What Do Objections Show – Evidence from the Car Industry

What Do Objections ShowWhat do objections show us?
Joe Verde Sales & Management Training, Inc. released some stats a few days ago about objections. They got responses from 153 auto salespeople about what the most common objections they encountered are.
The results are revealing:

Most Common Consumer Car Buying Objections Before Commitment - Joe Verde Survey

I'll think it over and get back to you 37%
I want to shop the competition 25%
Not enough for my trade 9%
I need to check with someone else 7%
It's too much money 7%
I can buy it for less down the street 7%
I'm not sure this is the right vehicle for us 4%
The payments are too high 3%
I don't have any more to put down 1%

What Do Objections Show Us About Salespeople?

I want to mention the 80/20 Rule, also known as Pareto's Law, for a minute. This was one of the first things taught to me in the Operations Management program back in 1994, and I've seen it many times since. In short, it says that most of the results come from just a few of the causes. It's not always precisely 80% effects from 20% of the causes; however, the principle applies here. Look at the first two listings. What do objections show from this research? 62% of the 'objections' are from "I'll think it over" and "I want to shop around" added together.

Wait a minute. Are those really objections?

No. These are symptoms covering up problems! They're saying that well over half the time a car buyer prospect doesn't commit, it's because the salesperson didn't qualify properly and didn't differentiate themselves.

This lines up well with the stats we know about from The Sales Board: Prospects today believe that 86% of salespeople ask the wrong questions, and 82% fail to differentiate themselves.

What do objections show from the car sales study? In the article, Verde says making it easier for the customer to buy is the key. Closing skills. I disagree. The problem is much deeper, and earlier, in the process. If the salesperson doesn't know how to qualify and differentiate themselves, they can do all they want to make the prospect know, like and trust them...and they'll frequently be wasting their time. The salespeople will be trying to sell to the wrong prospects. And that's the source of the trouble.

>> Jason Kanigan is a sales force developer. Was this article helpful to you? Please Like, Share or Comment to let others know! <<