Handling the Inevitable Objections

Do me a favor and think of a time where someone agreed with everything you had to say; it’s never happened, has it? Objections from potential customers are a commonplace, the same way that we argue with our friends and family over where to have dinner – there are pros and cons to every decision we have to make. Objections, in the context of a sales role, typically range from price concerns to doubts about product features or timing issues. However, a skilled salesperson can turn objections into opportunities by employing effective strategies to address and overcome them. So, today, we’re going to explore various techniques to handle objections in sales, emphasizing the importance of active listening, empathy, and problem-solving. Then, we’ll look at an example that I was trained with in my first sales job.

Understanding Objections

Before delving into handling objections, we first must take some time to truly comprehend their nature. Objections often stem from underlying concerns or uncertainties in the true value of a product or service that prevent a prospect from making a purchasing decision. For buyers that are accountable to a larger organization, there is no such thing as a small purchasing decision. Therefore, you should expect the buyer to have some reservations about saying yes without first checking all the boxes. In fact, you should be more concerned if the buyer is not objecting to anything that you say. The reasons behind objections may vary, but they typically fall into four categories: cost, value, trust, and need. When the buyer objects to your proposition, you can tailor your response to address the specific objections effectively, templating your response based on the category it falls into.

Active Listening and Empathy

I’ve talked about it before, but similarly to every other part of sales, you can only truly understand your buyer’s objection through active listening. When a prospect voices concerns, a salesperson must be listening attentively and avoid interrupting, giving the buyer all the time they need to voice their concerns and explain their reasoning. Like building rapport, by demonstrating genuine interest in the prospect’s thoughts and feelings, the salesperson establishes trust – a feeling that becomes extremely important in this situation. Additionally, showing empathy helps the prospect feel understood and valued, paving the way for a more constructive conversation. Marrying these two skills together will allow you to turn an objection into stronger belief and buy-in from your buyer, increasing your chances of closing the sale.

Addressing Objections

Acknowledging the Objection

Acknowledging the prospect’s objection is the first step towards building rapport and creating a positive atmosphere for the conversation. The salesperson should respond with empathy and understanding, validating the prospect’s concerns. Avoiding dismissive or defensive language is crucial at this stage. Instead, respond with phrases like:

• “I appreciate you sharing your concern with me.”
• “Thank you for bringing this up; it’s essential to address any worries you may have.”
• “I can understand how [objection] could be a concern for you.”

Clarifying the Objection

To address the objection effectively, the salesperson needs to gain a comprehensive understanding of the prospect’s concerns. This can be achieved by asking open-ended questions that encourage the prospect to elaborate on their thoughts and feelings. Examples of clarifying questions include:

• “Could you tell me more about what specifically concerns you about [objection]?”
• “How would overcoming [objection] make a difference for you or your team?”
• “In your ideal scenario, what would you like to see addressed regarding [objection]?”

Offering Value Propositions

After understanding the objection, you can present the specific value propositions that directly address the prospect’s needs and concerns. It’s essential to tailor the response to match the prospect’s unique situation. Some effective approaches include:

• Feature-Benefit Match: Highlight the features of the product or service that directly solve the prospect’s pain points. Explain how these features translate into tangible benefits for the prospect or their business.
• Return on Investment (ROI): Demonstrate how the product’s benefits outweigh its cost in the long run. Use data and statistics to show the potential savings or increased revenue that can result from using the product.
• Competitive Advantages: Showcase what sets your product apart from competitors and how those differentiators align with the prospect’s needs and preferences.

Providing Social Proof

Social proof can significantly influence a prospect’s decision-making process. It involves sharing evidence of the product’s success and positive impact on other customers. The salesperson can leverage the following types of social proof:

• Testimonials: Feature testimonials from satisfied customers who have overcome similar objections and experienced positive outcomes with the product.
• Case Studies: Share in-depth case studies that highlight real-life success stories, detailing how the product resolved specific challenges.
• Industry Recognition: Mention any awards or recognition the product has received, indicating its credibility and effectiveness.

Offering Solutions

In some cases, a prospect’s objection may be based on a genuine drawback of the product or service. In such situations, the salesperson should be prepared to offer alternative solutions that meet the prospect’s needs while overcoming the objection. These solutions may include:

• Customization: Propose customization options that cater to the prospect’s specific requirements, demonstrating the product’s flexibility.
• Add-Ons or Bundles: Suggest add-ons or bundled packages that address the objection and provide additional value to the prospect.
• Future Enhancements: Discuss upcoming product updates or enhancements that are in the pipeline and will address the objection.

Handling Price Concerns

Price objections are one of the most common challenges in sales. This could be a whole separate lesson on its own, however, to get you started, when a prospect expresses concerns about the price, you can respond with the following strategies that have helped me continue the conversation:

• Value Justification: Emphasize the product’s unique value and benefits, explaining how the investment aligns with the prospect’s long-term goals.
• Payment Options: Offer flexible payment plans or financing options that make the product more accessible and manageable for the prospect.
• Limited-Time Promotions: Introduce time-sensitive discounts or special offers to create a sense of urgency and incentive for the prospect to make a decision.

Let’s take a look at an example of the strategies in action!

Role-Play: Addressing Price Concerns

Salesperson (S): Good afternoon! I see you’re interested in our premium software package. How can I assist you today?

Prospect (P): Hi! Yes, I’m interested, but the price seems a bit steep for my budget.

S: Thank you for sharing your concern. I understand that investing in quality software is essential, and we want to ensure you get the best value. May I ask, what specific features are most important to you in a software package?

P: Well, I need a program that can handle data analytics efficiently and has a user-friendly interface.

S: That’s great to know! Our premium package is specifically designed to meet those needs. It provides advanced data analytics tools and an intuitive user interface, making it ideal for professionals like you. Additionally, it includes free updates and dedicated customer support.

P: I can see the value, but the price is still a concern.

S: Completely understandable. Many of our customers initially felt the same way, but after using the premium package, they found it significantly improved their productivity and saved them valuable time; here’s a case study that was done by one of our clients after a year of using that package. Furthermore, with our current promotion, you’ll get a 20% discount, which makes it a more cost-effective option.

P: That’s a good discount, but I’m still unsure.

S: I hear you. To help you make an informed decision, how about we set up a trial period for you? You can experience the benefits firsthand without any commitment. During this time, we can schedule a follow-up call to address any further questions or concerns.

P: That sounds fair. I’m willing to give it a try.

It won’t always go that smoothly, but you give yourself the best chance of overcoming any objection through a combination of active listening, empathy, and tailored responses. By acknowledging the prospect’s concerns, offering value propositions, providing social proof, and offering viable solutions, sales professionals can turn objections into opportunities to build trust, overcome hesitations, and ultimately close more deals. Continual practice and refinement of objection-handling skills are essential for sales teams to succeed in the competitive marketplace. With a customer-centric approach, sales professionals can build strong relationships with prospects and turn them into loyal customers.