Objections are a requirement to a successful salesday. Without them, you’re likely not really engaging your prospects and customers.
The introduction of an objection can spark a flow of information that can help you further qualify a sales opportunity … and better understand the needs, wants, and current environment of your prospects. For this reason, you should work to understand and embrace the true objections (challenges) you might be facing.
When companies and individuals have an objection to making a purchase, it’s one or some combination of the following eight.
Print them out (get a printable version here). Review them. Know them.
When you’ve hit a wall, check your sales opportunity against them.
The 8 Objections
- Lack of perceived value in your product or service
- Lack of perceived urgency in purchasing your offering
- Perception of inferiority to a competitor or in-house offering
- Internal political issue between parties/ departments
- Lack of funds to purchase your offering
- Personal issue with the decision maker(s)
- Initiative with an external party
- Perception that it’s safer to do nothing
Go a little further…
A few thoughts on how to better embrace the objections of your prospects and customers…
Position in your mind the regular objections you hear as not only an inevitable step to bringing in more business, but also as a positive step. Objections confirm a level of need or desire for your product or service and help you better determine the next steps you should take in a sales process. For the prospect, your responses to the objections can help them validate or support their buying decision.
This is why the responses to your top objections (those you and your team hear most often) must be well-planned and prepared.
What makes the best response to an objection?
Be sure your responses show an appreciation for the objection in a way that validates the prospect’s concerns … and then addresses the issue very directly. Any response that could be misinterpreted as defensive, evasive, manipulative, or sarcastic should be eliminated. Leave slick and cute lines to your competition.
Once prepared, work through the delivery of each response with those on your team, as well as some individuals outside your sales department. Get genuine feedback, make appropriate changes, and then practice the delivery of your responses until you have them as natural and as tight as your opening prospecting statements.
Selling is about helping your prospects and customers solve a problem.
Be non-abrasive. Think appreciation and validation. Be direct.
Objection responses (samples)
These are built for the “price is too high” objection but can be adjusted for many of the other common objections by replacing a few words.
- “That’s a valid issue, Susan. Several of our current customers had those same concerns at the beginning. Let me show you some examples of how those purchases paid off.”
- “I understand your price concern, Bob. In fact, I’m sure several others in the room have similar thoughts. Initially, the price can seem high but in the mid and long terms, I’m pretty sure you’ll be very excited about the return on investment. Let’s take a look.”
- “Yes … it does seem a bit high initially. When you look at the complete value of it over the life of its service, I think you’ll feel much more comfortable with the investment.”
Print it out. Stay inspired.
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