Sales Objections and How to Overcome Them

Sales Objections and How to Overcome Them

Jun,2019 By Smarty Software Knowledge Base

Yes, “the word "no" can be a tough pill to swallow” and no one likes being told “no.” However, for anyone within the sales profession, handling objections is an irreversible truth. It is no secret that addressing client objections and closing the sale are two of the foremost tough aspects of a salesperson’s job. In fact, the ability to execute these functions effectively can make or break careers.

These challenges are commonly shared pain points, as a great deal of veteran sales reps grasps, most sales calls are met with at least one objection. Consistent with analysis collected by HubSpot, more than 36% of those who surveyed said closing the sale is the toughest part of a sales process, whereas 40% stated prospecting.

At the same time, as all things are difficult before they are easy, it is not a complicated job to do if you learn the skills and create a sales plan to guide you through the process. Often the key is to understand what is stopping your potential buyers from making a decision in your favour and be prepared for it. Once you recognised the reasons why they are hesitating, you will be able to reply promptly to those specific objections.
Read this article to find out how you can overcome sales objections and close more deals. We have gathered the most common sales objections alongside with guidance to overcome each obstacle. You will face these sales objections during the selling process; thus learn how you can overcome them all.


Author: Reza Bakhtiary, Smarty Software
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Most Common Types of Objections

Sales objections come in many different classes. Buyers all have distinct challenges, business desires and long-term goals, which suggests the sales reps must be flexible with their approach and adapt to buyer’s queries, concerns and refusals accordingly. Generally, objections tend to fall in these five common types, regardless of the products or services you offer:


Price

Regardless of whom you are targeting, the lack of money and budget is one of the most common objections to a sale. According to a survey, 35% of sales reps consider pricing objections to be the biggest challenge they face. Using the price as an objection point might mean your buyer does not have enough budget, but it might also mean they simply don't grasp the value of what you offer or how they can benefit from it.

Many sales reps tend to immediately offer a discount or a lower price, which brings more doubt and uncertainty to the buyers and raises questions about their product’s value. Instead of that, you should use creative ways to convince the buyers that your product or service is worth the value. One of the ways is to help them justify the cost. You can focus on the unique features of what you offer or try to break down your total cost into smaller amounts. Either way, you should clarify the client what they are paying for and what they get in return.

Authority

This is of the easiest objections to handle and is not an objection at its nature at the same time. It is simply a prompt to be redirected to the person in charge. After you have qualified a lead, your job is to be connected with the decision-makers. Then there is another chance to show them their pain point and the ways you can help them to overcome their challenges.

Sometimes the prospect state that they need to run this by their family or friends. This can often be a good sign, assuming the client is truly consulting with others and not just using it as an excuse. The way to close them is to follow up and stay in the process. You can try to arrange joint sales meetings between your sales team and the client in order to address any question or queries.

Need/Complacency

Complacency, or an actual fear of change, can lead many potential buyers to dismiss a product before they have learned what it can do for them and their business. Remember that sometimes complacency is the result of being totally informed about the challenges and solutions. Therefore, if a potential customer seems complacent, you will need to take the extra time to either describe their pain points and priorities or uncover their real concerns and challenges.

Once you learned about their challenges, use that to offer solutions based on the outcome of using your products or services. You can share some facts about the competitors and some of the changes they have made in their businesses or use your previous customers’ testimonials.

Time

Buyers sometimes do not realise the full impact and value of your solution. Objection with time simply means your prospect is not ready to buy just yet. Therefore, you should demonstrate why now is the best to make the purchase and keep them in the sales process by scheduling follow up activities.

Head back to your past interactions up to this point and your overall experience with this prospect. See if they show genuine interest so far or they are just overloaded with their tasks. Try to schedule a short meeting with them or offer them a demonstration of what you offer and its impacts on the business.

Trust

Trust is something that takes time to build. Buyers may feel uncertain about you, your solution, or your company. In this case, buyers may have the need and want to address it, but they don’t believe that you can achieve or deliver what you say you will. They might be concerned simply by the fact that the offer is coming from your company for a few different reasons.

Therefore, you need to be honest and consistent across the board to overcome the objection. Be forthcoming with case studies, customer success stories information and references that will take away some of the uncertainty. Give the prospect the confidence in your ability to get the job done by showing them the true results of what they will achieve if they decide to buy from you.


Overcoming Sales Objections Process

Next time that your buyer indicates that he is not ready to buy, follow this simple but powerful process to overcome objections, move the sale along and close the deal. With these four steps, you are more likely to earn the trust of the buyer in order to resolve their issues and proceed with your services or deals.


Listen to the Objection

When you hear an objection, your first reaction may be to jump right in to address the objection immediately. You want to immediately overcome it and move forward with the close. If you react too early, you might risk making assumptions about the objection reason.  
Instead of responding immediately teach yourself to stay focused on what the buyer is saying and the business problem you are helping to solve. Take the time to understand the buyer's concerns and grasp the issue. Sometimes you may find that their first objection is not the real problem after all.

Understand the Objection

Always pursue to understand the objection reason. Many objections hide underlying issues that the buyer cannot or is not ready to enunciate. As I mentioned before, often the real problem is not what the buyer first tells you. It is your job to get to the heart of the objection, and then fully grasp it and its true nature.
In order to do this, you must take the liberty to realise and explore the issue. Once explored, restate the concern, as you understand it. Sometimes when you restate the objection, the buyer sees the issue quite more and as a result, you will get closer to the true source of the objection.

Respond Promptly

After you are confident that you uncovered and grasped all objections and concerns, the best way to proceed is to first talk the buyer through the most important one and try to solve the issue as immediate as possible. The more quickly you resolve the issue, the greater chance you have of moving the deal forward. When you solve the main issue, not only you gain the customer’s trust but also often, other concerns may no longer matter or feel as important to them.

Sometimes an objection is needed to look into. In this case, let them know regarding the following steps you must take and when the problem will be solved. Try to keep your responses clear and to the point and remember to do not let any objection fall through the cracks or linger longer than necessary.

Confirm You've Satisfied the Objection

Once you responded to the buyer's objections, ask the buyer if they are satisfied with solutions. Do not assume this one as well. Just because they pretend to agree with all your responses does not indicate they mean it. Ask if the buyer is happy with your solution or if there are any other concerns.
If the objections require a process to overcome, schedule another time to continue the discussion. Do not move forward until you are certain that all concerns have been addressed.

Objections are an unavoidable part of sales. Of course, some objections are legit reasons to step away, while others are simply an attempt to avoid speaking with you. You should be familiar with all types of common objections and equipped to answer them; only in that way, you can distinguish between potentially serious customers and those that are not worth pursuing.

The next time you are faced with an objection, use the steps above to listen, understand, respond, and confirm. Use these tips and you will not only overcome objections but also you will also strengthen your relationships with buyers and win more deals.


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