This article is an excerpt from the Shortform book guide to "Way of the Wolf" by Jordan Belfort. Shortform has the world's best summaries and analyses of books you should be reading.
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Have you had a sales objection that you didn’t know how to deflect? Do you want to learn how to use a conversation loop to deflect those objections instead of struggling to respond to them?
When you are trying to make a sale, a tough prospect will likely have objections. Do not respond to those objections. Instead, learn how to deflect them by practicing a conversation loop.
Read more to learn how to deflect sales objections.
How to Deflect Sales Objections by Using a Conversation Loop
When you are trying to make a sale, a tough prospect will likely have objections. Learn how to deflect those objections by practicing something called a conversation loop.
The sale doesn’t start in earnest until after your prospect gives you his first objection. At this point, when the prospect responds to your first pitch with something like “let me call you back,” or “let me consider it,” then you really start earning your keep. One of the most important skills you should have in order to keep them on the hook is how to deflect.
The Deflection Script
If you’re working on a standard two call system, the first thing you should do when calling back is very quickly reintroduce yourself, with your first and last name, and your company.
Remind the prospect that you previously spoke and that you emailed him some information. Ask if the conversation “rings a bell”—he’ll almost definitely say yes.
If he says yes, note that the last time you spoke, he told you that he’d like you to give him a call if you find something remarkable. If he says no to this, act surprised and assure him that this did indeed happen.
Then, explain that you do have something remarkable that has just come across your desk, and if he has just 60 seconds you’ll share it.
Complete with “got a minute?”
After this, transition to the bulk of your presentation and close by asking directly for a purchase. Ask for a large commitment so that you can scale down to something you’re still happy with.
At this point, it’s likely you will get an objection. As mentioned earlier, respond by asking whether they like the idea, money-aside. That is how to deflect his objection.
Do not reply to the objection, whatever it is. Learn how to deflect it instead:
- First, you let him know that you’re there for him and you understand that he does have an issue.
- Second, use the money-aside tone to engage him where you want to go, which is to not discuss the objection directly. Use this tone even if the objection is not about money in order to start talking about the idea rather than the objection itself, whatever it may be.
At this point, the prospect will respond. This response is crucial—you’ll be able to tell if he’s completely enthusiastic, at which point he’ll be at a 10 on the certainty scale and you can close, or completely unenthusiastic, at which point there’s no real hope of closing.
Often, it will be somewhere in the middle, and the prospect will say something like “yeah, I think it sounds pretty good.” If they’re not near the very top of the certainty scale, you need to start a process called a conversation loop, which helps to increase certainty. Loop back to the front half of the sale to make a follow-up presentation that just builds on the case you’ve already created. Build on logical certainty with emotional certainty to get both to as close to a 10 as possible.
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Like what you just read? Read the rest of the world's best book summary and analysis of Jordan Belfort's "Way of the Wolf" at Shortform .
Here's what you'll find in our full Way of the Wolf summary :
- How to sell like Jordan Belfort, the Wolf of Wall Street
- The 4 steps of the Straight Line selling method
- The 3 types of certainty you have to create to make a successful sale
