The Best Way to Respond to Common Sales Objections
The Best Way to Respond to Common Sales Objections
In the sales world, objections are inevitable. The real triumph is learning how to respond to them so that you can save the deal.
Often salespeople fail to respond to objections due to shock and fear. They do not adequately prepare for negative responses and therefore take an objection at face value.
An objection is not always a negative sign. Sometimes it means that the prospect needs a little push to make his/her decision.
To help you, here are 10 common objections salespeople receive along with intelligent responses you can use. Next time you receive an objection, don’t freeze up in fear, but rather use these great responses!
Sales Objection 1: “We can’t afford it.”
The most common objection that salespeople hear is affordability problems.
To respond to this objection, bear in mind that the human nature is always to lower a price. Your prospect could be using this tactic so that you could lower your price and he/she can get a better deal.
But because you want to save this deal, aim to explore why this prospect can’t afford the product.
The first response you should give is, “I completely understand. But there is always a difference between a purchase and an investment. With a purchase, you’re not getting any rise in value, you enjoy the benefits of a product at the same rate throughout.
But with an investment – like this is – the value appreciates over time. It ends up saving you money and time in the future. So, you’re making a financial sacrifice in the present, for financial benefits in the future. It always makes sense to think long-term, don’t you agree?”
If your prospect responds “yes”, then here’s what you say next:
“Here’s what I recommend we do. I understand your problem, but let’s take the price out of the equation for a moment. Are there any other concerns that you may have?” “I definitely hear what you’re saying, but let’s take the price out of this for a moment. Are there any other concerns you have with investing in this product?”
If the prospect has further concerns, address them one-by-one. If he/she still objects to price, it’s an indication that they see affordability as a true barrier to investment. You can respond in this way, “Often, affordability is an issue that clients solve after careful analytics. I would be happy to help you analyse your affordability and come up with a way for you to afford this product.”
If the prospect keeps objecting based on affordability, let them go. Ask them whether you may contact them in a few months’ time, but don’t keep pushing the sale.
Sales Objection 2: “We’re happy with our current provider.”
If they are happy with their current provider, find out what makes them happy. Is it price, features or service? Dig deep into their need to remain with your competitor and look for an angle to show that you can offer better.
Sales Objection 3: “How did you get my number?”
I’m sure you’ve heard this one, especially when cold calling. Don’t get defensive. Remind the prospect of how you got their information and then get straight into the call’s objective.
Sales Objection 4: “Not right now, we don’t need it”
This objection simply means that the prospect has not understood the value you will bring to their business. Focus on explaining how your product can solve their problems. List every benefit of this product and make sure they understand the first benefit before moving onto the next one.
Sales Objection 5: “Your competitor is giving it to me at a cheaper price.”
Okay, now your prospect is putting you up against a competitor, smart move for lowering the price. But if you understand the value of your product you need not be scared.
Firstly, go into every meeting with a view on your competitor’s products. You want to have a document depicting a comparison between you and your competitors in all spheres. Include how you outperform your competitors. The best way to do this is with a graph.
When your prospect gives you this objection, whip out that graph and start explaining how you give more value than your competitor.
Sales Objection 6: “I’m not interested.”
Sometimes your prospect just won’t have it. If that’s the case, offer to send some resources via email and schedule a follow-up call.
Sales Objection 7: “I don’t understand what this product can do for me.”
If you receive this objection it’s a sign that you have failed to pitch the benefits of your product. Again, focus on explaining how your product can solve their problems. List every benefit of this product and make sure they understand the first benefit before moving onto the next one.
Sales Objection 8: “It’s not a priority for us right now.”
Try to discover what their list of priorities are and remind them that this is an investment for future benefits. Describe to them what will happen if they don’t take this investment – outline serious consequences.
Sales Objection 9: “We currently don’t have the capacity to implement this.”
This one can be a deal breaker. The best way to deal with this is to understand what capacity issues they will have, then try to see if certain tasks can be automated to deal with these issues.
Sales Objection 10: “I’m not the person you should be speaking to; only ‘X’ can authorise this purchase.”
The last objection is easy. Simply ask them to give you the details of the right person to speak to.