Objections are not the end of the game; they are part of it. How well you maneuver around the objections determines if you win the business game. Objections are inherent to the sales process. No one enjoys being rejected; however, if you maintain the mindset that, “sales is just a game… and if it is a game, then the game can be won,” objections can become less threatening and take on the characteristics of a puzzle to be solved. Objections are just part of the process and can often help you win the game. Overcoming objections requires several skillsets: the most important of which are listening, communication and problem solving.
Sales objections can be broken down into 5 basic categories. Namely, the prospect is objecting due to: no money, no authority to purchase, no need for the product, it is the wrong time for the company to purchase, the client has a relationship with one of your competitors or the prospect has no interest in change. Think about the objections you have heard in your sales career. When you start peeling back the layers, all roads will lead to one of those root causes.
Budget/Price: Your product is not being perceived as paying for itself. Is the prospect not a viable consumer of what you are selling? This challenge can sometimes be decreased with proper prospecting.
No Authority to Purchase: Are you speaking to the wrong audience? Is the prospect passing the buck on making the ultimate decision?
No Need: If the prospect has been properly vetted and they do not see any need for your product, then there is a problem with communication. If we are to take a step even farther back, the underlying objection to the underlying objection is typically that your prospect does not understand the value of your product. That becomes an issue with communication as people will typically find the money, make the time or endorse you to a decision maker if they truly understand the value of what you are selling. People will find the money to purchase something they value.
Wrong Time/Lack of Urgency: Does the company make investments on a cyclical basis? Are they in their “busy season” and unable to focus on making a transition? Or is the project putting you off because they do not have a sense of urgency? They sense that you will always be there, so it is just easier to put you off.
Competition/No Trust: If your project if doing business with one of your competitors, ask yourself why? Why are they choosing them over you? No competitor is perfect. They all have flaws and make mistakes. Think of that relationship as temporary- after all, your prospect is demonstrating that they are open to doing business and a viable candidate to make a purchase.
Resistance to Change/No Desire: Some companies hate change. Their business model functions under the premise of, “if it’s not broken, don’t fix it.” That’s ok. Not every single prospect is going to be a consumer. The goal is to find those who are on the cusp of purchasing and not purchasing and move them forward into a closed sale.
An advanced sales skill is the ability to listen beyond the words being said by the prospect and hear the underlying objection being communicated. Once you are proficient, handling the underlying objection and moving your prospect to the close will become easier.