Whatever the product or service you are selling, you are going to encounter objections to your offering. If there were no objections, there would be no need for you to sell your service.
Objections are statements from your prospects that usually mean that they require more information before they will commit to your service. Choosing a provider of intellectual property service is not a small deal. That means that your prospect wants to do their due diligence properly.
When you encounter objections, the worst thing to do is to start fighting back. It is not the fault of your prospect that you have not articulated the value of your IP service properly. It is all on you.
Instead, have empathy for you prospect. Try to think from their perspective and see where they are coming from.
I am generally against frameworks because they usually restrict your ability for improvisation but when handling objections during the sales call, there is one that I have found very useful.
It is called the triple F. The triple F stands for “Feel”, “Felt”, “Found”.
“Feel” means that you try to understand the concern of your prospect. Let’s assume that you are selling your IP service to a start-up entrepreneur who has given you an objection on your pricing. You might say something like:
“Mr./Mrs. Prospect, I understand where you are coming from. If I were in your position, I would have similar concerns because every single penny counts when you are running a start-up business. And protecting your intellectual property is not necessarily going to be cheap.”
“Felt” means that not only you understand how they feel, rather there are many others that have shared the feeling of your prospect. You may continue with something like this:
“My previous start-up clients had similar concerns about the costs as well. They were asking themselves is it really worth the investment. And what if the costs are going to rise too high.”
“Found” means that you tell the prospect what your satisfied IP clients have found as a result of investing in your intellectual property service.
“What my start-up clients have found, after investing in our IP service, is that they have achieved the peace of mind as they know their innovation is properly protected. Furthermore, they have been very pleased that they have received advice on how they can use their intellectual property also as a strategic business weapon. Would you like to hear some of the testimonials of our clients?”
What do you think? Is this a more effective way of handling objections than trying to argue with your prospect?