Like it or lump it, the word ‘no' is part and parcel of working in sales.
No matter how many times you hear it from a prospect, it doesn't always get easier. It often leads to panic and you've lost your lead forever.
Nobody wants to listen to someone who won't take no for an answer... it's not a good look and it will never end in success. (We know this from personal experience, unfortunately).
But if you take a step back and try to understand why your prospect is giving you these mountains to climb, you'll reach the summit one way or another.
That's why we've put together some of the biggest obstacles sales people face in their conversations, and how they can be avoided or overcome.
Understand the objection
When it comes to sales objections, it’s easy to fall into the trap of focusing on what your prospect has just said rather than what they actually mean.
Their initial objection isn’t usually the real reason for a prospect to say “no”.
The harsh truth is, they’re looking for the quickest way to shut down the conversation and get you off the phone. But hey, we’re in sales! People objecting to our cold calls isn’t breaking news.
So don’t panic. You just need to figure out to get to the bottom of their true objection.
A good place to start is by listening and acknowledging their opinions. You should make it clear that you understand where they’re coming from and reinforce how their feelings are valid.
Better yet, rephrase their concerns to confirm how you are paying attention and continue to ask questions.
It might seem a bit pushy, but if you come from a genuine place of interest, you’ll be able to figure out what their objection is and ensure you understand any underlying issues.
You might even discover that they don’t really know why this proposition doesn’t feel right. But that’s your job to figure it out.
By asking open questions, you’ll dive into a deeper understanding of what the real problem was in the first place. At the end of the day, if you don’t know what the issue is, how can you help?
What’s the motivation?
If we’re being honest, most clients don’t have a desperate need for your product/ service. It’s more of a want. Something that they believe will boost their existing business process.
So when a salesperson comes along acting as if their solution is an all-singing, all-dancing, life-saving piece of kit, it won’t go down too well.
Therefore instead of focusing on the great aspects of your business, understand what motivates your prospect.
What challenges are they currently facing? What’s valuable to them? What does success look like for their business or job role?
While it’s hard to not sing about how amazing the service you’re selling is, the reality is that your customers simply don’t care.
What they care about is how you offer a solution for a problem they face personally, and more importantly, are you worth it?
Listen and learn
This is an obvious one, but it’s important.
When you’re in the moment of a good pitch and a prospect offers an objection, it’s hard to resist the urge to dive in and tell them why they’re wrong.
And while you might be right, this is not how you win friends and influence people.
Instead of jumping on the defensive, take a minute to listen and learn. They might divulge what their objective is without asking, or they might mention another issue you hadn’t yet considered.
Once you’ve understood this, you can start to acknowledge their concerns. Letting them know how you agree and understand, you’ll create a sense of empathy and trust rather than resistance.
So now you know how to understand sales objections, let’s take a look at the most common obstacles and how to get around them.
“We don’t have the budget.”
If you had a penny for every time you’ve heard this I bet you could give them the budget yourself…
It’s a common one, and it’s hard to argue with. But not all is lost.
Investigate into what types of tools or services they are currently paying for, then you can focus on the value of your investment instead.
For example, with CANDDi, we can focus on how we’re a turnkey website tracking tool. We offer an onsite tracking solution alongside CRM integration and digital marketing plugins. If prospects are using one or two of these tools, CANDDi can easily replace them.
It’s not always that they don’t have the cash outright, they just don’t want to waste it. Prove your ROI.
“It’s too expensive.”
This is usually code for one of two things…
They either don’t understand what your product or service is and how they can measure it, or they just don’t trust your predicted results.
So, how do you navigate this?
Your best bet is to guide them towards proven successes through case studies and hard data to show how you can (and have) drive revenue.
Focus on their painpaints too. Are they looking to scale up? Do they want more clients? What does that look like in actual cash?
Once they know that you’re on their side, they’ll be in a better place to make an informed decision.
“We can’t commit the time or resources.”
In most cases, this is due to an underlying issue. But whatever it is they’re facing, you need to show you’re confident you can alleviate the pressure and that your solution is worthwhile.
Start by showing you understand their struggle. Then, share how your service aligns with their existing business process. You want to show them your solution will save time or money, not cost them more.
“We’re already using a competitor.”
Believe it or not, this is actually one of the easiest objectives to overcome.
There are of course a few approaches that might work, depending on which of your competitors they’re on about.
If this isn’t a direct competitor (for example, you share common features or they’re complimentary to your service) share a feature comparison between the two. This is usually best if you have one on your own site, but there are other options available through the likes of Capterra.
If it’s a direct competitor, you should point out where your KPIs land for their specific needs.
The important part of all this is keeping it honest. If there’s another solution that offers more features, or maybe a better fit, then say so. But focus on the positives.
Maybe yours is easier to use which means higher adoption rates. Or is it cheaper and delivers better ROI in the long run?
Honesty is always the best policy.
Overcoming objections is key to closing deals, so hopefully, these tried-and-tested tips will help you move prospects past their fears and get them over the line.
One final tip — once you overcome an objective, make sure you have a clear idea of when you can get back in touch. Following up is crucial as it can solidify your solution as the right choice.
If you need help better understanding your leads, why not give CANDDi a go for 30-days completely free? Register here.