It can happen at various points throughout the sales process: you’ll be presented with some sort of an objection. How do you confidently handle objections and navigate pushback from your prospective clients in order to land the sale or opportunity? This is a topic that Lisa Peskin, CEO of Business Development University, certainly knows plenty about, and she recently spoke about objection handling to large groups of sales and industry insiders at ASI events in both Orlando and Dallas.
Couldn’t attend? Here are Lisa’s top 4 presentation takeaways, which will have you handling objections like a pro and closing the sale every time:
1. Objections are not always bad. If a prospect is totally not interested, they often won’t verbalize an objection. They will either just not express their concerns or simply say no. What are some reasons they might object? Some reasons might include lack of resources, money or urgency on their side, or even the perception that your competition is a better choice for them. Understanding the reasons why they are objecting will often provide insight into how to best handle the objection.
2. Objections can come up multiple times throughout the sales process. Most likely, you’ll be presented with an objection either when you are trying to get an initial appointment with a prospective client or at the conclusion of your sales presentation after you’ve offered solutions. In what forms can these objections show up? You might see a prospect mention a concern or put up a roadblock, or they might just need a little reassurance.
3. Since you know they’re coming, you can plan for objections. Working proactively on the front end can help you to avoid an objection on the back end. For example, if you know they might rush you off of the phone by using the excuse that they don’t have time to talk, let your prospect know you understand they’re busy when you call them (i.e. “I am sure you must be busy, so I will keep this call brief.”). How do you handle the very common price objection? It is important to find out up front what criteria your prospect will be using to make their decision. If they say up front that price is their only key determining factor, one of Lisa’s favorite strategies is to address this right away. She recommends responding with, “I am going to tell you right from the start that if price is the only determining factor, we may or may not be the least expensive option.” Most times, they will reply by letting you know that there actually are other factors they are considering and that they do, in fact, want to hear more about your offering. Now, since you had this conversation on the front end, it will be more difficult for them to use price as an objection on the back end because it was already discussed.
4. There are multiple proven techniques you can use to handle objections. Most sales people have been trained to answer objections directly but there are other very effective techniques, such as using analogies, justifications and discussions about ROI. You could even use the oldest technique in the book, which is the 3 F technique: Feel, Felt, Found.
Want to know more? Lisa will share her proven objection handling techniques – and more – in July at ASI’s event in Chicago.
Can’t make it to hear Lisa speak? Feel free to contact us! A BDU team member would be happy to discuss the objections you’re hearing and how you can overcome them.