Objections are what stop a sale. Period. You ask a prospect whether he or she wants to buy your product, and the prospect says it's too expensive. That makes sense to you, so the meeting is over, right?
Wrong. Instead, when someone objects, listen carefully. Does he or she really think the price is too high, or is "no" just a knee-jerk response? Customers rarely accept the first offer in any situation-especially when it comes to price. Objections are also a way to buy time; your prospect may just want to think for a moment or hear about the product before making up his or her mind. So follow these tips:
- Hear the prospect out. Regardless of the objection, let him or her finish before responding. Many novice salespeople hear an objection and overreact. All they can see is a sale slipping away, so they anxiously interrupt. This results not only in cutting someone off but appearing as if you're dying for the sale.
- When the customer finishes speaking, be empathetic. First, show that you understand the concern then begin dealing with the objection. If it's price, agree that while initially, it may seem high, it's not when you consider how the product or service saves time, cuts costs, helps expand their business and so on. Don't sound like you're reading a script; mix the figures and the anecdotes. Personalize it to the prospect's business. Show clients you know their needs. As always, stress the benefits.
See our tips on Monday, October 2, and Tuesday, October 3 for parts 2 and 3 of this article.