Debt to income ratio, 80% loan to value, simple interest loan, compound loan. These are terms foreign to most people. As we’ve discovered earlier on in this book, when people do not understand where their money is going, they do not buy. 

• Paying off all of their debt and putting it under one monthly bill.
• Making their credit card bills tax deductible, which they were not before.
• Offering a fixed, lower interest rate than what they currently have.
• Offering cash back out of this loan.
• Reducing the total amount they pay out each month in bills after consolidating all of  them.

“How hard could it be to enroll people in the concept of saving money?” Harry thought. Harry did not close his first three prospects. He could not figure out what he was doing wrong. After all, he was saving people money!

That afternoon, a call came in from someone interested in their services. The ad they ran that morning on the radio pulled in a handful of inquiries. Harry turned to his sales manager for help. He decided to take Paul, his manager, out on the next appointment he went on.

They arrived at Sandra Smulen’s home and, almost immediately, Harry began talking about why he was there. After Harry explained the concept of consolidation, Sandra was still unreceptive. After all, people are very cautious with what they do with their money, right?

Before Harry concluded his presentation, Paul jumped in. Paul saved the deal and walked out with the paperwork he needed to begin the consolidation process. So, what did Paul do that Harry did not?

When the Salesperson Creates The Objection: 

Debt to income ratio, 80% loan to value, simple interest loan, compound loan. These are terms foreign to most people. As we’ve discovered earlier on in this book, when people do not understand where their money is going, they do not buy. 

Although Harry explained the concept of consolidation in terms he understood, he failed to explain it in terms that Sandra understood. Harry never took the time to take the pulse throughout the time he talked at her.

Lay out your information in terms that the prospect can comprehend. Rather than confuse Sandra, Paul made a complex loan appear very simple and beneficial to her. Harry portrayed the process of consolidation as confusing and time consuming and risky.

Ironically, by creating this perception in Sandra’s mind, Harry actually created his very own objection! This would have been avoided if he delivered a message crafted for Sandra to understand.

Here’s what Paul did. Paul simply took out a sheet of paper and listed all of Sandra’s bills. Then he listed the interest rate she was currently paying on her money.

On the opposite side of the paper, Paul showed Sandra the amount of savings she would realize with a lower interest rate and the tax deduction. He wrote down the new total monthly payment for all her bills that she would now be laying out. Paul even demonstrated exactly how much money the prospect will be putting back into their pocket every month. 

Because of the approach Paul used, the prospect was able to visualize and comprehend exactly how this process will truly help.
 
Be cautious of creating an obstacle that would not have surfaced without your help. If you make these assumptions in your presentation without actually hearing them expressed by the prospect, you are putting thoughts in their mind that they might not have thought of until you brought them up! Or, you’re selling the way you buy.
 
Here are some of the statements I’ve witnessed salespeople mistakenly make that create their own objection.

1. I know this may be a large investment for you right now.
2. It might take a very long time to process your order.
3. You might have to go through all of this paperwork again.
4. There are many companies that sell what we have.
5. Do you want to shop around?
6. Do you think the price is high?
7. Are you getting other estimates?
8. Have you gotten any other estimates/bids/Request For Proposals yet?
9. You can probably borrow the money cheaper at your own bank or lending institution.
10. Well, obviously [state leading company in your space] is the best, but if you’re not  going to go with them, with us you are [el] (You can stop there. The foot is already well inserted in your mouth.) 
11. Okay, you know my price, you know what we can do.  So, when you finish doing what you need to, call me when you’re ready, okay?
12. What do you think about the price?
13. You’ll never be able to … (Once again, telling a customer what they can or cannot do is not typically well received.)
 
 Address these concerns only if they are stated or implied by the prospect. Otherwise, you will find yourself climbing over the very obstacles you had created. Hey, it’s challenging enough to stay on top of your game. No need to inflict ourselves further with self-imposed detours, challenges and barriers to selling that prevent peak productivity.