When you are in the business of selling, you will definitely be faced with a lot of objections and rejections from clients. In fact, you will be rejected more times than accepted. You cannot let these set you back or demotivate you. You have to brace yourself for different types of issues the client might raise in order to not buy your product, but you have to sell. You cannot give up and move on. Therein lies your expertise and efficiency as a salesperson.
This article highlights the different objections raised by clients for not buying the product and how to handle such situations.
'it is too expensive', ‘we can't afford it’- every salesperson hears this reaction from clients on most occasions after pitching a product. Some clients say this just to get out of the situation even when the price is affordable. There could be several reasons for the potential client to come up with this objection.
One could be that your product is over-valued for that particular market or the client’s need does not match the value of the product. Another reason is that the prospective client cannot understand the actual value of the product. The strategy to successfully overcome this objection is to reveal the value of the product first before bringing in the price.
Even before pitching the product, you need to understand the needs of the client and how your product can offer solutions. Tell the prospective client what you can give before telling what you will take for that. If the client understands the value of the product and how it can benefit himself or his business, he will more likely be open to the pricing and may consider paying even a little more for that value.
"I don’t need this", "I will think about it later"- This is the second most common kind of reaction salespeople get from leads or contacts.As a person trying to sell your product, you have to create the need in the minds of the leads – and that can be done when you understand it yourself. This knowledge will be revealed to you through dialogue with the prospective client. Engage the person in a conversation and ask relevant questions. The answers will help you to know the person’s current or future plans and make him realize how the purchase of your product right now will be beneficial to him. You have to make him consider the loss if he does not buy your product now – for example, losing out on the discounted rates currently available, losing out on the advantage they can get by shifting to the new technology now and so on. By making the potential client think of a need he had not thought of earlier is going to increase the value of your product in his mind and he may start thinking of a purchase.
This is another objection issue that salespeople often come across from potential buyers – the reason they give for not buying the product is that they cannot authorize the purchase since they are not the decision makers. After explaining about your product in detail you realize that the person you were talking to is not the actual buyer. A husband may want to consult with his wife, a junior executive will need his boss’s approval. In such a situation you should try to engage with the actual buyer or the more influential partner.
You should try to impress the person you met with initially and get him or her interested in your product – that person will more likely put in a favorable word to his or her superior or spouse. In case you feel that your initial contact person has no influence at all then you should not waste time trying to convince him or her about the purchase and should directly talk to the decision-maker as soon as possible.
Sometimes people become comfortable and secure using a product. They just don’t want to change. For this reason, they do not want to switch to some other product even if they are not totally satisfied with their current choice.
Here again you will need your convincing skills to make the potential client realize how your product is better than the product they are using currently. You as a salesperson have to dig a little deeper and question the potential client’s choices and their satisfaction levels regarding the product they are using currently. Once you can get the prospect to start thinking about switching – your half the battle is won.
Many people tend to shy away from products which are difficult to grasp – it requires a lot of effort to understand the complexities. You have to gauge this situation with your potential clients and adjust your pitch accordingly. If you feel the prospective customer is losing interest, it could be because he or she is finding it difficult to comprehend. You have to make the matters simple and explain things as per their level of knowledge in that field.
Negative experiences leave a bad taste. Your potential client may have had a bad experience with a previous broker or similar product or even with you in the past. He or she is coming to the table with a negative mind-set – your job is to first help him express all his grievances and issues about the previous person or product. Through this process you will be able to understand the potential client’s preferences and needs. Then convince him to see how your product is different or your services are different and can match with what he is looking for.
Some people like to remain stuck in the past – they don’t want to change. These people can be difficult as clients and need more convincing to consider something different. They have been using something all along and it is still working, why should they change. When you come across this attitude, you have to take a call – whether it is worth your efforts to convince such a stubborn client or just walk out of it. These kinds of clients would be difficult to work with in the future as well.
Some people find it difficult to take a decision by themselves – they need the approval of their family members, friends, colleagues etc. If the potential client is a member of a committee, he or she needs the nod from other board members. In this situation, you can only meet the potential client in person and not his whole support team. So, you have to supply that person with every possible piece of information so that he will have an answer to every query from his team. If his or her support team is satisfied, he or she will have the confidence to go ahead with the deal.
It is all a mind-game – understanding the potential client’s mind through the objections raised by them. Thereon apply the best suited strategy and steer them towards closing the deal.