One of the hardest things to manage in a sales call is how to respond to objections. It can be difficult to know what to say to a prospect that says “We don’t really need your product” or “It’s a bit pricey for us”. Sure we can just say thank you and hang up, figuring that they are just not interested and there is nothing to be done. But an objection doesn’t mean that it’s a dead deal. That’s where the art of objection handling come in to play.
What is objection handling?
Objection Handling is the way a salesperson handles a prospect’s concerns about a product or service. Objections and concerns are often about price, need, lack of time, or the product itself.
The goal of objection handling is to alleviate the apprehensions a prospects may express and continue pushing the deal towards closing.
Why is it so important to master objection handling?
Objections are an unavoidable obstacle that salespeople have to face. No matter how good of a salesperson you are, and what product you are selling, you are going to encounter prospect objections.
Having some key objection handling strategies in place is very important for successful sales. Knowing how to artfully handle these objections can be the difference in closing or losing the deal.
Objection Handling Techniques
When a customer raises a concern make sure to empathize with them and their feelings. Give them an example of customers that had the same concern before they purchased the product, but ultimately were very satisfied. For example, “I totally understand how you feel. Lots of customers have expressed that concern but once they begin using the product they find that….”
Respond to the objection with a conditional closing. If you can resolve their concern, will they make the purchase. For example, “If I can get you that discount, will you take it today?”.
Take the objection and use it to your advantage. For example “You’re right, it’s not the cheapest product on the market, but it is the only one with…..”.
Instead of denying an objection, justify the objection. If they object to the price, tell them it is a superior product built with the best materials. For example “Yes, the price may be high but each product is meticulously handmade.”.
If they object to the quality, you can say something like “I understand your concerns that the product isn’t the highest quality, but this is how we are able to sell at a much lower cost” .
It’s important to familiarize yourself with common objections and the different techniques to handle them. Practice how you might respond to each type of objection until you become comfortable with each scenario. Once you master objection handling you will find it easier to turn your prospects into real customers.