Top-performing sales reps close more deals because they respond proactively to client objections. Use these objection response strategies, and reap the benefits.
- Objection 1: "Your price is too high. I can get it cheaper somewhere else."
The Response: If what you're charging is truly reasonable, then avoid the urge to lower the price. Instead, do a better job of communicating the value you're offering. Explain that the price includes your standout service – guarantees on quality, delivery and creative branding concepts. Consider breaking these costs down into smaller amounts so the buyer can better understand and justify the expense.
- Objection 2: "This seems good, but I have to check with my boss/business partner first."
The Response: The best way to avoid this objection is to ensure ahead of time that you are meeting with the person or people empowered to make the buying decision. Still, if you hear this objection, say you respect the prospect's wish and then ask if there is additional information you can provide that the other person may be interested in. Then, keep yourself in the game by offering to participate in the conversation your contact person is having with his partner.
- Objection 3: "We do a lot of marketing and advertising already. I don't think swag is going to help us."
The Response: Provide facts and data, such as the reality that promotional products deliver commanding advertising recall among 85% of consumers, according to ASI's 2014 Impressions Study. Also, explain that the cost-per-impression of logoed products is about a half-cent – far less than many other advertising mediums. Bring these stats to life with client success stories and testimonials.
Share client success stories – videos would be especially good.
- Objection 4: "I already buy this kind of stuff from my brother-in-law."
The Response: You may not be able to cut out a competitor who is related to or good friends with a buyer. However, you can ask questions aimed at finding out just what the competitor is providing. Then, propose solutions that augment these offerings. Similarly, try to fill in gaps your competitor is missing. Is the other rep only selling the buyer hard goods? Then maybe there is a chance for you to score apparel business. If the prospect remains closed to working with you, invite them to think of you as a viable second option and to call if they ever need anything their current provider can't deliver.
- Objection 5: "I'm comfortable with the company I already work with."
The Response: This is similar to Objection 4, but the lack of a familial relationship or strong friendship means there is more opportunity for you to win over the prospect. So, ask buyers how they would like their marketing efforts to be improved, along with similar questions. Once you uncover their pain points and ideal marketing aims, explain how you are uniquely positioned to provide the ROI they desire. Share client success stories – videos would be especially good – in which customers explain in their own words how their marketing became more impactful after they started working with you. If a buyer still balks, propose that she give you a try on just one order so she can judge the difference.
Watch this video where Jeffrey Gitomer, business author and sales trainer, reveals ways to overcome buyer objections. http://goo.gl/tNnd9H
Secrets of A Master Closer by Mike Kaplan for practical success strategies that will help you close more deals.
Reflect on a recent encounter in which a prospect raised an objection. Write down what you did well in handling the situation and how you could have addressed the issue even more effectively.