It is difficult to argue that no one likes to be rejected. However, the sales process is one of the areas where you face countless refusals daily, and you should learn how to handle common sales objections like a pro to make your way up. One of the main things to memorize is — there's no room for personal objections, so you should approach the matter as yet another territory to conquer. Our trained and experienced experts from Belkins will help you grasp the issue completely and win over any competitive situation with the least time and effort involved!
Defining sales objections
Sales professionals brush off prospect objections on a regular basis. Otherwise, generating B2B sales leads would be a much more boring and less effort-involving activity. When you sell a product or service, you should be able to present the offer in the best light. Aside from that, you are bound to convince potential customers that they need what you offer to improve their workflow and build up revenue.
In the B2B sales field, most salespeople are cut off by prospects when the latter object to the proposal. The most common sales objections are as follows:
- I can't afford it.
- I'm using another product or service.
- I don't need it at all.
The mentioned prospect's objections clarify that the competitor's services are in use or that the prospect does not fully realize the necessity of the offer. The task of a profit-oriented sales rep is to skillfully overcome those and bring the lead down the sales funnel.
How vital is objection handling?
Some B2B sales companies have extensive user bases, so losing a single prospect a day may not seem like that grand of a loss. Yet, you should understand the simple fact that no great deal has been signed without at least minor reluctance. Thus, your sales folks will face sales objections all the time. What matters here is how well they handle those. You can always schedule a follow-up call instead of crossing the lead off the list. It may take a potential customer a few months to realize the importance of your services. Yet, if you leave a negative impression after the initial interaction, they may never come around. Thus, the more expertly the team members handle objections, the better. Such an approach will ensure company growth along with a tremendous increase in sales revenue.
Most common sales objections frameworks
When you start focusing on generating more and more B2B sales leads, you need to be fully prepared to fight off all the likely objections. Luckily, the in-depths surveys have already grouped them into four main categories. They are the following:
Once you get familiar with all that a specific sales objection stands for, a way to overcome it will pop up in your head instantly.
One of the most common sales objections surely concerns the price that you are talking about. Even some major companies may pull off the 'we don't have enough resources to afford the service' or 'the price is a lot higher than we expect to spend on the sphere'. However, the recent case studies prove that these sales objections aren't written in stone.
If the decision-maker declares that the price range is out of their league, it means that the company may be interested in the product you are selling. The critical point here is to bring up all the advantages that the campaign can reap with the offer put to use. Most B2B sales companies feature a flexible budget, and you should memorize it. The sales reps who can transparently deliver the benefits of the service in question, explain why they're better than the competitors, and present transparent pricing, are most likely to seal the deal.
It may be a lot easier to find the right prospects to advertise your products to rather than convince the decision-makers to invest in them. If it is a large enterprise that you are interested in selling to, you should be ready to deal with more than one decision-maker. Convincing all of them may be a tiresome and effort involving process. So, you may want to take an effective shortcut – engage with all potential decision-makers to figure out who is responsible for making the final call.
After you point out a single target, it will be a lot easier to rule out all the potential sale objections and lead the deal to its successful closure. Keep in mind that providing the decision-maker with all relevant content is crucial. The more relevant information you can provide – the higher are the chances to close the deal.
Time is always of the essence, and most B2B sales businesses will use it as an objective excuse. The common objection list always includes the following answers in all known variations:
- We have no time for this.
- We need some time to consider your offer.
No matter the way the sales objection is phrased, it's most likely another polite way to end the conversation. While you shouldn't take it personally, yet there's a turn you've made wrong. The reason why a prospect may feel like they have no time for you is that they may miss the problem you can potentially help them solve. Thus, it helps to indicate the pain points your product can take care of effortlessly in a more transparent manner.
Another annoying sales objection (that you will face at one time or another) is the lack of necessity in the field that you represent. No matter how appealing a price you state, the business won't be interested in buying the product since the representatives are confident they're golden without it.
Thus, the natural part that the sales rep has to play is an educational one. What does this mean? This means that it's your responsibility to point out to the potential customer why their company needs the services you sell. It helps to emphasize the areas that the business will grow at and how much easier the whole process along with the team experience will become. All it takes is to touch the crucial pain points, and you'll get yourself a dedicated consumer.
Handling sales objections with effective responses
It's not enough to be aware of the prospect's concerns and potential reasons to say 'no' to you. You need to be able to tell the marketing team and the sales reps how to respond to each potential sales objection.
'Your prices are too high…'
There are cases when a customer can't afford the service, and there's little you can do about it. However, in the majority of cases, large businesses have available budgets to spend on the offer that can help them grow and get ahead of the competition. Thus, the route to pursue, in the first place, is to indicate how cost-effective and profit-oriented your product is. There's no need to bombard the consumer with loads of statistical data, yet if you have something of value in mind – go for it.
Should you realize that the current situation has had a negative toll on the company you're selling to and the management can't afford to invest in your offer at the moment, you should leave them as open-ended questions. This means that you can try to provide the business with any potentially helpful info you have at hand and repeat your sales calls on a regular basis. The supportive approach will help you push another lead down the sales funnel once their situation improves.
'I'm not the decision-maker…'
The sales process is an intricate web with lots of strings to pull. It may happen that the prospect you have reached out to isn't responsible for making the final call. The simplest response to give in such a case is to ask for the contacts of the person responsible for the sector. However, if the rep you're talking to refuses to disclose this information, you can always share the relevant content and resources with them and inquire about transferring those to the decision-maker. All that matters, in this case, is patience, trust, and determination.
'We're using similar services…'
Overcoming sales objections isn't the most pleasant task of all, especially if the prospect claims that they're already exploiting a competitor's offer. However, a well-trained sales rep knows how to use such sales objections to their ultimate benefit. The truth is that there's no such thing as an utterly loyal business relationship. Each enterprise seeks a service that can help it grow and generate more income.
So, the point here would be to disclose the name of the competitor and the term of the contract that is active. After that, all that's left is to spot the weak points of the rival and reach out to the prospect after a while with the same offer but lined with crucial perks that the current relationship lacks.
'Thank you, but we're not interested…'
Cold outreach is one of the critical pillars of a successful sales campaign. However, when you're reaching out to people who haven't been currently involved with your services, it's only natural to hear that they aren't interested in what you sell. The most suitable objection handling in such a case would be to accept the answer but provide the prospect with some information on what you offer and which issues your product is designed to solve. The next logical step would be to initiate contact in a month or two, or even a quarter, to test the waters.
'Your offer is of no use in our case…'
With all the range of B2B sales objections, this one is among the most overrated ones. The fact that a business representative tells you that your service is of no use to them doesn't imply that the real state of affairs corresponds with the assumption. Very often, company representatives don't see the core of the issue their enterprise faces. Thus, they can't gather effective means to solve it.
The best-case scenario is to research your target list and figure out if you've helped a similar business before. In case you did, you should bring the related information to the prospect. Showing a business holder the success that the competitors have reached in the field because of your professional assistance or well-developed product is the best motivator.
Effective practices to handle common sales objections
So far, you have probably come to understand that objections in sales are an inseparable part of the process. Thus, the better you prepare to deal with the notion, the easier it will be to overcome it. Aside from effective responses you can use in the majority of common cases, there are also some approaches that can help you master the art of objection handling.
Compile a database
You have surely worked on your active prospect list already. While some companies call the process a day, others know that there's another database to work on to gain the success they're set on. This would be the sales objections database.
Since your salespeople have to face different objections from day to day, some of them may fall out of the line that you're used to. Thus, a practical approach would be to put these fresh objections down and work on a suitable and practical response to each upcoming objection. You should realize that the user responses will differ, depending on the sphere you represent.
So, as your team grows better familiar with each client's response, they will have a pre-defined guide as to how to handle it in the most professional and profit-oriented way.
Practice makes perfect
Active listening and logging all the objections will make a difference, but there's room for perfecting the approach still. It will help if you ask your reps to practice their objection handling strategies until they are close to being automated.
For instance, once a sales rep hears a common objection, instead of being utterly confused and ready to hang up, the person will tell the prospect about existing case studies and other essential data that may change the opinion as a result.
Aim at a reply
One of the main mistakes that some salespeople make is to leave the prospect be after they hear the common objection. Surely, you shouldn't be pushy or impolite when a customer tells you they are not interested. Yet, to make things clear for yourself, it would help to send a follow-up email. You can ask about the general experience that the company faces, inquire about the upcoming changes, or anything of the sort. Such an approach will help you understand whether the lead is worth pursuing or not. If they leave a reply, the answer is clearly positive, in case they don't – you may think twice whether you should spend your potential in the pointed direction.
Walk away at the right time
You can keep on clarifying questions until you're cornered, but that's not the most successful strategy to develop. Thus, it is essential to be perfectly aware of when you should back away. While there is some room for intuition in the sales industry, you should be willing to read between the lines. No matter how well you handle one objection, the prospect has another coming, and the circle closes. Once you get yourself into a related situation, the chances are that you should better walk away and develop other directions.
4-step strategy to overcome objections
Aside from all the practical methods and responses to overcoming objections, there's room for theory too. The fact is that with all the practical data at hand, you need to find the proper way to approach it and make use of past experiences.
A golden rule that a successful sales rep knows by heart – avoid interrupting. As simple as it may seem, so neglected the rule is. So, once you are on a sales call, and you hear an objection coming, don't try to get ahead of the prospect and reject it.
You should give the speaker a chance to voice any underlying cause or requirement so that you're 100% sure as to which direction to push them. The more insight you generate – the better. In the majority of cases, the primary objection is rarely the case.
There are cases when the sales rep allows the prospect to speak their mind and express the concern without truly understanding the matter. Once the objection has been voiced, it is crucial to get to the core of it and realize what triggered it in the first place. You don't have to be a psychic to understand the hidden issues. All it takes is to use as many 'why' inquiries as possible. You can ask the prospect why do they think so or why they consider the factor crucial, and so on.
You can't be fighting off price objections when the authority one has been proclaimed, can you? Thus, to make your strategy work, you should address the objections you have spotted and understood already. Move from the most important matter to a lesser one, gradually giving a consumer time to digest every bit of information you are providing them with. The critical part here is not to leave any potential objection untreated. Even if you possess little information concerning a certain matter, you should emphasize that you've understood that, and you will get back to the prospect with additional information on it shortly.
Once you provide the user with all the information on how you may help them solve the existing issues and overcome all the objections, you should always confirm that you are on the same page with the consumer. The fact that you provided a possible way out does not necessarily mean that the prospect is utterly satisfied with it.
Another vital point to keep in mind would be to give prospects time to brood upon your offer and possible resolutions. If you keep pushing by deflecting all upcoming objections, a prospect may feel more than defensive, and that puts you, as a sell, into the weak spot.
When is an objection a lost cause?
One of the main factors to realize is that, at times, objections are sold-based, and nothing you say or offer can change that. You can't force a buyer to invest in your service if they don't want to or don't need to. Thus, once you hear the same objection twice or no matter how great your resolutions are, the answer is yet a 'no,' you should accept the outcome with dignity.
Just as simple the sales process seems to those who aren't professionally involved in the sphere, so complicated it is from the inside. Prospect objections are an inseparable part of the sales process, and you need to know how to overcome them professionally to develop and grow your business.
There are both theoretical and practical components of effective objection handling, and thanks to this useful and professional guide, you will be able to overcome them all.
In case you need expert advice, you can always reach out to the Belkins team to get instant assistance!