If you run a business, whether you offer a product or a service, you need sales for your business to continue to grow both in size and revenue.
Why?
You need more sales to have the money to:
– purchase factors of production
– smooth delivery
– pay your staff
– take good care of yourself and your family, etc.
You may have a fantastic product or service and still struggle with sales.
Most of the time, this occurs because your prospects have objections that you haven’t addressed.
Handling sales objections is the difference between struggling with sales and having a high demand for your product or service.
Your target audience wants to buy, but they have doubts and questions.
They’ll give you their money if you remove all the objections preventing them from buying.
The following are ten sales objections and how you can handle them:
1. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I’m not interested.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Find out the reason for their lack of interest and address any objections.
For example, you can ask them what is explicitly making them not interested and try to address that concern.
2. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I don’t have the budget for it.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Show them how your product or service can help them save money in the long run or help them generate more revenue.
Additionally, you can offer financing options or a payment plan to make the purchase more workable.
3. Objection: “I’m too busy.”
Handling: Understand their schedule and work with it.
Ask if there is a specific time that works best for them to talk, schedule a follow-up call or meeting, or offer a way to learn more about your product or service on their own time, such as a video or brochure.
4. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I’m happy with my current provider.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Ask them what they like about their current provider and try to understand what they are looking for in a product or service.
Then, show them how your offering is better or different and address any concerns they may have.
5. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I need to think about it.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Encourage them to ask follow-up questions, offer additional resources such as a brochure or video and schedule a follow-up call or meeting to discuss their decision.
6. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I’ll get back to you.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Be persistent but not pushy. Send a friendly follow-up email or call them back a few days later.
7. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “It’s too expensive.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Show them the value of the product or service and how it will benefit them in the long run.
Also, see if there is any way to offer them a special discount or flexible payment options.
8. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I want to compare with other options.”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Provide them with any additional information they need to make a decision and ask for a commitment to keep in touch.
Be prepared to proactively reach out after a certain amount of time to ask if they have decided and if there is anything else you can do to help them.
9. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I need more time”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Provide them with any additional information they need to make a decision and ask for a commitment to keep in touch.
Be prepared to proactively reach out after a certain amount of time to ask if they have made a decision and if there is anything else you can do to help them.
10. 𝙊𝙗𝙟𝙚𝙘𝙩𝙞𝙤𝙣: “I don’t know if it will work for me”
𝙃𝙖𝙣𝙙𝙡𝙞𝙣𝙜: Try to understand their specific needs and concerns, and show them how your product or service can meet those needs.
Offer a free trial or demonstration, or put them in touch with a satisfied customer who has used your product or service and achieved success.
Handling objections could be the difference between struggling with making sales or getting more sales or subscriptions than you can handle.
I hope this helps you in scaling your business in 2023.
