Sales objections: what are they, examples and how to overcome them?

As a marketer you will have to deal with sales objections from prospects at some point. That’s because every customer has some reason why they feel like a product isn’t for them at some point.

What are sales objections?

They refer to any excuse or concern put forward by prospects as an impediment to their ability to make a purchase decision. And most of these reasons tend to center around the lack of buying power or when the prospect has unanswered questions and doubts about your product.

Prospects will always object to your offer. So you need to know how to deal with these objections. Otherwise you will continue to lose sales and with it money.

The core of this guide is to help you identify the types and examples of sales objections and how to deal with them. Read it well.

Types of sales objections

1. Lack of budget

The first type of sales objection experienced in any business is budget issues. However, sometimes you see customers say “It’s too expensive”.

Not that they don’t have the money to buy, but they are not yet convinced of why they are buying, and also every purchase always carries a financial risk, so they want to know why they should risk their finances to buy. pay for a product.

2. Lack of confidence

Three criteria must be met before any of your audiences can buy and that is “Know, Like and Trust”(called the KLT factor).

People only buy from those they know, like and trust and that’s why you sometimes see them say something like “Your company’s name is new to me.” It’s not their fault – they need you to prove why they should trust you.

3. Lack of Need

Another common sales objection is when customers say, “I don’t need this product.” This may sound like rejection, but it gives you the perfect opportunity to show them as they need it before the price goes up.

4. Lack of a sense of urgency

When prospects don’t have a sense of urgency in making a purchase decision, they tend to apologize. As a marketer, you must be able to handle their objections and give reasons why they urgently need them.

All you need to do is pay attention to their response and identify when they imply they don’t need your product right now.

How to deal with sales objections?

There are many ways to deal with sales objections, including:

1. Listen patiently to your prospects

The first and foremost way to handle sales objections is to listen patiently to your prospect and understand the reason for their apology.

Avoid assumptions and don’t respond without thinking twice about what to say to calm their nerves. Also, let them express any concerns before they speak.

2. Repeat what you hear

By repeating what you hear, your prospect knows you understand their complaint. This can help build a little confidence even before tackling the problem.

Make sure you understand what the prospect is communicating so they feel valued.

3. Confirm and resolve your prospect’s concerns

When a prospect tells you their reasonable concern, you must first confirm it. Tell them you know it’s true, but you shouldn’t recommend your competitor’s product. What you need to do is just provide another way to ensure that their concerns are addressed.

Assuming you’re selling a product and giving one of your prospects the excuse not to patronize you because of location. You can just say, “I understand the distance barrier is holding you back, but we have a shipping service that is always ready to deliver customers’ goods to different locations.”

4. Ask follow-up questions

If you feel like the prospect is pulling back despite addressing their concerns, another way to ask follow-up questions is to keep the conversation going. Never ask simple questions, ask open-ended questions that prospects should think about before answering. The more information you can squeeze out of them, the better your chance of closing them.

5. Use of Testimonials/Evidence

Prospects tend to trust a brand that shows social proof of how fascinating their product is and how people recommend their product.

Tell a story of similar customers you’ve helped and provide evidence of their exciting state after using your product. It’s a great tool to win your prospect’s heart.

6. Choose a time and date for a follow-up

Sometimes handling objections from prospects requires follow-up. If they ask to think about it for a while, a good and timely follow-up is essential.

Pick a specific date and time to do that, but don’t sound too aggressive.

7. Always be prepared

Another way to handle sales objections is to show your prospects that you know what you’re doing by always being ready to answer their questions correctly.

Don’t get caught unprepared! Always expect an objection from your prospect and be equipped with all the information about the product or service. This may take some time, but as you meet different prospects you will get better.

Examples of common sales objections and necessary answers

  1. “It’s too expensive” – When a prospect says this, don’t focus on the price, rather emphasize the value of the product.

Sample response: “I’ll be happy to explain the benefits of this product and help you solve your current problem. Would you like to hear it?”

  1. “There is no money” – measure their level of growth and see how your company can help them.

Sample response: “I understand your plight and we have another offering that will deliver great results for you with less capital.”

  1. “I’m not convinced” or “I’ve never heard of your brand name.”

Sample Response: “We’re a team of expert builders focused on building responsive and functional websites for businesses, and we’ve helped xxx and yyy brands. If you give me a chance, I’ll be happy to explain how we can help your business grow too.”

Conclusion

A higher percentage of prospects always object to their inability to make purchasing decisions, which is why it is every marketer’s job to learn the strategies for dealing with sales obligations. Dealing with sales objections helps the prospect build trust in the brand.

As an entrepreneur, do not wait until you have no more new customers before you learn how to deal with sales objections. I hope this guide will help you.

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