Objection #1: “I need to show this to my (partner, boss, etc..)”
How frustrating is it to finally ask for the deal and get put off with the “I need to show this to my…………” objection? Prospects have been using this objection forever because it blows off 80% of the people who try and close them. Below you’ll learn how the Top 20% handle and overcome it.
The first thing to do with this and other objections is to make sure this is a real objection and not a smokescreen or a put off. And the way you do that is by questioning and isolating the objection first. Do this by first listening completely to what your prospect says and then by responding with: “That is perfectly fine, (Prospect’s name). I think you should show this to (whomever they claim they need to show this to). Let me ask you something—if after you show this to _______, he/she says ‘It looks good _________ whatever you want to do,’ is this something that YOU would move forward with today?”
Now be aware that any answer other than yes means that this objection is just a smokescreen and you haven’t uncovered the real objection, and you will have to keep qualifying.
On the other hand, if your prospect says he would move forward on this today, then you’ve got to confirm this and make him your ally. Say: “Great, then I take it you’re going to recommend this to _______, right? Wonderful! What can WE do to make sure he agrees with us?”
Do you see how you’ve now made your prospect an ally and how you are now a team?
Listen carefully to what your prospect says, because if they are truly sold on your solution, they might tell you what you now need to do to close the sale. Offer to do a three-way conference call, or to call and speak to the real decision maker directly. Ask about specific follow-up times for additional information that you can provide them with. And always ask what the next step will be and get a definite timeframe for follow up. The bottom line is that when you get this (and most) objections, they are either the real objection or they are smokescreens for the real objection. The problem that 80% of the sales reps make is they don’t question the objection and so they spend their time chasing after what isn’t even the real objection.
Remember, always qualify objections before you answer them, and then use these scripted, proven rebuttals.
Objection #2 The Price is Too High
The price is too high is a common objection, and a favourite way for prospects to put off making a decision. Again, as with all objections you get, you need to be able to determine whether this is the real objection, or just a smokescreen. When someone tells you the price is too high, it often really means that they either can’t afford it, or that they can buy it cheaper somewhere else, or that they aren’t convinced yet or don’t understand the value.
So what you need to do is to qualify the objection before you answer it, and the best way
to do that is to say: “I understand. ________, let me ask you a question. If price weren’t an issue on this, would you move on this today and place an order with me?”
Any answer other than a yes means that it’s a smokescreen and not the real objection. If that’s the case, then it’s up to you to do more probing here to find out exactly what it is they are objecting to. If they say yes, however, then you’ve got to begin closing. Follow a yes answer up with: “Where does our price need to be for you to place an order with me today?”
If your prospect gives you a price that is reasonable and one that you can match, then before you just lower your price, you’ve got to commit your prospect. If you can now match the price they are willing to pay, say: “OK _________. Now that price may or may not be something I can match. I’ve would have to speak to my manager about this. I’d be glad to do that, but before I do let me ask you again, if he says that I can get you the (repeat the size of the order and the price here) is this something you would move on today?”
Only after they agree to move forward are you to put your prospect on hold and then get the proper price approval. After you’ve gotten the approval, come back on the line and say,
“I’m happy to tell you that we can move ahead with this today. I know you’ll be happy with this, and here’s what we need to do to get you started….” Then close the sale. Of course, if they give you an unreasonable figure, one that you could never match, then you might not get this sale. Unreasonable price demands usually indicate that the prospect wasn’t real to begin with. It means that next time you must practice better qualifying techniques, and qualify especially hard on how important price is in making the buying decision.
Objection # 3 The Price is Too High–2
Sometimes you will get this objection again, and after you qualify and isolate it, if your price is in the ballpark but you’re not the least expensive in town, you should always build value. The best way to do this is by saying: “I’m sure you know the old saying that ‘you get what you pay for,’ right? Well ________ you are right, we’re not the cheapest in town, but I can guarantee you that you will get what you pay for with us.”
“You see, the most important reason for moving ahead with our product and my company
today is the follow-up service you will get from me. ________, I pride myself on my client satisfaction, and I will always make myself available to you, and if I can’t help you immediately then I will find someone who can. You see the type of service I provide can’t be bought at any price! I know you will always be glad you took action today, so let’s get you started. Do you need a P.O. number on this or do I just make it to your attention?”
You will be surprised by how successful this close can be. Often your prospect is just waiting for a reason to buy, and I can tell you that 80% of the other sales reps aren’t prepared to earn their business. By being prepared with this rebuttal though, you will be!
Objection #4 I Want to Think About It
“I want to think about it,” is often a tough objection to overcome because the prospect isn’t really saying no, they are saying not now (unfortunately they really mean not now and not ever!) 80% of sales reps have trouble responding to this because it isn’t really an objection so it is hard to give a rebuttal to. But the top 20% know that the best way to respond is with a rebuttal that gets your prospect to expand on his answer so that they will reveal what their real objection or objections are.
The best way to respond is to say: “That’s perfectly OK, and I want you to think about it carefully before you make any decision. From what we have discussed so far, I know you understand how the (product or service) works right? And I know that if you were to decide to move ahead on this then the money wouldn’t be a problem, I mean this does fit within your budget (whatever the amount is) today right? And I know that you see the benefit of taking advantage of this (list a benefit that you know your prospect is interested in) today right?
Great! _________, just to clarify my thinking what part of the (product or service) is it that you want to think about?”
Now listen closely to what the prospect tells you. After you are clear on their answer, question and isolate it so you can uncover the real objection. Another simple way to get your prospect to identify what is holding them back when they say “I want to think about it,” is to simply say: “Great! And I want you to think about it, and correct me if I’m wrong, but you would not take the time to think this over unless you were seriously considering taking advantage of this (product or service) is that right? Then just to clarify my thinking, what part of this do you want to think over?”
Again, listen carefully to what your prospect tells you and then question and isolate what they say to make sure it is the real objection.
Objection #5 “I already have a supplier or company I work with.”
This is actually a great objection to get because it means you’re talking to a buyer of the products or services you offer. Before you begin to answer this objection, it’s crucial that you understand something about the current relationship they now have. You will want to know how the relationship with this current source began, what they like and don’t like about it, and how they go about reviewing other vendors. As always, question this objection first, and then you’ll have an idea of how to proceed. Start with: “__________ I’m glad you’re using XYZ company for this, you see, I only work with companies who understand the importance of this service—my job is in increasing value not in introducing new accounts to this market. And ________, I’m sure the XYZ company is the best supplier you’ve found so far and that’s why you are still using them right?
“Well ________I’m interested in helping you take your business to the next level of (performance, service or value), and I want to start slowly with you and prove our worth.
I don’t expect a total switch, rather just an opportunity to help you improve your business.
I’m going to suggest you start small with our (trial/demo product) and you’ll then have a chance to compare our (product, service, performance) side-by-side. After 90 days, you be the judge. Now I can have this out to you by next Tuesday or would Thursday be better for you?”
If your prospect still says no, ask them how they got started with their current supplier, and ask them for the same opportunity to earn their business. Remember, the key to answering this objection, as always, is in questioning it first.