ob·jec·tion /əbˈjekSHən/ noun — An expression or feeling of disapproval or opposition; a reason for disagreeing.
A prospect’s concern about your product or service is referred to as an “objection.” However, an objection should not necessarily be viewed as negative. It also does NOT mean a prospect is not interested in what you are recommending. When a prospect raises a sales objection, what that person is really saying is: “Your product sounds good, but I’m not yet convinced that spending money on it makes sense for me.” This person is telling you that he or she has unresolved questions in their mind.
In my experience, there are five major objections that you are likely to encounter:
1. No need
2. No confidence
3. No interest
4. No hurry
5. No money
A salesperson must correctly classify which of the above objectives is being raised – failure to do so will inevitably result in a “stall” (best case) or a lost sales opportunity (worst case.) Once you’ve classified the objection, it’s time to dig a little deeper and get to the root of the concern. Here is a simple 3-step process to remember that is effective in most circumstances:
1. Identify the underlying issue behind the sales objection
The prospect’s objection statement is usually very brief, such as: “I don’t think that will work” or “That’s too expensive.” You cannot respond to this statement until you know exactly why the prospect feels that way.
2. Present a response to the expressed sales objection
Once you have identified the actual issue, you can offer a clear, focused response that satisfies the prospect’s concerns.
3. Confirm that the prospect is satisfied with your response
After responding to a sales objection, you must get the prospect to agree that you have properly addressed their concern before moving forward. This is your opportunity to set your prospect’s mind at ease and get them thinking about making a purchase.
I frequently use the phrase “overcoming objections” which by my definition is simply asking probing questions that will allow you to fully clarify your prospect’s underlying reasons for concern. Once you’ve accomplished this, you’re able to offer a practical solution and move towards closing the sale. Your goal is not to prove that the prospect is wrong and you are right; it’s effectively aligning a need with a solution and proving that you understand their expectations of you and your product.
One of my favorite quotes is “Persistence Overcomes Resistance.” It has proven true for me time and time again. No does not necessarily mean no – sometimes it means “I do not quite understand and would appreciate you taking the time to show me.” Asking the right questions and actively listening to the answers will ensure you do not miss out on future sales opportunities.
Have a terrific week,
Dan
If there are specific topics you’d like to see discussed in a future issue of The Sales Cycle, please contact me at (612) 278-0223 or dan@mna.org