“Your product doesn’t fit my needs.”
“Your service is too expensive.”
“I don’t need your services.”
These are just a few of the objections a business may encounter on any given day.
While you may not like hearing hesitation from customers, it is essential to growing your relationship with them. Objections build faith in what you do. When you take time to put the sales pitch aside and listen to the questions and struggles of your customer, that is where true business-builders will see opportunities for growth to the objections of its customers.
It does not matter the size of the company or the industry, everyone is out looking for new customers or hoping to retain the ones that they have. Here are a few ways to respond to three common objections your sales process may encounter.
If your potential customer states that budget is the biggest objection, build the value of what you offer so the price seems more reasonable. A great example of this is with Apple products. They are far more expensive than the competition, but people have no problem getting the latest and greatest technology for the Apple name. They will buy it for themselves or get it for their employees. That doesn’t make the price less expensive at all, but they are willing to pay for the larger price tag because they see value in the product, and in this case, the brand. If you have a personal story about how your product or service has brought value to you, ask to share that with the customer.
Show them yourself
If your potential customer lacks confidence in your service or product, be willing to show them yourself. This is a big issue with new technology. Some people are simply afraid of change and they like what they are used to. Take off the hat of a sales person and put on the hat of a teacher. Show them how it would benefit their business or life. If possible, do a live demonstration for them.
Start at the beginning
If your customer simply has no idea what you are offering, start from the beginning and build value along the way. When you have worked for a business for a long time, it’s easy to forget that some people don’t know you even exist! My cousin, who works in IT for a local company, asked me about my job at Red Shoes Inc. When I used the term “news release,” I saw a blank expression take over his face. He had no idea what that even meant, whereas that is a daily term for me. Remember who your audience is and choose words and examples that are relevant to them.
Objections are a great opportunity to open up dialogue and understand your customer. They should not be seen as negative. It is easy to interpret objections and rejections as a reflection of you. Don’t take it personally. This is about business.
Make a list of the most common objections you face in your industry and come up with a few responses to prepare yourself and your team to handle them in the future. Objections are never going to go away, but how companies choose to react to them determines the final outcome.