Simple Ways to Turn Sales Objections into Conversions
Sales objections are a natural part of any sales process. However, it becomes frustrating to business owners or sales professionals when they are unable to handle them well or unsure of validity of these objections.
A positive way of looking at objections is that they open you up to opportunities to fine tune your sales process by the subtle hints of customers on what they are really looking for in your product or service in the guise of an objection.
What are sales objections and why clients raise these?
Sales objections happen when your prospects are not fully convinced of the value you are driving with your solution proposed or could have been already educated about the solution and they are looking for more information to make a decision. In the ideal world when you have qualified (funnel stages) leads better and understood your Ideal Customer Profile, sales objections rarely happen and conversions are swift.
Usually, prospects express strong objections to what you offer when they fall outside of the category of your ideal customer. This means:
- They are not the decision-maker
- They do not have the budget
- They do not need your product or service at the moment
- They see your services as a threat to their own positions
Stop, listen to the objection to analyze the situation.
But when your prospects exhibit the profile of your ideal customers but raise objections, then you can take those as a mere “smokescreen” for more important underlying issues that need to be addressed. Oftentimes, objections also happens when parts of the sales presentation are misrepresented, adding to the prospect’s confusion or a ME too approach, which means following the competition and trying to prove your product or service.
If objections are handled well by adding value to the customer, the result could lead to a long term and profitable & repeatable business.
Top sales objections during the sales process
Sales objections come in many form, but whether a prospect expresses one or ten objections, know that each of those fall under in any of the four main types objections. Narrowing down the objections into 4 main categories will help you in better handling them.
Price objections raised by customers can either be open-ended or close-ended. When they tell you straight up that they can’t afford what you offer, then take that as the truth. It is open-ended when you sense some level of worry to a perceived accompanying risk in the amount of money being asked.
How to handle price objections: Firstly, acknowledge that you understand his price concern and ensure you are not trying to prove why your price is higher. Build value during the course of the sales interaction to establish the greater amount of benefit in what is being offered than the amount of money it costs.
Quality of Service Objection
Prospects have a perceived value on the product or service that you offer. Even if they can afford it, if the perceived value is low then it would be taken as something risky or not worth the investment. If their perceived value is high, they might take it as something that is above and beyond what they actually need, hence overpriced.
How to handle this type of client objection: Provide and present case studies of past clients with similar concerns and establish how you were able to deliver a profitable ROI for the same type of product or service being offered.
Prospects want to do business with solutions providers that have proven track record of success in their field. Some are willing to pay a higher price in lieu of trust and integrity of work.
Handle objections against trust by establishing rapport and relationship in every stage of interaction, especially during client meeting opportunities, with the goal of providing informed choice so they may feel more confident in working with you.
Stalling may not always be considered as an objection but likewise have legitimate reasons why they happen.
- The decision-maker consists one or more people that have different unresolved concerns
- The money required to pay for the solution being offered is not yet available at this time
- Their interaction with you at the moment is exploratory in nature for a potential need in the future
How to handle objections that are meant to stall the sales process: Prospects that stall a sales process use up precious time. Be transparent and encouraging so they will feel confident in telling you the truth why their purchase decision is in a stall condition.
How can you turn a ‘No’ into ‘Yes’ or an objection into conversion?
It is safe to assume that Murphy’s Law is always at play in every sales process: “If something can go wrong, it will”. Proper communication, therefore, is the best antidote for objection handling in sales. It is important to start each interaction with a proactive dialogue using the right sales communication tools. Any objection must be treated as an opportunity to explain further and better what was not clear in the sales presentation.
“When buyers have a few objections and you can satisfy them, your success rate is 64%.” – Web Strategies Inc.
Listen and Understand the Objection
Listen attentively to the prospect’s objection and find out if it is a valid objection, or if they are pointing you to an underlying concern that they are not keen on expressing clearly. Buyers stated that 95% of buyers think that a typical salesperson talks too much while74% of them said that they were more likely to buy if only that sales person would have simply listened.
Respond Without Being Defensive
Prospects may take offense when you act defensive against their objections. Instead, acknowledge their objection to show how much you have listened and focus further on explaining or alleviating any misconceptions in a manner that is discreet and can easily be understood.
Establish That the Objections Have Been Addressed
Simply reconfirm with the prospect if his or her objections have been clarified. If not, ask if there is anything else that they need in order to satisfy their concerns and respond accordingly.
Find Points of Agreement and Pre-Close
Once your prospect’s objections have been satisfied then proceed to find points of agreement. Points of agreement also move you forward to a pre-close.
These could be:
- Determining how to proceed with the sales process
- Introducing you to the decision-maker
- Establishing a specific date when a purchase decision will be made
One way of overcoming objections in sales is to perfect your sales process from end-to-end. Handling customer objection the proper way shortens the time involved in the sales cycle and raises the efficiency of leads-to-conversation rate saving you cost of resources that translate to more money in the company’s bottom line.
How is your sales process defined ?