When it comes to selling, objections are a great buying signal, so how do you best manage them to ensure you win that sale?
An objection is merely a query for more information. If the customer says it’s too expensive, don’t think you should drop the price immediately or that the product is too expensive. Believe in your product and provide the value – give more information as to why it’s not expensive – promote the benefits to your customer.
With any objection, acknowledge their viewpoint and ask another question. Continuing the theme of price, perhaps warmly question them on why they think it’s too expensive; what their budget is; what are they comparing it to; and by how much is it too much. Taking an interest and getting them to talk is half the battle.
Commit to spending about 25% of your total sales call time to the closing process. Don’t give up when they say “I’ll think about it”, or “I’m not sure”. When carrying out a business diagnostic (sales call) with a potential client, I allow a two-hour window, and start closing about 45 minutes before the end, that way there is time to listen and handle any objections.
When an objection is presented to you, break it down and answer one point at a time until the customer is satisfied you’ve resolved their query, but make sure you deal with non-price objections first. That way the price becomes less of an issue because you’ve sold the rest of the benefits first.
When someone says “I’ll think about it”, it’s generally a sign that they won’t think about it, more so, they’re after additional information and it’s a reflect reflection on their part. Ask specifically what it is they need to think about.
Refrain from butting in when an objection is raised – easier said than done sometimes, however, listen to what is being said. That way, you can fully understand the objection and can answer more effectively.
This is just one small part of the sales process you’ll go through. For more information, why not check out my book The Quiet Sales Genius.