What is a sales objection? If you have already worked in sales and marketing, you will know that this refers to basically an objection from any prospect or even a drawback/hesitation which keeps them from signing up for something. Here’s learning more about sales objections and how they can be consummately handled.
What are sales objections?
Before moving onto a list of sales objections, it should be pointed out that a sales objection refers to when any prospect objects to signing up for something or buying something from you. This could be simple avoidance, hesitation or any other drawbacks. Generation of leads is already a challenging task and so is the job of creating enhanced brand awareness. However, there are several objections or challenges thrown by prospects that you will have to face along the entire sales journey.
Sales objection handling requires you to be aware about the categories of specific objections from prospects. These include the following:
- Simply dragging on
How to handle them?
When it comes to overcoming sales objections, there are several tactics that you should keep in mind. Here are some common aspects that you can take a note of-
- When prospects say your product/service is too costly- This objection is different from someone not having the required budget for the purchase. This sales objection should be handled carefully; refrain from defending either your pricing strategy or talking about how competitors are costlier. Rather, talk about the added value you are providing and the benefits for the customer and what he/she gets or the problems he/she can solve.
- When prospects say that they do not have an adequate budget- In this case, you should try to motivate and encourage your prospect to secure the budget from his/her company, resources, sponsors or build a plan for future implementation when he/she will have the desired budget in place.
- When prospects talk about finding cheaper options elsewhere- This is where you will have to talk about what makes you different from cheaper iterations elsewhere and how you are providing greater value.
- When prospects express unwillingness to agree on a contract- You should highlight clauses which enable getting out of the agreement/contract and overall billing and other details in a transparent manner.
- When prospects talk about being contracted elsewhere- You should be direct and ask the prospect whether he/she wants to get out of the existing relationship and try something new. This will help you formulate your strategy better.
- Happy with someone else- Here, you should ask about how the prospect is benefiting from the competitor in your space. This will help you get the right opening for talking about where you provide greater value.
- When prospects say they’ll get back after talking to their teams- This usually means that the prospect may not be the suitable person to talk with or that he/she is basically procrastinating on the deal. In this scenario, ask to have a discussion with the team members in a bid to connect to the suitable person. This also lets the prospect be the one who found the correct solution.
- When prospects say that they’re not ready yet- Remember that a compelling purpose/reason to sign on the dotted line is what you need to provide. Give them an offer that simply cannot be refused. Urgency can be created with any special offer or discount.
- When prospects ask you to call back after a quarter or two- You should ask what is going to change in the interim period before you call him/her back. This will help you know more about the present priorities of the company/person and the problems they are solving. This may help you pitch a solution right away in some cases.
Keeping sales volumes chugging handsomely
While you already have ample insights to overcome a solid list of sales objections, you should look to keep sales figures chugging along with tools like LeadX. Here, you can encourage and empower everyone in the organization to post warm and hot leads seamlessly on one platform. This applies for partners as well. The leads can be easily passed onto the sales team and progress can be tracked in real-time along with readily available updates.
Deals can be closed together as a team and you can build a stronger sales culture in the organization. Leads are automatically filtered out since people post warm leads on the basis of their personal networks and are incentivized for the same with recognition and rewards. This keeps sales volumes ticking round the year.