What does it sound like?
Where does it typically tend to show up?
Prospecting Call, making contact with a lead for the first time.
What do we do with it?
Turn Around. Key Objective: to turn around the objection, engage the lead further, and continue to guide the lead through the sales process to ultimately close and fund!
How do we turn around?
“Great! Not interested in additional capital or you have no current projects this month?”
Why do we say it?
“Great!” disrupts the merchant’s pattern. Most people expect the sales rep to either immediately get defensive, try to shove their way into the communication and hard-close the person on why they should listen to them and buy from them – OR – more commonly, the sales rep to fold and say, “ok” and hang up the phone.
Strategic Questions are the Funding Pro’s best tool to drive Results/Revenue.
“Not interested in additional capital or you have no current projects this month?” is a mini alternative close. To effectively drive the Sales Process and consistently fund more deals month over month, we must stack mini closes – building commitment all the way.
Here, we are closing the merchant on continuing to engage with us, so we can earn trust, continue the conversation to eventually lead the conversation.
The first part of the question acknowledges the initial response. It may very true that they are not interested in additional capital (from a source like the one they worked with in the past/for the same terms as what they experienced in the past/etc.) Remember, human psychology stacks past experience to anticipate what is coming in the future.
It’s called thinking by analogy. The easiest way to get shooed off the phone every call is to allow merchants to mentally group you together with everyone else who has been calling them. You must distinguish yourself.
This Objection Turnaround is part of the distinction process.
The last part of the question alludes to the area of their business that will be very challenging to say no to.
“Projects? Well, I always have projects…”
We are not just shoving money down the merchant’s throat if they are in need now, we are there to be their Trusted Advisor.
In small business, the capital funds projects that ultimately drive more revenue. And projects are ongoing 365 days a year.
SPEAK TO THAT!!
This will typically draw out more information that can be used to serve the merchant now or in the future. If they qualify, its a pipeline addition now or coming up.
Always Be Building Pipeline!
Hope everyone is enjoying the Holidays. Happy New Year!!