Obstacles to Sales — Overcoming Objections
The secret to overcoming obstacles to sales caused by sales objections is to understand “the why” behind the sales objection. It starts with a belief that your prospect has.
You job is not to persuade the prospect that he’s wrong, or to convince him that you are right. Your job is to help him DISCOVER the answers he needs to make the right decision.
Although there may be lots of different objections you’ve heard , they all boil down to basically 5 underlying reasons, and they are all around something your prospect believes about you, your product. Some are your fault for not clearing them up before this point, and some are the mindset that your prospect has. The mindset is harder to deal with.
The basic reasons for sales objections
- Fear of making the wrong decision, procrastination
- Credibility — believing you, your products, or your serviceds actually is a credible solution to his problem
- Perception of Value you bring to the table — this is where you frequently hear a price objection.
- Timing/Priority — There may actually be something more important to your prospect right at this moment. Or, at least he BELIEVES that’s the case.
- Understanding what you really do
No matter how many different reasons you’ve heard for not buying from you it all boils down to these 5 underlying issues. Once you know how to help your prospect DISCOVER that he actually wants what you have all sales objections will go away.
Fear of Making the Wrong Discision –> Procrastination
Actually this may overlap any or all of the other issues. The prospect may even see so many different solutions that he just doesn’t know which one is the best answer for him.
When this is the case, there are two possible solutions, one is in your control, and the other may not be. The one in your control is that you’ve helped the prospect discover that you, indeed, have what he needs . . . but, due to his own internal struggles will just never pull the trigger with anyone, even the best sales person in the world.
I’m not giving you an excuse to not do all of the rest of the “discovery process” with the prospect to your greatest ability, however, it’s also important for you to quickly qualify your prospects into “those that will” and “those that won’t” based on their own internal mindset.
Getting that “qualifying” skill under your belt can quickly help you close a lot more sales . . . because you’ll spend more of your time with “those that will”, and also “those that will” more often and will spend more when they do. But that’s another whole article.
If you haven’t helped them get to know you, like you, and trust you enough then your credibility is at stake. This isn’t something for you to take pesonally, just something for you to work at to build. It takes time, and, depending on the perceived risk (your fee, or cost of failure) the more risk the longer this will take.
Credibility applies to
- You personally — whether you are believable. Whether you have given enough time for them to get to know you. Whether you’ve given them enough case studies, testimonials that connect.
- Your solution — Whether the solution you provide actually seems that it could work, or would work, and whether they’ve heard your testimonials that connect close enough to what they do.
Perception of Value
There are two sides to this coin. The perceived value of the solution (the value of the benefit you provide), and the perceived amount of pain they are in (in other words, do they feel that they are in enough pain right now to act, or to risk taking action right now.
This is where price enters the picture. The value they will get by choosing you must be perceived as MUCH greater than your price. They must also be in enough pain (so establish the value of the pain, what it’s costing them to live with it). Also they must believe that the value you bring must be MUCH greater than any potential risk. Of course you must reduce the perception of that risk as well.
Sales Objection Lists
These may be just a few of the things you’ve head and the category of sales objection they fall within.
Overcoming Sales Objections
So, how do you overcome those sales objections?
Questions. Helping your prospect explore what he thinks.
If you start telling him where he’s wrong, or even offering positive suggestions of what he might get by looking at it a different way your prospect is likely to respond negatively. Frequently, whether you see any signs of it or not, the prospect feels that “here’s a salesman trying to push his buttons.” It’s very likely that you will not be looked at as “helpful’ but instead as “salesman.”
Your job will be to “understand” how the prospect feels and why. To help him explore his original feelings, and some possible alternatives that are “helpful”.
When a prospect indicates what he believes . . . understand what he believes. Don’t argue, indicate that you do undersand why he feels that way, and that there have been times that you have felt that way yourself.
Questions — dig for the underlying belief that makes him feel that way.
One of the objections I frequently hear is: “I’d love to have the kinds of results you provide, however, I just can’t afford it right now.”
I could go into a long explanation of how they can’t afford not to have what I can do for them, more clients, more money that would relieve the reason they don’t have money in the first place, etc. And, I can remember when I used to do that, but I rarely convinced anyone.
How can we handle that sales objection in a way that has the highest probability of overcoming that objection?
Try this, handling price objections
I understand how you feel. Been there, done that!!! (with emphasis).
I can remember when I experienced something similar, at least up until I found this solution.
If you found a soluton that would
- actually increase your income many times more than it costs,
- and would put all of that “money you are struggling to get” back into your pocket,
would that interest you at all?
If they say yes, then give them an example of a client of your who worked with you on a similar solution, had a benefit (with the value of that benefit) that did produce more income, or reduced a huge pain.
Then ask if they’d like to have a similar result.
Also, if we are dealing with price, ask them if the problem is the “total cost” or if they could take several smaller steps would that work?
For instance, when I hear that a client has indicated just how valuable it would be to get the kinds of results most of my coaching clients get, which is frequently 50 to 100 times more than my fee, but they STILL say they just can’t afford it.
I’ll get them to state just how much value they think they would get from coaching. At that point they do agree that they need what they can get from me, but maybe they don’t have that amount of money right now.
So, they agree they want me. I just have to find a price point that they can afford. So, instead of a monthly coaching fee, we can start with one session where we’ll focus on doing something that will generate a lot more than it costs fairly quickly, and the fee is about 1/4th of what it would be for a whole month.
Or, I can bring them into a mastermind group at about 1/4th to 1/2 coaching costs. Or the $100K Marketing Club at onlyl $29/month, $1 for first month. With the idea that every dollar spent will generate many times what it costs.
They should always be looking at $1 in generates how many times that out. Maybe they can’t come up with $1,000 right now, but they can come up with $250 (mastermind groups) or $29 (marketing club) if it generates 10 times that within the next month. Then they can take that new income level and reinsvest to go to yet another level and another, stair stepping their way up the income ladder.
So your job is to first get them to agree that what you have to offer is something they really want (take price out of the picture). If they want it at any price, then our job is to find the price they feel they can afford.
If the issue is credibility, they may use a delaying tactic, such as “Send me your brochure. I’ll review it and get back to you?”
To that, ask them, “I’d be glad to send you some things that will help you find what you really need. Can you tell me what you need to know that would help you evaluate if this works for you?