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Free Starter Kit — Case Study #3
Overcoming Prospects Objections
Client:
Jim Muehlhausen, CEO Focus
Jim created a licensed business that is flourishing
around the country. It brings together CEOs of small to mid-sized
companies for group coaching and mutual collaboration to grow companies.
His website:
Jim has chosen not to put his success stories on his website. Rather, he asked me to create a CD for him with 5 of his Raving Fan stories, and 3 interviews with Jim that explore his unique approach to helping CEOs.
Marketing Challenge: As Jim said, "It is hard to understand what we do, and it is not inexpensive to join us. That made sales difficult."
Jim has worked with literally hundreds of CEOs. It is what he does. It is also what all of his licensees do, hence he has a very broad perspective when it comes to how small to mid-sized companies go about marketing and sales. The first thing he noticed was that most companies did not have any testimonials, much less the kind of success stories we have here. And he needed something to really help him communicate his message.
Jim got most of his leads through speaking engagements. But you know what? EVERYONE says they want to make a change in their business. But FEW really are willing to invest time and money in doing so. Jim uses his CD of success stories to weed out the "tire kickers." If they are not willing to listen to all of the interviews, they are probably not a prospect for Jim. This saves him a ton of time chasing "phantom leads."
Listen carefully to the interview below and see how well his clients overcame the questions that most prospects would have. Notice that the questions are asked in a somewhat provocative style, for example, "Why would you pay so much for this help?" That is not typical of most interviews (because clients fear what the answer might be!)
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Can this program work for ME? — Notice that Randy is challenged when he says that he can get value from other CEOs outside of his industry. Why challenge someone who has already said something good? Because THAT question is likely to be on the mind of your prospects. (And I already knew the answer!)
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How does this really work? — People have more comfort buying when they understand the basics of how something works — why it makes sense. They do not want or need too much detail. But it helps them to understand why the concept is valid. How much detail do you give them? It depends on how hard the concept is to understand! By the way, it is one thing for YOU to tell a prospect how things really work, but it is much more powerful to have a client tell them the "inside truth."
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Why is this different from other solutions? — You know your prospects know your competition so address their concerns about why you are different and better than your competition. Be specific. Get to the heart of what your value proposition is.
- What does success look like? — Can you give me an example so I can understand what success looks like to you? You see, we all have different viewpoints when it comes to success. If I can hear what your clients think is success, then I can understand what I can expect.
- Why shouldn't I buy? — Nothing is right for everyone so help me understand why I might NOT be successful using your product or service.
Listen to this interview with one of Jim's clients, then return here to listen to Jim talk about what he learned in this process.
Click on the picture of Randy
to see the movie!
Now listen to this interview with Jim Muehlhausen to discover what he learned from doing these interviews with his clients.
Click on the picture of Jim
to see the movie!
Quiz:
(Answers below)
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What can your clients understand about your services even better than YOU can?
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Why is understanding your "process of working" important to prospects?
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Who could possibly understand what makes you different?
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Why are actual examples of success so important to your prospects?
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Why should you bring up possible objections?
Answer Key:
- They were once prospects. So they understand how a prospect would think about your services.
- It is hard to sell "magic." People like to understand at least a little about WHY your stuff works.
- Your customers are willing to PAY you for what makes you different. If there is anyone on the planet who knows your true value it is them!
- Because what is "great success" to one person might only be moderate success for someone else. Specific examples help prospects manage their expectations.
- In most cases you already KNOW what objections will come up with prospects. If you can diffuse them early in the process, you can avoid them becoming set in stone in the buyer's mind.
