As many experienced sales people know, the toughest aspect of any sales position is overcoming a buyer’s objections. Mostly all sales calls are met with at least one objection. Your goal as a sales person is to have a convincing response to these roadblocks standing between you and that buyer. The best way to do that is to be prepared. That is why we are going to talk about the 3 most common objections and what they really mean.
- I want to think about it.
- We’ve spent our budget.
- I have to talk it over with my partner (wife, lawyer, account, manager, etc.)
Now what they really mean:
- Doesn’t have the money.
- Has the money, but is too darn cheap to spend it and doesn’t see the value.
- Doesn’t have authority to spend over budget, or without someone else’s financial approval.
- Can’t decide on his or her own.
- Thinks he can get a better deal elsewhere.
You can overcome any objection perfectly, but only if you find the real objections. That is your first order of business. If you don’t find out what the real objective is you will be shaking your head and wondering why the sale hasn’t happen.
When you get an objection you must determine that it is true and the only one. Qualifying the objection and overcoming it are of equal importance. Unfortunately, some sales people are not able to get to the true objection and are not ready to overcome these objections. The reason this happens is due to:
- They lack the technical (product) knowledge.
- They lack the sales tools.
- They lack the sales knowledge.
- They lack the self-confidence.
- They have not prepared in advance.
- Their presentation is lacking.
Or it could be a combination of the above. For me when I start getting objections…that is when the fun began, especially when I was prepared. Be prepared, listen to what the buyer is saying, and be creative and think outside the box for the right answers.
When I call on clients to sell the Cyber Foto Share Kiosk, I was always getting the objection of it wasn’t in their budget at this time. But what they were really saying was: This is a high technology product and they were not sure it was going to work for them. They never thought branding their product through social media was important. This was a new marketing avenue that they haven’t used before. But once I showed them the data on how it could be a game changer for their marketing with branding and gave them ideals on how they could expand their marketing due to the contact information they would receive, they were more prepared then to make the sale. They even loved me more when I gave them suggestions of getting one of their vendors to be a sponsor for the product, so they didn’t have any out of pocket expense. A win, win situation for the buyer.
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