One of the top hidden objections to any sale is the consumer’s perspective of risk. What am I risking when I say, “yes?”
- Will it work when I get home?
- Is this really going to solve my debt problems?
- Are mortgage rates really as low as they are going to get?
Your number one priority in sales is to help remove as many of those mental “risk” barriers as possible.
Identify the Risks
The first and possibly the most challenging exercise is to identify the risks. Obviously this is challenging since you are not a mind reader. Most of the time these risks factors are going to be tucked away in the back of the customer’s mind.
The trick is to heighten your listening skills. Customers will give you clues:
- Can I call you back and discuss later? (I think there might be a better deal)
- Can you send me an email with the details? (I don’t understand)
- Why do I need to pay for the appraisal up front? (My house may not have the value)
These and more a subtle clues to what the consumer is afraid of-you need to minimize or remove these risk factors.
Overcome the Objection
Another way to remove the risk is to deal with the objection. Show understanding and start a discussion regarding the risk. The risk now becomes and objection and you are simply overcoming it with empathy and understanding. This technique can allow you to allay the fear without having to necessarily remove the risk.
This is particularly important when you can’t remove the risk (i.e., appraisal fees or guarantees of staying out of debt).
Probe for the Risk Factor
Some risks will be less easy to identify. In this case you may have to do some probing.
Use some of the objections and risk factors you have uncovered in the past:
- Are you worried about falling back into debt?
- Are you concerned what this will do to your credit?
- Do you think your home may not be worth enough?
By probing and getting the concern out on the table you can attack it and remove it from the sales process.
Master Risk Removal Technique
Like any good sales technique, it will take practice. As you learn the art and the most common risk factors in your customers minds, you can start removing them.
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