Consider an objection to be a challenge, your prospect is putting hurdles in between you and that important sale. Many sales experts consider an objection to be a delay tactic, perhaps it means that you haven’t engage the prospect emotionally in your product, or you haven’t given them enough information, perhaps they don’t trust you or they just aren’t sure.
Any salesperson will know their top 5 objections, it’s the line they hear every working day when they haven’t quite clinched a sale, there’s an opportunity to use this knowledge to your benefit. If you know what hurdles you are likely to come up against remove them from the beginning.
Let’s take the top 5 objections and investigate at what point you could remove them prior to closing the sale:
This will only be an objection at the end of the sale if you haven’t sold your products USP’s effectively. You should know why your product is priced as it is, the selling points, and value for money. The fact that you are presenting to your prospect means that they are in a position to buy YOUR product at the price it is. From start to finish you have to achieve three “yeses” from your prospect around the value of your product. If you have the prospect agreeing with the value for money your product offers it makes the financial objection difficult to use without them contradicting themselves. You can then of course remind them of what they have agreed to if they do object for financial reasons. Be Tough!
I’m not sure if I will use it
Prior to meeting with your prospect you would have qualified them on the telephone or during your needs analysis at the start of the presentation. This is a great time to determine their need for your product. Whether it’s a cold or hot lead the prospect has expressed interest in your product, ask your prospect to talk about how your product can change their lives, how it will fit in and how it will help. Ensure that they are aware that they are agreeing that the product will be of use to them, once again it makes it hard for the prospect to contradict themselves.
I need to think about it
This is a tricky one, during a sales presentation every base should be covered, including the prospect qualified for their buying ability and need of your product. If ever faced with this objection I would strongly suggest it’s a delaying tactic. It may well be that you need to leave your prospect on their own for 10 minutes, perhaps offer them a coffee, some people generally do need some time to process information before making a decision. What is important is that you ask what it is they have to think about. This question can stump the prospect and will usually lead to another of the objections, which as an expert sales person you would have already tackled.
I need to talk to my partner
This is an objection that only arises if the sales person hasn’t ensured that the decision makers are present. I always tell my sales consultants to ensure that the decision maker is in front of them, otherwise this could potentially double your work (having to present to the decision maker at a later date) and it always delays the buying process. If, however, you do find yourself faced with this objection I would recommend that you either offer the use of the telephone for the prospect to make a call, or suggest delaying the presentation until the decision maker is there. If you are pressed to go ahead, and you want to try and close the prospect today, ask them how their partner would feel if they didn’t take you up on your offer.
I want to look at your competitors
There are two ways around this objection, the first is the feel, felt and found solution. Make your prospect understand that you know how they feel, tell them that other buyers have felt the same and to cap up tell them that they have found that they come back to you and wish they had done it sooner. You are able to use the feel, felt and found solution with any objection, it shows understanding and empathy.
The second method is to ask your prospect what they wish to find with your competitors that they haven’t found with you, ie what’s missing. A great salesperson will know their competitors inside out and know how their product matches up, so you can be ready to advise your prospect on comparison. What the prospect may be checking for is price, which turns the objection into a price objection.
Whatever line of business you are in you are likely to come up against an objection at some time, the key is overcoming an objection BEFORE it arises. It’s a tricky art to perfect but every seasoned sales person prides themselves on how they handle objections and see it as an exciting part of the job.