The theory “Sale begins when the customer says ‘NO’ was propounded by renowned sales guru of the 20th century, Mr. Elmer G Leterman, holds well even today.
Objections are a common and healthy part of any business negotiations. They offer an opportunity for both parties to clarify their positions, identify potential concerns, issues, and work together to find mutually beneficial solutions.
However, the first question that often springs to one’s mind is, ‘Why do people object in the first place at all?
The answer is, in any buying & selling the decision-making involves a degree of responsibility. People want to avoid the discomfort and uncertainty that could come up with the change or the unknown. Hence, winning their trust by building confidence is your ultimate challenge to get sales.
Here are 7 steps that can help you ace your sales deal:
- Listen Actively: Always be a good listener, the first step in handling objections is to proactively listen to your prospect’s feedback and concerns. Give them your full attention, and let them express their thoughts and feelings without interruption. Make sure you understand their objection fully before you choose to respond.
- Acknowledge the Objections: It is highly advisable to patiently acknowledge the objections. This will show that you empathize with the prospects and are keen on learning and improving what you have to offer. It will build trust and confidence in your prospect and make him/her feel that you understand his/her perspective and will inculcate changes to be made, if any.
- Clarify and ask Questions: Our personal experience tells us that it’s best not to assume what your clients have to say. Encourage them to clarify their doubts and ask suitable questions. This will help you further understand the prospect’s concerns and needs. Moreover, it will clarify thoughts by dispelling any misunderstanding, imaginary or otherwise your mind has conjured up. You’re then better equipped to demolish the wall of objections with proper ammunition of answers to steer him a few steps nearer to closing the order.
- Address the Objections: Once you have a clear understanding of the objections, address them directly. Provide relevant information or evidence that supports your response to their objection. It could be in the form of data, case studies, testimonials, or any other information. Be honest and transparent, and avoid making promises that you cannot keep.
- Offer an Alternative: If the objection is related to a specific aspect of your product or service that is not modifiable, offer suitable alternatives. If modifications are possible, express how they can help meet their needs. This can show that you are flexible and willing to work with your prospect to find a solution.
Pro-tip: Avoid making promises that you may not be able to keep. - Show Testimonials and other Proof: Exhibit examples, case studies, and testimonials that have benefitted the competitors who had almost identical objections. That will direct their direction of thoughts in favor of your products/ services. They will find that you have understood their objections and you are keen to provide solutions.
- Close the Loop: Follow up with the client to ensure that the objections are resolved to mutual satisfaction. This will help review the performance, build trust, and keep the sales process moving forward to shortly arrive at closure.
Handling objections in a constructive and collaborative manner leads to successful negotiations. It clarifies positions, fosters understanding, and uncovers mutually beneficial solutions. Objections should be seen as opportunities to build stronger relationships. Approach negotiations with patience, optimism, humor, and a passion for sales to achieve your goals!