Objections and rejections are common challenges that salespeople face almost on a daily basis. The idea of losing a deal is stressful but with the right attitude, it’s not impossible to move past objections and turn it into acceptance. The question is, how do you overcome objections from customers?
Doubt is a product of objections. Facing objections here and there impact self-esteem and with that, doubt sets in. Salespeople tend to question their decisions, deviate from their prepared pitch, and start seeing their numbers drop. Before knowing how to overcome it, you must first know the types of objections that you’ll likely face in the field.
Types of objections
This kind of objection is related to the product and its performance. The prospect/buyer may have not understood the full function of a product and decide that they don’t want it or need it. Listening is the key here, it is imperative to listen intently to the prospects’ concern about the product. It would be good to emphasize the products’ warranties, use testimonials, and get them involved using product demonstration.
Price is a common objection factor. It is difficult to address the problem if you don’t know what it is. You may be offering a different solution when the real cause of the objection is the price. Sales representatives must always be prepared with price objection and to learn how to negotiate. People don’t often have price objections when they see the value. Value is the determinant of the price, if you are able to bring in value, they will be willing to pay for the product’s true cost.
Many salespeople believe that cutting the price ensures a sale, however, this mindset only derails the product’s value. Reducing the price is not an answer to price objection.
Money objection, otherwise known as a budget objection, is closely tied with the price objection. This type is related to the prospects’ financial capability to make the purchase. This objection can be avoided with proper qualifying. Not every interested person can be the target market, qualifying is important so as to avoid wasting resources, time, and effort.
This is more of a stall, a pause, rather than an objection. It happens when the prospects aren’t entirely comfortable with you and the product. It is a signal that you need to put more effort into building the relationship between you and the prospect. The prospects are interested but they’re not completely committed to making the purchase yet. Do not hesitate to ask questions to know the type of objection you are facing. You can only address the issue if you know their specific reason for saying ‘no’.
Mindset is an important factor to overcome objections. At the end of the day, every objection is a learning opportunity. It’s best to explore the details of the experience and evaluate what went wrong and what went right. An objection isn’t personal, it’s not about you as the sales representative, most often, it is related to the buyer’s side.
When prospects object/reject you, don’t reject them back. They may have objected today but you can still change their mind and make them see the value. Aim to keep the conversation going and keep building relationships. It is important to be persistent and to focus on the positive side. One loss may equate to hundreds of wins.
When prospects are sharing their concerns, your job is to listen and understand. Do not respond right away and avoid interrupting them while they’re speaking. Give them the space to voice out their concerns and objections freely.
Repeat what you hear
Once they’re done speaking out their objections, repeat what they said to ensure that you understood what they meant. It also shows how attentive you are to the conversation. Prospects feel valued which is an important factor when building trust.
An unaddressed objection is detrimental to a sales process. The longer the buyer holds a negative opinion, the harder it becomes for the sales rep to change his/her mind. Instead of cowering due to objection, welcome it and proactively address it.
The goal is to address objections and respond to them. Even then, when prospects are adamant and their objections turn into NO, it’s also good to let it go and come back to it at a later time. Salespeople don’t push prospects to buy, rather, salespeople motivate prospects to see the value.