Ever been in a conversation with a prospect and found yourself unable to handle their objections?
Objections are unavoidable, and many sales reps face obstacles when it comes time for the customer or prospect to make a purchase-decision. There is no way around it, objections are the name of the game, but that doesn’t mean that your sales reps can’t be ready for them!
Objections come in all shapes and sizes. Sometimes they are direct, other times they are indirect. Sometimes they are entirely absurd and irrational or make sense and are very logical. However, to the experienced sales rep, one who has gone through effective sales training, dealing with an objection is an opportunity to turn a negative into a positive and a chance to present the benefits and value of the product to the customer.
Below is a list of 4 common objections and how top performers go about responding to them:
Objection 1: “We don’t have the budget”
Pricing is one of the most prevalent objections. Instead of lowering the price, look for ways to show the unique value of the product and give examples of how it will solve the prospect’s or customer’s problems.
Objection 2: “We’re happy with our current setup”
Complacency and fear of change are the main reasons why prospects dismiss a product even before learning about what it could do for their business. If you are dealing with a complacent customer, take the time to describe the problem or opportunity in-depth. Bring in case studies and industry stats to boost their confidence.
Objection 3: “We need to think about it”
If the prospect doesn’t see value in the product or doesn’t trust you, it becomes important to build credibility. To create a trustworthy relationship, think like your customer. Ask yourself “What’s holding me back?” By putting yourself in their shoes you can approach the objection from a place that will elicit a positive reaction.
Objection 4: “We need to consult with the VP”
This may sound like a dismissal, but look at this objection as an opportunity to get the decision-maker into the room. Rather than agreeing to wait for a phone call, set up a joint meeting to meet with the decision-makers face-to-face.
When it comes to customer objections, don’t assume that there are issues with your product or service itself, keep focus on the way your sales team is selling instead. The underlying reason for objections usually relates back to value. When customers don’t see a link between the problem or need they are facing with what the sales person is proposing, they don’t have a reason to buy.
One of the biggest mistakes sales reps make when facing objections is that they perceive that the prospect or customer is being negative. This is common among sales reps that haven’t been properly trained. Remember, an objection is simply an opportunity – a chance to demonstrate to the prospect why this particular solution is the best one.
How effective is your training process? Are your sales reps armed when it comes to dealing with customer objections?
