Sales objections can be tough to overcome, but with the right strategy, you can turn them into opportunities. I remember when I was first starting out in sales, I would get so nervous when a prospect raised an objection. But over time, I’ve learned that objections are actually a good thing. They’re an opportunity to build trust and rapport with the prospect, and to show them that you’re the best person for the job. There are seven types of sales objections: price, product quality, features and benefits, timing, competition, budget constraints, and risk.
In this blog post, we’ll take a look at each one of these types of sales objections and how you can overcome them.
How to Handle Different Types of Sales Objections
No matter what type of objections you get, it’s important to be prepared for them.
Ignorance can be very expensive, so it’s best to be prepared for any objections that may come your way.
Here are three reasons why properly handling objections can be so important to your customers.
- When you encounter any objection, make a note of it, and this will help you come up with good responses for next time.
- Listen to any objections to your call as they might lead you to realize who you should be talking to. With this, you can figure out what you need to know to make the right decisions.
- By allowing your prospects to voice their objections, you avoid wasting time on nontargeted customers who won’t end up buying your product. This helps you increase your close rate and provides you with insights that can improve the product.
Don’t forget that an objection to your offer is not a NO. It is simply a roadblock that can slow you down if you let it.
Common Sales Objections Based on Price
Price is the most common sales objection that prospects have.
No matter how much a prospect wants to buy, they will always find a way to complain about the price.
Can you blame prospects for wanting to get their money’s worth? We all want to make sure we’re getting a good deal. But you shouldn’t give away your product or offer significant discounts to all of your customers.
Common Sales Objections Based on Competitors
If you are in the sales cycle with a potential client, chances are that they are shopping for a solution and speaking to a few of your competitors, too. They might even already have a system in place!
These customers have already gone through the buying process before. They might have had a bad experience with your business, or already have a working relationship with another company.
Common Sales Objections Based on Resources
Your potential customer can only handle so many tasks in a single day. If their workload is already full, they may say that they don’t have time for you.
It’s important to remember when reaching out to your prospect that they have other priorities.
Common Sales Objections Based on Timing
“Time is of the essence.”
Whoever said this never worked as a sales rep. Most of your sales prospects will tell you that it’s not the right time.
Unfortunately, there is no perfect time for a prospect to call you back. So when your prospect pushes back because of scheduling, you’ll have a ready response.
Common Sales Objections Based on Product Value
If a prospect isn’t understanding what you’re telling them, they will most likely dismiss it or give up. You have to go out of your way to help them understand exactly what you’re offering and how it will benefit them.
Your prospect may try and tell you that your offer isn’t right for them, or that it doesn’t do what they want it to. While these are fairly common, they can be harder to overcome than most.
Common Sales Objections When Prospects Are Dragging Their Feet
You know, that thing on your to-do list you’ve been putting off for like, weeks? That thing that’s probably gonna have to get done at some point, but you’d rather not deal with it?
The thing that gives you a sense of dread in the pit of your stomach is something you know you should just get started on or get over with.
Even though we know we’ll feel great when we cross it off our list of things to do, we seem to always put it off.
These responses are akin to that feeling of rejection.
You’re like a pesky nightmare that won’t end. But, there is a bright side – you can use that to your benefit! You can show your customer how their life will be so much better when they take the necessary action to cross this off their to-do list.
When in Doubt, Remember Your ABCs
If you sell anything at all, you’ll face questions and objections to your pitch. Your response to these sales obstacles often determines whether or not your prospect buys from you.
“Always be selling” is a phrase that you’ll hear a lot in sales. While it’s a cute saying, it’s unrealistic.
The sales process isn’t always linear, and there are times when you’re not sure how to respond to a potential customer.
If that’s your approach, remember that there’s a different kind of ABC: Always Be Closing.
What Are The 4 Types of Objections?
The four types of objections are factual, emotional, logical, and value-based.
Factual objections are based on incorrect information or a misunderstanding of the facts.
Emotional objections are based on feelings or personal biases.
Logical objections are based on flawed reasoning or inconsistency in the argument.
Value-based objections are based on different priorities or values than those of the person making the argument.
What Are The 7 Methods of Answering Objections?
The seven methods of answering objections are:
- Agree with the objection
- Disagree with the objection
- Acknowledge the objection
- Reframe the objection
- Ask a question
- Tell a story
Conclusion
If you’re able to effectively overcome the different types of sales objections, you’ll be well on your way to closing more deals. Remember, objections are an opportunity to build trust and rapport with the prospect. So don’t be afraid of them, embrace them!
