What does it sound like?
“I need to speak to my accountant about this.”
Where does it typically tend to show up?
Closing Call: selling an Approval to a merchant.
What do we do with it?
Turn around. Key Objective: to turn around the objection, engage the prospect further, and continue to guide through the sales process to ultimately close and fund!
How do we turn it around?
“Great, I agree. What time today can we all speak?”
Why do we say it?
Many times, the immediate reaction to this objection is the feeling of disappointment – disappointment that now another person is being introduced into the mix and this is going to slow down the sales cycle, at best.
In the past, the way this objection was typically handled was to try prevent this extra step from even happening and force a close right there and then. Don’t let the merchant off the phone till you win the deal!
There are specific reasons why the merchant is telling you they need to speak to their accountant, and as their Funding Pro and Trusted Advisor, its your job to find out why and resolve it with them.
A few questions that need to be thought about as soon as this objection comes up are:
Is this a smokescreen to buy more time or non-confrontationally say no?
Is the merchant the true decision maker?
What level of influence will the accountant have on the buying decision?
What are the specific questions and concerns the merchant has that require an additional set of ears and voice?
“Great, I agree.” Here you are acknowledging and respecting what they feel is the right thing to do, because it is. The merchant is being wise in seeking out additional counsel, as you would be in their shoes.
This is an important business and financial decision that will have a direct impact and produce Key Business Outcomes.
“What time today can we all speak?” This further demonstrates you’re on board with their next step, by assuming their next step with them. If the accountant is in fact the decision maker or has great influence on the buying decision, you will definitely want to speak directly with him/her.
This question will elicit a response that can give you a better idea of whether this is just a smokescreen to get off the phone at that immediate moment or if its for real. Hesitation, tonality change and fumbling around will indicate it may be a good time to prod a bit further about any concerns you can help them with now on the current call.
If its for real, its obvious that the in-house accounting, CFO, bookkeeper, CPA, controller, etc. is already a Trusted Advisor to the merchant. It would not be smart to downplay this person or this conversation, as this person has more rapport and experience with the merchant than you do at this point, so respect is key.
The most effective step from here is to get on a 3-way call with the merchant and the accountant to answer all questions in real-time and consult them through the terms, process and business growth impact.
Schedule a time and make it happen.
Always Be Funding