How to Overcome 7 Classic Sales Objection and Stop Losing Money on the Table
How many times does it happen? You go on a sales call with all the intentions to close the deal but every time your prospect raises an objection, you feel stuck. You try your best to handle it in the correct manner but most of the time you mess up and end up losing the sale.
Objections being raised in a sales call is a good thing. It shows the prospect is interested and is actively listening. But If you can’t overcome these objections in the right way, it can soon become a nightmare.
Every objection is different and you don’t need to rote a response for everyone, because you simply can’t. The better option is to prepare for the most common one and be ready to face anyone.
That’s why today, I’ve put together some of the most common sales objections that you get to hear in every other sales call, and an easy way to overcome them.
Overcoming Objection #1: Your Price Is Too High.
This is non-arguably the most common sales objection ever. If you’re selling anything above $10, chances are that you’ve heard it at least one time.
Digital Marketers struggle with this all the time. The challenge is that once you hear “Your price is too high,” you’re already in deep trouble.
When it comes to overcoming objections in sales, objections about price are the most dire.
That’s because they mean you haven’t shown enough value throughout the sales process to justify the price of your product or service.
The first & most simple solution to overcome this is avoiding it in the first place. You can do this by showing enough value in the sales call that when you reveal your prices, they’re already justified in your client’s mind.
But if still the objection arises, even after trying to avoid it. You can easily overcome it by asking “Is it the question of price or value”. If they say its price, you can say “Okay, we understand finances can be a challenge sometimes, and we always do our best to work with people in this scenario.”
“How can we make this possible for you?”, and then discuss the ways you can do it. Maybe break the amount into several payments over the next 3 months or anything that you & your clients agree on.
But if the client says its a matter of value and they don’t see the value in your product/service. Then you can try to explain them again with added benefits but most of the time, it’ll not work.
Because once a client has made up his mind that what you’re offering isn’t worth it. Rarely they will change their mind. So, in that case, its in the better interest of both you & him to leave that sale there.
Overcoming Objection #2: This Isn’t A Good Time.
Generally when you’ll hear this isn’t a good time, it’ll be followed up by “I’ll get back to you” or something along those lines . Both of them are unacceptable objections.
Depending on when you hear this objection in the sales process, your response will be different.
If you hear “This isn’t a good time” later on in the sales process, it means you either haven’t done a good job asking questions to understand the importance of the decision to the prospect, or you’ve failed to convince them of your value, so they can make a decision.
You can answer this objection with a counter-question. Ask, “What makes a good time?”. And then go on to discover what it is for them. What you’ll find out is most of the time, they will have no good answer.
If their reason is really genuine, then you shouldn’t bother them trying to force the deal. But if it’s just another excuse, you can say, “Mr. Prospect, the reason you’re giving doesn’t seem something genuine to me, I feel there is something else that is stopping you, you can freely tell me and we can discuss that.”
Overcoming Objection #3: You Should Discuss This With My Director Of Sales.
We’ve all heard some version of this. We’ve all called high up at an organisation and had a conversation with a high-level prospect, only to hear, “You know what, this actually isn’t a good conversation for me. You should really talk to my employee or my director of ______.”
The only way to overcome objections like this is to avoid them in the first place. Do enough research in the organisation and make sure that you’re talking to the decision maker.
Overcoming Objection #4: Send Me Some More Information.
When it comes to overcoming objections, this is one of the most common blow-offs that digital marketers get from their prospects.
If you’ve gotten this objection, it means that leading up to that point, the prospect has not seen enough value to make a decision right now. It also means you didn’t do a good job finding out their pain points.
When you hear send me more information, your response should be- “Okay… I can send you all the information that you need but can I know what exactly do you want, so I don’t send irrelevant information?”, “Tell me more about what you wanna know?”, keep getting into the details.
Let me tell you a secret here, most of the time prospects say send me more info, it means I’m not interested and I don’t see a reason why I should give you more of my time.
So when you get into the details, your goal isn’t to know what they want but to change the topic and keep the conversation going. This way you can prevent them to brush you off so easily.
Overcoming Objections #5: We Don’t Have The Budget.
We’ve all been there at some stage, right? When a prospect says, “We don’t have the budget,” You get that sinking feeling. If you’re getting to this point, one of two things are happening.
Either you’re talking to a prospect who is too low-level to really have access to the budget, or you haven’t shown the prospect enough value up until that point in the conversation.
When your clients say this, you should reply- “Alright, so you don’t have enough money to afford this, is that correct?”
“Okay, do you think this is something you need, and you see the value but budget is the only constraint?”
“So how can we make this possible for you?”. And find out how you can work it out.
Overcoming Objections #6: I’d Like To Think This Over.
If you are having this one then think-it-overs are really painful aren’t they?
Sometimes, they’re reasonable, such as when the decision is important and the prospect needs to discuss it with their board of directors as part of their typical decision-making process.
In that case, you just want to be sure to schedule a clear next step in the form of a phone call or a meeting and book it in while on the phone so there is commitment.
But if there is no such reason for it. Say, “What is that we haven’t discussed that you still need to think about? That is why I give time on these calls. I’m here right now to help you make an empowered decision. While you still have me on the phone here, what questions or concerns do you still have unanswered?”
Overcoming Objections #7: I Need To Run This By Some Other People.
If you hear this objection, and you weren’t expecting it, then you really messed up. You should always know the ins and outs of your prospect’s decision-making process before you ever present a solution.
During the discovery process, ask questions like, “What’s your decision-making process typically like for this kind of decision?”
Make sure you understand who is involved and how many people need to be included in the decision. That way, before you give your presentation or pitch, you can make sure everyone who needs to be included can be present.
This can help you avoid someone saying, “That presentation was great! But I still have to run it by my boss and three of my co-workers.”
Time waster right? Always try and get that decision maker on that phone call otherwise reschedule and tell them it wouldn’t be fair to be talking about key decisions on the growth of the business without the decision maker being present.
Conclude it by saying I want you both on the call because you are both as important to the decisions that will be/might be made. (They don’t feel left out then)
There you have it Digital Marketers. Now you know 7 proven tips to overcoming objections in your sales calls that you hear constantly so go and clean up the cash you left on the sales floor.