Objections during a sales pitch happen all the time and they are not necessarily bad things in the world of sales. If your prospect has an objection, it means you have their attention.
They are listening to what you’re saying. They are interested in being involved in the buying process and their objections are a way to make sure what you’re selling to them is worth it. So, how do you use their objections to move your sale forward? Here are some tips:
Overcoming “No”
When you’re hit with the, “No, we’re happy with what we have now,” line after pitching your heart out, don’t let that be the end of the road. Find out the “why” behind your prospect’s thought process and give them a reason to believe the product you’re selling will make their life easier.
Why are they happy with what they currently use?
What aspects about the product that they use now are reflected in the product you’re selling?
What extra capabilities can you offer?
Push the sale ahead by listing benefits others have seen by using your product.
Be the “Better Deal”
If a prospect says they can’t go forward with the deal you discussed because the price is too high, most likely they’re bluffing. It might be that other terms of the deal aren’t good enough anymore, but know these are things that can probably be worked on together. Before you think about reducing your price (which you shouldn’t), ask if your product or service is still a priority for their company. When they say yes, you have a chance to shift the conversation to how to make the sale happen. Is timing the issue? Perhaps offer a quicker delivery or flexible payment terms as long as they order by a certain date.
Make Sure Approval is Within Reach
A lot of the time, the prospect you’re directly selling to might not have the authority to say yes. Be prepared for this objection and get the decision makers involved. See if they’ll be available for the sales pitch or a future follow-up meeting. If they are unable to join you and your prospect, develop a plan to ensure you still make progress in your meeting. Keeping the decision makers in the loop is essential during the sales process, so get ahead and stifle the “approval gag.”
Remember, objections should work in your favor when you’re prepared for them. When handled correctly, you’re proving to your prospect that what you’re selling will make their company more competitive and profitable.