In a perfect world, prospects will be easy to qualify, move through the sales pipeline with ease and have absolutely no sales objections. Unfortunately, however, we don’t live in a perfect world. If prospects didn’t have objections – they would’ve bought your product already! That’s why objection handling is just half the fun in sales, so keep reading to learn common sales objections and how to overcome them.
- 5 Reasons Why You Aren’t Closing The Sale
- How To Get Prospects To Say YES
- Quick Tip: How To Overcome Objections From Satisfied Prospects
What is a sales objection? | Objection Handling
Before we delve into overcoming common sales objections, let’s completely define what one is. A sales objection is entirely typical to experience in sales. It is an expression by a prospective buyer that a barrier exists between the current situation and what they need to be satisfied to buy from you.
Types of common objections in sales
As a sales professional who is frustrated with receiving objections, you probably already know that there is an objection for everything. In particular, common sales objections often fall into these six categories; price, timing, value, competitor relationships and hesitation. Below, you will find examples of each type.
- “It’s too expensive.”
- “We don’t have the budget”
- “I can get a cheaper version somewhere else.”
How to overcome sales objections to price
First things first, find out, does your prospect have the money? Can they afford it? Do they have the budget? If the answer is yes! Then you can start looking at how to demonstrate value and make sure that they see that this is the right solution for them.
Do that, because then in my experience, customers who were really cheap and squeezed you for every penny also want the most and best service and they always complain and will be a hassle. But you’ll probably also know that those customers who pay more are ‘low maintenance and refer to other great ‘low maintenance’ customers. So focus on that—affordability versus value. Always focus on the value.
- “I don’t have the time/resources for this right now.”
- “We don’t have the capacity to implement the product.”
- “XYZ feature is a deal-breaker” / “We need XYZ features that aren’t included.”
- “I don’t understand the value and I’m too busy to think about it.”
- “Does your product do X, Y and Z?”
- “I don’t see the potential for ROI.” / “I don’t see what your product could do for me.”
- “Your product doesn’t work with our current set-up.”
- “Your product is just too complicated.” / “I don’t understand your product.”
- I’m happy with [competitor].”
- “We’re doing fine in this area.”
- “I’m okay with the status quo.”
- “Competitor X says [false statement about your products].”
- “I’ve been burned before.” / “I had a bad experience with a similar products/services.”
- “We only work with people we know.”
- “You don’t understand my challenges. I need help with Y, not X.”
5 tips to master objection handling
List the common objections people have given you in the past and then write a short rationale for each objection. Frame your response to each objection in a positive way and practice it. Thinks of examples of clients that had the same objection found a way to overcome it and consequently benefitted from using your products and services.
1. Hone the skills needed for objection handling
Empathy is an emotional intelligence skill. It’s defined as the ability to know what another person is thinking or feeling. Therefore, if you want to master objection handling, you need to possess the ability to walk in another person’s shoes. For example, “I’m sorry you feel that way, it sounds like this has been very frustrating!”, “I hear what you’re saying and I think I can definitely help you.” Ultimately, by showing empathy for your customer’s problems, they are more likely to open up and share more.
Too many sales professionals think they need to do all of the talking when meeting with prospects. What ends up happening is that they dominate the conversation, leaving little time for the prospect to share anything about themselves or what they’re looking for.
Instead, ask the prospect what they’re looking for, what they’ve tried before? What worked, what didn’t work? What is the outcome you’re trying to achieve? Then listen intently instead of waiting for your chance to jump in and sell. Only once you have all of the information you can make an informed recommendation on what product or service is the best for them.
As the saying goes, ‘People do business with people they know, like and trust’. So, of course, you need to build rapport – and quickly. One of the most effective ways to do this is to use your customer’s name and, probably more critically, know how to pronounce it! It helps you connect with them because they feel heard, and well, people love the sound of their names. However, make sure to use their name naturally in the conversation – otherwise, you’ll come off as indigenous.
2. Understand the sales objection
First, you need to thoroughly understand and uncover all objections and the issues related to them. You’ll frequently find that the real problem isn’t what the buyer tells you initially. Instead, it’s your responsibility to get to the root of the objection. So how do you do this? First, you need to ask the buyers permission to explore the issue further together.
Then, once you have thoroughly discussed the issue, you need to repeat it as you understand back to the customer. Again, it may seem counterintuitive, but by doing this, the buyer starts to see the overall issue – and can begin to identify any remaining related problems themselves.
3. Respond properly
Once you’re sure you’ve uncovered all objections with the buyer, you should seek to suggest a solution straight away. However, stay truthful and realistic, don’t start offering solutions you can’t actually promise. Furthermore, long responses feel like a sales pitch. This is a two-way conversation so keep your answers direct and to the point.
4. Confirm you’ve satisfied their objection
Last, you need to check that you’ve satisfied their objection with your solution. Trust me, just because the customer nodded along to your responses doesn’t mean they entirely agreed; instead, they’re polite. So, ask if they’re happy to continue with your solution and explain other components if necessary.
5. Know when to walk away
If after you go through everything, hard qualifying, value demonstration, if they still don’t “get it”, stop fighting. Stop pushing. And move on. Find another customer who gets it! Who loves what you’re doing and are willing to invest because they see the return on investment.
Accelerate your sales career and master objection handling
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