One of the biggest fears people have about sales is overcoming objections. You know they’re coming, in nearly every sales meeting. Why? Well, prospects object for various reasons. Many people feel like it’s simply something they should do when interacting with a salesperson. So today I’m going to share with you two models for overcoming objections. They’re similar, but each is unique in their own way. They usually work best with shorter sales cycles and lower priced products or services. For instance, these concepts are great when it comes to selling washing machines, but not so much for a million-dollar product in the oil and gas industry. So take a look at them and see which one suits you better.
First up is the RACC model. RACC is an acronym that stands for:
R – Restate
A – Answer
C – Check
C – Continue
Let’s go through the model with an example. Suppose that your prospect’s objection is cost: your service is too expensive. You’ve probably encountered this objection before, since it’s so common.
First, you just need to restate the objection. Something like, “From what I understand, you are interested in the service, but the investment is a bit steep for you to take on all at once, is that correct?” By restating the objection, you can then answer it. Offer a solution to their problem, such as, “What if we break the investment down to six monthly payments? Would that be a better fit for you?” You can also offer a discount or another solution, of course, but this is just one example.
Next, you check if the solution works. It’s as simple as asking, “Would that work for you?” Make sure you and your prospect are in agreement before moving on. If they give you the nod, go ahead and continue with your closing.
That’s it for the RACC model. The next model is called the Feel-Felt-Found. Again, it’s very similar to RACC, and we’ll go over it with the same example objection that your service is too expensive.
The first step, Feel, is the same as R in RACC – restating the objection. Except this time, you’re going to focus more on the benefits. For example, “Just so that I understand, you really think the service can help you with marketing and bring you more business, but you feel like the investment is just a little too high for your current budget. Is that correct?” Talking about the benefits first is great because you don’t want to hyper-focus on the objection all the time. You need to mention what’s working well in your favor.
The second part is Felt. Here, you use an example to demonstrate a similar objection you’ve encountered in the past. You might say, “A new client of mine felt the same way you did. He wanted the service and saw how it could improve his business, but the investment was just a bit too steep. So I know exactly how you feel.” Make sure your prospect feels understood and comfortable.
The final part is Found. Here you give them a solution. Continuing with our example above, you might say, “What worked for my client was breaking the investment down into six monthly payments. He was able to fit the service into his budget and benefit from it immediately. Will a similar arrangement work for you?” Basically, you’re giving your prospect a solution you’ve used successfully in the past, and see if it works for them as well.
That’s it, the Feel-Felt-Found method. I suggest that you try out both this and the RACC model, to see which one you prefer. With both methods, sometimes you may have to repeat the process a few times to get to the root objection. And once you’re there, remember that you won’t be able to overcome every single objection. Your product or service is not a good fit for every prospect either, so keep that in mind. Go ahead and take action with both of these models this week during your sales process. With enough practice, your closing rate will definitely improve!