How to avoid or overcome sales objections effectively
Have you ever begun a relationship with a prospective customer, they fit your description of your ideal customer perfectly, your presentation went extraordinarily well, they needed your product/service, they knew they needed it, all the buying signs were there, and then you asked for the sale….. and then they said one of the following:
- “I need to think about it.”
- “I’ll get back to you.”
- “I’m going to shop around.”
- “It’s too expensive.”
- “I need to speak with my wife, husband, business partner, life partner…”
- Fill in your own lame excuse (aka objection) here_________________
I've lost count of the number of sales I’ve lost right at the end of the process. When I asked for the business I got one of the above objections. And every single time I would go home, feeling dejected, frustrated, and blaming the customer for their own ignorance!
Well, we know the truth now, don’t we? Customer objections are our own fault – and that’s great news! Because if it’s our fault then that means we can do something about it. So, in no particular order, here are some of my top tips on how to avoid or overcome objections and win more sales:
Chances are, there are only a few objections that you are getting, most of the time. So you can plan for them! Expect them! Write down your most common objections, and then script out how you’re going to respond, and then practice, practice, practice. Next time you get that objection, no problem, you are going to handle it like a true professional!
2. Take precautions
Pre-handle your objections much earlier in the sales process. Ask at the start, “Who else needs to be involved in this decision?” so you don’t get the “I need to speak with…” objection. Ask about their budget, so you offer a product that fits their budget and don’t get the “too expensive” objection. If you're worried that when you ask what their budget is the customer be worried you're going to try and sell them something at the top end of their budget, then it sounds like you haven’t earned the customer’s trust!
The truth of point #2 is, if you have an excellent sales process which you execute flawlessly, then you shouldn’t get objections at all!
3. Always, ALWAYS, agree with the objection.
This puts the customer at ease so they know you’re not going to try to put pressure on them. “I agree Bill, it is expensive!” You can justify it afterwards, and have a conversation about it, but you've acknowledged how the customer is feeling which is vital.
4. Get all the objections out before trying to answer them.
“Bill, other than it being more expensive than you expected,” (and that should never happen because you confirmed budget earlier) “are there any other reasons why you wouldn’t go ahead?” Once you have been told all of the objections (and usually only one of them is the real objection), then say, “So, if these concerns you have were not an issue, you’d then be okay to go ahead?” When they say yes, you say, “Well, then it would be worth investing some time to address these concerns, wouldn’t it?” Then answer all the objections in turn and ask for the sale again.
5. Demonstrate value
Finally, when it comes to objections about price, I would like to quote the great sales guru Jeffrey Gitomer: “Price is the objection you get when something else is wrong.” I think what he means here is, when the customer says “price”, you have not demonstrated value, earned trust, built a relationship, met the customer’s needs exactly, or so on.
Remember, objections are inevitable. So instead of trying to sell harder, or simply getting angry at the customer, it’s time to refine your sales process to deal with objections appropriately, and then practice, practice, practice!
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