While pitching your product to a prospect, you could be met with a resounding rejection. Objections are always a hard pill to swallow. But, these don’t mean a complete no. Overcoming sales objections is a skill and you also can develop it.
It means to respond in a way that changes the prospect’s mind to convert into a customer. Overcoming sales objection means when a prospect explicitly states concerns about a product or service and the salesman provides ways of how to alleviate it and helps the deal to move forward.
When you pitch your products or services to prospects, some knee-jerk objections are thrown from the buyer’s side. This means that the buyer is interested in the product. This helps you in overcoming those objections and helps you to jump straight into a genuine conversation. When in the end, you're discussing the pricing situation, you can capitalize on the opportunity that the prospect is fully involved.
When you get further into the sales process, objections from the buyers become more specific. This lets you understand what is going on in your prospects’ heads. If they are not specific in some places, you can easily adapt and overcome those.
Objections are an opportunity to delve deeper into the conversation and add more value to it. You can start your reply to their objections by “Help me understand what you mean by.....”. This helps you get a feeling for where they are going and add value, additional facts, etc. Buyers object to ask for clarification and this is your chance to align with the buyer and take the conversation further.
Through your prospect’s objections, you can understand whether he/she is willing to purchase your product or not. There are genuine objections and then there are brush-offs. Figure out if your prospects are even going to pen a check. If not, it's better to not waste time on them.
Now, let's discuss some basic steps on overcoming objections.
Note: Never react defensively to any objections. Train yourself to stay focused on the problem that your prospect is stating and help alleviate them instead of showing any negative emotions.
Overcoming sales objections requires you to fully understand your prospect’s concerns before responding to them. Many a time, prospects don't state in their objections what their prime problems are. There are some underlying issues, that are your job to fully understand and find out. For this, restate their objections to make sure you're on the same page with them. Ask them open-ended questions to skillfully understand the true source of their objections.
Reiterate your prospects’ problems for overcoming sales objections and ask them if you were able to satisfy their concerns. If they are happy with your solution, only then move forward.
Even if they are satisfied with your solution, they might want to take some time to consider purchasing your products or services. However, don't keep them hanging. Set a follow-up meeting shortly so too much time doesn't pass by. You can also follow up on them through emails to make sure you're in touch. The easiest way to do so is by automating your email outreach. OutreachBin is the best solution for this. This software specializes in sending pre-written emails to your prospects along with having amazing email sending features. You can also send automated email sequences through OutreachBin to better perfect your follow-up game.
If you're prospects state that they have an issue with the pricing of the product, it's a value issue. The pricing is seldom an issue when your prospect is sure of the value of your product. So, when your prospects have a pricing problem, provide them with more value and alleviate their pain points to seal the deal.
Now, let's look at some common objections and what you can do to overcome them.
Your prospects might demand personalization of all your products. If it's possible, customize your product as much as possible. If not, make your prospects feel like it's personalized by interacting with them and actively listening. However, if your prospects need something that you're unable to provide, then they are probably not a good fit for you.
These are the easiest kinds of sales objections to handle. That is because it's a straightforward concern, with a relatively easy answer.
This might mean one of two things or both.
What you can do for overcoming objections like these are,
You could handle it like this, “I don't want to waste your time either. Give me 3 minutes to explain my product. If you're interested, I'll provide you with more information. If not, we're going to leave it at that.”
Generally, value issues are disguised as pricing issues. We already explained it.
“ We had a customer with a similar issue. But after purchasing our product, they increased their ROI which they allocated to other parts of their budget.”
Don't go for the elevator speech on this one. Provide a quick summary of your company and your product.
“Were a ____ company that specializes in ____. It would be a pleasure to speak with you about your revenue model and see how we can help”.
Listen to them carefully and understand why it isn't an issue for them or is of low priority. This problem can also be an excuse to rationalize their inaction. In that case, work on it and instill a sense of urgency in them.
“ Thank you for sharing this with me. We’ll look into it. While we're on the phone, can I help you with ___?”
This can be crucial as it's tough to make your prospect understand that he/she is heard. In that case, rephrase what your prospect’s prime concerns and pain points are and state your impression of it. A lot of misunderstandings can be avoided simply by restating your prospect's pain points.
“I'm extremely sorry. Let me restate my understanding of your issues and help me realize if I'm missing something. Is that alright?”
Objections can be a hard blow on your confidence if you don't think of them as an opportunity, but a rejection. One of the major points of overcoming sales objections is to get back up no matter how many times you're pinned down. Remember, objections are inevitable when it comes to sales. So, learn to overcome them instead of being afraid.