What are your tips on overcoming objections?
Like everything in sales, it’s important to keep things simple.
So, when it comes to objections, the first thing you need to keep in your mind is that an objection is just a question.
If a prospect raises an objection, what they are telling you is that they don’t fully understand some aspect of your offer. Your job is to determine what information they need to fully answer their question.
This simple approach helps you keep objections in perspective. The tendency is for sales people to get defensive when the prospect raises an objection. However, if you’re just answering a question there’s no need for your emotions to get in your way.
This is great advice Andy!
I agree that in order to understand and be able to overcome objections you need to be able to know where they come from. Knowing your target customer, their pains, and specific needs is essential for achieving that. Don’t try to up- or oversell them something that they don’t need. Their natural reaction will be to back off. Instead listen to them carefully and offer them the solution package that will really be most useful for them. This will not only increase their trust in you and lay the foundation of a stronger relationship, but will also really increase the chances that they are going to buy your product.
Thank you both! Really excited to work on this, those tips are super helpful.
I’d like to offer two tips.
- Keep the objection in perspective vs. over-reacting. Don’t magnify the objection just because you’ve heard it before. Stick to what this one buyer is saying in this one moment. Don’t inflate it by thinking it’s a “no” or a fact. Actually, it’s an invitation to provide more information or to begin some negotiation. The buyer is giving you a clue (or a reminder) about what matters to them, and that’s good information to have!
Example: buyer says “Your price is too high.” That does not mean the answer is “no.” It doesn’t mean that your price is truly too high (no matter how many buyers say so or how much you start to think they’re right because you’re losing sight of the true value). It also does not mean they are only going to buy if you lower the price. It does mean they are price-conscious AND, as Andy Paul pointed out in another comment, it means they are asking for more information about value to justify the price.
- What the buyer is saying might not even be a real objection… could be part of the buying/selling dance & the buyer believes they are supposed to challenge some aspect vs. readily accepting all terms. Here’s how to find out if you’re dealing with a real objection or a smokescreen. You ask a question that states the exact opposite to probe whether this one thing is truly in the way or not. When stating the opposite, you add the word “feel” when it’s an opinion vs. fact – this is to correctly frame the objection and remind the buyer that it’s a feeling and not a fact.
Examples: 1) Buyer says “Your price is too high.” Response is “If you did not feel the price was too high, would you be proceeding with this solution today?” 2) Buyer says “I have a contract with your competitor.” Response is “If you did not have a contract with my competitor, would you be proceeding with this solution today?”
The point of this question is NOT to promise something or to set up your response to the objection. It’s only purpose is to find out if this is the true objection. One of two things will happen next. The buyer will say “Yes, if your price were lower, I’d buy today.” Now you know it’s the only objection, and you will deal with it (preferably by showcasing value vs. reducing price!). OR the buyer will say “No, I wouldn’t proceed because…” And now you’ve got the real objection – good thing you didn’t waste a lot of time and energy overcoming a smokescreen objection and never knowing this one!
Good point, Deb. I think that the one objection I find the hardest to overcome is when people say that they are too busy to implement a new system. How should I be challenging that response?
Thanks for the question, Miranda. Once determining that this is the REAL objection (“If you didn’t feel that there wasn’t enough time to implement, would we be proceeding with this…”), I’d respond in one of these ways, depending on what you sell:
Add up the amount of time it takes to complete tasks without your system (for one person in a typical week, multiplied by all people who spend time that way). Is the amount of time spent on implementation recouped quickly? If so, this is a time investment for a time payoff strategy.
Risk analysis. Without your system, what are the possible costs (financial, security, image, customer loss, etc.)? How do these risks stack up to the time required? It takes time to do anything… but we will invest our time on what is urgent and important. Magnify urgency/importance.
Tackle the perception of amount of time required. Usually, our perceptions are inflated and things take less time than expected. Break down the actual time required into more palatable chunks – ex: “On average, our customers spend just 2 hours per week during the 6-week implementation process. We do the rest.” You can also share best practices for efficiency – delegating this to a team member so the decision maker is less impacted, hiring one of your team members or a third-party to oversee on-site implementation, training a group of “power users” who will train others in the company over time, etc. Explain how other companies have budgeted time/resources for this project.
Hope this helps!
One tip to overcome any objection is taking the time to listen and understand the objection completely. Sometimes a salesperson’s first reaction to an objection is to immediately reply with a counterpoint in hopes of suppressing the prospect’s objection quickly. Doing this can come off as defensive, which could therefore jeopardize the prospect’s confidence in what you’re trying to sell. Keep in mind that any responses that come from emotion are less likely to be successful.
If you take time to listen and fully understand the objection, you will be better equipped to give a proportionate, effective response. With this, your chances of reaching a mutual understanding with your prospect are much greater, and you will be more likely to overcome the objection to make your sale.
I believe preparation is key when it comes to overcoming objections. This is why one of my favorite exercises for sales reps is looking into which types of objections are most common among our customers. This allows you to anticipate to your prospects’ objections. I’ll give a brief overview of what I believe the most common types of objections in any type of sales.
- Price: The most common objection. You must be prepared to show how the value of what you’re selling outweighs the price
- Trust: Sometimes, the prospect simply doesn’t trust the salesperson or their company. Be sure to find ways to emphasize the legitimacy of what you’re selling.
- Authority: At times, a prospect will stall by saying the must check with their manager. A good way to be prepared for situations like these is to research the prospect’s organizational hierarchy beforehand, so you know who will be the most likely to make the decision on the sale.
Being aware of the common types of objections will help you prepare for your next encounter with a prospect.