We might not notice, but we sale and do objection handling daily. Remember the time when you convinced your parents to buy you your first mobile phone? Let me tell you my version; after working really hard during my 10th grade, studying daily and finishing up the academic syllabus before even the exam starts, resulted in getting good marks. After the result, I got the courage to ask my parents for my first mobile phone. I deserved it. Right?
But here came some valid objections from my parent’s end. Obviously, I was not ready to get NO for an answer. I tried explaining and got success on why I need the mobile now, what values will it add in my present performance, and how a mobile phone will ease the learning process. And then seal the closure.
Every day we pitch to someone, either to your mother an idea on making a particular dish you like to objection handling on why today and not tomorrow to negotiate so that it’s a win-win for both parties.
Now when you need to master the selling technique, we shall master all the stages and aspects of sales. But most of us just focus on and master the initial pitch, as per statistics, 82% of the organisation just focus on training its sales employee only on the initial pitch and not on how to handle objections. But as per a famous saying, ‘Nothing defeats an inexperienced salesperson faster than an unexpected objection’. This is the reason why we need to master the art of objection handling.
In this article, we will understand that what is objections, how to handle those objections, why having objections is a good thing to have and different type of objections and their script.
What are Objections in Sales?
A sales objection is a counter-argument from your lead or potential client either seeking clarity on the benefits and credibility of the product or any possible issue which is holding himself to take the decision in your favour now. It could be due to pricing or the lack of time, or the client is unsure of the decision himself.
If we believe them, trust me, not even a single salesperson across the world will achieve its target. One must master the art of objection handling. But…..
What is Objection Handling?
Objection handling is nothing but catering to the concerns raised by the prospect in order to move the sales process to the next level. The concerns could be of different types, product clarity, pricing, competitors, avoiding the closure. A salesperson needs to handle such objections so that it is resolved effectively and is a win-win situation for both parties.
Having objections from the prospect is a good thing to have; remember school days, having doubt in a particular topic was a sign that we paid attention in class. Similarly having objections primarily tells you that the buyer is actually interested in your product or services. Or else why would he seek more clarity and listened to your pitch so clearly. Also, it helps you to understand the prospect and his needs. Objections drive the flow of conversation, and once all the concerns of prospects, we are good to go and close the deal.
There are different kinds of objection we face, Some of the most common objection handling examples are:-
‘I don’t have money.’
‘Your competitor is offering better pricing.’
‘I’ll get back to you.’
‘I don’t have time.’
‘I have to talk to my ….’
‘I don’t know’ ( Trust )
‘Mail me everything.’
STEP BY STEP SCRIPT FOR HANDLING OBJECTION
Every objection is unique, and thus every objection haling is also customised. But the flow to resolve any concern have a particular flow. Here is the step by step script on how you handle any objection
STEP 1. Patiently listen to the Objection
Don’t jump in and start to respond to the objection before the prospect is finished expressing his concern. Listening is one critical skill. Actively listen to what the prospect says and try to understand what’s in his mind.
STEP 2. REPEAT WHAT YOU COMPREHEND
Never shy to ask and check with the prospect whether what you comprehend the concern correctly. It’s better to ask rather than resolving the problem the prospect did not have.
STEP 3. VALIDATE AND ASK PROBING QUESTIONS
So instead of directly resolving the doubt, ask the question on his concern and problem. What he did, what step he took earlier to fix this. He won’t be waiting for you to come and resolve is concerns. ASK
STEP 4. ADD VALUE
Make sure you answer in such a way that you add value to the conversation keeping in mind the objection. You are providing a solution to his problem. And Value should always be greater than the price you are charging.
STEP 5. ENSURE YOU HETHE PRODUCT AND USP CLEARLY
The salesperson should completely know his product and the USP in every aspect. The right USP Should be given at every moment.
STEP 5. ASK WHETHER PROSPECT ARE SATISFIED OR HAVE A FOLLOW UP QUESTIONS
STEP 6. END WITH CALL TO ACTION
Once the Objection handling session is done, always end with follow up and call to action. You should know what’s the next stage.
You need always to train yourself on Objection handling. With experience, one becomes the master of objection handling. If you need guidance and requires a one on one counselling ping me on linkedIn here