Social Engineering - Fighting the Expensive Objection

CarderPlanet

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Salute to those who like to break someone else's account, as you know, the main objection of people with whom you work is: "it's expensive." How to react when you hear a reproach about the cost of the service? Here are the answers that actually work:

1. Too expensive compared to what?
"Expensive" is a relative term. If you can figure out what the customer is comparing your product or service to, you will be able to more accurately communicate the benefits.

2. Really? How did you come to this conclusion?
This breaks the client's pattern of reasoning. Once the seller has a better understanding of the specific issues that led to the price shock, they can handle each one individually.

3. Perhaps we have not crossed out unnecessary items? Let's check
Go back and make sure the sales process meets the expectations of both parties.

4. I heard you. The best products are often expensive
According to sales expert Jeffrey James, "a price objection is not a true objection until the customer has said it twice." Use this answer the first time you hear “it's too expensive” and it can help you separate out-of-budget customers from those who feel like you’re ready to bend.

5. How much does it cost you to do nothing yourself?
Make them think about a great future. Discover hidden benefits.

6. Is it a cash issue or a budget issue?
This question hits the mark whether customers are asking for a discount (budget issue) or wanting installments (cash shortage issue). Once the seller categorizes the objection, he can negotiate effectively.

7. If money didn't play a role, would our product or service help solve your problem? " A quick step back to value .

8. What exactly is expensive?
If you ask this question mildly, the client will reveal his true perception of your product (service). Answers like, "Well, that's a lot for just X, Y, and Z," shows a low perception of value.

9. Too expensive? It is relative
Relatively because this product or service is very valuable in terms of price. Move the buyer's attention back to value.

10. Is the price the only thing that keeps you from signing the contract?
If the customer has any other objections that the seller needs to resolve, this issue will bring them to the surface.

11. Good. So which part don't you want?
By this you are telling the buyer: price is inextricably linked with value. If the buyer is unwilling to pay the full price, he will not be able to enjoy the full value of the value. This question may prompt them to reconsider the question.

12. Will the price keep you from getting what you really want?
You don't call the client cheap, but this question is waking up in their minds. Nobody likes to be cheap, especially when their business is high on the crest. Alternatively, this question will help you identify when your product or service is not a perfect solution to a customer's problem.

13. Does this mean that we will never work together?
Most people hate him. As a result, the overwhelming majority of customers will respond: "Well, of course not!"

The seller can then probe the conditions necessary to close the deal and adapt them, or leave proudly.

14. Price aside, do we have a product or service you want to buy?
If they say yes, you can go back to step 12. If they say no, determine if it makes sense to go back to the conversation about value or if it's better to abandon the deal.

15. What ROI do you want to get?
This moves them away from thinking in terms of "expensive" or "cheap" to long-term value for their business.

16. It may sound expensive in one day, but let's break the payments down by month / quarter.
The lump sum can be daunting. Have data on hand on how the cost is distributed over the course of the year, months, or days.

17. Does what you say mean that our prices are higher than our competitors?
If the price is indeed higher than the competition, this question opens up a loophole for the seller to talk about value.

18. Have you ever bought a similar product or service before?
It is possible that the buyer does not have an exact idea of how much a similar product costs. If only because I have never bought something like this before. With this question, you can clear up his misconception.

19. Do you think it costs too much?
By directing the feed back to the client, you are encouraging them to explain their position and, in the process, perhaps reconsider it.

20. When was the last time you bought something based on price alone?
Nobody likes to feel cheap.

21. I understand. I had two other clients who, like you, were initially concerned about the price. But they found that ...
Show empathy for the client, and then redirect their attention to social proof.
 

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The most popular social engineering techniques in 2021​

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Over the past few years, cyber fraudsters specializing in social engineering have begun to use more advanced methods to gain access to the information they need, taking into account the modern psychology of both corporate employees and humanity in general.

Over the past few years, cyber fraudsters specializing in social engineering have begun to use more advanced methods to gain access to the information they need, taking into account the modern psychology of both corporate employees and humanity in general. To learn how to counter all sorts of tricks, it is necessary to understand the general tactics used by attackers. In this article, we'll take a look at the most common approaches in social engineering.

Introduction The term "social engineering" first appeared in everyday life in the 90s with the submission of the very famous cybersecurity specialist and former hacker Kevin Mitnick. However, attackers used similar methods long before the official concept took shape. Experts believe that modern cyber fraudsters pursue two main goals: stealing passwords and installing malware. Attackers use social engineering through telephone, email and web pages. Below are the main methods of obtaining confidential information.

Tactic # 1. The six handshake theory​

A key goal of an attacker using social engineering over the phone is to convince the victim that either a work colleague or a government official (such as a law enforcement officer or auditor) is calling. When a fraudster wants to collect information on a specific person, he may first try to get the necessary information from the victim's work colleagues. According to one old theory, there are only six handshakes between the attacker and the victim. Experts recommend that you be extra vigilant when it's not clear what a co-worker wants from you.

Usually, an attacker contacts a secretary (or an employee in a similar position) in order to collect information on people with a higher position in the corporate hierarchy. Experts believe that a friendly tone helps scammers in many ways. Slowly but persistently, criminals are picking the right keys for you, and it is often just a matter of time before it gets the right information that you would never share.

Tactic # 2. Use of corporate vocabulary​

Each industry has its own specific terms. To be more persuasive and sophisticated when using social engineering, attackers will study the peculiarities of the corporate language and culture. If the fraudster speaks with the victim in the same language, then he will begin to inspire confidence much faster, which means that he will get the necessary information faster.

Tactic # 3. Using familiar tunes​

To successfully execute an attack, an attacker must have time, persistence, and patience. Typically, socially engineered cyberattacks are slow and data on future victims is collected regularly. The main goal is to gain trust and subsequent deception. For example, an attacker might convince that he is talking to someone on behalf of a work colleague. One of the key techniques in this situation is the melody that is used in the company while waiting for a call. The attacker first listens and records the melody, and then, during a conversation with the victim, he can unexpectedly interrupt the conversation and say something like "Wait, I have an incoming call on the second line." The victim hears familiar music and becomes even more convinced that there is a company employee on the other end of the line. In fact,

Tactic # 4. Fake CallerID​

Criminals often resort to fake phone numbers by spoofing Caller ID. For example, a fraudster can call from his home, and the corporate number of the company will be displayed on the victim's phone display. Naturally, in most cases, an unsuspecting employee will pass on confidential information, including passwords. This trick also helps to cover your tracks, since the callback to the displayed number will be made within the corporate network.

Tactic # 5. Using the news background​

Regardless of the current news, attackers will always find a way to exploit the current situation, such as the presidential campaign or the economic crisis, for spam, phishing, and other deception schemes. Such messages often contain links to infected sites with malware disguised as useful programs.
Phishing attacks on banks are very similar to each other. It all starts with an e-mail similar to the following: “Another Bank [name] acquires your Bank [name]. Please follow the link and check that your data is up to date. "Do I need to say that we are dealing with an attempt to obtain information that an attacker can either sell to the side or use to steal money from your account.

Tactic # 6. Hacking a social media account​

It's no secret that Facebook and LinkedIn are hugely popular social networks. Many studies show that users tend to trust these platforms. Incidents of targeted phishing against LinkedIn users support this hypothesis. Often, the attackers' strategy is based on the fact that fake technical work notices are sent out on the social network, and users are invited to update the information. Therefore, in various memos, it is recommended that company employees enter addresses manually, rather than clicking on phishing links in emails. In addition, it should be noted that sites rarely send requests to users to update their personal information.

Tactic # 7. Typesquatting​

This technique is based on the fact that people make mistakes when typing addresses in the browser. Accordingly, during an erroneous input, the victim may be redirected to the site created by the attacker. In the beginning, cyber fraudsters thoroughly prepare the ground for the implementation of this scheme. They figure out variants of typos and create a website that looks like two peas in a pod similar to a legitimate one. Thus, a typographical error in one symbol could lead you to a copy, the purpose of which is to collect personal data or spread malware.

Tactic # 8. FUD​

Fear, uncertainty and doubt (fear, uncertainty, doubt; FUD) are often the main psychological manipulations used in marketing. The essence of many techniques boils down to the fact that the user becomes insecure or doubts about something (for example, a product or a company) and, as a result, begins to feel fear and take rash actions. Recent research suggests that product security and vulnerability can affect the stock market. For example, researchers tracked the impact of the Patch Tuesday event on Microsoft stock. The results show that there were significant fluctuations in the stock chart after the release of the vulnerability reports. You can also recall the story when attackers in 2008 spread fake news about the state of Steve Jobs, after which Apple's shares fell sharply. This is the most striking example of the use of the FUD technique for malicious purposes. In addition, you should beware of spam messages that aimed at artificially raising prices, for example, in the stock market or in the cryptocurrency market. In such cases, attackers can send emails telling them about the overwhelming potential of specific stocks / coins that were purchased in advance. Further, many will want to buy these shares as soon as possible, and prices will skyrocket. After the scammers sell their shares, the price will fall again.

Conclusion
Cyber fraudsters usually resort to very sophisticated social engineering techniques. After familiarizing yourself with the methods above, we can conclude that attackers achieve their goal using various psychological tricks. Thus, it is important to pay attention to every little detail that can reveal scammers. Check and double-check information about people who are trying to contact you, especially when it comes to the disclosure of confidential information.
 
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