How Objection Handling Can Re-Direct Your Business Plan

Posted on January 16th, 2008.

Hi Everyone,

Currently i’m in the final stages of putting together a new business, and as part of the process, i’ve been digging as deep as possible into the market research to find EVERY possible objection i’m going to get from every different ‘marketing angle’ that I intend to execute.

It’s been interesting, because in the past i’ve forged ahead in business with a plan that I ‘think’ I would like to see come to fruition… and it’s usually worked well through persistence. This time i’m going to FORGET that strategy and try a new tact… a more sustainable tact I guess you could say.

Firstly, one lesson that I’ve learn’t is that you really need multiple ‘pillars’ of lead generation… because relying on one way (usually your own motivation) can really stop the cash flow in a hurry should you stop pushing the business. So, what i’m doing is establishing JV partners for the new company i’m starting that will continue to bring business… no matter what my ‘marketing motivation’ is at any given time.

I have my list of JV partners here that i’m going to approach, but rather then go and showing them what I do first, i’m going to leave that until second in the priority of getting the JV deal. First i’m going to sit here and write down every possible objection i’ll potentially get across all the different industries that I plan to JV with. Here’s what’s happened so far…

I did just two different ‘objection plans’ yesterday for just two of the 10 industries i’m going to JV with… and guess what? After doing this, my whole business plan changed, because within two hours I was now 100% seeing through the eyes of the buyer (which is an obvious result)… but now my marketing material and sales letter is pretty much made up of their objections, rather than how great this business is.

The lesson for me here: My sales and marketing angle in my opinion is 10X more powerful now than it was just 24hrs ago.

Make sure you have multiple pillars of lead generation… like JV’s, small classified ads, direct mail and google ads… and work out a different sales angle for all of them based on the buyers objections. This ‘angle of attack’ has totally changed my outlook on how to get customers.

The best part is that the potential clients are actually writing the script for me, and I don’t have to guess what I think they would like to hear!

Please give this a go… i’ve been marketing successfully for years and never felt so much confidence about the success of a start-up business going about it like this. I’ll keep you posted with the progress as it unfolds.

All good

Dean

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2 Responses to “How Objection Handling Can Re-Direct Your Business Plan”

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Great tip Dean. Like you I am about to launch a business. Developing your sales material so you are looking at your product and company through your customer’s eyes, as they ask “What’s in it for me?” Is really powerful. Thanks for reinforcing that.

Nic D
January 17th, 2008

Hi Nic,

Good to hear you’re putting some deeper thought into your marketing plan… it’s best to take the extra time to dig a strong foundation to enable the house to stand longer.

The quickest way to make money in business is to ‘create’ a market, rather than using what’s already there. To do this, you don’t need to create a product, you need to create a new market for a product. A classic example is infomercials… they just create a good marketing campaign for a product that you and I can buy off eBay any day of the week. Not exactly rocket science either… they just take the time to film a good advert, then buy air time at the cheapest time available and roll it out. Half the people behind these type of businesses start with little to know money… just an idea. Pitching it to investors to find the marketing is the hardest part of the process… not the marketing… but then again that’s not too hard either if you’ve got a solid business plan to present.

Keep us posted of any positive/negative experiences you have with the business Nic… would be interesting to learn. I’ll be doing likewise here on this blog.

Dean

deanc
January 17th, 2008