Sales Objections and How to Tackle Them
Objection in sales is one of the most critical problems faced by sales representatives and managers. Here are a few ways to turn objections in your favour.
What are sales objections?
Sales objections are statements which indicate that a prospective client is apprehensive of purchasing the products or services you are selling. The prospect may be hesitant towards completing a sale owing to a number of factors. Perhaps, the prospects are not fully convinced about your service or product or maybe, they are just trying to avoid you as they may think that they do not require the product of the service that you are offering to sell. However, most sales objections, if handled proactively, can be turned in your favour. For example, if the prospect thinks that he or she does not need your product or service, then you can overcome this objection by explaining to him how and why they need the product or service that you are offering. Objections in sales are very common, and every sales representative and every manager would have faced such objection through their careers. Handling sales objections is a key part of sales and marketing.
How to handle sales objections?
There are many ways to handle sales objections. However, the most common way is to find out the reason behind the hesitation of the prospect to complete the sale. Only if you can analyse the reason for the apprehension of the prospect towards completing the sale, you can give concrete reasons to convince him or her to buy the product or the service that you are offering. If you cannot analyse the reason behind the apprehension correctly, it is highly unlikely that you would be able to complete the sale. For example, if the prospective client is apprehensive about the pricing of your product or service, but you explain to him about everything else but the price perspective, then it is highly unlikely that the prospect will buy your product or service. Handling sales objections is the key difference between average and successful sales personnel. The more effectively you can handle and resolve sales objections, the more successful your sales career can be.
Most common sales objections and how to turn them in your favour
Sales objections can broadly be categorised into four categories. The following is the list of most common sales objections that are faced by almost all sales representatives and managers across the globe:
Regardless of who your prospective buyer is, the price is, most certainly, one of the most prevalent factors that influence the decision of the buyer. All sales objections related to the pricing of products and services can be classified under the budget objections. The following are some examples:
* “We don’t have the budget assigned for this.”
* “It’s just too expensive for us.”
* “There’s no money to invest in your service.”
* “We have exhausted the budget for this year.”
* “I can get a similar product for a lower price somewhere else.”
Most sales professionals offer lower prices on their products and services almost immediately. Contrary to popular belief, offering a discount too quickly can make you seem desperate to make a sale and even raise questions about the quality of the product or service. A better way to handle objections related to price are to pro-actively offer value to the prospect rather than offering discounts. Explain why the product or service costs as much as it does, break the costs into smaller pieces so that the prospect can understand your perspective better. Offering a discount should be the extreme last resort, and that too, after the prospect agrees to the sale.
There are times when your prospective buyer states that he does not have the authority to sanction the sale. Now, this may mean different things. For example, if the prospect is not interested in the product or the service, and doesn’t want to engage in the conversation, he or she might lie to you to avoid having a conversation with you. Another possibility is that the prospect might not be lying and he actually must not be authorised to make the purchase. The following are the examples of objections which refer to authority:
* “I need to consult with my boss/business partner/manager.”
* “My manager/boss says no thank you.”
* “I’m not authorised to sign off on this purchase.”
* "My boss isn't convinced."
* “I can’t sell this internally.”
If you think that the prospect is not lying, then you can see this as an opportunity to get in touch with the decision makers, and identify and address their concerns. Rather than waiting for a phone call try to schedule a joint meeting with the person who has the authority to make decisions.
Most people are afraid of change and often stick to the products and services that they already use. Owing to the complacency, they would not consider your product or service even if it offers more value than what they are using. The following are some objections that refer to complacency and need:
* “I’m happy with my current setup.”
* “We’re already working with another company.”
* “I’m locked into a contract with another company.”
* “I’m happy with the product/service that I’m using.”
* “We're doing great without your product/service.”
* “We’re happy the way things are.”
* “Your product/service is just a fad.”
Overcoming sales objections of these type will often require much more effort and time. You will have to seek a chance to offer more information on the product or service, and then you will have to convince the prospect how your product or service can be more useful to them than the one that they are already using. You can also cite examples or case studies where a change has led to positive results to boost the clients’ confidence.
Objections which refer to time as a constraint can be tackled rather easily as compared to other objections. Such objections are very common at the end of the fiscal year or when the holiday season is around the corner. The following are some objections that refer to timeliness.
* “We’re too busy right now.”
* "Contact me in a few months when we have more budget."
* “Call me back next quarter.”
* “I’m busy right now, just send me some information.”
The most compelling reply to such objections is to make an offer to compel the prospect to make the purchase and also make it clear that they cannot avail similar benefits if they purchase it later. If the prospective client tells you that you should call later or that he is busy, then you should call later. Or better yet, ask what would be a good time to call so that you don’t disturb him or her.
The objections that refer to value as a constraint are often combinations of the objections which refer to budget, authority, need, and timeliness. To build value for the product or service, you have to build credibility with the buyer to overcome their lack or trust. The following are some examples of objections which refer to value:
* “I need to think about it.”
* “I’ve never heard of your company.”
* “I don’t see what your product can do for me.”*
* “I don’t understand your product.”
* “You don’t understand my challenges.”
* “You don’t understand my business.”
* “I don’t see the potential for ROI.”
* “Your product is too complicated.”
* “Your product doesn’t have the feature that we need.”
To offer value of your product or service to the customer, you must first believe in it. To create a trustworthy relationship, you must be honest with the buyer. Address the customer’s concerns and demonstrate how your product or service can meet their requirements. If there is a warranty, guarantee, or a return policy on the product or service that you offer, explain it to the buyer; such policies reassure the customers that they are making a good decision.
In order to know, how we can help you manage your sales team better, connect with us:
Visit website: http://www.cygneto-apps.com/field-sales
Phone No: +91 98250 77021