Crucial Sales Terms You Need To Know

Over the years, I’ve learned to really understand some crucial sales terms and what they actually mean. There is one major area where such words or phrases can often be taken at face value, when in reality, we need to dive down deeper into them to find the best outcome when dealing with clients.

It’s the most crucial point in the process, where a deep understanding of the term and what it actually means is key. The term is ‘objection’ and it sends a shiver down many a selling spine! Yet, it shouldn’t. Here’s why…

Understand What Objections Are All About

This is a classic example of an over-arching term leading to either confusion or ineffective responses. Whenever the word ‘objection’ is used it can offer negative connotations; in fact, it might worry the heck out of some salespeople!

sales terms

Yet, it is often a sign of some level of interest on the potential client’s behalf. If he or she has absolutely no intention of going ahead, why are they bothering to object?

In fact, the key is that the term ‘objection’ can, I’ve found, mean one of four different, and crucial, other sales terms. Now, one is a genuine CONDITION – a valid reason why they cannot go ahead with what you propose – and occasionally these do occur. However, the other three terms should each be faced up to and dealt with somewhat differently. Let’s look at each possibility…

Asking A QUESTION

The customer asks a genuine question simply because they want the information. The problem actually lies in the mind of the salesperson, who assumes it to be an objection. A classic example: ‘How much is the monthly premium?’ becomes: ‘She thinks it’s too expensive!’ To be frank, this can arise because of a sub-conscious assumption as to the financial status of the individual seeking the info.

Expressing A DOUBT

Here, the person making the statement can actually be looking for reassurance to make the decision to go ahead – something they actually want to do. Example: ‘I’m not sure it properly covers xxxx’. Your aim should be to give them the confidence to proceed. Incidentally, it might not even really be their doubt. They might be seeking the detail that allows them to explain, or justify, their decision to others, be it a partner, or simply friends they will discuss it with.

It’s A Genuine LIMITATION

In this case, the potential policyholder raises a pertinent point, perhaps about a specific area where coverage is not provided. The solution is to outweigh any such negative thoughts or concerns in their mind with all the positive reasons for going ahead.

Imagine their limitation is on one side of a set of scales. Your aim is not to balance them, but to pile positive reasons on the other side to bring those scales right down in your favor.

One Essential Course Of Action

Having responded to any of the above three possibilities, there is one thing always to do. And that’s to quickly move on through the sales interview process. One key mistake is to ask the potential client, in some way, for their opinion of what you have said. Asking questions such as: ‘Is that okay?’ or ‘Are you happy with that?’ simply invites further, and often not even genuine, ‘objections’!

So, by understanding the possibilities when a client appears to ‘object’, and being able to deal with each on your own terms, is a major way to progress through to a successful conclusion for any call.

If you would like to learn more about sales terms, you need to know, please contact us today.