The most frustrating aspect of sales are Objections. I think we can all agree on this. But, we also got to accept the fact that sales objections are expected in every selling process. There are no sales without a few roadblocks. This goes for both inbound and outbound sales.
Picture this; you’ve done your research on your prospect, identified whom to contact, the best time to contact, made your initial contact, and even got an appointment. But just when you thought things are going real smooth and you are just a few seconds away from closing the deal. BAM!, you get hit with a ‘but’. Your product/service is great, but I don’t think we see an opportunity or, I think your product will do wonders for the company, but I don’t think the board would agree to this. You feel like you have hit a brick wall. After all the hard work, all the research you did, all the time you devoted for a single prospect, he just blows you away. It is frustrating, isn't it?
But what if I say, objections are opportunities. Opportunities to influence and convince qualified prospects to purchase and weed out the prospects that are not a good fit for your offering. And to convert objections to opportunities, you will have to learn how to overcome them.
A simple way in tackling sales objections is by overcoming them even before your prospect gets a chance to voice them. It is not as easy as it sounds. Before you even think of tackling your prospect’s objections, you need to know what kind of objections he/she is going to voice. To get out of the frustrating rollercoaster of objections and move into a serene and positive addressal of objections, every sales rep needs to be apprenticed with the most common sales objections. This helps them in building tactics, and plan their counter-attack when the time comes.
So, here are the most common sales objections every Inside Sales rep come across;
Sales Objection #1: “We don’t have the budget to..”
This is probably the easiest objection a prospect could come up with. He/she would say things like they have no room in their budget to purchase your product, or they might be looking for a discount. The bottom line is always the biggest hurdle for clients, and you will be required to justify your cost. Cost is probably the most difficult objection to overcome, no questions there.
Sales Objection #2: “We don’t see the need for your services”
‘Need’ is especially the most prevalent objection observed in the sales of complex product or services. This is mostly because of unidentified needs of the prospect, value proposition, or if the prospect is overwhelmed with a lot of information. They are perplexed whether the product would be a right fit or not.
Sales Objection #3: “I can’t make a decision alone on this”
In many cases, prospects get off the hook with this. Because the person you are talking to does not have the authority to make an immediate decision. For larger companies, there would be committees involved in the buying process, which makes life even harder for the inside sales rep.
Sales Objection #4: “We are all used to things this way”
Your prospect might be comfortable with the things they are used to. That’s quite common. It is human nature to be complacent and fear change. If a prospect is complacent, it is because he is ill-informed about the opportunity or potential, so it is the sales rep that should take the extra step in explaining the over-arching problem.
Sales Objection #5: “I can’t make a decision right now. How about you call me next month?”
Prospects procrastinating is not new to inside sales. They would come up with non-committal responses to put the sales process on hold to buy them some time, or just object. But the chances of them coming back are really slim.
Understanding and being familiar with sales objections will help sales reps to arm themselves with the right counter-attack and inside sales strategies that will tip the scale in their favor. Strategising yourself to handle every objection will transform you into one of the best salesperson.
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