As salespeople, we deal with rejection on a daily basis. The way that we react to this rejection can either make us or break us. Charles R. Swindoll once said, “Life is 10 percent what happens to us, and 90% how we react to it.” This statement is incontrovertible and the epitome of truth. In sales, as in life, failure is a forerunner of success; we must fail many times in order to succeed only once. A successful salesperson is resilient and has bounce back ability; no matter what trials or tribulations come their way, they emerge triumphant in the face of adversity.
Rejection and objections come before, during, and after a sales presentation. The key is not to take the rejection and objections personally, but to look at them as an opportunity to turn a prospect into a customer. Objections are simply concerns and reservations that need to be addressed and overcome before the prospect makes a commitment to buy. Objections in any type of sale include: need, want, finance, trust, urgency, and cognitive understanding of the product or service. The best salespeople have a well planned and well rehearsed rebuttal to all of these objections and concerns. Objections need to be handled with confidence, sincerity, and enthusiasm. Prospects are only going to be as confident to buy a product or service as the salesperson is to market it.
When a potential customer says “No,” that “No” simply means not yet. Studies have shown that 80 percent of consumers say no 4 times before they finally say yes and agree to make a purchase. The problem with most salespeople is that 92 percent have given up after hearing no for the 4th time, 66 percent after the second time, and half of all sales presentations end without the salesperson ever asking the prospect to buy. These numbers are staggering.
Everyone has heard of the 80/20 rule, also known as the Pareto principle, which states that the top 20 percent of salespeople in an organization generate 80 percent of the sales and therefore make 80 percent of the income. I believe it’s more like 92/8. The Bible says, “Ask and Ye shall receive.” The bible is right; if you do not ask prospects to buy, you’re never going to be successful in sales.
In sales, we need to make the Law of Averages work in our favor by asking as many prospects as possible to buy our product or service. The most successful salespeople get the most “no’s,” however, they also get the most “yes’s” and therefore, make the most money. If you want to generate more sales……………..JUST ASK!!!!!
Daniel Hardwick is the managing director for PJP Health Agency Inc. He is also an Independent Sales Consultant responsible for the success of numerous small businesses. He has a strong passion for teaching others and sharing his sales techniques. He can be reached at firstname.lastname@example.org and 516.903.0168.