The Top 10 Most Common ESP Objections and How to Overcome Them
Selling extended service plans (ESP’s) is often a challenge for even the best sales people. Customers are conditioned to say no to add-ons and up-sells and especially to ESP’s. Objections are just the customer’s way of letting you know that they have some questions and concerns that haven’t been resolved yet, and that they need more information. I have collected the Top 10 most common ESP objections and provided some responses to help you overcome them.
#10 – “I have a friend that can fix it.”
“It’s great that you have a friend to fix it, but is your friend going to fix it on your time schedule or his? You also have to factor in that you still have to pay for parts or to replace the product if it cannot be fixed. With our extended service plan all it takes is one simple phone call to initiate service. The plan pays 100% covered parts and labor and if it cannot be fixed it will be replaced.”
#9 – “They never break.”
“Products today have more features and are more technologically advanced. Because of that if something were to fail, repairs are more expensive. Labor costs alone nowadays can cost you $50 to $100 an hour. Our extended service plans save you money by paying 100% covered parts…and labor.”
#8 – “I can get it cheaper elsewhere.”
“Not all extended service plans are the same. Many are just extensions of the limited manufacturers warranty. Our extended service plan goes beyond what most manufacturer’s warranty covers. It offers power surge protection, on-site service and a free 24-hour product support line. Plus all our plans are transferrable, so it actually increases the value of your (product) in case someday you decide to sell it or give it away.”
#7 – “If this (product) is so good, why do I need this plan?”
“We sell only quality products, but there is a reason why manufacturer’s warranties are limited and typically last for only one year or less. This is why we feel it is so important to give our customers the opportunity to protect their purchases after the manufacturer’s warranty expires. Your long-term satisfaction is our number one concern.”
#6 – “My credit card doubles the warranty.”
“Generally credit card warranties simply extend the manufacturers original limited warranty for a maximum of one year or less, with no added benefits. This program offers a number of benefits that the manufacturer doesn’t cover like power surge protection, on-site service and a free 24-hour product support line. Often credit card companies make you find a service center and get repair estimates, which you may have to pay for, and then once the estimate is approved you pay for claims up front and then they make you wait for reimbursement. With our program you do not have to search for a service center or obtain estimates. We also offer direct billing to service centers so there are no out of pocket expenses.
#5 – “I’ll never use it.”
“When it comes to extended service plans, it is better to have one and not need it than to need one and not have it. At least with our extended service plan you will gain the peace of mind of knowing that you are protected from any surprise repair or replacement bills and your that your (product) will keep on working.”
#4 – “I need to ask my spouse.”
“Does it sound like a good idea to you so far? You are the best one to make the decision since you asked all the questions and heard all of the information, if you would like to review it with your spouse I recommend purchasing now and you can review the terms and fine print together when it’s convenient for both of you. If you change your mind you always have 30 days to bring it back.”
#3 – “I’ll take my chances.”
“I have said the same thing myself. But in my case, it seems that whenever I take a chance, for example putting off a car or a house repair, that’s when I run into a problem that ends up costing more. Now, when I gamble I feel better when the odds are in my favor – there are less risks that way and I feel better about my investments.”
#2 – “I need to think about it, can I purchase it later?”
“Too be honest, what usually happens when people wait to purchase it later is that they simply forget…that is until they have an unexpected service issue. Then I feel bad because I have to be the one to inform them that the time period to purchase it has expired. We have a 30-day return policy here, why don’t you purchase it today and then take the next 30 days to think about it. If for any reason you do not think it was a wise decision, and I promise you it is, you can come back and get a full refund.”
#1 – “It costs too much.”
“A single repair can end up being more than the cost of the extended service plan and usually creeps up at the most inopportune time. This way, for what works out to be a few pennies a day* you know you are protected from any surprise repair or replacement bills and that your (product) will keep on working.”
*Create a chart to keep close by where you break down extended service plan costs down by year, month and day – people don’t usually object to “a few pennies a day” costing too much.
