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The Sales Buzz Issue 120 -Overcome Retail Sales Objections
May 03, 2011
Hi,

In this week's Sales Buzz:

This week I received a question from a small business owner that runs a retail store. She asked, whatís the best way to answer the sales objection, I canít afford it?

This is a common objection in retail sales, showrooms, and forecourt type businesses. If you can overcome this objection you can greatly increase your sales.


I'm Stephen Craine from the website Sales-Training-Sales-Tips.com

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Overcome Retail Sales Objections - I can't afford it

This week I received a question from a small business owner that runs a retail store. She asked, whatís the best way to answer the sales objection, I canít afford it?

This is a common objection in retail sales, showrooms, and forecourt type businesses. If you can overcome this objection you can greatly increase your sales.

The first part of my answer was: you donít answer objections. You follow a process of identifying the real objection and the beliefs and reasons behind them, and then make sure this is the only objection that is stopping the sale. Only when you have done this should you present the benefits of your product that will overcome the objections. Then you can close the sale.


How to identify the real objection

When a customer says they canít afford it they usually hold one of two possible beliefs that have led them to raise this objection.

1. The really cannot afford to buy the product. They do not physically have the cash and they believe there is something preventing them from obtaining other financial resources such as credit.

2. They believe their money is better spent elsewhere. They have allocated their money or financial resources to something they believe is more important than your product.

There is a massive difference between these two beliefs, but they can both lead to the same, I canít afford it, objection being presented. Think about it, if the customer explained the objection fully as we have above, you wouldnít deal with both objections in the same way would you.

So with good sales questions you find the real objection and then use one of the two retail sales tips below to overcome it.


1. Find a way to make the item affordable

This retail sales tip is used when you have established that the customer genuinely cannot afford to buy the product now.

When the customer tells you that they canít afford it do not be tempted to reply straight back with your answer to the sales objection. Before you use your best answer to this objection you first need to establish some facts that will help you to close the sale.

You need to know, and get the customer to confirm to themselves, that the only thing stopping them from buying this product is that they currently do not have the means to make the purchase. If you find that they actually can afford it but they have allocated the available money or finance to something else then move to the 2nd retail sales tips below.


The ideal position to get to in the objection handling process is for the customer to agree that: If you can find a way that they can buy this product they will make the purchase.


Now you are in a position to answer the objection of I canít afford it because you know it is a genuine retail objection and not a smoke screen. You have clearly defined the obstacle to the sale and you can now overcome it. Your actual answers will depend on the type of retail sales that you work in.

What you should have ready is a list of possible ways that you can meet the customerís needs and make the product affordable. This list could include: Finance deals, payment plans, trade-in opportunities with you or a third party, similar products that give the same benefits but are less expensive.

These are what you present as the solution to the objection. But they will not work if the true objection is that the customer has the money but it is allocated to be spent on something they see as more important. Thatís when you need the retail sales tips on building value.


2. Build the value of the item

This retail sales tip is used when the customer has the means to buy, but the money is allocated for something they currently see as more important.

Your job as a retail sales professional is to re-frame that viewpoint and show them the value, the benefits they will receive from the item. You have to influence the retail customer to see your product as more beneficial to them than where they have allocated their available money or finance.

Think about it, have you ever bought something that you couldnít afford. Something that you should have left on the shelf but you felt the emotions and made an impulsive purchase.

Perhaps you missed paying a bill or a meeting a commitment that you thought was important until you thought about the benefits you would get from the item in the store. Weíve all done it, and it happens because we, or the retail sales person, change our perspective.


The important point to remember when using both of these retail sales tips, is to follow a process and clearly define the real objection before you try to answer it.


A good retail professional will also know when and how to gain the customerís agreement, and close the sale. Learning how to overcome retail sales objections increases sales, make money for sellers, and grows businesses.

To overcome the, I canít afford it retail sales objection, and other sales objections, you need to follow a step by step process that defines the objection and leads you and the customer towards closing the sale.

Very early on in my career as a sales manager and trainer I saw the potential of developing a simple objection handling process that sales people could easily learn. I now use this process to earn money with my sales teams and Iím happy to share it with you. You can see more free sales training on using a process to overcome objections at Sales Objections Training...





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Invite your friends and colleagues to get the Sales Buzz.

We've prepared an invitation for you to send. It gives your colleagues information on how to get the Sales Buzz and the 2 free eBooks that they will receive.

Open the invitation and send to as many people as you think will gain from receiving this newsletter. Open and send the Sales Buzz Invitation...




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