Every lead or prospect you speak to will have sales objections that they’re hesitant to buy when it comes to your product. Objection handling is a challenging and significant process in the sales cycle to move the prospect further down in the sales pipeline. You need to learn to discover different ways of handling sales objections because each customer has a unique way of objecting. You should be ready to solve these concerns and to help you with that, this blog will elaborate on how to overcome sales objections and tips for effectively handling sales objections. Let’s get started right away!
Types of Sales Objections
- “I don’t have the budget right now.”
- “It is too expensive.”
- “I can find a cheaper alternative.”
If you are in sales, you may be tired of hearing the above responses, right? Regardless of the target audience, pricing is the most common sales objection. Lack of cash could be true, but it could really be a lack of money or a brush-off, or the lead or prospect might think that your product or service is not good enough to justify the cost.
How to Overcome the Objection:
When the lead hesitates about the price, most sales executives immediately offer a lower price. This will question your product value if you lower the price. Instead, try to analyze the real reasons behind the objection. Most of their reasons will usually be issued more vaguely than anything concrete. You need to offer facts and creative value of your product or service and demonstrate how the product can solve the customer’s problem.
Added to that, to create reassurance to the prospect, you can explain the cost of the product, the return on investment, and other related benefits. Make your product feel crucial; then the price will matter less.
You’ve likely heard this or something like:
- “Now is not a good time.”
- “Contact me later when we have the budget.”
In this scenario, you must make it so compelling for them to buy — right now — that they feel as if they’ll genuinely regret passing up the opportunity.
How to Overcome the Objection :
Simplify your sales process and offer them attractive terms that your product or service is available only for a specific period. They will miss out on a great opportunity. Before jumping into the conversation, clarify whether it is the right time to call. If it’s a bad time, find a better time to call.
Trust is a critical value in a business relationship. People do business with companies they know and trust. If your company doesn’t have a brand image, prospects will be doubtful about having a business conversation with you.
If this is the case, you’ll need to back up your sales pitch with social proof. Mention how you’ve helped a similar company and provide a case study to support your claims.
If the lack of authority is the sales objection, it’s your job to turn that prospect into a champion of your product or service. Go over the benefits of what you’re selling and emphasize the value it can add in the making their job easier if you play your cards right there.
How to Overcome the Objection :
Always respect their position, but consider this objection an opportunity to get other decision-makers in the room. Identify any underlying concern and address that specific issue. Then, agree to wait for a phone call, keep the process moving by setting up a joint meeting with both parties, or transition the sale to the final decision-maker altogether.
Another common sales objection by the prospect is that they don’t need your offer at that particular time. Try to understand why they are delaying the offer. The goal here is to identify the right time. This will allow you to give the prospect more information about the product.
How to Overcome this Objection:
Ask open-ended questions to evaluate the needs of the prospects and whether they will utilize the product or not. Evaluate what other competing priorities are there. Schedule an appointment for later to understand more about the issue.
Tips to Overcome Sales Objections
1. Active Listening
When you connect with a prospect, do not respond immediately; take time, listen entirely to their objections, and give them time to speak. Once you have listened to their objections, you can anticipate them before they occur. Try to resist this temptation of jumping to respond or cutting them off defensively. Stay actively focused and listen fully to what the buyer is saying their concerns, and the business problem you’re helping to solve.
Make sure you make the prospects feel that you’re genuinely hearing out their concerns and it is in their best interest to let you help them. This increases the chances of closing the deal once you’ve handed in the sales objection.
2. Understand the Concerns
Understand people’s concerns and try to avoid misinterpretation. You’ll need to ask more questions to evaluate all the objections before you are ready to respond effectively. Many objections hide underlying issues the buyer can’t or isn’t prepared to articulate. Often, the real problem isn’t what the buyer first tells you. It’s your job to understand the objection’s heart—fully understand it and its trustworthy source. To do this, ask permission from the prospect to understand the issue. From there, restate the concern as you know it. Sometimes when you repeat the objection, the buyer sees the problem more fully, and you get closer to the trustworthy source of the objection.
Even after the prospect confirms you understand perfectly, ask further questions for their questions for clarification until the funnel moves forward.
3. Respond Properly
Always acknowledge that your prospect’s concerns are valid. Please don’t give them even a slight feeling that you are taking their concerns very lightly, which is unlikely for closing a deal. Also, don’t oversell so a prospect feels that you are ad-libbing. This is a very unlikely tactic to create trust. Always keep your responses clear and short. So, after you’ve uncovered all objections, address the most important objection first. Once you work through the most significant barrier to moving forward, other concerns may no longer matter as much to the buyer.
Try to resolve their issue more effectively. You can resolve issues in real-time, and the greater your chance of moving the sale forward. If you need more information to determine a specific concern, you may have to look something up or investigate further.
When responding to prospects’ objections, check if you’ve satisfied all their concerns. Just because they heard what you said, and agreed to your response doesn’t mean they will buy out your offer. Ask if the prospect is happy with your solution and its value.
Don’t force a commitment on your prospects. If you do so, they will accept a solution at the moment, but the object will remain. Restate the objection, and confirm that the prospect will move forward with the deal if you can overcome it.
Don’t waste time overcoming a sales objection that will not take you anywhere because some prospects will never buy. In that case, it’s not an objection. It’s a brush-off. If they don’t have the desired budget, are not fully qualified prospects, or lack the authority, you’re likely wasting your time.
1. What is a sales objection?
A sales objection is a question or concern expressed by a lead that makes them hesitant to buy your product or service.
2. How can I overcome objections in sales?
First, you need to listen and acknowledge the objection actively. Then, offer additional information or a different perspective to look for a solution. Ask more questions to clarify the objection properly. If ready, make a counteroffer.
3. What are the most common sales objections?
The most common sales objections are:
– Price differences
– Implementation timing
– Quality-related concerns
– A competition offering better value
– Lack of interest or need
4. How can I handle objections about price?
When handling objections about price, you must first highlight the product’s or service’s value and benefits. Try to offer discounts or financing options. Finally, compare your product to competitors in terms of value for money, and reflect on the long-term cost savings.
5. How can I handle objections about timing?
When handling objections about timing, you can address the urgency of the situation, show how your product can save time in the long run, offer a timeline for implementation, and offer case studies or testimonials from your existing clients.
6. How can I handle objections about quality or reliability?
For quality-related objections, you can provide data to support your product. Then, offer a warranty or money-back guarantee. Again, you can share customer testimonials or case studies or directly connect with some of your loyal clients if needed.
Objections are significant and a natural process in the sales cycle. If you are a salesperson handling these objections, this should help you tweak your skill and give you commendable ideas and strategies for tackling them. This will improve your sales skills and thereby improve conversions. If you are a growing startup with limited resources, having a sales team can be a lot in your place. Having an on-demand sales team can be your best option. If you are looking for one, reach out to us to perfect your sales journey!
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