Sales are not an easy job, and one of the main reasons is because objections are hard to fight. Skillfully handling sales objections is what sets the best sellers apart from the good ones. The great news is that you can learn how to overcome sales objections by learning the most common objection management techniques and the most common sales objections and responses. Our objection handling tips will simplify the sales process and increase your conversion rate at the same time.
Sell the result, not the product
Potential customers don’t really care about your product itself, but they do care about what it can do for them. They want to know how your product or service will make their life easier and fix a pain point they have. One of the most common objections is that they don’t need your product, so avoid that objection altogether by selling the result rather than the product. By proving value to your customers, you will sell them as needed and can worry about the details later.
Offer different cost structures
Of course, every single vendor on the planet has heard the objection that their customer cannot afford their product. This is probably the most common objection they hear. Fortunately, overcoming this objection is as simple as making it affordable for your customers. Break the payments into smaller installments, offer “lite” versions of your product, offer discounts for long-term commitments, or offer your solution in parts so that a customer can choose which ones they can afford.
Also, analyze how much your product will actually cost when the savings from the solution are taken into account. For example, if your solution allows your customer to save 10 hours a week on manual labor, show them how much they are actually paying for the product after they save what the labor costs would have paid. Extrap these numbers on an annual basis or even more as needed to illustrate how much the product will cost.
Sell to the right person
Many times, the person you are giving your proposal to is not the person who has the authority to buy your product. While setting foot in the door is important by making a sales appointment with anyone in the company, getting your presentation to the right people is even more vital. When making your appointment, ask everyone who is interested in the pain point you are resolving to attend. While this may not always be possible, you must have at least one person in the room whose work is positively influenced by your product. That person can be an influencer for decision makers and support your product on your behalf.
Earn trust quickly
Customers need to trust their suppliers and usually decide on reliability within a short period of time. You can quickly gain their trust by truly listening to their pain points and needs without stopping on how your product can help. You’ll have plenty of time to demonstrate ways your product can address their pain points after you’ve earned their trust. The key here is to build a long-term relationship with your customers and not just be a point of sale contact.
You will hear every objection in the book when you are a salesperson, so the best way to overcome them is to be prepared for them. Knowing the most common objections and honing your sales pitch to address them before they arise is key to converting more sales.
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