As a matter of fact, done properly, sales can have nothing to do with objections. Might sound crazy, but you can actually go through an entire sales opportunity without handling any objections. How do you ask? Well, you address them as they come up or you bring them up before they come up. Stay with me.
There is a very good chance that the same things come up almost every time you enter into a sales opportunity. For example:
- Your pricing is too high.
- Your delivery is not in line with our expectations.
- Your Terms & Conditions are too one-sided.
- We have been working with ABC Company for 5 years and we know them.
- Your manufacturing location will make transportation too expensive.
We could go one and on. Let’s face it if you heard the same 3 or 4 things last month, and the month before last, you will probably hear the same 3 or 4 things this month. If you have quoted the same opportunity 4 times (and lost based on price every time) why in the world would you be excited about the 5th? It’s reality. The question is: What are you prepared to do about it? Remember: It’s THEIR problem – DO NOT MAKE IT YOURS!
First off: Prepare for it to happen. Read the situation and stay cool. Your credibility in this business is based on how you handle yourself in these situations. Remember, it happens often so you shouldn’t be surprised.
As sales professionals, our job is to GET TO REALITY QUICKLY. This happens by addressing objections early or bringing them up before they come up. This is what it looks like:
1. You quoted 4 times and they ask for you to do it again:
- One concern I have (we have) is that we go through the motions the same way we did the last 4 times and we get the same outcome. Can we talk about what will be different this time?
2. “Your pricing is too high.” (assuming you have not sold on value):
- Thanks for sharing with me that our pricing is too high. Can you help me understand how much higher it is than you were expecting?
- Appreciate the feedback. If we are unable to adjust the price can you tell me what will happen next?
3. “Your delivery (lead time) is too far out.”
- Thanks for helping us understand your timing (delivery). If we are unable to improve on our 8-week timing will that be a deal-breaker?
4. “Your terms and conditions are too one-sided.”
- Thanks for helping us understand your Ts & Cs. If we are unable to adjust (re-write them) will that be a deal-breaker?
- Can I ask you a sticky question? If we are unable to adjust (re-write them) will that be a deal-breaker?
5. “We have been working with ABC company (your competitor) for 5 years and we know them.”
- In my experience, a 5-year relationship with a supplier is a strong one and it’s very unlikely we will be able to replace them. Does ABC company even know we are talking?
- In my experience, a 5-year relationship with a supplier is a strong one and it’s very unlikely we will be able to replace them. What will happen when you make the switch to us?
- In my experience, a 5-year relationship with a supplier is a strong one and it’s very unlikely we will be able to replace them. How will you tell ABC company you have gone with us?
6. “Your manufacturing location will make transportation too expensive.”
- Thanks for sharing that with me. We should get on the same page as far as your expectations. What are you expecting to pay for transportation?
- Thanks for sharing that with me. When we discussed the cost savings on the production floor can you see how that more than out-weighs the transportation cost?
- Thanks for sharing that with me. Can we review the cost savings our solution will provide? Then we can see if the transportation fees are a non-issue.
Remember this: There is a good chance if you don’t address it up front it will come back to bite you
