As you look to set and achieve big sales and revenue goals for 2021, one concern that may arise with your sales team is how to handle common sales objections.
Typical sales objections include:
- “Your services cost too much”
- “I’m okay with the way things are working right now”
- “It’s too risky to change the way we’ve been doing things for the last number of years”
- “We are too busy to take this on right now”
…and the list goes on!
Whether you have been in sales for a few months or a few decades, there’s a good chance you’ve heard some or all of these sales objections at least once. But these objections don’t always have to end with a “no.” If you know how to handle them, you can transform their concerns into reasons they’re even more excited to buy your service or product.
Tips for Handling Sales Objections
Handling sales objections such as these can become the primary obstacle preventing your business from achieving new and ambitious sales targets. Understanding what is stopping your potential customer from purchasing your product or service and then having a plan to tackle the specific objection will help you close the next deal.
Use this four-step model to handling objections below to ensure you are on the right track in 2021 and beyond.
1) Active Listening
This is the first and most important step to understand exactly what type of sales objection you are encountering. Is the issue one of price, complacency, timing, trust, or fear of change? Listen to first understand what the objection is before formulating a plan to overcome it.
Suspend judgment during your conversation with your prospect. Ideally, you want to get to the bottom of what their primary challenges and sales objections are at this time. Ask clarifying questions (open-ended questions used to probe and gain further understanding) and don’t interrupt during their response.
(Empathy can help you connect not only with your employees or fellow team members but also with your customers. Take a look at this post next to learn more about forming these connections: Communication for Everyone – How to Connect with External and Internal Customers)
After you have listened carefully to your prospects’ challenges with the proceeding and have asked the right questions, it is okay to tolerate silence as you reflect on what the next steps may be. You may also paraphrase some of their responses to confirm you understand their situation and what their unique goals and challenges are.
Your response must focus on the unique value of your products and services that the customer will not be able to receive from any other provider.
Ask yourself: How is your product or service remarkable or superior to your competitors?
Summarize the benefits and strongest needs based on the challenges of the prospect and confidently propose a realistic next step.
(Of course, the way you respond will relate directly to your communication style. In this post, we cover helpful information about identifying different communication styles in sales and service)
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Did you learn a lot about handling sales objections in this post?
Here are three more posts to read next:
- 4 Ways Difficult Customers Are an Asset to Your Business
- 5 Steps to Resolving Customer Conflict & Managing Upset Customers
- Setting Effective Sales Goals with The Rule of 5
This post about sales objections was first published in 2015, but it was updated in 2021 just for you.