Sales objections are a litmus test whether you are prepared or unprepared for selling. Objections in sales language is commonly known as HOT POTATO. Your prospects hands you a HOT POTATO err objections and the solution is how swiftly you hand it back to him so that he can make a purchasing decision?
There are many HOT POTATOS and few of the COMMON OBJECTIONS would be
- I don’t have the budget
- I don’t have time
- I need to talk it over with someone
- I am not interested
- I am already working with someone
- Send me some more information and so on and on..
What is your formula for addressing the sales objections? I would say there are two kinds of conversation that you have to deal with
- One that goes on in your customers mind such as it won’t work; I don’t have the budget; It’s too hard; It easier to do nothing; let me check with my neighbor and so on and on.
- Second when he verbalizes it i.e during Mutual verbal communications
And for the conversation that goes in your customers mind you can be PROACTIVE to reduce resultant verbal objections and your simple solution is PREPARATION PREPARATION & PREPARATION. Effectively use
- Referrals : Ask your existing customer to talk to your prospect.
- Proof: Show him the testimonials – video or text testimonials
- Story: Learn to tell success stories
- POC : Proof of concept – let them try and buy
- Creative: Be creative to kindle keen desire in your prospects mind for your products & services.
Verbal Objection are when they are out from your prospects mouth. Follow a simple process as such
- Acknowledge to neutralize: If prospect says its too expensive. Just nod and say ok
- Confirm or Clarify: Ask is that the only objection he has so that he stops adding other objections later during the process.
- Question to uncover: You can handle it in two ways. One is throw back the potato and ask why do you says that ? why do you feel that and why do you see that and get the real objection out? Second could be Mr Customer if I can address the money issue when you can sign the cheque. This is to be handled very adroitly else customer might believe that you are trying to corner him.
- Reposition: Tell him “ I believe I have failed” failed to deliver the right message. Let me show you the …… or Give me 10 minutes to show you through the ROI, Statistics, Presentation? Other solution; compare with lost opportunity, same spend or similar spend. And finally
- Ask: Ask for the order again
Enjoy handling objections. Because when customers says “No; he means NOT YET.”