How to Overcome the 5 Most Common Sales Objections
You know that a particular prospect would be a perfect fit for your product or service, and you call them up. Perhaps they’re an inbound lead who has come in through your website and downloaded an offer, or perhaps you don’t have an existing connection with them at all.
You get the prospect on a call and you get stone-cold responses with objection after objection.
What Is a Sales Objection?
Sales objections are issues that a prospect communicates to a salesperson as a reason or reasons why they can’t buy a product or service from them.
It’s your salesperson’s job to understand what is going on in the prospects’ mind when they object so that the objection can be handled.
The process of handling objections can be developed over time as you’ll start to hear the same objections over and over again.
The good news is regardless of what you’re selling, the objections you will typically deal with fall within one of four categories.
1. Price objections: Lack of Budget
“It’s too expensive.” Objections based on price are the most frequent ones. That’s because a purchase comes with some level of financial risk.
As a salesperson, consider the transformation that your product or service delivers to the potential prospect and how can you best demonstrate that value.
This will turn the conversation into one about risk vs. reward.
By painting a picture of where your solution will take them from and the result they will experience, they can be convinced that it’s enough to reward to justify the risk.
2. “We currently work with [put your competitor’s name here].”
This is where you need to differentiate the value of your product or service delivers over the competitors and be able to explain that value clearly.
When speaking to your prospect they will here
“Hi, we do X”
and the instant response is
“Oh, we already have someone else who does that for us, we’re all good.”
Your prospects are busy and they don’t want to fix things that are not broken. It is your opportunity to change their mindset, and explain why they need the specific value you provide.
You could respond with
“A lot of our customers used to or still use Competitor X. We’d like the opportunity to show you how we are different and how we deliver additional value to our customers. We can walk through some use cases of other companies like yours who work with us and with Competitor X. When is a good time for you to talk further?”
3. No Need
“I’m not clear on how this will help me.”
This may seem like an objection on the surface, but it’s actually an opportunity to provide information to the prospect (and get information from them).
Use open-ended questions to qualify the prospect and evaluate their need.
If you find a fit, you can leverage it and demonstrate value.
4. Lack of Urgency
“[X problem] isn’t important right now for me.”
The goal here is to determine if timing actually is an issue or if the prospect is simply not interested.
Ask them to explain to you why it’s not important.
Listen to determine if their response involves a timing issue or simply a vague excuse.
If they’re doing backflips to justify doing nothing on a pain point, you may have an opening.
5. “Does your product do X, Y, and Z?”
This isn’t an objection it’s one of the most common obstacles. The good news is this generally means the prospect is interested. Use this fact to end the conversation and set up the next appointment.
Response: “I am glad you asked. Let’s set up a time where we can answer this question and others with a specialist. When is a good day/time for us to talk?”
When an Objection Means No
Prospects often don’t give you a chance to explain the value you believe you can provide. They are too busy and have too little faith in sales peeps that reach out to them on a daily basis.
Unfortunately, they have learned through experience that these knee-jerk objections are the best defense against people wasting their time. This forces salespeople to be more assertive and persistent.
That said, no means no.
The responses to the common objections above give you a way to pierce through the reactionary objections prospects give without thinking. However, if you have said your piece and the prospect still objects, then let it go.
Get as clear as you can on the objection and try to determine what your prospect is really concerned about, but don’t push past the prospect’s point of comfort.
Remember this if the prospect says an objection twice, it’s real. No means no.
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