Are your sales reps struggling with an appropriate response to common customer objections? They're not alone!
Believe it or not, objections are exactly what makes the sales world go round. Think about it, if customers never made objections, sales reps wouldn't have a job!
In fact, this mindset plays a huge part in your sales reps' ability to overcome objections. They have to see objections as an opportunity and not a threat.
Once this concept is understood, the objections we are going to go over in this post won't seem so barring.
So, let's get started.
The 5 Most Common Customer Objections:
1. “You're too expensive.”
This objection comes first because it’s a very important one. When a prospect brings up budget as an objection, the underlying story is about the value or return on investment (ROI) they expect to receive from your solution. Almost anyone will be able to find the budget for something they truly value. It's your sales team's job to position your product or service in the “can’t do without” category.
The same underlying belief can also be framed in terms of an existing partner. If a prospect already has a vendor or partner in your space, they may have a hard time seeing the value of switching to someone new. Use this opportunity to learn about their current supplier and point out differences or advantages of working with you.
2. “This isn't a priority right now.”
The truth is this: if a prospect tells you to call back another time, he or she doesn't see the value in your solution.
Additionally, a solution like yours may have never even crossed his or her mind before. Understanding this, it makes sense for her not to want to discuss it. Deflect this objection by asking about current priorities and using case studies to illustrate the value of your offering.
This objection can be disguised in a few different ways. These include:
- “I just don’t have time right now.”
- “We have a lot on our plate this quarter.”
- “We’re really focusing on other parts of the business right now.”
- “Call me back next month.”
3. “I've never heard of you.”
Believe it or not, not everyone knows who you are or what your company does. So, without the credibility that comes with a big household name, how do you prove yourself?
Small businesses and startups often face one particular objection: The question of credibility.
When you’re just starting out, or are a small fish in a big pond, your prospects may react negatively to the fact that they haven’t heard of you. Think about it: big brand names spend millions on generating brand awareness for a good reason. People trust companies they’ve heard of, and that results in sales.
And remember, this objection is an opportunity! This is your chance to tell the prospect who you are and how you can help them. Better get ready to use that 30-second introduction!
4. “I don't think we need this.”
If a buyer suggests they don’t need your solution, the underlying belief is that they aren’t in pain. In other words, 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. No company is perfect, and any prospect that thinks there are no problems is just unaware.
Similarly, prospects will often dedicate more resources to consequences than to opportunities.
5. “I'm not the decision maker.”
Number 5 on our list of common customer objections is a tricky one. While this may be the case and the prospect isn't authorized to make a decision, this isn't the end of the road.
Instead of hanging up the phone and moving on, show the prospect your solution's value just as you would if they could make a decision. Then, guide them to introducing you to those that can make the decision. Some ways to do this is suggest setting up a call with the higher up to help explain the solution together.
Overall, these common customer objections happen everyday. If your team is having trouble responding to them, work on their mindset and ability to understand that objections are opportunities. Furthermore, help them come up with a list of responses tailored to your solution.