Selling is a critical component of any business, and it goes beyond just having a great product or service. To succeed in sales, one needs to thoroughly understand the process, the market, and, most importantly, their potential customers. However, even with all the necessary skills and knowledge, sales reps often have objections from potential customers, which can derail the entire sales process.
In this guide, we’ll explore some of the most effective tips and strategies for handling sales objections. Whether you’re a seasoned sales professional or just starting, these tips will help you improve your sales skills and ultimately succeed in your sales career.
What Are Sales Objections?
Sales objections are the challenges that potential customers raise during the sales pitch, with the aim of delaying or preventing the purchase. These objections can be about price, quality, timing, or even competition. Some sales reps may fear objections and withdraw from the sales pitch, while others may approach objections as a challenge to overcome. But, handling sales objections is an essential skill that can help you close more deals and increase your revenue.
The average sale requires five follow-up calls, which could be met with multiple rejections you must face along the way. Crafting your way to success involves taking on the most challenging aspects of sales and perfecting your skills. Handling sales objections is part of that process. From acknowledging the objection to presenting relevant solutions, there are various techniques that you can use to address objections, build rapport, and close deals.
8 Tips To Handle Objections
Before we get into specific situations, it’s important to understand the basics of handling objections. Objections may arise at any point during the sales pitch, and they can be a challenge to overcome. However, with a few key strategies that you can train your sales team with, your team will be able to navigate objections with ease and close the sale. Here are some general tips on handling objections as a salesperson:
Listen carefully to the objections
One of the most important aspects of handling objections is to listen intently to what your potential customer is saying. Give them your full attention and show that you understand their concerns. This will help you to address their concerns more effectively. If you’re unsure of something, don’t hesitate to ask for clarification.
Acknowledge the objections
Don’t shy away from objections, and don’t dismiss them. Instead, acknowledge them and show that you take them seriously. Thank the potential customer for bringing them up, and demonstrate that you are there to help them. For example, you could say something like, “I understand and appreciate your concern. Let me see what I can do to help you.”
Stay calm and professional
No matter how frustrating an objection might be, it’s important to stay calm, professional, and respectful. Getting defensive or confrontational can quickly turn the conversation sour and damage your chances of making the sale. For example, if the customer says they don’t need your product, you could say something like, “I understand that this isn’t a priority right now. Could I show you why it would be beneficial for your business in the long run?”
Provide relevant solutions
After understanding the objections, provide relevant solutions or different approaches that could achieve the same outcome. Offer multiple alternatives or options that could help address each specific objection so that the prospect feels like they have some choice in the matter.
Highlight the benefits of your solution
During the sales pitch, it is important to highlight the benefits of your solution, so the prospect can see how it is the perfect solution for their needs. Make sure to focus on the features and benefits that can solve their problems or help them achieve their goals.
Use social proof
Share case studies, success stories, or testimonials that illustrate how the solution has helped other businesses in similar situations. This will not only reassure the prospect but also demonstrate the value of the solution to them. For example, social proof could look like, “We recently helped a company in a similar situation that was able to increase their revenue by 20%. I’d be happy to give you more information about it.”
Ask open-ended questions
Ask open-ended questions to help you discover more about the prospect’s specific needs and to explore any unspoken objections. Once you get the issue on the table, you can then work together to find a solution that meets their needs. Examples of open-ended questions include: “What concerns do you have about this solution?” and “How would you like to see this issue resolved?”
Be persistent but respectful
Even after addressing the objections, the customer may still seem hesitant to seal the deal. Rather than giving up immediately, try to remain persistent but respectful. Remember to be supportive and let them know they can rely on the support of the sales team. If all else fails, suggest a follow-up meeting to discuss their objections in more detail.
6 Common Sales Objections Examples
Now that we’ve gone over some general tips on handling objections let’s look at some of the most common sales objections and sample responses that you can use when facing these situations.
It’s too expensive
When a potential customer says, “It’s too expensive,” it can be a challenging objection to overcome. However, there are several strategies that you can use to handle this objection and secure the sale. It’s important to reframe the conversation by discussing the value that your product or service provides.
It may be helpful to compare the cost of your offering to the benefits that it provides, which could include increased productivity, revenue, or customer loyalty. This approach can help the customer to see the difference between price and value and help them to understand why your product or service is worth the investment.
Another strategy is to offer flexible payment options, such as a payment plan or financing. This can make your product or service more affordable and help to alleviate the customer’s concerns about cost. You can also offer incentives such as discounts, free trials, or additional services to sweeten the deal and make your offering more attractive.
It’s not in our budget
When a potential customer tells you your product or service is not within their budget, it can be a tough objection to handle. However, it’s important to remember that it’s not always a definitive “no.” One approach to handling this objection is to focus on the value that your product or service can bring.
Emphasize how it can help the customer save time or money in the long run, and explain the benefits they will receive from using it. You can also offer a payment plan or financing options to make it easier for them to afford.
We’re happy with our current provider
One of the most common sales objections that sales representatives face is when prospects say, “We’re happy with our current provider.” This can be a difficult objection to handle because the prospect is satisfied with their current provider, which means they might be less willing to switch to a new provider.
One way to handle this objection is to ask the prospect to elaborate on why they are happy with their current provider. This will give you valuable information about their needs and expectations, which you can then use to position your own product or service in a more compelling way. You can also ask if there are any areas where they feel their current provider could improve. By doing so, you can demonstrate your willingness to understand their needs and offer solutions that are tailored to their specific pain points. Additionally, you can share testimonials or case studies of other customers who were in the same situation but chose to switch to your product or service and experienced better results.
We don’t have the time
When a potential customer says, “We don’t have the time,” it can be a challenging sales objection to handle. One way to address this concern is to emphasize the time-saving benefits of your product or service. Show them how it can streamline their processes and save them valuable time in the long run. Another approach is to highlight the potential consequences of not addressing the issue, such as missed opportunities or costly mistakes.
Finally, you can ask some open-ended questions to understand their concerns and tailor your response accordingly. By addressing their concerns and demonstrating the value of your offering, you can overcome the “We don’t have the time” objection and potentially close the sale.
We can’t justify the ROI
When a potential customer objects to a sale due to a lack of justification for ROI, it’s important to have a clear understanding of their concerns. Begin by asking them questions to uncover their specific concerns and goals. This allows you to tailor your response to their unique situation.
Next, provide them with evidence of the ROI they can expect from your product or service. This can include case studies, customer testimonials, or even a personalized ROI analysis. Lastly, emphasize the long-term benefits and ROI potential rather than just the initial cost. By doing so, you can help them understand that the investment in your product or service will ultimately pay off in increased efficiency, cost savings, and improved outcomes.
We’re not the decision maker.
When faced with the objection that “We’re not the decision maker,” one approach is to ask open-ended questions to identify who the decision maker is. Some questions you can ask may include, “Who else is involved in the decision-making process?” or “Can you provide me with the contact information of the person who is responsible for making the final decision?”
Additionally, it may be helpful to provide information or resources that the person can share with the decision-maker, such as case studies, testimonials, or ROI calculations. By showing the value of your product or service and providing the resources to support it, you can help the person you are speaking with become an advocate for you with the decision maker.
Wrapping It Up
When it comes to sales objections, the key is to have your sales team motivated and prepared with a plan of action. Knowing how to handle different types of objections can make all the difference in whether or not you close the sale. By understanding your customer’s needs, emphasizing the value of your product or service, and offering solutions tailored to their specific pain points, you can ultimately overcome any objections your customer may have and close the sale.
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