Handling objections and overcoming obstacles is an important aspect inside every HVAC, plumbing, or electrical independent contracting company’s sales and service call process. When a technician, manager, or CSR can successfully avert a customer objection or overcome a client obstacle then the entire process can be carried out in a more effective manner for both the company employee and the client. This is the second week of our exploration of the 5 main obstacles that occur within a sale that are outlined in Zig Ziglar’s quote: “Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust.” Today, we will delve into the details of overcoming the “No Money” obstacle:
2. “No Money”-
The “No Money” obstacle is a bit more straightforward than the “No Need” obstacle that we explored in last Thursday’s blog. The use of the “No Money” obstacle inside the sales process will most likely occur toward the end of the sales presentation when the tech and the client are reviewing options. In some cases, the “No Money” obstacle can turn out to be a legitimate condition that is outside of the client’s current control rather than an objection that simply needs to be overcome. When dealing with a potential client that throws the “No Money” obstacle into the sales process, there are two possible resolutions that can result in closing the sale: exploring finance options and/or exploring the most economical options (whether a repair or replacement). The best and most appropriate resolution depends upon whether the “No Money” obstacle is an objection or condition.
When the “No Money” obstacle turns out to be a condition that is out of the client’s current control then exploring financing options such as; trying to be approved for a loan or utilizing financing options from inside the service company, can be good options that may result in a closed sale. However, if exploring financing options isn’t what the customer wants to do or if the options fall through, then exploring the most economical options can also work to close a sale. At times, going with the option that works best into the customer’s budget may result in a repair or service options rather than a replacement. However, if the service option solves the client’s current problem and the company displays service excellence during the sale and service process, then the company may gain a lifelong and loyal client. Because when the client’s financial condition returns to a more stable and more manageable state, he will most likely return to the company that worked carefully and respectfully with him to get him the best option during his financial crunch.
Exploring financing options can also be a great resolution for clients that may use the “No Money” obstacle solely as an objection. And in most cases, clients that use this obstacle as an objection will be approved for financing options. However, these clients may also be more inclined to explore more economical options for resolving their current problem. If a client decides to go with a more economical service option then it is important for a technician to explain that certain service options may not be a long-term solution to the client’s need but it may serve necessary purposes in the short-run. Technicians can explain this by using “True Cost Calculations” to evaluate the effectiveness of options in the short-run and long-run. Clients that are prone to using the “No Money” obstacle may also appreciate a technician informing them of upcoming company promotions as well as where new promotions can be located on the company website or social media sites.
Learning to overcome the “No Money” obstacle is a key to success inside every independent contracting company. When a service company’s technicians, CSRs, and managers can effectively work past obstacles and hurdles then they can grow strong client retention as well as cultivate solid service excellence. Here at S.E.T., we have beneficial resources and information devoted to helping your company team overcome obstacles at every level of the service and sales process. Thank you for following our weekly post. Here at Service Excellence Training, we turn learning into earning!
-Resource curated by Whitney Stewart of Service Excellence Training.