Module 11 • Handling objections 1.2.3 Fear
Fear is experienced especially when an expensive product is purchased for example a brand new car or a house. The risk of losing money might also be high, therefore the prospect is fearful. Many people are afraid of taking risks and making mistakes, making a poor impression on friends and relatives, losing assets, or disappointment among many other fears.
The salesperson must discover the fears that give rise to objections and, as in the case of prejudices, handle them in a tactful and respectful way. Provide all facts and evidence to show that the fears are groundless.
The salesperson can provide guarantees and money- back guarantees to reduce cognitive dissonance with the prospect. Verimark, for example, offers a 30-day money- back guarantee on most of their products.
DEFINITION
Cognitive dissonance: It is the distress that an individual experience when confronted with extra information that is in conflict with his current ideas/values.
Activity 3: Class discussion 1. Can you think of more examples how businesses reduce fear that prospects might be experiencing when buying the product?
2. Research the Consumer Protection Act (CPA) of South Africa. What role does the CPA play in protecting prospects/customers and reducing fear experienced by prospects/customers?
1.2.4 Self-satisfaction
When people are satisfied with what they have, for example elderly people who don’t want to buy a smart phone because they are satisfied with their old cell phone that can send SMSs and make/receive calls, this self-satisfaction could lead to objections. They are not interested in modern conveniences and technology. In most cases, it is because they do not know any better, are not aware of what the new product or service could do for them or are unaware they have a need or problem. To overcome this self-satisfaction, it is necessary to show the prospect what he is missing, for example how easy it is to operate the smart phone and all the capabilities of the phone, like being able to take pictures.
1.2.5 Indecision
Sometimes a prospect is indecisive and cannot make up his mind as to whether or not to buy the product.
To overcome indecision, the salesperson should once again go over the steps in the selling process and get the prospect’s agreement on minor detail such as colour, delivery date, method of payment etc. to try and close again. The salesperson can also help the prospect to make up his mind by eliminating the options to, for example, two only, for example, by a shirt that is available in various different colours and the prospect cannot make up his mind as to what colour suits him.
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