This is the twenty third in a series of articles for e-learning for Advanced Sales Training for IT and High-Tech Sales
#salesconversation #salesstrategy #salestraining #salesskills #handlingobjections #closing #elearning
Sales Strategy – Sales Conversation: The Art of Answering Objections
Introduction
In the world of sales, handling objections is an art form. It requires not just understanding the product or service you're offering, but also a deep appreciation of your customer's concerns and perspectives. The key to mastering this art lies in knowing what not to do, as well as the steps to effectively address and resolve objections.
What Not to Do
1. Make the person feel foolish: Avoid responses that belittle the customer's concerns, such as "You don't understand" or "That point doesn't make sense."
2. Score Points: Presenting overly complex solutions that only specialists understand can be more alienating than helpful.
3. Argue: Direct disagreement like "I don’t agree" or "that’s not accurate" can turn a constructive conversation into a confrontation.
4. Pounce: Interrupting the customer or responding while they are still speaking can be perceived as disrespectful.
5. Be glib: Avoid giving the impression that you're brushing off their concerns with rehearsed answers.
Effective Strategies for Handling Objections
1. Pause: Take a moment before responding to show that you're considering the objection seriously.
2. Clarify: Repeat back or rephrase the objection, or ask questions for more details to ensure you've understood the concern correctly.
3. Appreciate: Acknowledge the customer's perspective with responses like "I understand why you raise that issue."
4. Answer: Provide information specifically tailored to the customer's needs, role, and responsibilities.
5. Confirm: Ensure that your response has satisfactorily addressed the customer's concern.
6. Move-on: Once the objection is resolved, and if appropriate, steer the conversation back towards closing the sale.
Common Objections and Sample Responses
Objection: Hidden / Delay
- "I’ll think about it."
o Response: "I appreciate this is an important decision, Mr. Smith. What part of our proposal concerns you?"
- "I just need time."
o Response: "You seem to have some doubts. Is there something I haven’t covered clearly?"
Objection: Misunderstanding
- "I am worried about sales training for the new product line."
o Response: "Just to clarify, Mr. Smith, are you keen on having your sales team trained for this product line? It’s part of our standard support services, and we already have a sales training program for this product."
Objection: Money, Authority, Need (MAN)
- "I’ll have to check with the Sales Director."
o Response: Does that mean you're happy with our proposals and will recommend them?” If there's any hesitation, “What might be preventing you from doing so?"
Objection: Risk
- "It’s a big risk for us taking on a new product set like this."
o Response "Are you concerned about the product being untested? Let me provide some examples of successful implementations and arrange for you to talk with those clients."
Objection: Price
- "We can’t go ahead with these prices."
o Response: "Is price your only concern, or are there other aspects we should address first? If it's just price, can you explain your basis for considering our prices too high?"
Developing a Strategy for Each Objection
1. Identify the real concern: Sometimes what's presented as an objection might be masking other underlying issues.
2. Break down complex issues: Simplify the response to make it more digestible and relevant to the customer's context.
3. Offer alternatives: If the original proposal isn’t suitable, propose alternatives that might better align with the customer’s needs.
4. Use references: Provide examples of similar situations where your product or service has successfully met client needs.
5. Revisit the value proposition: Remind the customer of the benefits, savings, and positive impacts your product or service offers.
6. Compare with competitors: If appropriate, compare your offerings with competitors', highlighting your unique selling points (USPs).
Conclusion
Handling objections in sales conversations is a delicate balance between understanding, respect, and persuasion. By avoiding common pitfalls and employing thoughtful, customer-centric strategies, sales professionals can turn objections into opportunities, paving the way for successful outcomes.
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Get in touch roy@3r-creative-solutions.co.uk