Sales professionals encounter objections from prospects during the selling process. Objections are often caused by poor quality prospecting or a lack of perceived value by the prospect. However, salespeople must also be prepared to handle genuine objections. Are you ready to take on the top objections that salespeople most commonly face? In this sales training article, we discuss the seven most common objections and how to handle them confidently.
1. Not interested
This objection usually means that the prospect does not find your engagement or message interesting. To reduce the frequency of hearing ‘not interested’, strive to make prospecting more engaging with compelling points. To respond to this objection, thank the prospect for their honesty and ask them to share the reason for their disinterest. Perhaps they do not see the value of your product, or they have already been approached by a similar offering.
2. Price is too high
This is a common objection that can catch inexperienced salespeople off guard. To handle this objection effectively, it’s important to provide the prospect with a detailed breakdown of the value that they will receive. Offer them a payment plan or demonstrate the return on investment to justify the cost.
3. Already working with a competitor / I have a current supplier
This objection requires a salesperson to ask questions to uncover the prospect’s concerns. Start by asking if their existing provider is meeting their needs. If not, offer to show how your product can address their concerns or offer unique features and benefits that their current provider may not offer.
4. Need to think about it / Call me in three months
This objection could be genuine or an excuse to end the conversation. Initially, follow up with a question about what they need more information about. If it’s a genuine need to think about it, set up a mutually agreed-upon time to call back and get a clear answer.
5. It’s not a good time / Send me information
This sentence can mean different things depending on the context, and it’s often a polite way for prospects to tell you that they’re not interested. You don’t want to waste your time and energy sending information that won’t be read, nor do you want to miss out on genuine opportunities.
6. My boss/colleagues make the decision
This objection means the decision-maker is not the person you’re currently meeting with. It’s important to ask a few questions to gather more information. Schedule a follow-up call or a meeting with the decision-maker to ensure the person you’re engaging has all the relevant information they need to present it to their boss or colleague.
7. I don’t have budget
This could mean that the prospect really doesn’t have the money to invest in your product or service. Alternatively it could mean that they’ve already invested their budget elsewhere or that they simply don’t see the value in your offering. Either way, acknowledge the objection and start a conversation to uncover the real reason behind it.
Objections are a normal, and necessary part of the sales process. To succeed, salespeople must be prepared and equipped with strategies to handle objections confidently. By identifying common objections ahead of time and practicing response strategies, sales professionals will be better able to build trust with prospects and close more deals. Overcoming objections requires effective communication, active listening, and a focus on the prospect’s needs through every stage of the sales process. By mastering the top seven objections discussed in this sales training article, you’ll be well on your way to becoming a sales guru.