MarcSmith
sales & training solution
the power of paraphrasing
Recently I was faced with having to renew my cell phone contract. I had thought about changing carriers but wanted to investigate all of my options. Very much like shopping for a car, I surfed the Web and made several phone calls to competitors before reaching a decision to stay with my present carrier, provided I could negotiate the right program that would fulfill my needs. Note that I said “provided I could negotiate the right program.”
After restating, you will want to use phrases such as, “It sounds like...” or, “I hear you saying...is that right?” These questions and statements should be followed with a pause in order for the customer to acknowledge that you are correct and both parties are in agreement.
After speaking with an account rep for several minutes, I was routed to an account manager. By this time, I had experienced a lower level of training, and was anticipating that the manager would have higher level skill sets. After a brief wait, a voice came on the phone. “Hi, is this Marc Smith?” I replied, “Yes.” And then the gentleman asked if it was OK to call me by my first name (more on this strategy in a later topic). Again, I replied, “Yes.” Then he thanked me for being a loyal customer for so many years and apologized for having me put on hold. This was interesting because the previous account rep, after asking permission to put me on hold, had also apologized for having put me on hold.
The sales manager knew that my concern was not having enough minutes and that all he had to do was present me with an alternative or solution that would address the issue. He replied, “What I can do is credit to your account an additional 1,000 free minutes for renewing. You will be able to continue enjoying the same level of service without worry. Should you find that you’re going to increase your usage, you always have the flexibility to call in and change your plan without any charge or interruption of service. Can we get that started for you?” Yes, the close.
“How can I be of assistance?” he asked. I explained that I was considering all of my options in renewing my present service but wasn’t sure that the plan I had discussed with the sales rep had enough minutes. He replied, “I understand.” Then he paused briefly and said, “It sounds like you may have some concerns over the amount of minutes you’re using and that’s what may be preventing you from going ahead with a new plan. Am I right?” “Yes,” I replied. Bingo! One of the biggest obstacles in closing the deal is uncovering or identifying the real objection of why the customer won’t move ahead or deeper into the process, as I like to say. Paraphrasing is the art of restating in your own words someone else’s ideas or opinions. In sales, we use paraphrasing for the purpose of clarification. Once we clarify the objection, then we can address the issue to the customer’s satisfaction, as did the sales manager in this example.
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Once we clarify the objection, then we can address the issue to the customer’s satisfaction as did the sales manager in this example.
When you look at what happened here it was pretty much like a car deal. The manager listened to the sales rep at the desk. He went in on the T.O. (turn over to manager). He listened to what I had to say and simply paraphrased by restating what I had told him. Then he expressed empathy by saying something as simple as “I understand,” and presented a solution or alternative and went for the close. Novice sales people are always giving up gross before they uncover the real objection. Notice in this example the manager didn’t give up anything. Yes, he offered 1,000 free minutes, but also offered the solution of the flexibility to move into another plan if I needed it. OK, so I know you’re wondering, how can I offer up something free? Well, for starters, there is no free lunch and if there is it may be up to the manager to serve it up. However, you still need to isolate and uncover the true objection of why the customer is not making a “now” decision, so that you can prepare the manager for whatever he or she needs to do in order to close the opportunity.
“Paraphrasing is the art of restating in your own words someone else’s ideas or opinions. In sales, we use paraphrasing for the purpose of clarification. Once we clarify the objection, then we can address the issue to the customer’s satisfaction....” So the next time you hear “the payments are too much and we really need to think about it,” or, “the price is higher than we thought and we’re going to look a little longer,” use the power of paraphrasing to uncover the hidden objection, propose an alternative and go for the close. Remember, the only reason a customer can’t buy is if they have no money or no means to borrow it. Every attempt should be made to close the opportunity. Marc Smith is the president and CEO of Marc Smith International LLC. He can be contacted at 866.665.4479, or by e-mail at msmith@autosuccessonline.com.