There are certain objections that I hear more than others. Lately I have had several reps in highly competitive markets tell me they are hearing, “I just switched processors a few weeks ago!” Let me tell you how I handle this objection.
First of all, if you are hearing it a lot, think about your marketing strategy. Realize you may be hitting a market that is highly saturated. This doesn’t mean you cannot make sales. But you need to adjust your pitch and possibly look for some easy money in nearby rural towns which are less saturated with credit card processing companies.
Also, you could try walking in cold turkey instead of telemarketing for appointments. This will open you up to a different set of business owners who manage to avoid telemarketers through caller ID or employee procedure but have no method of escape from a local sales person who walks in off the street. When you do run into this objection, stay positive as if you are glad to hear they are in the market to switch. The conversation could be as follows:
You: “So you just switched within the last 30 days or so?”
You: “Good, most companies have a trial period for at least 45 or 60 days. So if we are saving you a good bit of money over the other company, we should be able to get you over to our company with no cost at all. If there is an early termination fee, I would be willing to cover that. (Do not pause here for a response; move quickly to the next line.) Now let me ask you, was it a local rep who gave you the quote or were you dealing with one of the large companies?”
Client: “It was a large company”
You: “Okay. As I said, my company is a small business based right here in X city. I’m sure if I can save you some money and get you switched without any fees, you would want to support the local small business community, right?” At this point, the client will probably respond with a neutral answer. You: “I tell you what, since we don’t even know how much I can save you yet, how about I swing back by on Thursday? I’d like to just give you a free price comparison sheet so you can make an informed decision; can I at least do that?”
Client: “Sure, you can do that.”
You: “Okay, great. Do you have a recent processing statement here from the original processor or should I swing back by to pick that up tomorrow?” At this point, you might also want to ask if this is the same statement that the competition used to do their analysis. Ask if you could take a look at a pricing sheet when you come back by on Thursday. Since our pricing is very different, you could help the client compare rates. (Explain Interchange Plus pricing.) Hope this helps.
As always, email me with questions.
Read the previous article: What Not to Promise a Prospect
What Not to Promise a Prospect