First, let’s start with a baseline to planning for possible objections. The key is to listen to your prospect and understand their objection. Once you uncover the root for their objection you can move the conversation forward and work to gain control of the call. Next let’s look at some common root causes for objections:
* Lack of knowledge: “We don’t need a mobile solution”
* Specific, Warranted concern: “Your price is higher than others I’ve seen”
* Hidden agenda: The prospect has a preference for a different product but will not say this to you
* Perception issue: “The cloud isn’t secure”
* Not clear about interests: “This isn’t a priority for me this year”
Take each of these common objections and write an example specific to your business. Come up with the solution for each of the examples and have them ready before your next sales call. Here are some of the top tactics for handling objections:
Express Your Gratitude
Let them know that you are thankful that they brought this objection to your attention. Your prospect could have given you a flat out “no” and put a complete stop to your sale. Instead they are sharing information with you and allowing you to address their concerns and earn the ability to move forward with your prospect.
Showing your prospect that you are empathetic to their objection helps you to connect with them on a more personal level as well showing them that you are listening to them and care about their outcome. When you empathize with your prospect they’ll be much more likely to open up and share more. Showing empathy does not mean you need to succumb to the objection. Let them know that you are sorry that they feel that way and you understand how frustrating that can be and make sure to offer a solution that you believe can help them.
Discover What’s Really Going On
Once you have started to diffuse the situation you can start asking questions to discover what is really going on. Make sure to ask open ended questions. You want to give your prospect the ability to give you information that can help you uncover the objection. If your question can be answered with a simple yes or no than rephrase it.
Ask, Probe, Confirm
Keep the conversation flowing and go further into your questioning. Once you start receiving answers to your open-ended questions ask additional questions about what they had just said. Take your time and continue asking questions until you fully understand the reasoning behind their objection. Finally, restate what you heard and ask for them to confirm that you understood correctly.
Continually Show Value
In order to make the sale and to retain your customers you must show them the value of your service. The purpose of all the steps above is to find out what is important to them and what their business would be like without your product or service. After you uncover pain points your next step would be to quantify the issue both in business and personal terms so your prospect can fully understand what your product would be bringing them and why it is worth the investment. If your prospect continues to object then you are not asking the right questions and you will need to rework them.
Back It Up
While you are proving the value of your product or service to your prospect make sure you are backing it up with industry research, customer references, or customer success stories. Cultivate the data that is out there about your industry or product and make a plan to incorporate it into your conversations. Also make sure to have at least three customer references in your objection arsenal. These stories represent overcoming pain and objections with great success. They also make you more reputable and build trust in your product.
Make a Plan
Handling objections requires practice and that all starts with a plan. Take the time to chart out possible objections as well as your guide to overcoming these objections. Run through possible scenarios with your team to give them confidence in their objection handling skills. A knowledge repository is essential to make sure that your sales reps have access to all of your up to date collateral. Once your team gets this process implemented you’ll be sure to see an increase in your closing ratio.