Written by Sean McPheat |
16 August, 2017
Objections occur for many reasons.
Maybe you haven’t built up the value of your solution.
It could be the buyer has a similar solution and doesn’t want to change.
Or they don’t trust that your products are right for them or their business.
Don’t be put off by objections.
If you walk away at the first sign of resistance, you will fall at most hurdles.
Firstly, you need to be aware of why the objection has occurred and then see whether there is a route you can take to work with and convince the prospect they are better off with your solution than without it.
The best way of dealing with objections is to firstly understand their cause.
Really listen to what they are saying.
If they consider you are too expensive, then analyse why you didn’t build up enough value, rather than concentrating on reducing your price.
When you know the rationale, you can then identify the best way forward to deal with it.
But firstly get to the route cause.
Here are ten of the most common objections and some suggestions of what to do with each one:
“You’re Too Expensive”
This is probably one of the more common responses, as everyone is trying to cut their costs in business.
Remember…if you start focusing on price, you risk getting into a transactional discussion, where justification goes into the background and simple positional pricing comes to the fore.
Instead, look at how valuable your solution would be for your client’s business and work on how the savings they would enjoy, or the longevity they would experience, or the ease of use they would observe, would all outweigh any seeming discrepancies with price they may have observed.
“There’s No Budget Left This Year”
With this one, the client may well be telling the truth and literally has no funding to deal with it now.
You can determine if that is the only reason they aren’t going ahead; in which case, build up the value of using you when the time comes to set the budget.
Keep in touch with them during the time it takes to secure budget and then approach them with the solution again.
If they really want the product now, maybe there’s a way you can help them support the application for further budget by highlighting the savings the company would make if they bought now rather than waiting.
The savings or productivity increase may outweigh the need to wait for budget sign-off.
This is where your consultancy skills may help them improve their business opportunities.
“We’re Already Using Competitor X For This Product”
For most salespeople, this is the end of the line, as they take the slow trudge back to their office and, head bowed, tell their manager there’s no chance with this prospect.
Instead, feel happy that the prospect has actually realised they have a need for a product like yours.
Find out how the relationship is going with their current supplier, and if there is anything they are still looking for that they are nor enjoying with that supplier.
How’s the relationship going?
Is there anything more they could get that they aren’t at the moment?
Questions like these sometimes creates dissonance with the prospect; they start to wonder if everything in the garden really is as rosy as they suppose.
Talk about how your product may be able to improve results in the future for them, so when the time comes to renew or replace, your product is on their list of preferences.
“We Don’t Have A Problem With That Right Now”
Very often, this comes up because they are in a contented position, comfortable with what they have and the results they are getting.
They may not know that your product offers gains they may not have thought of or allows them to increase benefits they didn’t know about.
Highlight areas that your product or service offers that they maybe hand’t considered.
Offer solutions that would take them from where they are now to a better productivity, process, profitability or procedure that they weren’t aware of.
Help them see that being comfortable now doesn’t mean things won’t be better in the future.
“I’ve Read About Some Complaints About Your Products”
This may be true or made up, but don’t try and defend yourself, as it sounds as if the problems they are bringing up are valid.
If they comments are true and you know about them, you can say that you had some issues that re now dealt with and the product is better than ever.
If you feel the comments are unjustified, you can thank the prospect and say you will inform the relevant departments about the concerns.
Then you can carry on with your questioning about the company’s business and find out how relevant the objection really is.
“You Don’t Understand Our Business. We’re Unique”
This may occur because of a statement you made or because the prospect doesn’t see you as a strong player in that industry.
Whatever the cause, ascertain what experience you have in the industry and determine whether that is relevant or not to the processes you are going through.
In many ways, having knowledge of how companies succeed outside of the industry may be beneficial, in that it gives different perspectives to the solutions you are attempting to work with.
If knowledge of the industry is vital then work with the prospect to discover how your skillsets can help them achieve even better results than they are achieving now.
“We’re Happy With Our Current Solution, Thanks”
It may be that they are simply happy and content and no amount of persuasion will change that.
In which case, move on to where your services will make a difference.
But a quick comment or two on how your solutions have helped other companies to be even better than before may cause the prospect to stop and think that maybe there could be better things ahead, if they only just take the blinkers off and look around.
That opens up the chance for you to create a gap between where they are now and where they could be with your solution.
“I’m Not Interested”
This ‘brush-off’ may simply mean they don’t have time now to discuss it, or they haven’t had a chance to see the value you could offer them.
If you still feel there’s a good fit between your tow companies, arrange to send some testimonials and arrange a follow up with the buyer.
Many of your sales will have been made to companies who weren’t interested at first, but afterwards saw the advantages of dealing with you.
“Call Me In Six Months”
Again, this may be a tactic to get you to simply go away.
Or it may be that something will be different in the next few months.
Use the comment to be interested in what changes may happen in that time that justifies you calling them back.
Something simple like ‘OK, Mr Prospect, I’ll do that. Tell me, what will be different in six months that will justify me calling?”
This question may still receive a brush-off, in which case you simply build up your value over that time period so they really want to talk to you in six months.
Or they may share information with you that could really mean ‘call me in six months’ like an invitation to tender or an expansion of operations.
In which case, you have a reason to call back.
“Your Product Doesn’t Have (Specific Feature) And We Need That”
Determine here if the feature is a nice to have, a need to have or a vital feature for the prospect.
Discuss if other features are just as or more important than the feature they are pointing out.
Work out if a similar product you offer has the feature they want and calculate whether that different product would still offer the benefits that would help the prospect gain the results they are looking for.
If the feature they want and need isn’t offered by your company’ products, see if the other features they would be getting outweigh the benefits of the missing feature.
If so, discuss the results they will get without that feature.
If not, maybe it’s time to move on to a prospect with a better fit.
Remember…some objections are real reasons why the prospect won’t do business with you.
Others are designed to put you off and highlight a possible missing part of your sales technique.
You need to determine which ones are genuine concerns that you can deal with and which are situations where you might want to move on and find a better fit for your business.
MTD Sales Training