I'm satisfied with my present source well, maybe
The prospect is not waiting by the phone for your call. Most people have what you're selling and are doing business with someone else. They have a source for what you do and they think they are happy. Satisfied.
The good news: Satisfied people are willing to do business with others. Your challenge is to get them to do business with you.
For you statistic buffs, "I'm satisfied with my present source" ranks second on the all-time prospect objection list. "The price too high" is No. 1 (and always will be).
When the prospect says, "I'm satisfied," they're really saying:
This is all I know now.
I don't want to bother with you.
I'm doing business with someone I like (and not necessarily the best).
I'm not telling you the real reason "I'm satisfied" is a brush off.
It's not all that bad. Your prospect is saying that their existing supplier is the best they've been able to find.
You may have a better product, price, delivery, service, training, or warranty. The prospect is only telling you he's satisfied from his perspective. He doesn't really know about you or your company yet, but don't give him any reasons to switch until you know why he's satisfied.
Knowing the reason(s) why the existing relationship is satisfactory will help you understand how to proceed. Knowing those reasons gives you a chance.
Here's a few "interest gainers" or challenges that may get you in the door:
Good response: "Satisfied? Great! You're going to love doing business with us our customers are ecstatic. If you're only satisfied, today is your lucky day."
Better response: "Mr. Johnson, Many of our customers said they were satisfied when they were prospects like you. I wish I had $10 for every prospect who said, 'I'm satisfied with my present supplier,' who is now a customer. Let me share a few of their comments (show your testimonial letters that says, 'I used to buy from (name the competitor you hate the most), now I'm a loyal (your company) customer. And I invite you to call me personally if you need further explanation.'" Wow!
Best response: "When you started with your present supplier, you took a risk, didn't you? I'm not asking for all your business, but I'd be interested to know what caused you to take the risk back then, and I may ask you to take that same small risk with me, and let me earn the rest."
Here are a few dialogue starters:
"Most people feel that way at first, but our experience has shown ..."
"What do you like most about your supplier (his product/service)?"
"That's what lots of their former customers said."
"If your friend left the business, but stayed in the industry would you still do business with that company or go with your friend?"
"What would you change about your present relationship?"
"How did the relationship begin?"
"When people say, "I'm satisfied," they usually mean ... "
Find a personal link (common ground) that can trigger a friendly conversation. If they like you, they will listen to you.
"Satisfied or complacent? When is the last time you really looked at the situation and made a comparison?"
Sales caution: If the prospect says, "I'm satisfied," it's open season on the competition. If the prospect says, "I'm loyal," watch out. Loyal is 100 times more powerful than satisfied.
Sales reality: You will not convince everyone. But the more you practice, the more "luck" you will have. "I'm satisfied" is not an objection, it's a stall. If you believe in the value of your product, you can get past it.
Sales tip of the year: Videotape five customers who were satisfied with your competitors, switched, and are now ecstatic with your company. Get your customers to tell your story. It's far more compelling (and believable).
