Handling Objections
The prospect may object to points made in the presentation, so the salesperson should be prepared to listen and address those concerns.
LEARNING OBJECTIVES
Describe the types of buyer’s objections and how to address them
KEY TAKEAWAYS
Key Points
- Sales objections can be defined as statements or questions raised by the prospect which can indicate an unwillingness to buy. The objections of customers include objections to prices, products, services, the company, time, or competition.
- Salespeople can overcome objections by following certain guidelines such as viewing objections as selling tools, being aware of the benefits of their product, and creating a list of possible objections and the best answers to them prior to the presentation.
- Respecting the concerns of the buyer demonstrates that the seller is appreciative of his concerns. It is important to not become defensive, as the buyer is not criticizing you the seller, but wants to make sure he makes the best decision for the company.
Key Terms
- rapport: A relationship of mutual trust and respect.
Expect Objections
During the course of the sales presentation, the salesperson can expect the prospect to object to one or more of the points made. Sales objections can be defined as statements or questions by the prospect which can indicate an unwillingness to buy. Salespeople can learn to handle customer’s objections by becoming aware of the reasons for them.
The objections of customers include objections to prices, products, services, the company, time, or competition. Customers may have gotten into the habit of raising objections, have a desire for more information, or have no need for the product or service.
Meeting Objections
Salespeople can overcome objections by following certain guidelines such as viewing objections as selling tools, being aware of the benefits of their product, and creating a list of possible objections and the best answers to them prior to the presentation. Objections can generally be handled easier through listening, clarifying, respecting, and responding.
Handling Objections: Any presentation of a product or service will raise objections from the prospect. The best way to cope is by anticipating the objections and providing thorough answers.
The purpose of listening to the buyer is to gain as much knowledge as possible about their objection. Showing interest can also show prospects that you want to know their concerns in order to help them. Do not interrupt the buyer while he is speaking, as doing so can quickly close the deal and result in a loss of the sale.
Clarifying the objection can allow you to ask questions to gain more information. Be sure to not overwhelm the buyer with questions. It also allows you to determine if you understand the buyer to ensure there are no misunderstandings.
Respecting the concerns of the buyer demonstrates that the seller is appreciative of his concerns. It is important to not become defensive, as the buyer is not criticizing you the seller, but wants to make sure he makes the best decision for the company.
Responding to the objection is important. The seller does not just want to ignore the buyer and his concerns. It shows they value their buyer-seller relationship and will hopefully not damage the rapport that developed.