Podcast
Questions and Answers
What percentage of the time did the prospect provide the real reason for not buying?
What percentage of the time did the prospect provide the real reason for not buying?
What phrase did the author find effective in identifying hidden objections?
What phrase did the author find effective in identifying hidden objections?
What did J. Pierpont Morgan, Sr. suggest about people's reasons for actions?
What did J. Pierpont Morgan, Sr. suggest about people's reasons for actions?
What was the main obstacle the author faced when trying to sell insurance to the carpet-manufacturing company?
What was the main obstacle the author faced when trying to sell insurance to the carpet-manufacturing company?
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What reason did the president of the company give for not proceeding with the business insurance?
What reason did the president of the company give for not proceeding with the business insurance?
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What was Bob's primary concern regarding the insurance plan?
What was Bob's primary concern regarding the insurance plan?
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What reason did Mr. Lindsay initially give for not wanting to buy life insurance?
What reason did Mr. Lindsay initially give for not wanting to buy life insurance?
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What strategy did the salesman use to uncover Mr. Lindsay's true feelings about insurance?
What strategy did the salesman use to uncover Mr. Lindsay's true feelings about insurance?
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How much money did the sale to Bob ultimately generate for the salesman?
How much money did the sale to Bob ultimately generate for the salesman?
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What did the salesman learn about Mr. Lindsay's financial situation during their conversation?
What did the salesman learn about Mr. Lindsay's financial situation during their conversation?
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Why does the salesman routinely question objections given by clients?
Why does the salesman routinely question objections given by clients?
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What did Bob feel about the representation of his risks in the insurance plan?
What did Bob feel about the representation of his risks in the insurance plan?
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Which emotion did Mr. Lindsay display when first meeting the salesman?
Which emotion did Mr. Lindsay display when first meeting the salesman?
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What was Bob's profession that involved considerations of family financial security?
What was Bob's profession that involved considerations of family financial security?
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What unexpected challenge did the salesman face when meeting Mr. Lindsay?
What unexpected challenge did the salesman face when meeting Mr. Lindsay?
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Study Notes
Hidden Objections in Sales
- Prospect's stated objections often mask the real reasons for not buying (62% of the time).
- People sometimes give misleading reasons to sales representatives.
- J. Pierpont Morgan's quote: "A man generally has two reasons for doing a thing-one that sounds good, and a real one." supports this observation.
Finding the Real Reason
- Phrase "In addition to that..." elicits the real objection.
- This phrase helps uncover the underlying reasons behind the initial response.
- Example: A prospect's initial objection that "we are losing money" was revealed to be a facade of his concern over the impact on two sons.
- Repeated questioning with the phrase, "In addition to that...", disproves the initial rationale.
- Successful use resulted in a $3,860 sale.
Importance of Patience
- Even when the initial objection seems logical, further questioning is often necessary.
- Example: A prospect stating he doesn't believe in insurance was a mask for a hidden issue - a significant financial burden.
- Persistence and patience are important for extracting the real objection.
Handling Objections Beyond Insurance Purchases
- Salesperson encounters a problem with a large account loss.
- The initial response that "We decided to give another concern a trial" masks a further reason - the company discontinued a specific discount without notifying the customer.
- The key phrase, "In addition to that...", uncovered further underlying concerns impacting the sale.
- This case highlights the use of the method in a situation extending beyond insurance.
- The solution involved clarifying the specific incident; and re-establishing trust with the customer.
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Description
This quiz explores the concept of hidden objections in sales and the techniques to uncover them. It highlights how initial objections often conceal real concerns and demonstrates the power of probing questions like 'In addition to that...'. Test your understanding of these concepts and improve your sales strategy.
