[Infographic] 10 Tips To Overcoming Objections In Sales & Closing More Deals
"We really like your product/service, but ..."
The toughest aspect of closing business deals is tackling the points that prospects say after the word 'but'. These words are tough, stubborn and stand between you and the coveted sale --- these are buyer’s objections.
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What Do Objections Mean?
Objections are usually a need for more information. These are factors that stop your sales leads from making a decision in your favor.
Should you be worried?
Absolutely not! Every sales conversation is met with at least one objection. And the moment it is uttered, sales agents tend to become defensive. By doing this, you come off as unprofessional and sometimes incompetent – say bye to that business deal.
What you need to understand about overcoming objections in sales?
Objections are not negative. Nine out of ten times, when sales leads say 'no' it doesn’t mean that they don’t want to use the product or service. Instead, they say 'no' because they don’t have a compelling reason to buy. An objection is a request from the prospect for more information on the product or service. Sometimes the prospect can’t visualize how your product can help them achieve business goals.
It’s your job to focus on providing information based on the needs of your prospect’s business and explain how your product can solve a certain problem or produce a certain result for the business.
Once you recognize what an objection is then you can overcome objections with ease. You should embrace objections, analyze them and reply directly to those specific areas of concern – never ignore objections, always address them.
How Do You Handling Sales Objections?
Potential buyers can have many objections. This can be related to price, functionality, and many more – you name it, there’s an objection for it. These objections can come during the qualification stage of the sale or during the conversion process, they’re always coming up (no escaping).
With this in mind, it’s critical that sales agents understand the most common objections that come up along with best practices on how to overcome objections.
To illustrate this, look at the infographic below courtesy of ConvergeHub. After reading this, you should have a better understanding of how to build your strategy around rebutting objections, close more deals, and increase your sales revenue.
Techniques for Effective Sales Objection Handling
1. Take the objection personally.
2. Interrupt your prospect mid-sentence and rush to overcome the objection.
3. Start your counterpoints with negative words like 'But', 'If' and 'So What'.
4. Use excessive “salesy” words like 'cutting edge', 'innovative', or 'best in class'.
5. Talk about the product and service USPs without relating them to the objections.
6. Become defensive when prospects question the quality and efficiency of the product or service.
7. Assume that the objection is addressed without confirming it from the prospects.
8. Assume that the deal is lost because prospects have voiced an objection.
9. Have a partial or surface-level understanding of the objections.
10. Offer discounts immediately to resolve the monetary objection of the prospects.
1. Show Gratitude. Look at this positively – just another way for you to give your prospect more information. Acknowledge your prospect’s objections and provide the information needed to close the business deal.
2. Understand Your Prospects. Connect with your prospects on a personal level. Listen to their objections carefully. This shows that you value their concerns which helps build trust.
3. Dig Deeper. Ask your prospects open-ended questions to gain more insight into their objections. You have to understand what’s stopping them from buying.
4. Confirm The Objections. Take a note of all the objections and restate them in your own words. Ask your prospect to confirm whether or not you understood all of the points mentioned.
5. Explain Your Unique Value Proposition. Show what sets your business apart from the competition. You should consider the value you’re bringing to your prospect and your prospect’s business.
6. Offer Solutions. Align the features and benefits of your products and services to your prospects' specific pain points. Pain points include things such as lost revenue, low productivity, poor customer satisfaction, etc.
7. Share Customer Success Stories. Share testimonials, case studies and other references. This may help you overcome objections and give prospects complete confidence in your company’s products and services.
8. Be honest. Skip the sales pitch and make fresh, spontaneous and persuasive conversations. These conversations should be relevant to the prospect’s objections and help build a great rapport with them.
9. Proactively Bring Up The Objection. Refer to the CRM to learn the objections you have encountered earlier. Answer them proactively to win the confidence of your prospects.
10. Offer An Incentive. Encourage your prospects to take advantage of your incentive. Depending on your business, this could be a free trial, free shipping, $10 off first purchase, and more. This gives both parties a chance to work together, build trust, and mutual respect.
Impressed with ConvergeHub’s list of techniques for overcoming objections and closing deals?Comment below to share your experience with overcoming objections. What has and hasn’t worked for you?
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Patricia is a full time CRM consultant at ConvergeHub and part-time blogger. She has earned herself quite a fame as a specialist and market expert in CRM software. In the last five year she has worked with various companies as CRM consultant to help them move their businesses to cloud. Her expertise lies in offering cloud CRM consultation, CRM customization and integration solutions to small enterprises. For last one she is engaged in building ConvergeHub, cloud-based CRM solution for SMBs, as a consultant.Follow her at Twitter: @convergehub