Andy Elliott Overcomes Objection LIVE // Andy Elliott

Summary

Podcast Summary: Andy Elliott Overcomes Objection LIVE

Podcast Information:

• Title: Andy Elliott's Elite Mindset Motivation and Sales Training
• Host/Author: Andy Elliott
• Episode: Andy Elliott Overcomes Objection LIVE
• Release Date: December 17, 2024

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Introduction

In the latest episode of Andy Elliott's Elite Mindset Motivation and Sales Training, CEO Andy Elliott dives deep into the art of overcoming sales objections. With a dynamic live session, Andy demonstrates practical techniques and shares invaluable insights aimed at transforming both novice and seasoned salespeople into top performers. This episode is a must-listen for anyone looking to elevate their sales game and achieve unparalleled success.

Main Topics Covered

1. The "Rabbit Hole" Technique for Customer Engagement

Andy introduces the "Rabbit Hole" method, a strategic approach to guide potential customers through the sales process to a point of no return. This technique emphasizes building commitment and trust, ensuring that once a customer engages, they are less likely to back out.

• Key Discussion:

  • Initiating Commitment: Andy explains how to ask for the business early in the conversation and handle initial rejections by inviting customers into the dealership to explore options further.

• Notable Quote:

  • "Once they go inside, I'm taking them down the rabbit hole. This is a point of no return." [00:00]

2. Overcoming Objections with Confidence

A significant portion of the episode focuses on handling objections confidently. Andy contrasts amateur behaviors with those of successful salespeople, highlighting the importance of confidence and fluid communication.

• Key Discussion:

  • Amateur vs. Professional: Andy discusses how amateurs falter under pressure, lack confidence, and fail to let their words flow naturally. In contrast, professionals maintain composure and effectively navigate objections.

• Notable Quotes:

  • "Amateurs always lose." [00:06]
  • "Amateurs can't be confident. Amateurs can't push through the sale. Amateurs don't let their words flow like water." [00:08]

3. The Five Minute Proposal

Andy emphasizes the power of the five-minute proposal, a concise and persuasive pitch designed to address customer needs swiftly and effectively.

• Key Discussion:

  • Earning the Right to Enter: Andy explains that salespeople often hesitate to promise swift results, fearing managerial backlash. However, earning the right to present a quick proposal can pivot the conversation towards closing the sale.

• Notable Quote:

  • "Most salespeople underestimate the five minute proposal. Hey, let me give you a quick five minute proposal. And in the end, it's your decision. Is that fair?" [01:34]

4. Utilizing Worksheets and ACV Cards

The episode covers the practical tools like worksheets and ACV (Actual Cash Value) cards that aid in gathering and organizing customer information to streamline the sales process.

• Key Discussion:

  • Gathering Information: Andy demonstrates how to use these tools to collect essential data such as trade-in details, credit applications, and payment information, ensuring a smooth transition through the sales funnel.

• Notable Quote:

  • "This is called a worksheet. You guys got worksheets, ACV cards. You got an ACV card, you fill out, okay?" [00:18]

5. Handling Hypothetical Objections

Andy and his team engage in role-playing scenarios to illustrate how to handle hypothetical objections, refining techniques to maintain control of the conversation.

• Key Discussion:

  • Example Scenario: When a customer mentions being pre-approved by their credit union, Andy showcases how to respectfully propose better rates without pressuring the customer.

• Notable Exchanges:

  • Speaker C: "Can we do a hypothetical objection?" [00:16]
  • Andy: "Hypothetically speaking, if I could beat your rate and I got a better rate, that wouldn't offend you or upset you in any way, would it?" [04:58]

Insights and Conclusions

Andy Elliott underscores the critical role of preparation and mindset in overcoming sales objections. By employing structured techniques like the Rabbit Hole method and the Five Minute Proposal, salespeople can effectively guide conversations towards successful closures. Confidence, continuous training, and the ability to adapt to customer responses are highlighted as essential traits for sustained success in sales.

Key Takeaways for Listeners

1. Adopt the Rabbit Hole Technique: Engage customers deeply to build commitment and reduce the likelihood of backing out.
2. Maintain Confidence: Transition from amateur practices by fostering confidence and fluid communication.
3. Leverage the Five Minute Proposal: Utilize concise, persuasive pitches to quickly address customer needs and steer the conversation towards closing.
4. Use Practical Tools: Implement worksheets and ACV cards to organize customer information efficiently.
5. Master Objection Handling: Practice role-playing scenarios to refine techniques for navigating and overcoming various customer objections.

Final Thoughts

Andy Elliott's live session provides actionable strategies and real-world examples that empower sales professionals to elevate their performance. By focusing on mindset, structured approaches, and continuous improvement, listeners are equipped to transform their sales techniques and achieve exceptional results.

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Stay Connected with Andy Elliott

Andy invites listeners who are ready to take their sales skills to the next level to coach with him one-on-one. Visit the description box of the YouTube video to find a link where you can enter your contact information. Andy promises personalized outreach within 24 hours to help you "kick some ass, go to the new level, and recreate the next version of yourself." Don’t miss this opportunity to partner with a sales training expert dedicated to your success.

Transcript

[A]

Once they go inside, I'm taking them down the rabbit hole. This is a point of no return. I was an amateur, right?

[B]

Amateurs always lose.

[A]

Amateurs can't be confident. Amateurs can't push through the cell. Amateurs don't let their words flow like water. Does that make sense? Yes.

[C]

Can we do a hypothetical objection?

[A]

Yeah, sure. Go. Now watch everybody looking at this whiteboard real quick. I want to explain this to you. I'm going to explain what we're doing. You guys see this rabbit hole? This is the beginning. This is where we ask for the business. This is where they say no, and they say they need to think about it. When they say need to think about it, you got to take them inside the dealership and you got to drive them as far as you can down this rabbit hole. Now, let me explain what this means. You see this? It's called a worksheet. You guys got worksheets, ACV cards. You got a ACV card, you fill out, okay? Do you put the information on the worksheet? Do you type it into the system? Where do you get the trade in information? You put it somewhere, right? Okay, Whatever that's called. This is this. Okay? The keys to their trade. Can you get that? Okay, what about a credit app? Can you guys get it? Okay, okay. No, you can get it every time. We should get it every time. Okay? If your client's got good credit, if you pull their credit, what's the chance of them staying and buying a car? It's like 90%. So everybody follow me. Here's how it goes. You ready? You're my customer. I say, let's go inside. You're like, no, I need to think about it. I overcome it. Everybody's getting confused on the five minute proposal. Like, come inside.

[B]

Give me.

[A]

Give you a quick five minute. They're like, five minutes. My manager will be pissed if I brought someone in and told them we'd have something in five minutes. Hey, earn the right to bring them inside. Now they're inside. Once they go inside, I'm taking them down the rabbit hole. This is a point of no return. This is where my managers are. Inside. They're ready to help me. I'm in a seated position. I walk through the double set of doors. Now they're in the dealership. Do you feel me? We broke into that new atmosphere. Now what do I do? I say, hey, what's your name again? Darren. Darren, what's going on? Hey, Hey. I just want to tell you. Let's go and have a seat real quick. Hypothetically, Ever say hypothetically. Hypothetically. Garen, when you are ready to purchase, how do you want your new vehicle titled? And then what's the paperwork? Where do you want the title mailed to? Okay, what am I doing? I'm doing my worksheet.

[B]

Right.

[A]

Hey, also, Garen, I need to get some information off your vehicle. Who's to pay off with? Oh, yeah, Toyota Motor Credit. Okay, cool. And what's the payment roughly? Cool. Okay, I'm going to go ahead and get that real quick. I'm going to get some information off your vehicle. I'm going to have my manager check it out. Let me go and get those keys. Okay, got those keys. ACV card worksheet. Hey, also, I know you got a payment on the current vehicle that you're going to be trading in today. Is that correct? Yes. Okay. And I know that the payment's going to be important. So getting the payment to the penny on the new vehicle that you're going to be looking at, that's going to be important, as. Would you agree? Of course. Cool. So I'm going to go to get two seconds of information. That way when I come back, I'll have all the numbers along with the monthly payment. Is that fair? That's fair. Okay, now what am I getting? Credit app, credit app, worksheet. Keys to the trade. ACV card.

[B]

This fool's buying a car.

[A]

Am I right? Dude, I have everything. The only thing I don't have is a pencil. The only thing I don't have is a pencil. How easy is it now for us to go in? And I got a manager ready, I've got his trade moved, we've driven his car. We've got an opportunity for the first time to see the way that he lives in the current vehicle he has. What's wrong with it? What's not wrong with it? Does he owe too much money? Does he not know enough how his credit was, what his past 10 years has looked like on his credit? Somebody's going to find something somewhere, right? And we pulled his credit, which means what? He's made a commitment. Because when people got good credit and they let you ding their credit, they don't want to go ding it again. They'd rather stay here and work it out. Everything is playing in our favor. That's why it's called the rabbit hole. You take them down it and see, most salespeople underestimate the five minute proposal. Hey, let me give you a quick five minute proposal. And in the end, it's your decision. Is that fair? He's not going anywhere. What I'm doing is buying the right to get inside to get to this worksheet, to say, hypothetically, when you are ready to buy, how do you want your new car titled? Yes, super important.

[B]

Guys, if you're watching this video right now and you're like, andy, I'm not built like that.

[A]

Bullshit.

[B]

Yes, you are. You got to train. That's the way it works. Train or complaints, Your choice. Okay. Every day I train the greatest in the world. You know what I mean? Are you ready to kick some ass and build your legacy and make history? If you are, in the description box below on this YouTube video, there's going to be a link. You click on it, enter your phone number, email, full name, and I will personally reach out to you in the next 24 hours. If you're serious about kicking some ass, going to the new level, recreating next version of yourself, I'm your guy. Let's kill it.

[C]

Can we do a hypothetical objection then?

[A]

Yeah, sure. Go.

[C]

So what we're running into with a lot of rising rates is people saying, I'm just gonna go to my own credit union. This is what I'm pre approved for. How would you handle that? Because we still want the commitment of the Credit Act.

[A]

Yeah, totally understand. Hypothetically speaking, if I could beat your rate and I got a better rate, that wouldn't offend you or upset you in any way, would it? Okay. So what I'd like to do is this. I know that if I don't look at it, I couldn't tell you what I could do. Obviously you're not going to make any decision to go with your bank or this one. You already know what you have at your bank. If I could better it, it saves you more money. And you said you wouldn't be mad at that. Let me go ahead and get the information on that, and when I return, I promise you I'll blow your mind. And in the end, it's your decision. Is that fair? Overcome it. Listen to me. Look at my hands. I keep putting my hands up like, hey, no big deal. Hey, no big deal. In the end, it's your decision. Whatever you want to do. It's all up to you. I'm here to serve you. Hey, we're really good at what we do. I know that you don't want to put all your eggs in one basket. If there is a better way to go. If you could save more money, I know that you just want to go. Who's going to save you the Most money. Let's make sure that we get that taken care of. Hey, we're really good at what we do. I've got 60 banks. You've got one. 99% of the clients that came in here actually end up getting a better rate with us and choose to go with us. We're not going to make that decision right now. I'm going to give you the information and then you make that decision. Is that fair? Notice I keep bringing it back around to you, but I keep giving you reasons and excuses why you should pass. Go.

[C]

No, no, no, no, no. I'm only going. I'm a teacher. I'm only going to schools first.

[A]

Yeah. So? Well, so what we need to do at this point is just get all the numbers, and if that's the one you've decided to go with, then that's completely up to you. Okay. One of the reasons why I don't like doing that personally, this is just my personal deal, is I don't like to put all my eggs in one basket. Okay. Because one day, even though you're with teachers, what if something happened? They end up charging you extra high rates or something crazy happened and you wanted to go to another lending institution. I don't know. Do they report to TransUnion, Equifax, and Experian? All three or just one? See, I don't know the answer to that. See, I use nationwide lenders. We're a large dealership, so we use nationwide banks all around the world that report to all three credit bureaus. What I've heard from some people, they complain about teachers, credit union because they say they don't report to all three. Now, I don't know that, but I know that's why at least I would want to look at our option and see how this would be better. And then it would still be your choice. Would that be okay? Can I at least give you the option? I know something that if I qualify for something, I at least want to know it. I at least want to see it. Do you agree? Are you kind of like me? Cool. And I'm not asking you to make a decision, but at least I want to show you what you do qualify for and what that looks like. What did I do? Notice I went. I said, most people don't want to put all their eggs in one basket, right? I've known clients, not saying that that's you, but I've known clients that have used X, Y and Z Credit Union for all of their loans and all of their purchases. And then Something happened Wednesday and they realized that that credit union didn't report to all three of the major credit unions. Plus, it's teachers credit union in all of the other states. Are they only in California? Probably only in California, right? What am I doing? I said, david, you know, hey, what's your credit score? Cause I don't know what hers is. I say, what's your credit score? She says, a 730 could be because you don't diversify your credit with any other lenders. The fact that you continue to use the same credit union over and over again. We don't know if they're reporting to all other bureaus, but plus they're probably only in the state of California and they're not in nationwide lenders. And using all 50 states, this might not be a bad opportunity to look. Look with your eyes at a different opportunity that could increase your credit score, give you even a better rate and have a lot of different benefits. And then in the end, if you decide you want to refinance it later and go back to your credit union, which doesn't cost you nothing, it could actually increase your credit score, give you a better rate today, and then you can do whatever you want in the future. Couldn't we just look at it? Guys, do you see what I'm saying? Do you feel me? Yeah. Can you guys talk like me? No, no, no. Damn right you can. Listen, I'm going to explain this. Are you ready? 18 years old. I stuttered, okay? I stuttered. I started at the car dealership and this guy goes, ah, he stutters. And I did stutter. You know why I stuttered? Because I would always try to say stuff and I. And I didn't know what I wanted to say. So I would get stuck on, like, what? And I was an amateur, right?

[B]

Amateurs always lose.

[A]

Amateurs can't be confident. Amateurs can't push through the cell. Amateurs don't let their words flow like water. Does that make sense? Hey, guys. Looks like you made it to the end of the video.

[B]

You're the true.0001 percenters. Look, I know 1 percenters that can make it halfway through the video, but making it all the way through. You guys are the best. Now here's what I'd like to do. Number one, I want to get closer to you. The fact that you made it all the way through the video, you're like, man, dude, I want to roll with this guy, okay? So I need to connect with you down below.

[A]

There's a description box on this YouTube video. There's a link.

[B]

It says coach with me, one on one.

[A]

Okay.

[B]

If you'll go and you'll enter your information, I'll reach out to you in.

[A]

The next 24 hours. You can tell me what you need, help with, what your goals are, and.

[B]

We will crush it together. I would love to help you guys go to the next level in life.

[A]

You can tell I'm changing my life.

[B]

Really fast, and I know that you guys want the same thing. I'd love to go with you on that journey. So right now, if you'd like to partner with me, team with me, if.

[A]

You want me to help coach you.

[B]

And push you, everybody needs a coach, a higher level of accountability to go to the next level. Go to the description box below, click on the link, fill out your information. I'll talk to you in the next 24 hours.

[A]

Let's kill it.