Objection handling

Objection handling like a ‘Boss’:

Hi there,

Welcome to our latest newsletter, today we delve into a topic which causes sales professionals all over the world stress and lost sleep:

How to deal with objections

There are many, many objections that we all face day in and day out in our jobs.

Choosing the most common objections has been a challenge.

Buyers vary significantly in how they respond to you during a meeting, this therefore requirers adaptability and skill in dealing with the unexpected objections.

The time pressures in most cases further limit opportunities for too many questions, to make things even more complex, prospects are often reluctant to share reasoning, making all but the very best salespeople’s objection handling less effective.

Effective objection handling requires preparation, adaptability, and as we have suggested before, a deep understanding of the customer's perspective. But fear not!

In this edition of our Tips, Tricks, and Reminders newsletter, we'll explore Five common objections and some potential ways to address them.

Five common objections and how to deal with them.

• Do I really need this?

• Can I afford this?

• Will I ever use this?

• Is this the best option, what else could I buy that will do this job?

• If I don’t buy this – could I use the money it frees up to do something else?

Perhaps you have come across some of these already - perhaps these are potential objections you can deal with whilst planning  and cover them in your compelling sales pitch, but at worst – let’s look at them one-by-one and see how you might cover them when the objection comes up!

Do I really need this?

The way the customer phrases the objection: "I'm not sure I really need this right now."

What you should be asking: "What challenges are you currently facing in [specific area related to the product]?"

Show how it helps: "This product can help you [specific benefit], saving you time or money in the long run."

Future State: "Even if it's not an urgent need today, wouldn't it be great to have this solution when your customers’ need it and ahead of your competition?"

Can I afford this?

The way the customer phrases the objection:  "It’s too expensive."

What you should be saying: "I understand budget is important. Let me show you how this investment saves you money over time."

ROI Argument: "Many of our customers recoup their investment in [X months/years] because of [specific savings or efficiencies]."

If flexible payment is available: "We offer instalment plans or financing to make this easier on your budget."

Will I use this and value it in the long term?

The way the customer phrases the objection:  "What if I don’t end up using it or customers don’t buy it?"

What you should be saying:  "Based on what you’ve told me, and what I know about your business, this will be valuable for [specific use case]. Wouldn't that be worth it?"

Risk mitigation: “I have brought lots of new products / services /ideas to you before and as you know – they have all added profit to your business – and if they don’t deliver, my company is prepared to jump in and help you mitigate the risk, we don’t want to load you up with ‘shelf warmers’ – that not me or the company[name].

"We offer a satisfaction guarantee or return policy if it doesn’t meet your expectations."

Customer stories: "Many of our customers felt the same way but now say this product or service[name] delivers just what we promised, and their customers/staff/ all think it’s great because… [positive outcome]."

Is this the best option available?

The way the customer phrases the objection:  "I want to compare other options before deciding."

What you should be saying:  "I completely understand. Here's how we compare to other products in the market and what makes us unique."

Time savings: "I’ve already done the research, and here’s why this is the best fit for you."

Limited offer close [if available to you]: "If you decide today, I can offer [limited time discount a ‘bundle deal’ or exclusive bonus]."

What is the opportunity cost?

The way the customer phrases the objection:  "I could use this money for X [something else]."

What you should be saying:  "That’s a fair point. However, by choosing this now, you’re investing in [specific long-term benefit]."

Understand the priority: "How does solving [problem or pain point] rank in your list of priorities right now?"

Reframing: "Think of this as an investment rather than an expense."

As a skilled salesperson you need to approach these potential objections with empathy, curiosity, and problem-solving, aiming to show the customer that you have done your research , understand their pain points, and have thought about how the product, idea or service aligns with their specific needs at this moment.

So go forth, fearless sales warriors, the deals await, and you're more than ready to seize them.

Until next time, may practice ways to answer those objections and overcoming them with confidence to close more profitable deals!

Remember, there is always…

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