12 Mar Five Reasons Why It Is Better to Welcome Sales Objections Than To Avoid Them!
Objections are the single most valuable tool in a smart salesperson’s toolbox because they provide incredibly valuable insights…and because most competitors have been taught to fight them off with canned responses. Low sales performers tend to ignore them. By discovering how to properly honor and handle objections, you will be able to close sales more easily and with less tension and stress on either side of the transaction.
There are five important reasons why objections help you close the sale:
1. They tell the salesperson precisely what needs to be done to close this sale. : “Your price is too high” signals that the buyer is not convinced that your proposal has demonstrated greater value to them than the competition. The solution is for the salesperson to address this perception;
2. They give the salesperson a chance to understand what may not have done well during the sales process. If the buyer states “we see no material differences between your proposal than that of your competitor” it means that the salesperson has done a poor job of differentiating her offering;
3. When the prospect vocalizes objections it reduces the likelihood of being ambushed by a “hidden” objection at the eleventh hour;
4. Objections are similar to track hurdles. They do not stop the runner, but the runner must plan for them and understand how to get by them; and
5. Objections sometimes will indicate who has the most influence in the decision making process. If the objections by one person are ignored by the group and another is given greater weight it could be because the latter has greater power in the decision process. This is valuable information that may not otherwise be apparent.
Once the salesperson receives an objection the buyer should first be thanked for voicing it. We should then validate, not attack, their opinion, by saying something like “I understand your concern.” Next restate the objection in your own words to make sure you understood it correctly. “You have expressed concern that you are unfamiliar with our company. O.K. Let’s discuss how we can alleviate your concern.” The salesperson can decide to how to address the objections either with the entire group or “one or one”, depending on how it is best handled.
The objection is how the prospect feels; Do not be defensive. And, above all, do not attack or argue with the person that voiced the objection.
If the buyer is not ready to buy perhaps we did not properly qualify the prospect and we have been wasting our time. If that is the case it is time to cut our losses.
If the buyer had not voiced these objections we would not have had the opportunity to properly respond. How is that good? We would have wallowed in ignorance and only been able to close the sale through blind luck, not salesmanship.
By discussing objections, openly without being defensive, you enable the prospect to hand you the strategy to use to close the sale. The prospect is entitled to their opinions and they need to be respected. Tell me everything – what you like and more importantly, what you do not like. It is much easier for me to determine what I need to do to close the sale if I have this critical information.