Handling Sales Objections

Just because a prospective client objects to your proposal is not a signal to fold up your tent and quit. Your response may be what closes the sale.

The feel-felt-found technique is easy to apply in overcoming an objection. A prospect may tell you that they cannot afford an accountant because their business is too small.

Your response might be, “I understand exactly how you feel. Many of my clients felt the same way when they started out with me. However, they found that-my hands-on, professional service does not cost money … it makes money.” This approach points directly to the question, “How can you make me money?”

The question, “Oh, why do you say that?,” was made famous many years ago in a popular sales training course. When a prospect raises an objection to your fee, ask this question. Listen very carefully to the response. Exactly why is the buyer reluctant about price? Did you fail on his “good deal” scale by not offering enough value for his cost? Does the prospect want to hire an accountant, just not your firm? Is your fee beyond his budget? Often the objection vocalized is not the real issue you must overcome. Listen carefully and ask more probing questions.

To sign up new clients, you do not need to be an extrovert or a super sales person. First, make sure you are dealing with the decision maker. You must project an attitude of professionalism and confidence. You need to show up on time, dressed appropriately.

The first step is to introduce yourself. Give the prospect your card and ask for one in return. You want to set the prospect at ease, and then build trust and rapport quickly. Be friendly. You are a consultant, and you simply want to help the prospect. You are not a sales person or adversary.

This is the ideal time to explain the two or three most important benefits your firm can bring to the prospect. Do not discuss what you do in a “nuts and bolts” manner. Instead, explain the benefits of having an accounting professional take on this job.

Ask the prospect to tell you about the business, and what they want to accomplish in the next few years. Most important – listen.

• Here are some questions you may ask to build trust and rapport:
• How long have you owned the business?
• Where do you see your firm 12 months from now? Three years from now?
• What are your three biggest business problems?
• What are your three biggest financial and accounting problems?
• How are you doing your bookkeeping, accounting, and tax work at this time?
• Is the business a corporation, a partnership, or a sole proprietorship?

Here are some specific objections and suggestions for responses to them:

I just started my business and it is too early for an accountant.

“With my reasonable fees, this is an excellent time to start with my firm. I will make sure that your books are correctly set up, right from the beginning! My new business clients have found that I keep them in compliance with the IRS and governmental rules right from the start.”

My current accountant does a good job for me.

“You impress me as a smart business person, knowing that you need to have an accountant helping you. I have also found that smart business people like to compare benefits, services, and fees. Are you more interested in lowering your costs or increasing the benefits and services you get?”

Your fee is too high.

“Are you telling me that you are concerned that you are not getting enough value or benefit for the proposed fee? Is that correct? Good, I just want to clarify your concern.” This gets the prospect to agree that benefits and value are more important than the fee. A trial close might be, “If I can lower your taxes and save you ten hours a month, would you let me do your work?”

“I can certainly understand how difficult it is for a farmer to pay my reasonable fee each month. I have a special program where you can pay twice a year, although I help you each quarter. Is it better if I come out Thursday morning or Monday afternoon to set up our system?”

Seasonal revenue streams may require a special payment program. Business in resort areas, where there is a short, two or three month, season, can fall into this category.

I am too busy to meet with you.

Most smart, successful business people are swamped. I have saved successful people just like you thousands of dollars on their taxes. If you give me 15 minutes to learn more about your firm, I am sure it will profit both of us. Can we do that next Wednesday, or would Friday be better?”

I cannot sign up now because … I have to ask my spouse, partner, etc. Let me think it over.

“I understand you do not wish to sign up because you are not sure our proposal is a good value. Can I meet with your wife, partner, etc., to go over the benefits of my program?”

“Who else should I discuss this proposal with?” If your prospect does not have the authority, they will usually tell you who can sign on the dotted line.

“Is there another reason why you want to delay a decision on this?” Listen closely as they may tell you the truth of what their real problem is.

Most of the responses in this area are errors on your part by selecting the wrong prospect to pitch, or accepting stalling tactics by the prospect. You need to get past this and find the undisclosed, secret objection.

If the “no” is a real “no”, examine your presentation. A careful review of how you lost the prospect can help improve your pitch and turn you into a winner!

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