How to Sell – Overcoming Objections

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Overcoming Objections

overcoming objectionsThe Overcoming Objections stage is about listening to the prospect’s concerns about the product or service after they have some knowledge of it. For example, they may say “It doesn’t do this” or “it is more than I have budgeted” and “I don’t like the way it handles this issue”. The role of the sales person is to overcome or minimalise those problems.

Of course, not all objections need to be overcome. If your competitors have the same limitations or would fail to meet the prospect’s other more important requirements.

In text book selling, the Overcoming Objection sales stage comes after the Demonstration and before Closing. However, in reality the prospect can introduce Objections at any time in the sales cycle.

Here are some typical objections and some solutions to overcoming them:

Price is too expensive

  • Differentiate your offering from cheaper alternatives: features, service, customer satisfaction
  • Try to minimise e.g. “an extra £10k over five years is only £35 a day!”
  • De-scope the offering: take out features not needed in return for a lower price
  • Discount in return for quick sale or customer endorsement
  • Offer different financing or payment terms, perhaps across multiple budget years such as staged payments or leasing

Product isn’t a complete match for requirements

  • Look for workarounds
  • Try to minimise importance versus 100% fit for everything else
  • Point out that nobody else does that either

Competitor has more features

  • List features that you have, and that the competitor doesn’t
  • Point out any restrictions or drawbacks of those features
  • Disprove, if possible, e.g. “they say they do that, but actually they only do this”
  • Minimise desirability of their features

Your company is too small or too new

  • Provide references of happy customers
  • Point out they’ll get better customer service from a small company
  • As an early customer of a new company, their needs can help shape the product
  • They’ll be ahead of the competition by going with a leading edge product

Prospect is not ready to place order

  • Work prospect’s time scales back to prove that they need to order sooner than they thought
  • Find or create a Compelling Event that will give them a reason to buy now
  • Next: Closing the Deal
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