Part I: first 15 Sales Objections
Knowledge, KiSS, Hurry? Trust, Samples, Trial, Objections, Listen, Source, Solution, Facts, Discounting, Relate, Brushoff, Personal,
Part II. second 9 Strategies for Overcoming Objections
Patience, Anticipation, Listening, Validation, Repetition, Evidence, Social, Analysis, Follow-up Meeting
Part III. The other 30 Most Common Sales Objections
Part I: first 15 Sales Objections
Sales Objections are a fact of life when you’re in business, and how you handle them can determine whether your business struggles or thrives. Here are the first 15 tips to help you overcome Sales objections more easily. Every business Owner or CEO is in sales. Your business relies on customers and even if you have a Sales staff, the person that cares the most about your business’s success is you. When you pitch your product or service, a conscientious potential client may bombard you with objections. Here’s how to overcome sales objections:
- Know what you’re Selling. Seems obvious, doesn’t it? However, knowing your product or service does not stop at reading the data and knowing about your competitors. It is about truly understanding it and believing that it solves a need in the marketplace. People sense enthusiasm.
- KISS Keep it short & simple. You only have a few seconds to make them ask for more. It’s that elevator pitch—the 15 to 30-second summary of why you are taking up their valuable time that may make or break the sale. What do you want them to know right now? Hint: They are looking for something better than what they have. Does it solve their problem? How does it do it?
- On the other Hand, don’t Hurry. There is a difference between presenting your pitch efficiently and rushing. If you act as if you can’t wait to leave, your prospect will gladly show you the door. Listen. They will tell you their wants & needs.
- Establish Trust. It is all but impossible to sell something unless the person you’re selling to trusts you. Dale Carnegie, in his book, “How to Win Friends and Influence People” said that the way to a sale is to have a genuine interest in people—not what you can get out of them but what you can give to them – the Value !!!
- Supply Samples. Objections will often stem from risk. Does the person want to risk failure & embarrassment if your product or service doesn’t work out? You can curb that risk by offering a “free” sample. If you have a quality product, it will sell itself.
- Offer a Trial period. If you offer a service rather than a product, offer a free month. This allows the customer to keep their current provider relationship intact while trying your service.
- Bring up the Objection first. You likely know the objections so bring them up at the outset. “We don’t claim to be cheapest, but once you try us, you’ll find that the value you receive far outweighs the price.”
- Be a Listener. Valuing people starts with listening. Encourage them to speak candidly and then respond to what you hear. This will go further than monopolizing the conversation.
- Find the Source of the Objection. It might be tangible. “We don’t have the budget.” Alternatively, it may be imagined. “We’re happy with our current provider.” Each of these requires a different message.
- Offer the Solution as a Question. For each objection give them the answer that would solve the objection. “What if I could show you that our service will cut your costs by 15 % the first year?”
- Stick to the Facts. Salesy words like cutting edge, innovative, game-changing, or best in class are not only tacky, they do nothing to sway a person’s opinion. You can say you are the best, if you have data to back it up.
- Be careful about Discounting. There is always someone willing to sell for less. They are not making money and they will not be in business long. Don’t get into a price war. It cheapens the value of your product or service. Instead of discounting, add value to your product. Besides, is a sale where you don’t make any money really a win?
- Relate to the Objection. Keep coming back to empathy. Sometimes making the sale today isn’t as important as understanding the person’s position. If the prospect doesn’t want to commit because they are afraid of losing their job in the near future, offer to give their Resume to Clients that might be interested. It is not only the right thing to do, but it will build the relationship.
- Don’t stop at the Brushoff. “Send me some information” is a classic that you have likely heard before. Use that to set up a meeting. “Could I bring some information by your office and go over it with you?”
- Don’t take it Personally. When they say No, don’t take it personally, even if it sounds personal. They are not objecting to you—they do not know you. They are objecting to your product or service. The more you work to build the relationship – despite the frosty response you are getting, the more likely you are to turn them into a customer.
Conclusion: Are you the type of person who thinks that you don’t have the personality for sales? Your skin isn’t thick enough or your personality is introverted? Very few people are natural salespeople. It takes practice, making mistakes, and learning from those mistakes to gain skill. Don’t sell yourself short. All it takes is a firm belief in your product, a genuine caring for others, and practice to communicate it.
Part II. 9 more Strategies for Overcoming Objections in Sales
Topics: Patience, Anticipation, Listening, Validation, Repetition, Evidence, Social, Analysis, Follow-up Meeting
Before we look into the specific Sales Objections you’re most likely to see, let’s talk about some general strategies you can use to overcome objections.
First, always remain patient. Some salespeople treat overcoming sales objections as a desperate race. They’re eager to shut down the objection as quickly as possible. You’ll likely find more success with a more patient & understanding approach. If you’re too reactive or if you seem impatient, your prospect will feel pressure, and they may stop talking to you altogether.
One of the best ways to address an objection is to disclose it – before your prospect does. This shows that you understand the weaknesses of your product, or the possible position your prospect is in. Either way, your prospect will be impressed, and your response to the objection will seem both more sincere & less argumentative.
3. Active Listening.
Active listening is an important tool in all forms of sales & customer service. If you simply pay attention to what the other person is saying, you’ll be seen as more respectful & friendlier—plus you’ll learn more about their position. This allows you to craft a more persuasive response, and form a closer bond with your prospect.
Too many salespeople attempt to refute sales objections immediately; instead, it’s often better to validate them. A simple statement like “I understand our product is outside of your usual budget,” or “I totally get you’re busy, and I don’t want to waste your time,” shows compassion and will be much more likely to keep the conversation going.
When your prospect explains an objection to you, repeat it back to them in your own words. It’s an effective way to show that you’re listening and taking their thoughts seriously. It’s also an opportunity for reflection; absorb what they’ve said and incorporate that idea into your next pitch.
6. Objective Evidence.
It’s incredibly hard to argue with objective evidence. If you can disprove the premise of your prospect’s objection, you can almost instantly remove it from the conversation. For example, if they claim your product won’t yield a positive ROI, you can tell them how much your customers earn, on average, from using the product.
Most professionals understand that salespeople are persuaders, so they’re inclined to take everything you say with a grain of salt. However, if someone else praises your product or your business, they’ll be more likely to take it seriously. This is the idea behind social proof; provide your prospects with good reviews, testimonials, and experiences from other customers.
8. Deeper Analysis.
Most objections start as a single sentence, or a short description of a given problem. If you want to address the objection in a more effective way, consider asking more questions and learning more about the situation. They believe the product is too expensive, but what would be a fair price point? The additional knowledge can help you come up with a better solution.
9. A follow-up Meeting.
In some cases, objections can’t be addressed with a single meeting. Consider offering a follow-up meeting, where you can come back with more data and have a fuller conversation. Even if you’re not sure what objections you might face, these tactics can help you stay ahead of them.
Part III. The 30 Most Common Sales Objections
It’s even more useful to know the specific sales objections you might encounter, and learn to counter them in a focused way. These are some of the most common sales objections you’ll hear:
1. It’s too Expensive $$$.
This is one of the most common objections, because price is a major point of consideration for almost any kind of purchase. If you hear this, you have several options: 1) You could try to justify the price by explaining the objective benefits or ROI of the product. 2) You could try and negotiate, getting the prospect to agree to a lower rate. 3) You could also come up with an idea for other costs to cut.
2. We don’t have the Budget for it.
This is a similar objection to the “expensive” tactic, though it’s a bit harder to get around. Many departments have a finite budget for certain expenses, and if your product exceeds that allocated budget, your prospect may have little power to overcome it. Consider talking to someone higher up, or justifying the price.
3. The Contract is too long.
If your product or service depends on a contract, your prospect may argue that the terms of the contract are too long. This is a simple objection; you may be able to win them over with shorter or more flexible terms.
4. We’re choosing a Competitor.
Be thankful for the prospects who are honest about their decisions. If they’re going with a competitor, you’ll have a very slim chance of recovering the deal. However, you can learn more about your competitor—including how they were able to steal the sale from under you.
5. We’re already working with a Competitor.
If your prospect is currently working with a competitor, you may be able to convince them to make the switch. Figure out what they don’t like about this competitor, and find a way to position your product favorably. What can you do that your competitors can’t?
6. I can get this Cheaper.
For budget-conscious prospects, price is everything. If there’s a product like yours that’s much less expensive, you’ll be hard-pressed to counter this objection. Again, try to justify the price or point out why the competing product is inferior.
7. I’m already satisfied with what I have.
If you’re offering an alternative to what your prospect is currently using, you’ll have to identify some kind of weakness or drawback. If they claim to be satisfied, you’ll need to ask critical questions to figure out what the product could be missing that yours can provide.
8. I heard that (untrue statement).
Sometimes, prospects will object to your product because of a misconception or a misunderstanding. This is one of the easiest objections to address; all you have to do is explain the root cause of the misunderstanding, and (ideally) refute it with hard evidence.
9. I don’t have the Authority to buy.
Here, your prospect isn’t in charge of decision making, and therefore can’t make a purchase. If this is the case, ask your prospect to point you to the person who can make the decision.
10. I can’t persuade my Boss.
Occasionally, your prospect will serve as a middle man between you and the decision maker. If this is the scenario you face, consider offering to have a meeting together with the group, or provide your prospect with resources (such as sales sheets) they can use to persuade their boss.
11. use Email Analytics
- 35-50% of Sales go to the first-responder.
- Following up within an hour increases your chances of success by 7x.
- Salespeople spend an average of 13 hrs per week on Email.
12. We’re about to go through a major Transition.
If a company is about to undergo a merger, acquisition, or other major transition, they may not be in a place to make a significant purchase or a change to their approach. This is another objection that’s difficult to bend, so try to find out more details about the upcoming change.
13. We’re too Busy.
Companies sometimes avoid purchases during especially busy times. If this is the case, you can make the pitch that your product will actually help the company get through this busy period; for example, your product may be able to help them save time, or allow them to work more efficiently.
14. I’ve never heard of your Brand.
If you’re generating new leads through outbound sales, you’ll encounter prospects who refuse to buy simply because they’re not familiar with your brand. Take this opportunity to introduce yourself, and explain the philosophy and values of your brand.
15. I don’t Trust your brand.
Consumer trust is huge. If your prospect doesn’t trust your brand for one reason or another, consider providing them with more social proof, or asking them what it would take to get them to trust you.
16. We’re already seeing the results we want.
Some professionals are complacent with whatever results they’re currently seeing. Sometimes, this is a polite way of pushing you away. Other times, it’s presented because prospects are under-estimating the results they could see if they invested in a new product. Try to figure out which is the case with this prospect.
17. This isn’t a current Priority.
This is another polite way to say “I’m not interested.” Your only real hope of resolution here is to make the person see why this topic should be a priority. Use statistics or industry metrics to explain the value of your product, and why this problem is worth solving.
18. I don’t see the need for this.
If your prospect tells you this, you’ve either done a poor job of presenting your product, or you’re very early in the conversation. Try to quantify the benefits of using the product, specifically tailored to this organization.
19. I’ve seen too many Complaints about your business.
If your business has a few bad reviews or negative testimonials online, it could harm your sales campaign. Try to point out the number of good reviews that currently exist, or explain what makes the bad reviews negligible. Just don’t push too hard, or you’ll seem desperate to cover up a problem.
20. I’ve had a bad experience with something similar.
Personal histories can sometimes get in your way. If your prospect has used a similar product before and hated it, you’ll be hard-pressed to convince them to try yours. Explain what makes your product different, and highlight your competitive advantages.
21. We don’t have the Resources to get started now.
In some cases, prospects are unable to use your product now, because they don’t have the manpower or other resources necessary to make it work. Here, you have a few options. You could brainstorm with them to figure out a way to get the resources, or make the product more accessible somehow.
22. Your product is too Complex.
Does your product seem too hard to use? Show them just how easy it is to learn. Oftentimes, a simple demo, or a link to a simple tutorial can clear up a misunderstanding.
23. You don’t understand my Business.
This is more of a combative sales objection that comes up whenever a prospect feels unheard or misunderstood. Try to recap what you do know about their business, and ask what you’re missing. A true dialogue here can resolve any standing issues—but may introduce new types of objections.
24. Your product is missing a key feature.
What if your product is missing an important feature, or a specific integration? The easiest way to counter this objection is to consider building in the new feature—after all, if they want this feature, chances are many other customers will appreciate it as well. Otherwise, you’ll have to explain why this feature isn’t necessary or helpful, which is a harder sell.
25. There’s no real ROI.
Will your product offer a meaningful return (ROI) on your prospect’s investment? If they’re not convinced, they’re going to need to see more hard data—and possibly some real examples of customers who have seen it.
26. This product is a Fad.
Occasionally, faddish products make rounds among popular companies, and some prospects are skeptical of their use. Speak to the long-term benefits of using your product, or explain your roadmap for product updates in the future. Make it obvious that this isn’t a mere short-term play.
27. We have too much existing Infra-structure in place.
Here, your prospect will feel like they can’t fit your product into the systems that already exist in their business. You’ll need to get more specific details to help them overcome this challenge.
28. I just want a Quote / more information.
Some prospects will stop your pitch short, prompting you to send them a Quote or more information. If this is the case, it’s often best to comply with their wishes, but keep pressing them for another conversation in the future.
29. Call me again next Year/Quarter.
If a prospect is interested, but now isn’t a good time, it may be best to leave them alone and set up an automatic notification to reach out in the future. But before you do this, make a pitch for why now is the perfect time to get started with your product—it’s worth a shot.
30. I’m too busy to Talk now.
Everyone is busy. If your prospect says they’re too busy to talk to you, try to offer a shorter pitch; convince them you can sell the highlights of your product in a few minutes or less, then optimize your “lightning round” pitch for such situations.
31. How did you get this number?
Effective lead generation strategies are organic and straightforward, but if you do any cold outreach, you might get pushback from strangers who don’t know anything about you. The best approach here is to be straightforward & sincere; explain how you got the information, show that you understand their business, and convince them this is an opportunity for them to improve.
32. I’m just not interested !!!
Sometimes, the simplest sales objections are the hardest to overcome. If a prospect hits you with something generic like “I’m not interested,” your best play is to try to find out more. Chances are, there are a few other objections lurking behind this façade, and it’s your job to find out what those objections might be. You might get some non-responses, or some hang-ups in pursuit of this, but don’t let them deter you from asking follow-up questions of other people.
Comments: did we miss any Sales Objections and how to handle them? Let me know.
fm Sales Analytics & Biz Know How 8/21 enhanced by Peter/CXO Wiz4.biz
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