Objections are the most common challenges found in the world of selling. It is important to note that every sales rep has been in a position where they have faced an objection.
And the underlying truth is that many find it hard to believe that objections are opportunities to a salesperson if he or she has the ability to turn them into positive opportunities. Buyers becoming more discerning than ever and the importance of mastering the art of combating sales objections has become pivotal to sales.
Below are the 6 Most Common Prospect Objections faced by Salespeople and learn how you can overcome these :-
1. We’re just exploring our options at this time
Prospects would usually turn you down this way making you believe like you have caught them while they’re still in the educational phase of their buying process. It will be like too early for them to make a decision.
A great salesperson would then give more than ten reasons why his products might be of great benefit for the prospects and why they need to act today and now.
By doing this, you have let the prospect know that you’re primarily concerned about their problems not just the sale. Your questions are not about speeding up a purchase or even related to your specific service. Instead, you’re asking them what they want to learn.
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2. We don’t have any money
Prospects usually object this way if they have not seen the value in your product yet and this usually comes at the beginning of your first sales conversation, in which case your prospect is just trying to blow you off. Sometimes the price of the product will be too high in the prospect’s view.
Overcome this by just showing your prospect the value of the product with illustrations as well as its potential benefits. If possible show the customer how expensive products are the most durable ones compared to cheap products of the competitor’s.
3. We’re not ready to make a decision today
To a smart salesperson this objection means they still need more information. It could also signify that your prospect is waiting to hear back from competing vendors so as to make a comparison before paying.
Go through this by asking the prospects everything he/she needs to know. Take this opportunity to explore why your product is better than that of the competitor’s.
If you’re in a competitive situation, ask what points of vendor differentiation your prospect is examining, and provide resources that show why your offering is the best option. If they simply need more information, dig deeper to the area they’re still uncertain about.
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4. Is this your best price?
Prospects usually say this when asking for a price discount before buying the product. Your prospect wants to know if there are any levers they can pull to get you to lower your price.
Overcome this by either either giving a discount or hold firm explaining further why your product is priced the way it is for a reason, so don’t give away the store!
5. Just send me some information
This kind of an objection sometimes come at the end of your call, after you’ve gone through both your value prop and qualification, the prospect may have decided this isn’t valuable somewhere along the way or is too expensive.
Overcome this objection by asking questions to the prospects where clarity is needed do that so he/she better understands how you may help with your product.
You may convince the prospect that people find it more valuable to see how this works in a demo. Hence the prospect’s presence matters a lot and in one way or the other you may get the prospect’s attention.
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6. Call me back next quarter
In general this means that prospects are busy as they will be pushing anything off to tomorrow because today is swamped.
A smart salesperson don’t let them do that! You have a solution they needed yesterday, tomorrow and forever. Reassure them that this is not a buying conversation. You just want to show them what you do, and see if there’s value for them.
Top salespeople are very patient and they keep on improving their skills, knowledge along with following up the leads. As a salesperson you can overcome these common 6 objections, which you face on daily basis, by learning from the tips, within them, to overcome these to beat competition and to have success in selling.