What does it sound like?
“We’re already working with someone else!”
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 it around?
“Great, what results are you getting?”
Why do we say it?
There’s two responses merchants typically get when they introduce this objection into a sales conversation:
“Okay, have a nice day.”
“We’ll beat whatever they’re offering you!!!”
The first is very passive and prematurely ends the conversation, the second is aggressive and sometimes effective at continuing the call.
The challenge is that most of the competition who is working to overcome that objection will offer to beat the other vendor – merchants hear it a lot, and they get numb to it.
At this point, we don’t know what “working with someone else already” really means.
With this question, we can start to uncover how to meet the customer’s needs at a higher level and win their business.
A positive response allows you to then ask about what is working well for them with the other vendor – this is your in to understanding how you can serve them better.
A negative response allows you to ask about what needs must be met for them to get what they want – this is your in to winning their business.
Listen in for key points and answer these questions:
- Who is the other vendor (somebody else)?
- At what Stage of the Sales Process are they in?
- Have they funded already and are up for renewal?
- What is the merchant’s objective, his/her Key Business Outcome?
Oftentimes merchants believe they are all set just because they are already working with someone else. You can convince them otherwise, if you can continue the conversation. Merchants could care less about lofty statements, but they will engage with irresistible strategic questions. Ask on!
Always Be Building Pipeline!
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