Sales Objection
noun | sale ob•jec•tions
An explicit expression by a buyer that an obstacle exists between the current situation and what needs to be satisfied before buying from you.
Sales objections are common in the sales process and they are something that you should not run from. In fact, you have probably learned by now that sales objections can actually be a good sign as it shows you have built trust with your prospect and you are having an open dialogue.
While an open dialogue with a customer or prospect is a good thing, getting the same sales objections over and over again may not be. If you are seeing a pattern in your objections during your sales meetings, it is likely to be stemming from two things. Either there is a weakness in your solution or a weakness in your presentation. On the brightside, there are some steps you can take to address these weaknesses.
Here are the top 4 common objections that sales representatives see in the field:
- Price
- No need or want
- Not ready to buy, or in the research phase
- Authority
Price
Objections due to price is one of the most common objections you will receive as a sales professional and they are a very valid objection. Most people want to receive the best value in what they invest in, and if they are not seeing value in your solution. Why would they invest?
If you are seeing a pattern of objections about your solution’s price, it could be because you did not convey that the cost of the problem is greater than the cost of the solution ($P>$S). An objection in price does not mean the sale is over, it means you need to dig a little deeper and clearly connect how your solution will help them either achieve their goals, eliminate their problem, or even better, both.
No Need or Want
There will be times where you feel you did everything right in your sales presentation and once you are finished, your prospect says they have no need or want for your solution. Do not feel discouraged; this is another opportunity for you to hone in your sales skills.
To really understand what your buyer needs or wants, you have to make a connection to the end result that the buyer is looking for. When talking to your prospect, you need to uncover the objectives they want to accomplish and the ‘why’ behind them. Once you understand their objectives, define the hurdles that are preventing them from achieving their goals. After you have discovered those two things, you need to clearly connect your solution to their desired end result.
Not Ready
Typically, the first objection you receive in the sales cycle is rarely the root cause. When you receive an objection where the buyer is not ready, it could be one of two things. The first reason is similar to the price and no need/want objections, and it stems down to the lack of connection of the buyer’s problem with your solution.
The second reason you come across this objection is that your buying process is undefined. To help your buyer feel more comfortable throughout this process, you need to define how to purchase your solution. In most cases, your buyer has not purchased a solution like yours. Without defining the buying process, then the buyer will resort to previous criteria that may not be relevant to your solution and their problem.
Authority
It is fairly common to be meeting with someone who does not have the full authority to say yes to the sale. They are typically there to learn more about your solution and gather the information for the final decision maker(s). That is why it is important to clearly define the buying process, including uncovering the key decision makers and influencers.
During your sales presentation, you need to clearly define your 3 decision-making personas: who benefits from the solution, who influences the decision, and who authorizes the solution. By identifying all 3 of the decision making personas, you can engage each group throughout the sales process increasing your chances of closing the sale.
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From sales leaders to frontline team members, when everyone feels confident and prepared to tackle objections, your organization creates a competitive advantage that will be difficult for your competitors to imitate.
