Written by Sean McPheat |
15 August, 2018
Objections occur when prospects or customers have not seen the overall value of the solution you are offering to them or their business.
Depending on the type of objection, you can view it from different perspectives; it could be a sign they are interested but some variables like price need to change, or some of the parameters they are judging the solution against don’t match up with their needs.
Whatever the rationale, here are three quick tips when dealing with customer objections:
1) Find out the criteria buyers will judge the success of any solution by, before you discuss the solution
By this, I mean you need to uncover what is most important to the prospect in respect to the solution you are discussing.
Is price the prime motivator of choice?
Is return on investment a pre-requisite for deciding?
Would technical spec or other feature be more important?
As soon as you uncover the main decision-making criteria the prospect will use to judge a successful deal, you can cover that in your presentation.
2) Be absolutely clear on what the REAL objection is
You cannot deal with an objection if you’re not clear on the reason it’s been brought up, or its implication.
For instance, if the prospect says ‘You’ll need to do something on the price’, you need to clarify exactly what they mean.
By simply going into discount mode, you run the risk of giving your margin away without any justifiable reason, and the prospect may take advantage of it.
Be absolutely clear on the deeper meaning behind the objection before attempting to work with it and deal with it.
3) When an objection is brought up, isolate it
This means asking if this is the only issue holding them back.
If it’s a price issue, for example, you could ask if that is the only reason for not going ahead.
If it is, then you know what you need to be working on next.
If they see there are a number of issues, you could ask to handle them one by one.
Either way, you are able to deal with them in a professional way before advancing to gain commitment to the next step.
Try these three tips the next time you’re in a situation where an objection may be in the offing, and see if it works out better for you.