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Small Business Opportunities | Overcoming Common Sales Objections
minti • 24 May 2017
Whether you have been the customer or the salesperson, you know how often a sales meeting ends in failure. This isn’t always something you can help; some prospective customers enter the conversation with absolutely no intention of making a purchase and are just gathering information. But what about when we encounter customers who we sense are prepared to buy but keep raising objections and questions? Today we’re going to discuss the most common sales objections and how to address them when they crop up.
Remember, every customer is different and has their own reasons for raising questions or doubts. It is important that before you begin your sales pitch, you talk to the customer about their business; what goals they have set themselves, how they handle different things such as marketing, or customer retention. Let them talk and don’t begin trying to sell to them until you have a firm idea of what they want and need. Once you have this information you are ready to tackle their objections and close your sale.
- Objection 1 ‘I can’t afford this, why is this so expensive?’ It’s common for a business owner, especially those with a tight budget, to challenge you on the cost of your product or try and negotiate a lower price.
- Response 1 Challenge this with facts. Prepare a breakdown of your total cost that clearly explains what each penny will pay for, and be ready to explain the potential return on investment for the business owner. Your customer needs to see the value in your product and the best way to show this is to explain how their investment now will pay for its self over time. Don’t just insist your product is worth the price, show them why it is.
- Objection 2 ‘I can get this product from someone else for much cheaper!’ Customers are free to do their research and they might have found something that is more affordable, or has a pricing structure they feel is more manageable.
- Response 2 Take a positive note from this; if they are looking at other options, it means they are definitely interested. It helps to be knowledgeable about your competition so you can explain and compare your different features and of course, costs. Don’t fall into the trap of just bad mouthing another business. Be prepared to clearly explain why you are offering something better or more valuable.
- Objection 3 ‘I don’t want to change how I do things, I’ve done it this way for years and it’s worked for me!’ Change is scary, especially if what you are offering is a significant upgrade or modernisation to their old system.
- Response 3 Acknowledge their concerns up front and position yourself as an advisor. Provide information on how your product can improve their business. This could be testimonials from other businesses you have worked with, or you could talk them through the growth and popularity of the product you are offering and how it can help them. If you can show them how your product works or how simple it is to use you can go a long way in quelling these concerns.
- Objection 4 ‘What are your credentials? How do I know you are experienced enough to help me?’ Customers have no obligation to trust you just because you are friendly and you know a little more than them. They are investing in you, so they are allowed to challenge your experience.
- Response 4 Earlier, we discussed getting to know your customer before you start your pitch. This is also where you start to build trust and lay the groundwork for a positive relationship between you and your customer. Bring case reports, testimonials and references to any meeting you have with a potential new client, or be prepared to make them available. Allow your prospective customer to ask you questions and make sure you can provide informed answers. Don’t just throw big words and technical jargon’ at your customer, and don’t talk down to them either.
When trying to sell to prospective customers, it’s important to remember that they are not trying to be awkward or waste your time. They have worked hard to grow their business and they want to be sure that they are making the right decisions. By being well informed and open with the facts you will reassure your potential customers that you are offering not only the best product, but the best service to go along with it.
Are you interested in small business opportunites ? At Eazi-Apps, we respect the years of skills and experience that you possess. Our aim is to build on what you can already do to ensure you the best possible chance at success.
To find out more about how Eazi-Apps can help you offer solutions to small businesses, contact us today.
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