Picture this. You’re on the phone with a prospect and your sales pitch is going smoothly. They’re responding positively to everything you say and you think you have this sale locked down. Then comes the dreaded objection. They don’t agree with your pricing, your features, or they just simply don’t have the ability to implement your product or service at the moment. But this doesn’t mean that all hope is lost. Rather than getting downtrodden and simply hanging up the call, you can navigate those objections and turn them into opportunities.
Tips for Overcoming Sales Objections
Here are 15 common sales objections and some suggestions for handling them so you can continue to grow your business.
Your Services Cost Too Much
The most common objectives that sales professionals tend to get are about price. Some prospects legitimately don’t understand the value of your product or service, while others who have every intention of buying simply want to see if you’ll offer a better deal. So rather than immediately dropping the price, call attention to the features that add value for them.
We Don’t Have the Budget Space
Another objection that’s related to price, this slight difference does require a slightly different approach. Since it has more to do with the prospect’s own cash flow issues rather than a problem with how they perceive the value of your product or service, you can navigate this issue either by working out an alternative payment plan that allows them to balance their budget in the short and long term or by arranging a time to speak again in the next quarter.
We Don’t Have the Time to Implement This Product/Service
Time is another pressing issue for a lot of potential customers. This can be especially relevant for B2B software companies or those that sell systems that need to be implemented throughout an organization. In these instances, it’s best to give a realistic estimation of how long that product takes based on the experience of past buyers — it may be shorter than they think. It can also help to call their attention to the pain points of their current situation. Perhaps they’re wasting a ton of time by not using your product, so that implementation period can easily be made up in the weeks that follow.
It’s Not the Right Time
Vague brush-offs like this one can be difficult to navigate. Try to segue the conversation into a question about their pain points. Perhaps they don’t have the time to speak right now because their organization isn’t running efficiently, which your product or service could help with. However, it’s also important to read the conversation and know when to stop, so you can reach out to them again later without them having formed a negative opinion of your pushy tactics.
I’ve Never Heard of Your Business
In some cases, a prospect might be interested in what you have to offer, but not necessarily sold on getting it from your business in particular. Without getting into a lengthy explanation, provide some quick and valuable information about your company and why they should trust you. You could share how long you’ve been in business, how many products you’ve sold, or even point them to some testimonials on your website, which they might not even check out but feel better knowing they exist.
Your Product/Service Is Missing an Important Feature
If your product doesn’t have a specific feature that a prospect is looking for, you could try suggesting a complementary product that they could use in conjunction with yours. If it’s easy to implement and less expensive than a more fully featured offering, they might consider. If not, they’re probably just not a good fit.
Your Product/Service Doesn’t Work for Our Business Currently
This objection could be another sign that your offering simply isn’t a good fit for a prospect. However, it is a good opportunity for you to ask questions and find out what features or services the company is looking for, or what they might be looking for in the future. This can help you determine if this lead is still worth pursuing, and could help you create a more beneficial pitch down the road.
I Don’t Understand Your Product/Service
If a prospect simply doesn’t understand what you’re selling, it’s a great opportunity for you to explain it in basic terms. Make sure you frame your explanation in a way that details how the experience will look to them and how it can benefit them, rather than focusing on the technical elements.
I Don’t See the Need for This Product/Service
If they aren’t sold on the need for your product or service, call attention to their current pain points and relate the benefits of your offering directly back to them.
I Don’t Want to Make Any Change
Complacency is a pretty common objection, and one that gives you an opportunity to ask questions. Find out why they’re happy with their current setup and why they’re hesitant to make a change. This could lead to an opening for you to really call attention to how your offering could help with their current pain points.
I Don’t Want to Get Stuck in a Contract
Contracts are a major issue for buyers. They don’t want to get stuck with a product or service if they’re not 100 percent sure they’re going to be satisfied. It can also be a sign of cash flow concerns. So if possible, see if they’d be interested in a month-by-month version of your product or even a trial period, rather than locking them into a full year or whatever your lengthy contract period is.
I’m Locked into a Contract with Another Company
If the prospect is already in agreement on a contract with a competitor, you can try to come up with a creative discount that could help them offset the cost of breaking that contract, or call attention to the ROI of using your product over your competitor’s.
It’s Just Not a Priority Right Now
This objection is an opportunity for you to ask questions about what the prospect’s priorities are. Once you get that information, you could use it to formulate a pitch that positions your product to help with those specific priorities. It can also help to create a sense of urgency by referring back to their specific pain points.
I Can’t Sell This to My Boss/Partner
If the objection is a question of authority within an organization. It suggests that the person you’re speaking to is sold, but the higher-ups won’t be. In this case, see if you can set up a time to speak with them directly. If not, ask the prospect what objections they anticipate so that you can address them.
I Need to Run This By My Partner First
A similar objection with slightly more optimistic outlook, this phrase gives you the opportunity to set up a meeting with that third party or schedule a specific time to get back in touch with the prospect. Ask if they need any information or materials from you if they’ll be reaching out, so you can increase the likelihood of a positive outcome.
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This article, “15 Sales Objections Your Small Business Will Face and How to Handle Them” was first published on Small Business Trends