Be it B2B sales or any other negotiation deals, objections are inevitable. Overcoming objections is a skill to be mastered for converting reluctant customers to committed customers.
Objections in sales and negotiation can arise due to various reasons during the decision making process. These apprehensions can arise due to budget, timing, trust or certain doubts about the product.
Overcoming these objections not only paves a way to closing deals but also proves clarity to the client so that he is committed to move forward with the deal.
A relevant read: 10 Sales KPIs That Every Team Should Track and Why
Types of sales objections you may encounter
- Price objection: When your clients thinks that the price you are offering is either too high or out of their budget, they can raise an objection.
For eg. I can’t afford this product right now.
- Timing objection: When your customer thinks that it’s not the right time for him to buy the product.
For eg. I would want to wait till next financial year.
- Need objection: When the prospect believes that the product or service you are offering won’t help them or solve their problem in the long run, in such case they may raise a need objection.
For eg. This is not something we would need right now.
- Authority objection: When the customer you are dealing with doesn’t have authoritative rights, and will have to reach out to their boss for making the final decision.
For eg. I need to consult with my boss/upper management to discuss this.
- Product objection: When the prospect is sceptical about the product or service you are offering or not sure about its working/outcome.
For eg. I have heard mixed reviews about this product and not sure if this will help us.
- Trust objection: Trust is one of the biggest aspect of customer relationships. Sometimes, it may happen that your client doesn’t trust your delivery due to a few negative past experiences. You need to ensure that you always deliver what you claim.
For eg. I am not sure if I can trust your organization due to delay in last project.
Recommended read: The Psychology of Sales: Unlocking the Science Behind B2B Success 2024
Ways of overcoming objections in sales
- Listen attentively: Active listening is a highly important skill that not only helps you understand your customer’s concern but also keep an eye on their body language. Instead of being worried about the objections raised by them, be curious to know what they want to say.
For instance, if your prospect says “The product is too costly for them”, you may use active listening techniques such as confirm or paraphrase to know what are their expectations.
- Anticipate concerns: A correct way to identify sales objections is even before your prospect raises them. One of the biggest difference between a good sales representative and great sales representative is that the latter foresees the sales objections so that they can take them up with the client during the meetup.
You can use business intelligence tools to understand the past behavioural patterns and statistics.
- Ask open-ended questions: Asking right questions at the right time can solve majority of the problems. If you are raising questions that can be answered in a mere “Yes” or “No”, you will never be able to get to the root of the objection.
For eg. Can you tell us what’s holding you back from buying this product or service?
Can you tell us more about your use cases so that we can help you understand our pricing structure?
- Reformulate the sales objection: To give your prospect a new perspective, you may use How Might We (HMW) framework to come up with robust brainstorming solutions by analysing customer’s needs in detail.
For eg. If your prospect says that the product your company is offering doesn’t meet all their needs, you can ask HMW questions to understand their requirements. In such a way, both the parties will not only reach a logical consensus but also target long term gains.
- Provide them social proof: People often trust word of mouth, experiences and testimonials.
Suppose you visit a new place and travel city’ landmarks. After, you decide to take a break at a good restaurant. However, you see two restaurants across the street where one of them is aloof while the other one has a queue outside it.
You will definitely choose the second restaurant here because of its social proof which doubles your trust in it.
Therefore, it’s always advisable to have testimonials on your website to motivate your prospect to collaborate with you.
- Offer a trial service: In a few cases where word of mouth doesn’t suffice to sell your product or service, a trial or demonstration can do wonders. You can offer a trial for 30 days and give a refund if the product doesn’t meet the customer’s expectations.A hands-on trial will build customer’s confidence in your product and reduce uncertainty.
- Be positive: Maintaining positive is a big step towards overcoming objections. Positive attitude fosters trust and confidence. Negative attitude often creates tension and discourages client.
Replace phrases like “I can’t” to “Let’s do this” or “Let’s explore this together”.
If you are struggling with sales objections, our expert Sales Coaching programs can help your sales professionals master objection handling, negotiation, and closing deals with confidence. Let’s Talk!
Conclusion
On the whole, it’s important to understand that a “No” is not always the final answer.
Every objection is taking you one step forward towards understanding your clients deeper and strengthening your relationship further. Every rejection is taking you closer towards your next “Yes”.
