Overcome Sales Objections Like a Pro
You’ve been building rapport with a prospect for weeks, and now you’re hoping to close the deal. Instead of being met with curiosity, they offer up an objection. Don’t stress! Objections are a blessing in disguise, as long as you know how to approach them.
What is a sales objection?
Objections are any given reason why a prospect isn’t interested in buying a product or service being offered to them at that moment in time. As sales individuals, it’s essential to understand how to work around an objection and close a deal.
Understand the reasoning
Prospects don’t make decisions in a vacuum. If you can get to the root of their purchase hesitation, you may be able to overcome that objection and win the deal.
Objections fall into four categories:
- Lack of Budget
- Lack of Trust
- Lack of Need
- Lack of Urgency
Let’s take a moment to break down these objections and how you can overcome them.
Lack of Budget
It’s common in sales to get hit with, “It’s too expensive” or, “It’s out of our price range.” Don’t panic! These statements may result from a prospect not truly understanding how your service can benefit their company. Take this opportunity to introduce a conversation of cost versus value. Let them know how investing in your service can assist in growth. While they may not immediately say yes, they can now see where their investment is going and lead to them working with you in the future.
Another scenario you may face is those who genuinely don’t have the budget, but are genuinely interested in pursuing your service. Take the time to understand their situation and make plans to meet at a point in the future where you can revisit the idea.
Lack of Trust
Everyone prefers working with people or organizations that they know and trust. If you’re a new name, chances are prospects have doubts about the services you can provide and may be quick to shut you down. Don’t give up! Instead, use this opportunity to build rapport.
Some things to remember:
- Go back to basics.
Now is not the time to dive into every possible service you’re offering. Start by having a genuine conversation to establish a relationship with a prospect. From there, you can slowly ease into the services you offer that best align with their needs.
2. Emphasize your abilities
Just because you are a new name doesn’t mean you’re incapable. Now that you have their attention, let them know how your services align best to provide adequate solutions for their company. Deliver your pitch with authority to let them know you’re a strong contender.
Lack of Need
Ever been told, “I don’t see how this can help me,” in some way or another? There are times where prospects believe no problem exists in the company; therefore, they aren’t interested in your services. Instead of just informing them about your service, make them care.
Here are some ways to adjust your pitch:
- Focus on results.
Even though it’s tempting to share about every individual aspect of the process, in this case, just cut to the chase. Being direct about the benefit of your product (as opposed to expounding on its features) will increase the likelihood of a reluctant prospect seeing the benefit of your offering.
2. Use industry knowledge.
Credibility matters! Make sure you’ve done your research and include findings in your big pitch. Include specific information that is relevant to a prospect to get their attention.
Lack of Urgency
Pain points left unsolved can lead to future issues. If you’re met with “[X problem] isn’t important to me right now,” get to the bottom of why. A prospect can either be simply brushing you off or there could be a genuine timing issue.
One way to determine this difference is by asking about competing priorities or why that specific problem isn’t a concern. From there, find a way to prioritize the importance of the main issue and create a sense of urgency.
If you still run into roadblocks, consider reconnecting later at a strategic point where the problem you’re solving will be at the forefront. Selling sales coaching? Check in at the end of the quarter and see if they hit their quotas. Selling HVAC repair services? Check in as the weather starts warming up.
Objections can become disheartening, but remember to keep a positive attitude and power through. You never know when you’ll find a dream prospect. If you need some extra assistance, don’t hesitate to reach out! Our SDR team is here to help!