Join our Waitlist for Expert Advice!

Face Your Fear Of Objection, Part 1 Find out why it doesn't have to be over when your prospect says no.

Objections are what stop a sale. Period. You ask a prospectwhether he or she wants to buy your product, and the prospect saysit's too expensive. That makes sense to you, so the meeting isover, right?

Wrong. Instead, when someone objects, listen carefully. Does heor she really think the price is too high, or is "no"just a knee-jerk response? Customers rarely accept the first offerin any situation-especially when it comes to price. Objections arealso a way to buy time; your prospect may just want to think for amoment or hear about the product before making up his or her mind.So follow these tips:

  • Hear the prospect out. Regardless of the objection, lethim or her finish before responding. Many novice salespeople hearan objection and overreact. All they can see is a sale slippingaway, so they anxiously interrupt. This results not only in cuttingsomeone 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 withthe objection. If it's price, agree that while initially, itmay seem high, it's not when you consider how the product orservice saves time, cuts costs, helps expand their business and soon. Don't sound like you're reading a script; mix thefigures and the anecdotes. Personalize it to the prospect'sbusiness. Show clients you know their needs. As always, stress thebenefits.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Money & Finance

The Government Is Forcing Business Owners to Share Personal Data or Get Fined $10,000 — So Why Don't More People Know About It?

The Treasury Department wants to know who owns your business, and the smaller your business, the more attention you should pay.

Money & Finance

Customers Have a Favorite Payment Method — But 30% of Businesses Don't Accept It. Are You Driving Business Away?

This article examines the surprising gap between what consumers want in payment options and what small businesses currently offer. It also provides strategies for small business owners looking to adapt to these preferences and enhance customer loyalty.

Leadership

Could We Have The First Native American Woman Governor? DEI Expert Weighs In On What Allyship Should Look Like If History Is Made.

We can all learn more about what it means to be a better ally for those who are the "firsts" in their space. Here are three strategies around allyship this DEI expert recommends to her diversity, equity and inclusion (DEI) consultancy clients.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

'Additional Human Touch': Starbucks Has a Turnaround Plan That Includes Buying 200,000 Sharpies. Here's Why.

Faced with declining sales, Starbucks has a comeback plan that involves several changes to stores and menus. Here's a look at the changes coming to your store.