Objections are unavoidable. But you should never see them as a failure. Instead, you should take the time to understand why a prospect is objecting to a particular thing. What’s stopping them from committing? And how you can better explain to them what leads to success. Whenever a customer objects during a sales process, it’s important to learn those objections, solve their doubts and present them properly to achieve a better conversion rate.
In this article, we will be looking at what a sales objection is and some tips and strategies to handle sales objections.
What is objection handling?
Objection handling is defined as a way where sales reps handle, respond to, and overcome objections raised by the customer during the sales process. The goal is to solve all the prospect’s problems and move forward in the sales funnel.
An objection is not a full stop of the sales process. Instead, it’s a comma or a roadblock where you have to cross to complete your journey. The objection can be raised anytime on or after the sales process. It’s your responsibility as a sales rep to understand those objections and sales call best practices & bring a solution to them accordingly.
Some of the common types of objections are:
- Price: your customer thinks that the product is too pricey or they don’t have enough money to buy the product.
- Priority: your customer doesn’t know if they need the product right now or is it at all necessary.
- Don’t know enough about the product: your customer doesn’t know enough about the product, so they bring their concern based on a myth or misconception.
- Time: your customer doesn’t have enough time to talk about the deal.
- Irritation: they are simply not interested and don’t like the sales process.
Most of the objections are any one of the five stated causes. If you know how to deal with all these situations, then it will be easy for you to move ahead in the sales process.
Let’s take a deeper look at these objections, along with tips on how to handle them.
Five types of sales objections
Customers often use some of the common issues and reasons while raising their objections. These reasons are related to any one of these things: Price, time, priority, lack of knowledge, and irritation.
Objection 1: Price
While raising price objection, prospects mention that another similar product is available at a lower price. In this case, they are attracted by lower prices. Though your product is itself not a problem, the price is. In this case, you should try to attract their attention towards the unique value that your product offers. Let them know how it’s beneficial and why it’s worth the cost.
Objection 2: Priority
Here, customers will say that they need time to decide or are not ready to buy the product. While they have an interest in your product, they are not prepared to buy it yet. In this situation, you should figure out why they aren’t interested and solve their issue.
Objection 3: Lack of knowledge
Lack of knowledge is one of the common objections raised by the prospects. Here, you should keep a note of slowly going through with your pitch with your prospect and solve questions that they have.
Objection 4: Time
Many times, customers don’t have enough time to do lengthy meetings. They are busy. There, sales reps only have a few seconds to grab busy prospects’ attention. Quickly explain their main features and later set up a follow-up call with a quick question like, ‘When would be a good time to talk with you?’, but make sure not to force them to do anything.
Objection 5: Irritation
No one likes when someone calls them unwanted. People always wonder why they have called them or what they are going to sell now. This leads to frustration. Here, you have to ensure to respond to your prospects professionally and give them a reason to listen to you.
Three tips for handling objections
Let’s take a look at some of the tips and strategies to handle sales objections.
Tip 1: Show them gratitude
Whenever your prospects raise an objection, always say thank you to them for providing you with the opportunity and then start with addressing their queries. After that, ask them if they have any more queries that they want to address. Saying thank you at the start breaks up the ice and makes it easy for prospects to share their worries with you.
Tip 2: Connect with them on a personal level
Connecting with your prospects on a personal level goes a long way. When the customers see that you’re paying attention to them, listening to them, showing them your concern, it becomes easy for them to open up with you. Which also makes it easy to move them further into the personal level.
Tip 3: Show them how valuable your product is
Customers only buy a product when they see a value or benefit attached to it. It’s up to you to show all the benefits of the product to your customer. Let them know what pain points the product solves and tell them what it would be like without their product.
There are different types of objections, and each needs another solution to solve that particular issue. Getting an objection doesn’t mean it’s a no. It means you should take a step ahead and address those objections. Think hard about why a prospect raises those objections, what you can do to solve them and what benefits you can provide, and then you would be able to help them quickly and efficiently.