Encountering objections is a reality from nearly every prospect. Understanding and responding well to objections can be an important step in closing the deal.
- It's easy to freeze up when a prospect brings up a problem with your product, service, or proposal. You can feel like they're not interested. Customers may object for many reasons. They may not understand the value you provide, saying something like, "We already have a CRM solution, "so you probably don't have anything for us," or "We can't use SaaS software "because there are security risks." These concerns are great to unearth because they're implied invitations for further clarification.
You can even connect them to happy customers who might have had the same objection, the perfect reference at the right time. Other objections might be more challenging, such as if your product actually is missing a key feature, in which case you either have an alternative solution and you might agree that the offering isn't a fit. If they say they don't have budget this year or the price is too high though, that's kind of a red herring. The easiest way to get rid a salesperson is to say you can't afford it.
But usually it's code for we don't see enough value to put it into this year's budget, and that conversation is a good one to have. Objections are part of nearly every sales process, but don't panic. Actually, objections presented by the client are a gift for you. It means they're taking the time to consider your offering carefully. Objections actually give you an opportunity to uncover additional requirements that the prospect has and to build a more powerful and valuable proposal.
If they didn't have objections, they probably aren't serious about your offering. In fact, I've seen a lot of salespeople expect a deal to close because the prospect hasn't said a single negative thing in any conversation or raised a concern, and then they're surprised to find that the prospect was never really serious about buying. Many of best clients have had the most questions and concerns leading up to the close of the deal. They ask about my qualifications. They worry that their team might not have the bandwidth to do their part of the project and that their investment will be wasted.
They wonder if they should undertake our project at the same time as they're doing a major software upgrade. They question my ability to complete the work remotely. Most of these objections are not new. I've heard them again and again, often from people who've ended up being great clients. So how do you respond to objections? First, don't be defensive. You want to consider whether there's merit to the concern, acknowledge it, and then address it. Often prospects jump to conclusions without having all the facts.
You might be able to provide additional information to help them deepen their understanding. Here's the thing. The conversations that arise can further build trust and understanding. Don't let your objections throw you off your game. Take the time to understand your prospect's concerns and ask more questions. If you do, you will increase the chances of expanding the benefits for your prospect and for you too.
- A typical day in B2B sales
- Meeting with prospects
- Handling objections
- Closing the deal
- Getting a job in B2B sales
- Building out B2B sales goals and sales teams