Let’s say you have a potential face, and you decide to get in touch with them. From excitement to nervousness and everything in between, you experience a spectrum of emotions as the phone rings.
Maybe you have a tried-and-tested script to help you out. Perhaps you are confident about your product. But all this goes down the drain when you face a firm rejection.
So, should you give up and move on to the next customer?
No, because if you keep giving up after every sales objection, you will soon be left with no customers at all. And that’s not an ideal scenario!
The good news is that with a bit of tact, you, too, can handle this tricky situation smoothly and close more sales deals effortlessly.
Let’s dive in!
1. Your product is too expensive
The most common reason for a refusal is usually price objection.
There can be instances where potential prospects may express concerns about the cost of your product or service. It can be disheartening, of course! Here, objection handling is crucial. You must try to take away the focus from the pricing and bring it to the value of your solution.
So, how to handle objections? Emphasize your solution's advantages to the customer and elaborate on how it offers a strong return on investment.
When you unpack the long-term benefits and cost savings of your offering, the deal starts making sense to your audience and can help them understand that it's an investment rather than an expense.
2. This is not the right time
The second common sales obstacle requiring your objection-handling skills is when customers cite poor timing as a reason to delay or reject a purchase.
In most cases, you may feel dejected. But, when it comes to objection handling, giving up easily is not an option.
So, how to handle objections here? Well, address the reason first. Next, put your focus on highlighting the immediate advantages your product offers.
In fact, to give you a slight edge, you can use Fireflies.ai, your ally who helps you out. Use Fireflies to track important phrases like competition, pricing, or budget and see how your peers tackle these objections to close deals.
Brian Kremer
Fireflies.ai helps you dig deep and understand the language and strategies you could have used to resonate with your audience. This way, you can analyze and customize your response and ensure your pitch aligns seamlessly with the customer's timeline.
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Try it for free!3. Don't need the product
When a prospect claims they don't need your product, it doesn't mean you take the no at face value. Instead, it's time to dive deeper to understand their pain points. So, how to handle objections?
Tweak your responses by showing how your solution directly addresses their specific challenges. Here, Fireflies.ai can be your best friend.
It transcribes and analyzes conversations, helping you uncover robust pitches as per prospect's pain points. This can be one of the best ways to add more nuance to your objection handling.
This approach adds a personal touch, which is always a great way to win over your customers.
Krish Ramineni
4. Happy with the competition
What if your potential prospect is happy with the competition? So, how to handle objections in sales calls in this situation?
It's quite simple, actually. When faced with this particular situation, you must embrace the objection-handling technique to underline what sets your product apart.
Express your unique selling points and show the potential buyer how your solution outshines competitors.
You can also seamlessly integrate Fireflies.ai to analyze conversations where competitors were mentioned. This can help you dig deep and understand what you can do to stand out!
5. Don’t trust your product
How do you handle objections in sales calls when trust is in play?
This objection-handling technique is simple. So, when you are confronted with a lack of trust, it's time to build credibility.
How do you do it?
By sharing persuasive customer success stories and testimonials. Now, it shouldn't look like you are tooting your own horn. Instead, make sure you speak honestly to influence your potential buyer.
6. Don't hold the authority to make decisions
This is another common occurrence. Sometimes, your prospect may object, saying they aren't the best person to have this conversation with.
But you cannot simply bid them goodbye here. Chances are, the one who holds the authority is busy and may not have time for you. But at least when you have a conversation with someone from their team, you have a chance to win them over.
So, instead of hanging up and moving on, politely acknowledge their position. You can express your understanding and then ask for guidance on who within their team or network might be the ideal contact.
This not only keeps the conversation alive but also opens doors for valuable connections within the prospect's organization.
7. A cheaper version of the same product is available
When the prospect says that they can find the same product or service for a cheaper price, you must navigate carefully. For this objection handling, it is important to first decode what the buyer is trying to say. Are you up against your competitor here? Or is the buyer fishing for discounts?
If you think it is the former, try wooing your prospect with a discount. But if it is the latter, highlight the benefits of your product. Put the spotlight on your product's worth and not its cost.
You can also incorporate Fireflies.ai to analyze your conversations where price comparisons were addressed. This helps you decode patterns and understand the areas for improvement. Analyzing conversations helps you do better the next time.
Soorya Radhakrishnan
8. We have a lot on our plate
You try to strike up a conversation with your prospect. But they say there is too much going on. What would be your objection-handling technique in this common scenario? Well, you can ask your prospect what their main priorities are.
Once they tell you, focus on your product's immediate benefits and time-saving aspects. Otherwise, set a date for a follow-up so you stay fresh on their minds.
Ayush Kudesia
9. Never heard of your organization
When prospects express they've never heard of your organization, it's okay. Use this as an opportunity to build awareness and credibility surrounding your company and product.
This objection-handling method can be a great way to spread the word about your brand.
The idea is to turn a lack of familiarity into an informative introduction. However, making a great first impression can lead to a positive perception of your brand.
10. Product is very complicated
When prospects perceive your product as too complicated, the objection-handling technique you must embrace is to simplify it. Keep your explanations clear and highlight all user-friendly features in an easy-to-understand manner.
Break down your product's functionality into digestible components and share user success stories that help them understand how beneficial your product is.
Automate notes and boost sales productivity with AI
Objection handling is no less than an art. However, with the help of a little practice, anyone can master it.
That said, to kickstart this journey, we unpacked all the common objections so you can embark on a successful journey toward closing more deals.
Fireflies.ai is a game-changer.
It is your ultimate tool for converting leads. With its transcription and analysis capabilities, Fireflies.ai boosts your sales journey and offers in-depth insights derived from objection-handling conversations.
You can also use this tool to enhance your objection-handling skills, personalize customer interactions, and close more deals successfully.
