Handling Objections
1. Ask for Objections
While you are giving your presentation you’ll want to offer some trial closes. These are quick and small statements to feel out your customer on what they are thinking. The objective is to find out if the customer has any objections. The questions can be closed-ended, so you can get either a positive “yes” or negative “no” to your question. If you get a positive response, then you can just continue with your presentation or close the sale. If you get a negative response, then this is your opportunity to find out what the objection is and how you can overcome it.
Examples of Closed-Ended Trail Closes:
“Don’t you think she will like this?”
“Does this fit your needs?”
“Will this work for you?”
2. Listen to the Objections
When you get an objection listen to the objection. Make sure you understand what the customer wants to know or doesn’t understand. There are usually two reasons for an objection. It will either be an objection of value or price. When a customer objects to value, then they still do not understand the product's features and benefits or their need for the product or service you are offering. When the customer objects to price they see the value, but they need to understand the cost, how they can pay, and how it will fit in their budget.
3a. To answer an objection to value use features and benefits in more detail. You may need to explain more about the product or service, why they should buy the product or service from your company or why they need your product or service.
If their objection is one that you can’t answer or don’t have enough knowledge to answer, then you have two choices: be honest or lie. You can either be honest with your customer that you don’t know the answer, but you will get the answer for them. The other option is to just lie to the customer and make something up. I think you know what is best. Be honest and tell the customer you will get the information or get someone who has the answer.
3b. If the customer’s objection is to price based on budget concerns, then you have to help that customer with their budget. You may need to use many different methods. Some might be as simple as using financing, layaway, payment plans, or slight price adjustments. It may required selling down the customer to a price more suited to their budget. It may also require you showing the financial benefits or cost savings that your product or service will create for your customer. Your job is to get your product or service to fit their budget.
Customer’s objection to price may be that they just want a deal. Every customer wants to feel that they are getting the best possible price, even if the price is within their budget. They see the value, but want more. Depending on your product or service you have many options. You can offer a discount or price adjustment. You can offer special financing or payment plans. You can offer extra products or services. You can get a supervisor or teammate involved. Sometimes the customer just wants another person to say this is the price. You can stand firm on your price. The choice is yours.
Once you overcome the objections you can Close the Sale.
