How to Respond to the Most Common Sales Objections
Objections are an inevitable part of sales. Some objections are legitimate reasons to disqualify, while others are simply an attempt to brush you off. How you respond to these objections can be the difference between a clear future with the prospect or a closed file. In this article, we’ll review the most common sales objections and how to best respond in those situations.
There are several objections that come up when you talk about price. Assess the situation and tailor your response to match. Start by listening to the prospect and showing a keen sense of curiosity and empathy. Then, communicate the value of your solution. If you show price without value, you become just a number.
When a potential customer says, “It costs too much,” it’s helpful to know if the prospect’s response is based on a cashflow issue or a budget issue. If it’s a cashflow issue, consider offering flexible terms. If it’s a budget issue, discuss pricing options for different variations of the product or service.
If the prospect says, “I can get the same service from someone else for less money,” focus the conversation on the unique value that you offer, one your competitor can’t provide.
If you sense hesitation after you present your price it may be helpful to ask, “Is price the only thing that prevents us from going forward?” This will help you better direct the conversation.
Status Quo/Fear of Change
Fear of change is common. You may hear, “We’ve been doing it this way for 10 years” or “I’m okay with the way things work right now.” The fear of change can be one of the biggest barriers to overcome. To take on risk, not only does the prospect need to think a decision is right, they also need to feel it’s right.
When you face this objection, it’s helpful to share a success story that paints the buyer as a hero, or makes the fear of status quo seem more frightening than the fear of change.
Another option could be to show your prospect how their industry has changed over the past few years. This may help them become more confident about making a change. Always assure the prospect that you’ll be there with a training and support system in the beginning, middle and end of the contract.
It takes time to build trust, but in some selling situations you’re asking your potential client to trust you immediately. You’ve probably been asked, “How do I know you and your company actually have the experience to help me?” Always be honest and consistent in your answers to this question. Share testimonials or case studies that demonstrate how others have benefited from your company’s products or services. Doing so will overcome some of the prospect’s indecision and convince them you can get the job done.
It’s tough to overcome the “family and friends” objection. Many salespeople give up on a sale when they hear something like, “I always use my wife’s father’s company.” You may not feel like you can convince your prospect to be disloyal to a family member or friend, but you can set yourself up to be next in line. Discover whether there are other opportunities, such as a phase two or a project off-shoot, where your company can help.
Input from Others
How often have you heard, “I need to run this by my partner/manager before I make a decision“? If the prospect is actually consulting with others, then the outcome may still be positive. To ensure your prospect isn’t using this as an excuse that ends the deal, try to stay involved. Suggest that both you and the prospect meet with the decision maker so that you can answer any questions. Do not simply wait for a call back. If they walk away, the sale may be lost. Ideally, you want to get in direct contact with the authoritative figure.
Another common objection by a prospect is procrastination or timing. You might hear, “It’s too much for me to take on”, “I’m too busy” or “Try me again in a year“. In this situation, it’s helpful to understand the reasons behind the statement. The reasons determine whether or not to pursue the lead.
Try asking an open-ended question like “What is a priority for you right now?” or “What are you working on?” These questions will help you identify if building urgency would be a good tactic to use or if you’re simply being brushed off.
Objections are not Rejections
Sales objections can be discouraging, but it’s important to remember that they are not always rejections. Many times they are simply requests for more information. When faced with an objection always maintain a positive attitude and respond with understanding and patience. When you’re familiar with common objections and equipped to answer them, it will be easier to distinguish between prospects who have the potential to be good customers and prospects with whom you need to part ways.
Founder of RedRock Leadership