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Jun 28, 2021 · To help sales reps ease the concerns of potential customers, the members of Forbes Business Development Council offer advice on practical ways to deal with objections without losing the sale.
- 10 Effective Ways To Deal With Customer Objections And Make ...
To help, 10 members of Forbes Business Development Council...
- 10 Effective Ways To Deal With Customer Objections And Make ...
- What Is Objection Handling?
- Why Is Objection Handling Important?
- What Are The Main Types of Objections?
- 7 Steps to Perfect Objection Handling
- Improve Your Objection Handling Today
Objection handling is how a seller addresses a prospect’s concerns about purchasing a product or service during the sales process, often related to timing, price, or stakeholder buy-in. We commonly think of objections surfacing after the sales pitch, but they can happen as early as a cold call and as late in the process as contract negotiations.
Without objection handling, deal opportunities (and, ultimately, revenue) would disappear at the first mention of a concern or problem. When reps are trained to handle objections successfully, it’s more likely that deals will continue to move through the pipeline and close. It’s also critical for building trust and long-term relationships: “An obje...
While customers may object for many reasons, here are the most common ones: 1. Limited resources: “We don’t have budget for this.” 2. Insufficient buy-in from stakeholders: “I need to check with a decision maker.” 3. Competitor: “Another company has a better solution.” 4. Redundancy: “We already have a solution in place for this.” 5. Bad timing: “T...
The steps below work for all of the common objections. I’ve used them for years, and they always deliver. Start by uncovering key motivations and hurdles for your prospect, then dive deeper with the right questions to uncover their “why.” Pair this with gratitude and empathy to show you’re committed to finding a way forward. When you know their uni...
Successful objection handling is easier said than done. But at the end of the day, it’s about putting the customer first. Take it from Dini Metha, a former chief revenue officer with 15 years of experience: “Be a person before being a salesperson.” In other words, focus on making a genuine connection. That wins out every time.
- It’s too expensive. Pricing objections are some of the most common—and trickiest to handle. When someone says your offer is too expensive, what they’re really saying is that they don’t think it’s worth the investment.
- This isn’t a priority right now. Oof. You probably hear this one all the time. What the lead is really saying is that they don’t even want to consider purchasing what you’re selling.
- My boss won’t approve this. Are you getting blocked by someone who isn’t even the decision-maker? You need to win them over so that they’ll help you sell your solution to the person who can approve it.
- We don’t have the budget for this. This is similar to other price objections, but it has a slightly different flavor. When someone says this, they’re probably interested in what you sell and think the price is right, but they just don’t have the money to invest in it right now (or they think they don’t).
- Leslie Ye
- "It's too expensive." Price objections are the most common type of objection and are even voiced by prospects who have every intention of buying. Beware — the moment you start focusing on price as a selling point, you reduce yourself to a transactional middleman.
- "There's no money." It could be that your prospect's business simply isn't big enough or generating enough cash right now to afford a product like yours.
- "We don't have any budget left this year." A variation of the "no money" objection, what your prospect's telling you here is that they're having cash flow issues.
- "We need to use that budget somewhere else." Prospects sometimes try to earmark resources for other uses. It's your job to make your product/service a priority that deserves budget allocation now.
- “It’s too expensive.” Note that this objection is not the same as “We don’t have the budget.” Your response to this objection puts you in 1 of 2 positions
- “We don’t have the budget.” Remember that you’re in this conversation for a reason: Your prospect has a pressing issue that your offering can solve. Their problem needs an eventual solution, and waiting to find that solution will only prolong their pain — and could even make it more severe.
- “I can get a cheaper version somewhere else.” This objection requires a bit of detective work. There are a few explanations and it’s important to find out what you’re dealing with.
- “We’re being downsized/bought out.” Unfortunately, this objection usually means the end of the road. If your prospect no longer has a business, then you no longer have a deal.
Sep 6, 2024 · Contact Centre Insights. Published: September 6, 2024. Anwesha Roy. You’re on a call with a potential customer, and just when you think you’ve nailed the pitch, they hit you with an objection. What do you do? In the high-stakes world of customer interactions, objections are a daily occurrence.
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May 30, 2019 · To help, 10 members of Forbes Business Development Council weigh in on the best way to handle common customer concerns and how to turn those objections into a sale.
