One of the major roadblocks for a business is handling objections in sales. This is when a prospective customer just lambasts your sales position and prevents you from selling further. Honestly, you have to get creative sometimes. However, we don't think there is an objection out there that we haven't overcome just by talking through friction points and presenting more value.
If you don’t know how to get around an objection yet, that’s okay. There are many tactics to overcome these objections, as there are always tricky markets that present hurdles to sales.
Here’s a quick tip for handling sales objections right off the bat:
- Always ask relevant questions to reveal the prospects’ problems and then address them calmly in conversation, moving one-by-one matching the pace of their tone and sentiment.
We want to help you handle a “no” like a pro and turn objections into opportunities.
But First, Why Keep Selling After an Objection?
It’s beneficial when a prospect objects because it means that you have a chance to address how they feel about something in a positive way and find the answer they’re looking for. People respond to salespeople, who are genuine conversationalists. They can work around someone who is entirely uninterested, turning an objection into a conversation opportunity.
While salespeople have to be aware of their tone at all times, it’s also body language, inflections, and learning the phrases that work.
Learn the Process and Strategy of Overcoming Objections
If you haven’t been in sales long, you’ll eventually learn that there is a process of handling every phone call. It all starts the same way.
Listen to What the Prospect Says
You can’t have any ADD when it comes to this sales call. You have to focus on not what they say but how they say it. Sales experts say that it’s crucial to listen 80% of the time and talk only 20% of the time, making your points count but also relate to what your prospect is saying.
Repeat the Objection Back to the Prospect
After listening, just repeat back what you heard, such as “I had a client earlier that had the same issues, and we figured out that XYZ meant XYZ (use an impressive number here). Is that something you’d be concerned about?”
Your prospect will typically focus on the impressive numbers or case study that you propose, leading to further questions. This is where you can explore the reasoning and play to your product’s strengths whenever possible. However, you ideally want to listen to your prospect, understand why they are objecting, acknowledging why it’s so important, and then handling the objection.
We find that it’s best to use a related story from “an existing customer” or a “client you just spoke with.” It’s also important to share real statistics with these statements so that your prospect wants to hear more. If you have social proof such as customer testimonials, these images, videos, or testimonial statements should be on your website.
If Answered, Summarize and Move On
If the prospect is satisfied with your answer, but you were interrupted from an earlier part of the presentation, you need to summarize the points you started with and move on to the next point of your presentation or pitch.
Quick Tips for Common Objections and What to Say
Sometimes it’s just a turn of a phrase that can keep a prospect interested in speaking with you. In other cases, you say the wrong thing, and they may just hang up the phone or unsubscribe from your newsletter.
Whatever you do, never take the prospect's objections personally. Always keep your eye on the prize, which is getting a new customer!
Objection #1: “That’s too expensive!”
This is probably the top objection for any salesperson. Everyone says it costs too much, or it’s not in the budget. Even prospects who could buy something may simply say this because they don’t have the time to listen to you.
Instead of focusing on the price, focus on the value of the product. What could it mean for their business? Talk about what it has done for your other clients, and how much money or time was saved because of it. This is where statistics and social proof shine.
If the client doesn’t have a budget to afford your product, then track their growth online and see other ways of helping a prospect accept your offer. This may mean a little discount or setting up a payment plan, if available.
Note on Cash Flow Issues
Some businesses spend more in quarters than in others, and it could just be a timing issue. However, you could sell this as a critical need to help the business in the long run, which could lead to money savings. You should schedule a follow-up call when they have more funding available, but first, try to sell the value. It could also mean that you're not speaking with the right decision-maker.
Objection #2: “We’re already working with XYZ company [your competition].”
There are multiple objections here, including:
- I’m in a contract with X.
- I’m working with company X already.
- I’m happy with our [competitive product] already.
This is a great find with a prospect. It shows that they already know about the service or product, and they like the solution. You would have had to provide more insight to other customers, but since they already know about it, you can talk about your product.
Remember, they may not be happy with the competitor, so ask probing questions about the relationship like “How is it working well? Do they provide X feature [that you know they don’t offer because you’ve researched the competition]? When talking to the prospect, pay close attention to complaints that your product could help with.
If they are trapped in a contract, offer an incentive, or even offer to buy them out of it with a discount if their business is worth it. You might want to check with your sales manager for this one.
Objection #3: “I can get that cheaper elsewhere.”
Are they talking about your competitors? Are they talking about a bootleg of your product? Are they just saying this to drive down the cost? Is it true that some product out there is better, faster, stronger, and sold for a lower price than your own?
You could lay down a deep discount if there is a real product that matches yours in quality but costs far less. If they want a lower price, you may have to walk away. However, you should also take advantage of any comparison presented. What are the points of value that the prospect brings up? Play up the strengths of your products and services to show more value and why it’s worth it for their specific problem.
Objection #4: "I've read about this. It's a scam!"
This is when your online reputation management team needs to go to work. There should be plenty of evidence in search that your brand and products are amazing and worth every penny. If you have poor reviews, bad ratings, scam comments, or BBB complaints, you may need to do some reputation management before jumping into handling objections in sales.