling.
Whether it’s the standard “I just want to sleep on it” (and they aren’t buying a mattress) or perhaps “It’s a little too expensive”. These are both objections that indicate you haven’t created enough desire for the customer to want to purchase.
Here at RedSeed, we overcome objections with the help of the short snappy acronym: ‘LAER’.
‘LAER’ stands for: Listen, Acknowledge, Explore, Resolve.
First and foremost, ensure you actively LISTEN to the entire objection. Once you’ve listened to the objection fully, you can effectively work to overcome it. Don’t butt in or get defensive. Remember they’re objecting to purchasing the product, not you!
The next step is to fully ACKNOWLEDGE the objection. It helps show empathy and demonstrates you’ve heard and understood their objection. We like to use language such as: “I completely understand – it is a hard decision”.
From there, you can EXPLORE. Ask questions to clarify the objection and find out more about why they’re objecting. Use questions like “So, what is it you’re unsure of?” “What do you think of the colour?”
Then lastly RESOLVE the objection. You may need to explain in more detail the FAB’s (Feature, Advantage, Benefit) of the product or share some research or case studies from other happy customers to help you handle the objection.
With a price objection, you need to find out if it’s budget or value. If it’s value, be smart and build up the FAB’s (Feature, Advantage, Benefit) to show that it is worth the price without agreeing to give them a discount and losing your margin. If it’s budget, you need to show them something in their price range.
We’re certain if you follow ‘LAER’ technique above you and your staff will be able to overcome objections more often, and in-turn get more money in your till. And remember, make sure to use good eye contact, nod your head and never take objections personally!