Crush The 15 Common Sales Objections To Steal The Next Deal
Sales objection is most common in the sales process. To win any sales, you need to overcome all the objections in the sale cycle. Handling objections often decides whether your business will gain new customers and lose opportunities. Objections come in all shapes and sizes. They can be anything like price, purchase ability, value, relevance, situation, and more throughout the buying process.
We all know that objections are a natural part of selling, but they can be very frustrating when you're trying to move prospects through your pipeline. In this article, we shall see the 15 most common sales objections to steel the next deal and how to handle sales objection from potential buyers like a pro on your next deal.
What Is A Sales Objection?
Sales objections are normal in B2B sales. When you think of sales objections the first thought that comes to mind is NO. They indicate that a buyer isn't ready to buy immediately from you for some particular reason.
For example, you may be asked if you are selling something they don't want. You should always answer this question honestly. Don't give them false information, leading to bad feelings towards your company. Also, be prepared for objections to come up during the sales call. Some customers can be challenging to convince and a successful sale is filled with ups, downs, and objections. So be ready to handle objections.
What Is Known as a Sales Rebuttal?
A sales rebuttal is a strategic answer to any objection that a salesperson says to the objecting lead to overcome the objection and move the deal forward. The ingredients of a good rebuttal are an acknowledgment of the objection, which makes the lead feel listened to, and a fact-based reason why the objection may be unfounded. This tandem works to help the prospects see that they may be wrong in their thinking about a product or service’s shortcomings.
In order to overcome an objection in your sales pipeline, you need an honest response to your customer. Imagine some objections from people might be of prices at first. But after seeing the return on investment over the next year, they'll see it's worth it. For example, if a prospects says "Its not worth the price" then you can convince the customer by referencing your current customer "A lot of clients felt that way at first but after the year when they saw upwards of 10K$ in Return on Investment ROI, they were sure of its worth.
Why Is Objection Handling Important?
Handling objections is a natural but frustrating fact of sales life. Salespeople must be aware of what others think, understand how to gain knowledge about other people, and ask thought-provoking questions.
Dealing with objections is a necessary part of the sales process. Not addressing them will lead to deals being lost. It becomes more critical if potential customers continue to hold up an objection through the final stages.
Sales reps need to overcome sales objections by having a list of common sales objections and common sales objective responses. Then, when making sales calls or meeting with clients, they should ask questions to determine any sales objections before asking for the sale.
Handling objections is essential to make a sales success. Failure to address objections can lead to missed opportunities for the business. Businesses can overcome any objections before they're even expressed by guiding sellers or the sales team.
It is a great way to break through potential buyer's reluctance. While predicting every obstacle, you can solve most of the most common sales objections with responses to the customers. In addition, sales CRM automation helps close deals faster by automating handling objections.
Different Types Of Sales Objections
In the sales process, you may find some objections in the sales process, but don't worry. We've provided some example objections to get you started. That helps you to come up with more ways to answer sales objections. Here are some common types of objections.
Lack of Need
A business is selective in making purchases, so prospects will not buy your product if they don't see a need for it. This provides an opportunity for a sales representative to ask about the potential customer's current issues and what their business needs to address. Sales reps need to sell the benefits of the product/service instead of its cost. This type of sales objection grants the opportunity for representatives to learn more about what current issues are business-facing and how your offerings will resolve them.
Lack of priority
Lack of priority is another common reason when offers the prospects don't have extra time or lack of time to invest in your product or service. At this time, the sales reps need to use this sales injection to get information about their current priorities and determine whether there is any fit for your offerings. This objection is time-related; it is good to have follow-up calls or meeting email follow-ups. Getting more information about the problem is before you start selling to them. Don't waste your time selling something to someone who doesn't care enough to buy it.
Lack of trust
Lack of trust is another reason buyers won't buy from you. So you need to convince the potential buyer that your offerings are trustworthy. Buyers usually prefer sellers they know. This means sales reps should take this opportunity to familiarize their prospects with both the company and product. This type of sales objection calls for sales reps to sell the company's values.
Lack of Budget
Every B2B salesperson has this type of sales objection. Prospects need to feel confident about the price they're paying because every purchase comes with risks. So instead of selling the product's price or lowering it, sales reps can respond to these types of sales objections.
To overcome pricing objections, you want to make prospects know how your offerings are worth the price before they buy, so you can explain how much more value there really is in what you are offering than other company's products or services.
Competition can influence buyers' opinions before sales representatives make the call. When prospects mention competitors, it means that they're comparing you to other companies. Being aware of competitive offers can help the sales representative shift their focus on the competitive advantage. The sales rep can convince them why you are better than the competition.
An Effective Method for Objection Handling
The key to overcoming sales objectives is to ensure you respond appropriately. Avoid reacting impulsively to the potential customer's objection instead, come up with a positive way approach and give them a relevant answer to their objection. Before we look into the most common sales objections, let’s discuss the primary techniques utilized to overcome them. Here are some helpful strategies for objecting to handle different needs.
The foremost thing is to stay patient. You won’t likely find more success if you are too reactive or impatient because your prospect will feel pressure, making them stop talking altogether. Instead, taking a more understanding approach will likely lead to better results.
The salesperson will usually treat overcoming objections as a desperate race and is keen to solve the objection quickly as possible. You’ll likely uncover more sales hits with a more patient and understanding approach.
You won’t likely find more success if you are too reactive or impatient because your prospect will feel pressure, making them stop talking altogether. So one trick to positively influence the person you're speaking with is to be patient.
Some people are too eager and ask questions quickly, and they can avoid objections and close deals faster but taking a more understanding approach will likely lead to better results.
Practice active listening
Active listening is an important tool when interacting with your customers or potential customers. It can help create an understanding of the person's needs and make your customer feel respected and valued.
When you actively listen to your buyers, they feel respected. Plus, you’ll get more information about what they want. So make sure you avoid interrupting them while speaking and give them the floor.
Listening without interruption when speaking with others will make you more friendly and make the person feel like their thoughts are valued in their concerts. Through listening, you can also build trust between yourself and prospects.
Salespeople with active listening skills help them to understand prospects more. It enables them to understand and respond compassionately to their customers. When you listen to your customers, they will feel respected. Plus, you’ll get more information about what they want.
Validate your prospect's concerns
Instead of denying objections instantly, it can be better to validate the concern first. A better effective strategy to validate sales objections rather than refuting them will build a rapport. A simple statement like 'I understand our product is outside of your usual budget', or 'I get you're busy, and I don't want to waste your time shows compassion and will be much more likely to keep the sales conversation going.
Leverage social proof
Social proof is an excellent strategy. For example, sharing the story of the current customer who went on to success, good reviews, testimonials, and their experience with the brand will build trust in your brand on offerings.
In B2B sales, you can also share information about your prospect's competitors and how your product or services overcome similar challenges.
Based on the current prospect concern, sharing another customer's similar challenges in the form of stories will enable the potential buyers to relate how your product can succeed.
Ask follow-up questions/ follow up meetings
Sometimes businesses can’t address the objection through single meetings. It is good to consider follow-up meetings to offer valuable information and answer their queries appropriately with data. So here is some guide to send follow-up emails after the meeting.
Giving your prospect the space and time they need is important. It will help the prospect to make an informed decision, but don't let them linger too long. Instead, follow up with a specific date or deadline to make sure you stay on top of things.
If you sense that if you are close to sales, consider setting up a follow-up appointment or sending them one last email before moving on with other prospects. Again, focus on the people who are likely interested in taking action now rather than later (you can always ask these people what’ll happen if everything goes according to their plan).
An effective technique for handling the sales objection is by anticipating the objection. Once your team is prepared for objections, they can easily tackle them. It's important to know the specific objections that come up most often. Once you know what to expect, you can spend your time preparing and perfecting your responses.
Go For An Thoughtful Open-Ended Questions
Ask thoughtful, open-ended questions for prospect's points and offer them a solution. You need to find the core of your customer's pain points to handle objections that arise from prospects to avoid the one answers like "yes" or “no."
Open-ended questions enable you to get your prospect's perspective on the issue. It will help the sales reps to understand their pain points better. The ability to address your prospect's underlying issues can make a difference. The ability to ask questions can help you get to the core of any objections your prospects raise.
15 Most Common Objections To Close Your Next Deal
1. Price objections or When they say Too Expensive
Pricing is one of the common objections in sales. Price is a major consideration in any purchase. or in the decision-making process. You could justify the cost by explaining how it benefits or returns on investment (ROI), negotiate lower rates with your prospect if possible/ necessary come up short by finding other cost cuts to make things balance out.
2. Prospects don’t have the budget
When the prospect has a cash flow issue, you may get the no money objection similar to the expensive objection. But you can solve it over time. This is a standard concern for many new businesses. They may have limited funds, and if your product or service costs more than what was allotted, the customer has little power to speak up about it.
You can always try talking with someone higher-up and justify your price before moving towards approval. If your prospect's cash flow issues, give a follow-up call with the executives and ensure a budget.
3. When the contract is too long
A common risk is the length of the contract. If you can shorten it or add more flexibility, you may appease the potential buyer. For example, suppose you are having a longer version of signing up. If prospects are concerned about length, then holding them back from purchasing your products/service, offer an incentive or some other consideration in return when it comes time for contract signature that should do wonders.
4. Prospects already work with your competitor
If the prospect is already working with your competitor, try out a different approach. Discover what they don’t like on the competitor offerings and find a way to position your product favorably. In other words, it could be advantageous to find out what they don't like about their current solution and compare that to your solution. For example, a competitor's product does not offer an A/B testing feature, and your solution does.
5. Not having authority to buy or make a purchase decision
Try to get in touch with the right person or decision-maker. You can't sell to a person who is not in the decision-making position, so ask them who can make the call. Or you can check with the connected person to whom your business can reach out.
6. If satisfied with what they have already
To overcome this, it's important to identify any drawbacks or problems your prospect might have before selling. Then, show them how your offerings will resolve their challenges, or you need to explain how your offers are better than the competitors, which will lead to generate sales.
Any business can offer something with no drawbacks. You need to recognize what your prospect's existing solution lacks and then show them how your offerings will solve that problem or make it easier on the decision-making.
7. While they are busy
Many companies avoid purchases during especially busy times because their inventory is low. If a business is currently experiencing high demand or at a busy time, it may be wise for them not to purchase your product. But if you can show how your service will help during busy times and make their lives easier in the process. This will find you with an order on hand.
8. Never heard about your brand
It would be frustrating when someone declines your offer because they’re not familiar with the brand. In such a situation introducing yourself to outbound sales prospects is a significant way of getting them on board with your brand. In addition, you'll have more success if you can explain the values behind your offerings, which should make for much easier conversion rates.
Create an opportunity to introduce yourself and your brand. To avoid losing prospects, you must familiarize your brand with the target audience by educating them on the advantages and values of your offerings.
This type of response might occur when generating new leads through outbound sales. Take this moment as an excellent chance for introduction purposes and perhaps even some education about your product/service offerings.
9. Trust objection
Nearly 9 in 10 people prefer to purchase from an established brand or company. Today we are in a buyer-centric world. As a result, prospects are more demanding than ever before. They want to ensure that they're getting a product from a reputable company. The prospect's "trust" objection is just an opportunity for you to provide more information and reassurance about your product.
The stats say that almost 60% of the B2B buyers meet the prospects' trust objections. So after you hear a trust objection, take a deep breath and tell the prospect: "That's completely valid. Why trust is a tough barrier if you're a startup business, overcoming a trust objection will be one of the most difficult hindrances you'll come across with prospects.
Overcoming a prospect's trust objection is one of the hardest barriers you'll come across with prospects. You need to take deep breaths and remain professional no matter what they say.
Building values and credibility in startups helps make up for any shortfalls and quickly convinces people.
10. We do not have the pain you are referring to
There are many reasons why people might object to this. For example, they could actually need your product but just haven't realized it yet, or maybe they have had bad experiences with other products in the past and don’t want to try again because of fear.
Often hear this initial objection because prospects haven't realized they're experiencing a problem yet, or they haven't taken the time to know how your product could help them. It's important not to take this objection too seriously. Instead, share how your solutions will be most effective in that area of their business.
11. The product is too complex
In b2b sales, many companies think their product is too hard to use. This could be a barrier for potential buyers to enter into the sales cycle. Make it more likely that users will want to try your product out. Make the product as easy as possible for them to get started with you. For example, give them a demo or link them to a tutorial.
Offering a demo or tutorial will surprise the user with how easy your product is. In addition, offering a trial or demo of your product will make the user try out before purchasing or getting started as paid users.
12. I'm happy with My current product (Your Competitor X)
Suppose the customer sounds pretty satisfied with the current partner, then learn more about the competitor and compare your offerings.
In this situation, respond like good to hear from you. It seems like our products are similar in some ways but different too. List out the unique features of your product offerings and brief them on why your product or service would be best for them.
13. When Prospect States Product X is Cheaper
When a target refers to your competitors, you need to see them as an opportunity for your business. Occasionally, the prospects will try to shut you down by referring to your competitors. However, there's also a good chance that having a true comparison with a competitor can help your brand identify missed opportunities and spark new ideas. Competition is a great resource for identifying opportunities that your own company may have overlooked. If you're lucky enough to be competing with another firm, use this chance wisely and get an edge on them by spotting potential new products or services.
14. Not interested Targets
If you’ve been in sales a long time, you might know that sometimes the simplest prospects can be the hardest sell. So when someone says they aren't interested, your best chance is to find out what else might interest them and keep asking questions until you get a response or two from this person, so the business doesn't lose any potential clients.
Want to get more sales without spending too much time or money on it. The best tips & science-backed B2B cold email templates help generate leads and convert them into customers.
15. If the prospect asks for a quote/more information
If your prospect doesn't want to hear more sales pitch from you, it's best to get what they need and then let go. However, if the conversation continues beyond this point, there can be some benefits in continuing discussions with prospects who seem interested, even though their response was brief at first glance. Sometimes, these conversations lead us down new paths where our inquiries may produce a sale or two.
Sales Objections is an opportunity to know more about your buyer and their needs. You can overcome any objection and close the deal with a little preparation. In this article, you come across various common sales objections to steal the next sales deal, and these examples will help you handle the current situation in more creative ways.
Explore the most common objections and how to overcome them, and this will help you to close the next deal more confidently. If the objection is "I need more time to think about it" This objection is often used as a stall tactic by buyers who are not yet ready to make a decision. In this situation, you can ask for the timeline for their decision. In some scenarios, the customer says, "It's too expensive" When you face this objection, try emphasizing your product or service value compared to the cost.