Making sales is not always easy, and customer objections can be tricky. There is a clear difference between a firm and non-negotiable ‘no’, and an objection that is being offered as a starting point for you to solve their issues and put their minds at rest before agreeing to the sale. In this article, we are going to look at what sales objections are and the psychology behind them, the most common objections and how to overcome them, and how different methods and tools can make winning more customers easier.
What are sales objections, and what is the psychology behind them?
Sales objections are essentially reasons why a potential customer is hesitating to make a purchase and depending on the type of objection and how it is delivered, it can be an opportunity to provide more information, offer more insight and detail, or give reassurance so the potential customer becomes a paying one.
The psychology behind sales can vary widely depending on the customer and the situation, but in general, an expression of uncertainty and sales objections can often come from:
Fear of making the wrong decision
Lack of authority
Not enough time to talk through concerns
Budget or price issues
Fear of change
Perceived lack of value
Insufficient information
Lack of need
Insufficient trust or belief in the salesperson
Many of these issues are ones that can be addressed relatively easily, but it is essential that your salespeople know what is motivating or hindering the customer and can respond accordingly.
Failure to address relevant concerns can make these tentative sales objections into full rejections of both the product and in the worst case – the entire company.
What are the most common sales objections, and how should you counter them?
Knowing when to stop and when to push is a vital skill for any salesperson, and when it comes to sales objections, you do have to tread very carefully.
Some of the most common sales objections and potential counters (which may vary in usability or usefulness, depending on the individual situation) include:
“We’re already happy with our existing provider.” - Ask clarifying questions about their existing provider and demonstrate value where your product/service can do better. Consider offering a free consultation or demonstration to allow them to experience your product firsthand.
“The price is too high.” - Acknowledge concerns with empathy and understanding, but still focus on the value and long-term benefits. Consider any adjustments of price within remit, but do not open with the implication that you can always do this cheaper – once you start with a low price, you will have trouble raising it again. Consider flexible payment options, tiered pricing, or short-term discounts, but indicate that these are not long-term solutions and are because you want them as customers.
“I’m too busy to discuss this right now.” - Show respect for their time and schedule, if appropriate, ask if they have time for you to quickly provide the information or arrange to reschedule. You might also suggest sending them the information in a different format (email, messenger app, etc) and arranging a follow-up call at a later time.
“I don’t have the authority to make this decision.” - Ideally you should be checking before you make contact that you have the right contact. Sometimes this can change, and you should ask the individual to refer you to the correct person and reach out to them for an appointment.
“We’re not sure we can trust you.” - This should not be taken personally - it is about the company and / or the product. Showcase social proof such as case studies, testimonials, and industry recognition. You might also offer a guarantee or a risk-free trial.
“We don’t need this right now.” - This is one of the trickier objections as they might be angling for a better deal, or they may want to shut the conversation down completely, or it might be somewhere in between. Understand their current situation and make decisions based on how the conversation has gone. For those that are just hesitant, demonstrate value and benefits. Those that want to keep you in mind should be offered contact details and access to appropriate channels (such as a business card with a direct contact to the rep). Those that are not interested should still be treated respectfully, and asked to keep your company in mind when they next evaluate or review the particular need that your business addresses.
What are best practices for addressing objections and closing deals?
Always be respectful of the time, intelligence, and position of the person you are speaking with. As a sales rep, you are acting on behalf of your company and representing your brand so you must make sure that every interaction is one that meets appropriate standards.
When it comes to best practices, you should:
Keep track of objections and make use of the data for future learning
Role-play sales objections with your team and encourage lateral thinking
Research customers ahead of time and ensure you are speaking to the right people
Determine how and when customers want to be contacted
Take a personalised approach that makes the client feel valued and comfortable.
By using CRM and integrated data analytics, you can easily discover information that will guide you and your team, allowing you to adapt each sales outreach to the needs of the specific client.
Following this up with tools for customisable Terms & Conditions will allow for even greater value, and a better reputation for the business when compared to competitors.
Minimise and overcome objections with TEB
TEB is the next generation of sales and business automation for the AI age, proven to maximise lead conversions and boost revenue by 35%. With TEB, sales teams are able to minimise objections and prepare for them effectively with advanced tracking, customer insights and follow-up automation.
Leaves notes on leads about objections to reference, give team members a heads up and prepare for future meetings.
Customised fields and labels so your TEB interface will accurately represent the needs and requirements of your specific working setup. This will allow your team to get up-to-speed much quicker and be ready to handle customer challenges without delay.
Multi-location and work pattern support to ensure that no matter where your team are, whether it is with clients, out in the field, or simply working from home, they always have the most accurate real-time information ready to work with.
In-depth insights into customers help sales teams understand the leads needs and wants to prepare for objections ahead of a follow-up or engagement.
Make a positive change to your business and book a demo today. TEB’s team of experts will provide you with everything you need, training included, to get data-driven and digitally flying through your challenges, to a more profitable, successful, and positive company output.
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