Sales Objections – The best way to handle them

stop-sign

As a sales trainer the questions I am most often asked to provide answers to are;

I find closing the sale difficult. Please show me some techniques on how to close a sale?

I hate handling objections. Could you teach me how to handle objections?

What this tells me is that the individual in question is failing at the first sales hurdle. They seem to be living under the misconception that making sales is about handling objections and closing the sale – even though this is an important part of the sales process.

Objections often occur because a salesperson tries to close far too early. Sales professionals invest time in asking a range of good quality questions to really qualify and identify customer needs so that they can build this into the presentation stage of the sales process prior to attempting any closing statements. If this stage is done well many objections can be avoided.

For me the best way to handle objections is to pre-empt them as early as possible in the sales process.

One of the most frequent objections to surface is;

That is more expensive that I thought it was going to be.

Many sales people actually like this objection as it suggests that your client is ready to buy providing that you can agree a price that the client is willing to pay. What this does demonstrate however, is that the sales person has failed to establish the level of investment the client is willing to pay, to resolve their purchase requirement in the qualification stage.

Consequently we are now having to enter into negotiation or find a way to handle the objection to get the meeting back on track. Having a discussion on budget allocation up front can prevent this objection from occurring.

What level of budget have you allocated to this project?

What level of investment would you be comfortable in making in order to satisfy your needs?

There are many other objections that occur. Most objections can be prevented by covering them in the sales presentation.

Our product has been shown to reduce rejects by 25% per annum the benefit to you is estimated at £150k per annum. The cost of provision of our service is £50k per annum (within your agreed budget) giving you an return on investment of £100k per annum.

At this point the customer may actually ask when can you start? Alternatively you have the option to move to a close or simply ask;

Do you have any questions? When would you like to start? What is the next stage? Have we done enough to secure your business?

Spend more time on qualification and identification stages of the sales process and you will encounter less objections. You might even find the customer closing by themselves!