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In a previous blog I outlined 5 steps to handling objections or concerns which is how I prefer to approach them,
but if you are just handling them, you are missing a great opportunity to increase your close rate and
shorten your sales cycle.
Essentially, most objections/concerns are, first and foremost,
an indication that at some level the prospect has or is considering buying your
product/service and as sales professionals we should welcome these
opportunities to progress the sale.
Even as a consultative or strategic
seller, at some stage within the sale process, prospects will raise concerns
about how your product or service will meet their needs and fit into their business.
It is these concerns that should then become the foundation for the rest of
your pitch. By identifying and putting to rest prospects concerns you are far
more likely to close the sale. In addition, if you can uncover and deal with
the majority of their concerns early on within the sale process, you are also likely
to reduce the length (time) of the sales cycle.
The main reason why it’s so
important to work through objections/concerns is because it helps you quite
naturally work toward a really strong close, the kind where the prospect
themselves realise they are out of reasons not to buy.
Personally, I always press a
prospect to uncover any concerns they have in my initial presentation. If I can
deal with them then and there, I can generally be at the negotiation stage of
the process within that first meeting. Even if I can’t overcome their concerns
there and then, I would rather know exactly what I need to answer in our next
correspondence, then having walked out of the meeting leaving a prospect with
unaired concerns.
How often have you been in that
situation where you never hear back from a prospect, despite having initially
thought that you nailed the presentation?
I would suggest more often than not
it is because you left the prospect with concerns, which unanswered, can lead
the prospect to discount your offering, or worse still, choose a competitor
because they did a better job addressing their concerns.
Objections often provide another valuable
insight, FEAR. It is not uncommon for a prospects objection to reveal broader
business issues, which can then be leveraged to your advantage.
With all the positives that can be
gained from uncovering and then working through prospects concerns, it poses a
big question. If it’s so effective why does everyone not do it. Easy answer,
FEAR. All too often a sales representative will walk out of meeting without
pressing for objections/concerns because they don’t want to hear them. It’s the
fear that a concern may uncover a flaw in your pitch or a mismatch with your
product and the prospects needs.
But consider this- what should you
be more scared of- wasting time on a prospect that’s not right for the business
or a little rejection which can actually bring closure and allow you to move to
potentially more prosperous prospects?
As always Only My Opinion and I
would love your thoughts, comments and or abuse.
