If you're looking to effectively handle sales objections, keep reading!
Are sales objections stopping you in your tracks?
Fielding unexpected objections can be one of the most daunting aspects of sales, especially for a new hire or someone new to selling entirely. This fear is also a leading cause of debilitating “head trash” that can keep salespeople from making enough cold-calls or setting up new business meetings.
The best way to deal with this fear and uncertainty is to face the problem head-on. With that said, go into meetings and cold-calls prepared to field a wide range of objections. If you start listing out the potential objections you could hear from a prospect, it might seem like the options are endless.
How are you supposed to prepare for everything?
Lucky for you, sales objections actually cluster into a few main groups based on your prospect’s underlying beliefs.
Once you master handling one objection in a category, you’ll be able to respond easily and effectively to any number of variations on that theme.
Through our experience with scoping calls and one-on-one sales trainings, we’ve discovered that there are 5 types of common objections most salespeople experience.
So, the first step to handle sales objections is to identify the most common objections you receive and group them according to the categories below:
How to Handle Sales Objections in 5 Steps
1: “That sounds expensive.”
Underlying Belief: “I’m skeptical about the value/ROI.”
When a prospect brings up budget as an objection, the underlying story is often much more.
Usually, they're worried about the value or return on investment (ROI) they expect to receive from your product/service.
Remember, almost anyone will be able to find the budget for something they truly value. It’s your job to position your product or service in the “can’t do without” category.
2: “It’s not a priority.”
Underlying Belief: “Your solution isn’t urgent.”
If a buyer hesitates or asks you to call back later, he or she likely doesn’t feel the urgency to move toward your solution.
Reroute this objection by asking about current priorities and using case studies to illustrate the value of your offering.
3: “Can you handle it?”
Underlying Belief: “I’m not sure I trust your credibility.”
Small businesses and startups must handle this objection more often than not.
It's the age-old question of credibility. When you’re just starting out, or are a small fish in a big pond, your prospects may not like that they haven’t heard of you.
Big brand names spend millions on generating brand awareness for a good reason. People tend to trust companies they’ve heard of, and that often results in sales.
4: “I don’t think we really need it.”
Underlying Belief: “We’re not in pain.”
When a buyer doesn't think they need your solution, they don't think they have a problem. That is, they think the status quo is good enough.
It’s your job to ask probing questions to uncover a pain point that needs immediate attention. Once you ask enough questions, your prospect will discover the value of your solution his or herself.
5: “That's not my call.”
Underlying Belief: “I’m not comfortable referring you to the decision-maker.”
If your prospect states they aren't the decision maker, it's not your job to convince them they are.
In this case, your goal is not to dispel an underlying belief. Instead, to instill confidence in your prospect to introduce you up into the organization.
There you have it – the five most common categories of sales objections.
Now, it’s up to you to take the objections you hear most frequently and decide which Underlying Beliefs are motivating your prospects. The more equipped you are to handle sales objections, the more sales you'll close.
For more on the 5 Categories of Objections, as well as best-practice strategies for handling them, download our CFS Guide to Handling Objections.
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